Buy More Black Challenge: Day 10
Week 2: Become a Conscious Consumer
This Week’s Goal: Learn the seven step process that will make it much easier for you to start buying more Black products and services.
Day 10: Teach others about their spending power
Today’s Task: Teach others about their spending power
When was the moment you realized the power of money?
When you have money in your possession you have an opportunity to spend it any way you want. Now, suffice it to say, you may have already decided where those funds will be going. That’s a part of the allocation process.
Your spending power rests in your ability to control your money and not allow money to control you.
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Have you ever been taught about the Profit First method to manage your money? How about the envelop method? Profit First is the electronic version of the envelop method. For many of us, we were never taught how to properly allocate our funds once we received income. Some of us learned to pay our bills first and to live off of whatever was left or save whatever was left in our savings account. The problem with that is, there was never really much left over at the end of paying the bills.
I recommend you take control of your spending by first educating yourself about the Profit First method. Implement this immediately and then teach someone else so that we can begin to break the cycle of broke in our communities. There’s no better time than now to create generational wealth for your family and the black community.