Money Mondays

[table id=1 /] Black empowerment often goes beyond just understanding who we are as a people. It also includes financial education. A lot of us have terrible money habits, which leads to a hard time understanding why the wealth gap is so large between us and everyone else. In my younger years I did a lot of stupid stuff financially, which is the only reason I'm not rich right now... probably the only reason most of us aren't rich right now is because of bad money habits when we were younger. As I've gotten older, I've learned a few things…

[table id=1 /] I told somebody that they're losing money by saving it in a bank account and they asked me to show them how... so here goes: Wells Fargo stock (WFC) is at $44.39 per share. It pays a DIVIDEND of 4.60% APY However, if you put your money in a Wells Fargo savings account, you only earn 0.01% - 0.10% APY You're money is literally losing out on 4.5% - 4.59% per year. Invest: $44.39 turns into $46.43 (+$2.04) Save: $44.39 turns into $44.43 (+$0.04) Multiply that across whatever you have sitting in a savings account. It starts…

[table id=1 /] If you didn't read 101... check it out before you start. Why the wealth gap between black America and white America is so huge... is because of investing and inflation. According to Google, inflation is projected for 2020 to be at 1.9%... which means your dollar will be worth 1.9% less than it's worth today. If you're earning 0.10% interest in a savings account, you're being outpaced by inflation by 1.8%... On the other hand, if you invest, you'll be ahead of inflation by 2.7% WITHOUT needing to beg your boss for a raise. Bigger returns are…