The Power of the Black Dollar!

  Studies have shown that the circulation of the dollar is about 28 days in Asian communities, 19 days in Jewish communities, 17 days in white communities, and just six hours in Black communities. Why is this? First, black owned businesses are often overshadowed by stereotypes that the products or services sold by them are often inferior to those being sold by some of the other races listed above. These stereotypes will often steer black consumers away from black owned businesses instantly taking the black dollar out of the black community. Sometimes these negative stereotypes about black businesses are uttered the most by black people. I've personally heard statements from black people after purchasing an unsatisfactory service or product sold to them by a black owned business. Statements that condemn black businesses collectively because of the negligence of one, while businesses owned by groups outside the black race are not subjected to this level of scrutiny.

 Some black people subconsciously  or maybe even consciously places all black businesses in the same group of inferiority. This is very unfortunate and unproductive. It is also one of the most challenging obstacles that black businesses, black consumers, and ultimately the black community have to overcome. Mentally and verbally labeling all black owned businesses as being inferior because one black owned business didn't live up to the expectations of its customers has been and will continue to be detrimental to the economic state of the black community. 

  In order for black people to gain economic independence we have to start supporting and spending our money with black owned businesses. In hopes that those black owned businesses will then reinvest some of their profits back into the educational system and infrastructure of local impoverished black communities. Communities grow rich when the money being spent with local businesses is then reinvested by the owners of those businesses back into that community. 

   Keeping the black dollar circulating in the black community as long as possible will give black people the opportunity to build and sustain a more enriched  economy. It'll give them an opportunity to build better schools in their communities, and create more black owned businesses leading to a more intelligent and wealthier race of people. Black people empowering black people with the power of the black dollar!!

Written by Terrence E. Forest

Edited Reginald Forest 

Lessons on Investing - How to make money during a Bear Market and a common mistake you should advoid.

 A Bear Market is a term used to describe a 20% or more decline in the overall value of the stock market from its peak prices.  It symbolizes that the investment community is nolonger optimistic about the future of the stock market. Bear Markets can last any where from a few weeks (the pandemic-induced bear market lasted a mere 33 days making it the shortest bear market on record) to a few years. For example, the Great Depression was a bear market that lasted over 10 years. Though devastating to those that are already invested in the stock market, a bear market can be a great opportunity for individuals that are considering buying into the stock market. If you have some extra cash laying around and can afford to leave this money invested for an unspecified amount of time, you could possibly make a substantial amount of money(profit) off your investment once the market has fully recovered. 

This brings me to my next word of advice. If you find yourself in a bear market, it's important to remember that stocks normally recover from  dramatic declines in time. So instead of panicking  and selling all your investments at a lost, you'll probably do better patiently holding on to your investments until the overall market starts to recover.

And I highly recommend seeking professional advice before putting any of your money into the stock market. Thank you for visiting Financial Blueprint!

Make Money Work for You (Starting a Small Business)

 Whenever money comes into your possession, you have a choice to make. You can choose to either spend it all or save a portion of it. The average person spends it all with hardly any thought of tomorrow. However, wouldn't it be wise to save a portion of your monthly income, not just for retirement or a vacation, but to invest that savings into something that will eventually start to put money back into your pockets?

   I'm sure you will agree that you would rather save (even if its only a small portion of your monthly income, maybe 5 or10%). So that you could invest this savings into an investment that will eventually start to produce more money for you. Instead of working for somebody else as an employee for the rest of your life.
  That's why I've taken the time to put together a list of some of the most popular and also profitable investments I could find for under ten thousand dollars. Everyday starting today I will post an investment from this list with a brief description of each, along with a list of pros and cons which I hope will help assist you on your quest towards becoming financially free.
Investment #1. Starting a small business
  Starting a small business can be a really great investment, but like any other investment it has its risks. Your business can literally be one of the most beautiful things you've ever created one day. And then due to something completely out of your control, become one of your most hedious creations the next. However, if you truly want to succeed, you have to learn to accept the good with the bad. Owning your own business can be a very rewarding and exciting adventure. Yes, you'll face some challenges along the way, but those challenges should be looked upon as an opportunity to become an even stronger entrepreneur, rather then set backs. Don't allow fear of failure to hold you back, if starting your own business is something you really want to do.
Pros:
-You determine your work hours, work pace, and work environment.
-You get to pursue a career based on your interest
-You're more likely to become a millionaire vs someone in a traditional employer-employee role
- There's no limitation put on the amount of money you can earn as an entrepreneur 
Cons:
-Longer work hours(the average small business owner will work more then 50 hours a week)
- Your business can fail, which means you can lose all of your invested money 
- you're not guaranteed a paycheck

Why Advertise?: Start and Run a Successful Business Using This Key Ingredient

 Advertising is an avenue through which you can capture the public's attention to encourage and persuade them to buy your product or service.   

Advertising is usually done through various  media outlets , such as print (newspapers, magazines, etc.), broadcasting (T.V., radio, etc.), or the internet. If you are planning to start a business, or if you already have a business, advertising your product or service can help to increase your sales. It will also help your business establish and maintain a strong presence in the mind of existing and potential customers. Some newspapers and websites will allow you to advertise for free, which is great because normally it cost to advertise. However, even though advertising can sometimes seem like an unnecessary expense, it has and is still helping some of the most successful corporations around the world generate large amounts of revenue.
Edited by Reginald Forest
Learn More About Advertising From These Published Experts

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Hooked Summary (10 to 15 minute Read)

What This Book Is About:

This book explains the Hook Model: a four-step process embedded into the products of many successful companies to subtly encourage customer behavior.

Hooked is not abstract theory, but a how-to guide for building better products. Hooked is written for product managers, designers, marketers, start-up founders, and anyone who seeks to understand how products influence our behavior. Continue reading the summary here👉 Hooked

 

Money: the good, the bad, and the really ugly.

   Money is a government issued, circulating, medium of exchange. 

   It is also a tool that can be used to build up and improve the life of an individual, however if a person mismanages their money by creating more bills than they can afford to pay, it can become the source of a miserable existence . Anybody can create a better life for themselves if they learned to save a portion of what they earn instead of wastefully spending all of it. They could use their savings to buy a beautiful home in a great community for themselves and their family. They would also be able to buy nice clothes, drive around in a new car, travel, and do all of the things that they love to do without the worries of living from pay check to pay check. They could also save enough money to start investing, the creation of a secondary income that could put them in a position to no longer rely only on their job in order to survive. Wow, now wouldn't that be beautiful!! These are just some of the benefits of good money management. Unfortunately, most people do the exact opposite, by creating a lifestyle that consumes 100% of their earned income. They spend all of their money on extravagant material possessions, ultimately leaving their bank accounts empty on a daily basis. And that’s just the Bad. Things could get really ugly when people start to spend over 100% of what they earn by running up credit card bills and taking out loans that they can not afford to pay back. So why is it that, in spite of these knowingly horrific facts, most people continue to recklessly spend their money without any thought of tomorrow. And thereby embracing the inevitable possibility of a bad or really ugly lifestyle? In response to this question one word comes to mind: Sacrifice. Most people do not want to sacrifice today for a brighter tomorrow. They would rather spend it all and enjoy today instead of saving a small portion to invest tomorrow.  I used to be a part of that group of people. I lived from pay check to pay check for years (the bad). I also ran up a lot of credit card bills and took out loans that I couldn’t pay back (the really ugly). However one day I decided to start educating myself on personal finance and as a result, really soon I’ll be debt free and on my way to creating a secondary income. This will eventually give me the financial freedom to live the lifestyle I want to live, without having to worry about going broke or losing my job. I encourage you to educate yourself on personal finance as well, and if possible start saving a portion of your earned income every pay period so that you can start to invest, and eventually join that elite group of people who are truly financially free. 

Edited by Reginald Forest

Make Money Work for You Using Compound Interest

  This is the first time some of my readers have ever heard of compound interest. Just in case my example in my previous post didn't clearly explain compound interest, I've put together a list of definitions and examples from different websites to help me better explain what compound interest is and how it can benefit you.

Example#1

 What is compound interest? It's interest earning interest. For example, suppose you saved and banked $100 a year ago. It earned $2 in interest last year. This year, you'll be earning interest on $102 (original savings plus the interest earned). That might not seem like much, but understanding that simple fact can have a major impact on your financial success.
http://money.usnews.com/money/blogs/my-money/2012/09/20/10-things-you-need-to-know-about-compound-interest

Example#2

  Compound interest is, in a nutshell, interest upon interest. That is, when an interest payment is added to the principal and then the whole thing (principal + interest) earns interest.
http://wiki.fool.com/Compound_interest

Example#3
 The longer you save money, the more it can grow in value due to compound interest. Compound interest means you earn interest not only on the amount you deposit in a savings account, but also on all the interest you earned previously. (Provided you didn't take out any money, of course!)
http://www.cashcourse.org/articles/id/1818/the-power-of-compound-interest--small-savings-add-up

For more on compound interest read:
What is the difference between Compound interest and Simple Interest?

I hope this helped! Please visit these sites, for further information.