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Personal Finance for Black Males

I don't follow Kanye West on any social media outlet. I don't listen to any of Kanye West music, and when he become "Kanye West Kardishian", I really stopped listening to him. However, every since he was approaching his album release, he has been tweeting like a mad man. He has been trending non-stop on Twitter, and a lot of his tweets have been outrageous. However, one caught my attention and the attention of countless others.

He stated in one of his tweets that he is "53 Million Dollars" in personal debt. Now, I think that Kanye is either a good actor or mentally insane. But, either way, if he owes 53 million dollars to anybody then this is beyond shameful.

I heard that Kanye is begging Facebook's owner (Mark Zuckerberg) for money and is asking for people to pray for him. Now, I have zero sympathy for Kanye West. But, I do feel that he is not the same Kanye West that everyone respected. He is not the same Jesus Walks, Kanye.


But, anyway this made me think of the of the financial troubles that not only we have in some of our communities around America, but the financial troubles of the so called elites in our communities.

Its ironic, but even before I heard about the Kanye situation, I was watching a old boxing match. Ali vs Liston. During the fight, I saw several former fighter after their prime. Joe Louis and "Sugar" Ray Robison. Each are 10 top fighters all-time in American boxing. However, each died broke and basically working just to pay off their debts (Joe Louis died with a lot of debt). Then, I began to think about Joe Frazier (Ali greatest opponent), Jeese Owens (the dude they are doing the movie "Race" on), and many others. All of them died broke.

The black male athlete and rapper (DMX, Chingy, Sisco, and many more) are all going past broke. After all the money made and the great careers they had. To just go flat broke and then be in a business that is without retirement benefits is ridiculous.

I ask the question, why the trouble and stress of trying to make it to the top, when after every is done you end up right back at the bottom (the place you came from)?

 I mean the memories are fun, but what are memories when the past is better than your future?


The ridiculous spending and the trap to try to look cool made many of our so called "elites" go broke. Instead of doing good in the community or securing themselves for the life after, they spent on jewelry and cars that soon became old news.

Again, everything that is new will be old. Maybe the trends will come back, but think how foolish many rapper felt when they have a closet full of Tommy Hilfiger or Fat Albert jeans. But, they only got a pocket full of lent. A dresser filled with 5x white wife beaters and platinum chains. But no money in the bank or college funds for their kids.

I am not saying this as a put down. But, as a wake up call. We as a people need to do better when it comes to expenses, finance, and the strength to not fall in the trap of debt/poverty once out of the situations.

Look at Marshawn Lynch. The brother is retiring with every dime he every made from the NFL still in his pocket. Marshawn spent only what he wanted (money from endorsements), he made good investments, and he did not go crazy with his money. And, he still finds ways to gives back to his community (Oakland, CA).

This is a example of a real brother and someone who is economically aware. And, Marshawn seems like the brother who will stay down this path. You telling me that 49 million will not last you for a lifetime?

Yes, it will. Marshawn has enough money to never look at a football again.

https://youtu.be/_xbQk5v8MYo


Financial freedom and security is something that we need to achieve. I believe that a true man knows how to spend responsibly. You have to learn how to control himself and his spending habits.


I mean just think about all the successful brothers who died without a penny, after making it so far (that had to hurt/kill them more than anything).


Y'all know that after imparting knowledge, I leave you with a quote and some links to help unlock a new level of manhood. So, here is a quote by J. Cole off the song "Can I Live."

"Never been a fan of flashing
Probably cuz' I never could so if I had it, never would
Then I got my first little taste of paper, and I splurged
I guess its just the n**** urge, this is the Boondocks." 

I can't describe how powerful that message is. This is the trap of going broke and being financial illiterate. Its a urge (a drug) that is pumped into our community and our conscious that feed us the cancerous behavior/mindset to crave materialistic things over anything else. To do anything to have the materialistic things.

"If I don't make no money, I going to take your money." - Meek Mill
"Forget the price, just throw it in the bag." - The Dream ft Fabulous

These mindsets of thinking will have you in either three places: Broke, dead or in jail.

Plain and simple. Therefore, think before you buy. And, don't never let anyone or anything convince you to do something foolish for money. We have to learn the value of a dollar. If not, then the vicious cycle of not having money and as a result, finding your way on the slave ship for trying to get "fast cash" will continue on forever.

Anyway, I said my piece, I leave you with some great black men to checkout for financial freedom and advice.

1. Wesley Virgin- https://www.youtube.com/user/7dayfitness/videos

2. Dr. Boyce Watkins (Disclaimer: You don't actually have to quit your job after watching some of his videos, few are ready for this step right now. Just be patient, your time will come when the time is right). -https://www.youtube.com/results?search_query=dr+boyce+watkins+finance+advice

3. Dennis Kimbo- https://www.youtube.com/results?q=dennis+kimbro

4. Mr. Jay Realstate - https://www.youtube.com/results?search_query=mr+jay+real+estate

5. Chris Hogan- https://www.youtube.com/watch?v=caBm-xscQh8
                           https://www.youtube.com/results?search_query=chris+hogan+







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