“There is an enormous achievement and opportunity gap impacting African-American youth as it relates to grade level education and higher education opportunities. This year’s record setting conference tackled these issues from a global perspective, finding solutions to educating our young men and women and directing our members to act and inspire others to act on the solutions discussed,” Chairman of the 100 Black Men of America, Inc., Al Dotson, Jr., Esq. This year’s historic event broke conference attendance records for members, spouses, youth and corporate partners. In addition to the generous support of the corporate sponsors, a number of partnering organizations made significant financial investments and launched a number of programs during the conference. “Thanks to the generosity of our corporate partners, we are able to impact lives globally as we better our communities, strengthen our families and prepare our youth for a brighter future,” added Dotson.

Source: marketwatch.com

Myth: Poverty Results From a Lack of Responsibility
Fact: Poverty Results From Low Wages

Myth: A Huge Chunk of My Tax Dollars Supports Welfare Recipients
Fact: Welfare Costs 1 Percent of the Federal Budget

Myth: Most Welfare Recipients Are African American Women
Fact: Most Welfare Recipients Are Children-Most Women on Welfare Are White

A mind that is cluttered with money worries may be flooded with one or two or all of these thoughts at one time or another. Maybe you were there once in your life, maybe not. Most people with financial troubles are anxious, confused, angry, harbor feelings of hopelessness, insecurity, and uncertainty about future financial outcomes. Consequently, this state of mind affects everything, including work performance.

It’s time for a financial assessment. Is your trouble because you have maxed out your credit cards? Maybe you have more month than money. Do you have medical expenses? Are you sick and can’t work? Have you lost your job, or been downsized? Where did the shortage originate?

Once you have assessed where the problem lie, then you can look at remedies. Money troubles in plain simple English are not enough money to cover your present lifestyle. The causes may or may not be within your control.

When the funds are low, the logical answer would be to make more but what most people do is fret about it. Some spend more time worrying about what they don’t have while others add on a second job.

Money troubles are not going to go away without something changing. Worry will not make up the deficit but initiating a plan of action will.

Make a list of all of your monthly household living expenses: mortgage, rent, utility bills, etc.

List Your Debts (creditors you owe)

List your entertainment

List miscellaneous (lunch, coffee, snacks, etc.)

Write in how much you pay on each. Total that amount.

List your sources of income (job, spouse, etc.). Take the total from this and subtract it from what you spend on household, debts and entertainment. If that figure shows you are not covering your expenses, look back at your expenses; see what you can eliminate from entertainment. Make a list of other areas you are expending money, such as lunch, dry cleaning, hair cuts, etc.

Try taking your lunch from home rather than buying lunch. The average lunch cost about $7.00. That $7.00 for five days comes to $35.00 a week, totaling $140.00 a month. Imagine if you, your wife and children spent the same amount weekly,that would amount to a partial mortgage or rental payment.

Take a look at your Debt. Began to work from the smallest to the largest. Take the money you saved from not buying, let’s say lunch, and redirect the total amount towards paying off the smallest debt first.

As you pay off each debt, take that money and add it to the next smallest debt, working your way to the largest, until you have eliminated your debt completely. While you are doing this, examine your household budget.

Look at how to eliminate some of your other expenditures; for example, if you have a high cell phone bill, you might want to exchange that cell phone for one with a more fixed rate. Maybe instead of hiring a lawn service, you could cut the grass yourself. Perhaps you might visit Barber or cosmetology trade schools to obtain these services at a reduced rate.

Look at what you are already doing first to find the extra money. If you still need more to make up the deficit, then you might look at your skills and talents: start a home-based business. It’s something you could do as a family.

Money troubles can be conquered, if you are willing to take a few extra steps. Don’t look at the impossible debt mountain, began the climb one step at a time. And, yes, it is okay to reward yourself along the way but keep in mind where you are headed. Don’t overdo it. Once your debt is eliminated, don’t spend the excess money; instead, add it to your future savings options.

Understand that paying your debts down will not take place overnight but if you are consistent it will happen.

Author Bio
Blondie L. Clayton is a Realization StrategistTM, Publishing Coach the co-founder of the Online School of publishing, Book Publishing and Marketing Coach; works as a freelance writer; hosts the “Author’s Spotlight at Positive Change Radio. Download your free debt free starter kit at blondie2book.com

As a candidate in 2008, Obama earned about $2.6 million from the sale of his books, “The Audacity of Hope” and “Dreams From My Father,” according to returns the White House released yesterday.

The book sales represented the vast majority of the first couple’s income, although they also reported wages of about $200,000 and a small amount of investment income.

Together, Obama and his wife, Michelle, paid about $855,000 in federal taxes. They would have received a $26,000 refund, but asked that the amount be applied to their 2009 income taxes instead.

Source: Washington Post

“Do not believe this thing called overnight success — there is no such thing,” he told a throng inside the David Lawrence Hall on the University of Pittsburgh campus last week. “Anyone who’s a success had to bust their (rear) for it. That means when you’re tired, when you’re grumpy, when you’re sick, you have to do more.”

Source: Chicago Sun Times

“When I was here in 2007, if I knew how good that Obama guy was, I would have just not wasted my time… would have just joined up right then,” Biden joked of his own failed presidential bid. The audience roared. “I should have known, you know,” he added.
After taking a moment to condemn slayings in Binghamton, Biden quickly took up the role of cheerleader-in-chief for Obama’s turnaround plan.
“The president and I, we’re positive we know what’s on your mind… I think we know what’s keeping you up at night – the same thing that’s keeping us up,” Biden said.

He spoke of unemployment rates higher in the black community than the overall population, and of how minorities have been left out of an American “bargain” – when productivity rises, everyone who works to increase it should reap the benefits.

Source: nydailynews.com

It’s simple supply and demand. With new car sales at a 27-year low and desperate dealers piling on rebates and incentives, prices are plummeting. At the same time, demand is up for used cars and their values are rising.

“The intuitive logic has been that a used car buy is a better buy,” said Edmunds CEO Jeremy Anwyl. “But consumers need to check reality. It’s very contradictory.”

Used cars still generally cost less than new ones, but a mix of drastic price cuts, rebates and financing incentives is narrowing the gap.

Source: USAToday

“We have targeted these banks because we have gone through what we can get our hands on, and it seems like there’s a real problem here,” NAACP CEO Benjamin Jealous told CNN.

Jealous said the group wants “transparency.” “We want to see the books,” he added. “We are not seeking damages; we just want them to fix the problem.”

Both companies denied the allegations.

Do YOU think mortgage lender targeted poor minorities, preying on their will to own a piece of the American dream? Let us know in comments!

Source: CNN

About 6,000 people attended the meeting at the Los Angeles Convention Center and heard prominent black political and cultural figures discuss African American issues in the era of Barack Obama. The topics included foreclosures, gang violence, education and U.S. diplomacy in Africa.

Source: LA Times

President Obama plans to instruct key federal agencies today to reexamine two policies that could force automakers to produce more fuel-efficient cars that yield fewer greenhouse gas emissions, according to sources who have been briefed on the announcement.

The move, which the White House has privately trumpeted to supporters as “the first environment and energy actions taken by the president, helping our country move toward greater energy independence,” could reverse two Bush-era decisions that have helped shape the nation’s climate policy and its auto market.

Hyper-inflation has forced the central bank to continue to release new banknotes which quickly become almost worthless.

There is an official exchange rate, but most Zimbabweans resort to the informal market for currency transactions.

In addition to the Z$100 trillion dollar note, the Reserve Bank of Zimbabwe plans to launch Z$10 trillion, Z$20 trillion and Z$50 trillion notes, the Herald newspaper reported.

“In a move meant to ensure that the public has access to their money from banks, the Reserve Bank of Zimbabwe has introduced a new family of banknotes which will gradually come into circulation, starting with the Z$10 trillion,” the Herald said, citing a statement from the central bank.

Previous issues of new banknotes have done little to curb the cash crunch faced by Zimbabweans, who often line up for hours outside banks to withdraw barely enough to buy a loaf of bread.

Source: Telegraph.co.uk

The Feb. 12 ceremony will kick off a yearlong centennial celebration for the National Association for the Advancement of Colored People.

Gore and Maathai, both Nobel Peace Prize laureates, were chosen by NAACP Board Chairman Julian Bond to receive the chairman’s award. Nominations for the Image Awards, which honor those who promote diversity in the arts, will be announced Jan. 7

Blacks and hispanics are bearing the brunt of New York City’s tightening mortgage market, a new report shows.

The number of new mortgages fell 14% in 2007, according to numbers released by the Furman Center for Real Estate & Urban Policy.

Mortgages for white homebuyers barely fell – and Asians actually saw a 6% increase – but mortgages for blacks and Hispanics dropped by 44% and 34% respectively.

The data suggest “that it’s going to be increasingly difficult for black and Hispanic borrowers to get mortgages,” said Ingrid Ellen, Furman Center co-director.

“We could be on our way to reversing many of the advances that we’ve made in minority homeownership,” she said.

Part of the decrease is due to the subprime mortgage crisis, but even prime loans fell dramatically for minority-group buyers.

“Communities of color are not getting access to any type of credit, fairly priced or not,” said Josh Zinner, co-director of the Neighborhood Economic Development Advocacy Project.

Barack Obama and Joe Biden will cut taxes for 95% of working families, and provide at least three times as much tax relief for middle class families as John McCain and Sarah Palin.

Use the link below to calculate your savings:

http://taxcut.barackobama.com/

In the midst of historic volatility on Wall Street there is a continuing trend of blacks saving and investing less than whites, according to a survey released Wednesday. The difference is attributed to various social and cultural reasons such as getting less exposure to personal finance concepts and advice.

The poll by Ariel Investments LLC and the Charles Schwab Corp. found that 62 percent of the blacks surveyed own stocks or mutual funds, lagging the 82 percent of white respondents who said they do.

Read the Associated Press Full Story

In round two of voting for Bush’s bailout package, the Bill passed by 263 votes to 171.

This news sent the Dow Jones on an almost immediate streak, gaining over almost 2% just after the event.