#BankBlack

Over the past few years, or so, I feel like I’ve really gotten away from patronizing black-owned business... for various reasons running the gamut from sheer convenience & lower price points to extreme angst over poorly run business operations & customer service practices. 

But earlier this week, I decided to simply get over myself & do something about it. I opened new accounts with 3 black-owned & operated banks in an attempt to #bankblack & keep it trill in whatever small way I can. Sure, there are certainly banking options outside of my community with branches on every corner, account opening bonuses, higher interest rate yields, so on & so fourth… but to me, it’s an important time for my people to circle the wagons. 

How could I ever successfully impress upon others, things I think they should be doing, if I myself am not an avid practitioner of those very same strategies. With that in mind - I’ve decided to move my money from their house to our house, in hopes that my people will likewise, consider the same.

I choose now to actively seek-out black-owned businesses offering similar services & products that I buy regularly, with a reinvigorated mindset… simply put, I help my own community so much more with each & every dollar spent there instead, moving foreward I intend to do just that. 

Dollar$ & ₵ent$…

Up until December 31st of last year, I had 5 store/credit accounts with varying APRs & purchase limits that I'd typically use whenever I wanted to avoid using cash from my checking account. Well as part of my commitment to lower my overall credit debt, I decided to reduce my number of charge accounts from 5 to 1 (the one with the lowest interest rate). 

So far, I've been a very good boy this year & haven't used any of those 4 cards with the ridiculous APRs. But I've been super-reluctant each time I've thought of cutting these cards in half. 

I just fear that an emergency will come up, where having these cards might come in handy. That's what my paranoia tells me anyway.

Sure... an easy solution might be to simply leave those cards at home - but 3 of those 4 credit accounts can still be accessed at the point of sell, with or without my card. 

So I'm not any safer utilizing that approach & I'm just not sure if I trust my self enough to maintain such good behavior for the duration of the year, lol.

I'll just have to stay strong! The remaining credit account that I am; however, still willing to use has a very good interest rate, but I'll need to refrain from using this account too until I pay-off more of the current balance - I don't like using more than half of any given credit limit & that's exactly what I'd be doing if I used it right now. 

So it looks like there won't be a lot of deficit spending for this guy here in the foreseeable future. If the money ain't in either my pocket or checking account, then I ain't spending it - I'm on a mission here. Along with improving my credit rating this year, I'd also like to save more & possibly invest a bit more of my income, whenever possible. 

But this part isn't so hard for me - it's fun actually, I just love to watch money grow! Whether I'm looking at a loose change jar on the tv stand, a brokerage account statement received in the mail, or at an online savings account balance, it pleases the king to see that there's more there today, than there was yesterday.

Money Matters...

For more than a year I've been attempting to plant the seeds among a few friends to start an investment group - but no takers so far... It would be kinda cool to find another casual investor who shared my enthusiasm for the ups & downs of Wall Street.

I was thinking maybe a group of 5 or so buddies willing to invest $100 per month. As a team, we could decide which stocks to invest in on a bi-annual basis & watch our money grow.

I've done pretty well in gauging the potential success or failure of common stocks, especially tech related companies like Intel, Sony, Apple & Google. Since my goal is NOT to get rich overnight, so outside of tech related holdings, I pretty much invest in obvious, no-brainer stocks like Nike, McDonalds & Walmart.

Another simple strategy that has worked for me since starting to experiment with online brokerage accounts about 5 years back is to invest in products/companies that I frequently use - stocks like AT&T, Verizon, Netflix & Honda.

When Ford stock hit rock bottom, I took advantage & invested. The stock has has recovered well since that time. At this point, I'm becoming hooked! I now find myself checking to see whether the various stock markets (even markets in other countries) have closed above or below their daily averages.

When the recession took hold, sending the economy into the shitter promptng many to pull their money out of stocks, I bought, bought & bought! After all, that's the name of the game - buy low, sell high!

By no means am I a day trader, but every pay period, I set a little bread aside to invest. Fuck waiting for Uncle Sam to pull the rug from beneath me by announcing the termination of social security benefits - I'm growing my own nest egg!

Between my personal portfolios & 401(a) retirement plan, I hope to be taken care of should the US Government decide to hand me an IOU when social security benefits would normally kick in. Are you planning for your later years? It's never too late to plan for your future - you've just gotta start now...