We are strong believers in the concept of Ujamaa (collective economics). We invited each of you to join the Blackonomics Million Dollar Club and shared with you the information about the consumer spending power in our community.
At the end of the day, each of us needs to began an individual wealth initiative. One of the first steps that we can each take is to seriously consider the Declaration of Financial Empowerment shared with us by Black Enterprise.
From this day forward, I declare my vigilant and lifelong commitment to financial empowerment. I pledge the following:
- To use home ownership to build wealth
- To save and invest 10% to 15% of my after-tax income
- To be proactive and knowledgeable about investing, money management, and consumer issues
- To measure my personal wealth by net worth, not income
- To engage in sound budget, credit and tax management practices
- To commit to a program of retirement planning and investing
- To teach business and financial principles to my children
- To support the creation of profitable, competitive, Black-oriented enterprises
- To use a portion of my personal wealth to strengthen my community
- To ensure that my wealth is passed on to future generations
I accept and make this commitment to financial empowerment. Any other villagers willing to take the pledge with me?
