Over the past several months, the economic outlook has become
increasingly dismal. NBC Nightly News has been covering the crisis from
every angle — from high gas prices to the mortgage mess to the recent
purchase of Bear Stearns by JP Morgan at a rock-bottom price — and now
we'd like to hear from you.

What kind of adjustments have you made in
the face of a weakening economy?

Since it's the weekend, I've decided to close it with a little fun.

I consider myself to be very savvy with my finances.  In fact, I've advised many people and have taught many classes and seminars on how to handle money God's way.  How did I arrive here?  Well, through my experiences.  You do know that experience is the name we give our mistakes.  Therefore, I have a lot of experience handling money because I've made a lot of mistakes. 

HERE WE GO…

One night I was up late eating Oreo cookies & drinking a ice cold glass of milk (don't tell my wife) while watching an infomercial of a guy name Joey Silverman selling his "Hollywood Celebrity Dog Training Video" and boy was he convincing.  His program made it look easy, simple, and fun!  I thought, since we have a new dog (he's long gone now) and I was up to the challenge, why not buy it!  Well, I bought it and all I received were a video tape (how can I watch a tape & train the dog @ the same time – JUST DUMB) & a lame instructional manual.  Guess what, it didn't work and he got my three low payments of "only $19.99."

What was your dumbest purchase ever…C'mon, share it!!!

African Americans are steadily increasing their wealth, boosting their
holdings in real estate, stocks, and savings vehicles, as they seek to
fund college educations for their children and create a secure
retirement for themselves. It's a process of becoming ever more keenly
aware of the need to save, invest, and plan for the future.

Black Enterprise Magazine has created the Circle of Wealth, a black
wealth initiative that seeks economic empowerment for African Americans
by changing attitudes toward money management. The Circle is an ongoing
cycle comprised of 1.) Knowledge, 2.) Commitment, 3.) Investment, 4.)
Portfolio Management, and 5.) Wealth, all enabling Reinvestment in
Children, Businesses, and Community.  As part of this powerful initiative, the magazine developed the
Declaration a Financial Empowerment, the following 10–point
wealth–building pledge (I added the 11th point
 
In order to attain a measure of
success, power and wealth, I shall uphold the principles of saving and
investing as well as
controlled spending and disciplined consumerism. I vow to fully
participate in the capital markets and make a solid commitment to a
program of wealth accumulation.
Determination and consistency will serve as my guides, and I shall not
allow external or internal forces to keep me from reaching my goals. By
adjusting my course and embracing a new mandate that stresses planning,
education and fortitude, I lay a strong, unbreakable foundation for the
preservation and enrichment of my family, children and children's
children. 
From this day forward, I declare my lifelong commitment to financial empowerment.

DECLARATION OF FINANCIAL EMPOWERMENT

I pledge the following:

1. To use home ownership to build wealth

2. To save & invest 10-15% of my after-tax income

3. To commit to a program of retirement planning and investment

4. To engage in sound budget, credit, and tax management practices

5. To measure my personal worth by my net worth, not income

6. To be proactive & knowledgeable about investing, money management, & consumer issues

7. To provide access to programs that will educate my children about business & finance

8. To support the creation & growth of profitable, competitive black-owned enterprises

9. To use a portion of my wealth to strengthen my community

10. To ensure that my wealth is passed on to future generations

11. To give @ least 10% (or more) of my wealth to my church to honor God and expand His Kingdom

TODAY IS THE DAY I TAKE CONTROL OF MY FINANCIAL DESTINY!

COME JOIN US AND MAKE THE COMMITMENT!