Financial information is the key to change.

Unfortunately, for most of us, basic financial information is not taught in schools. We live in a country that continues to pass out diplomas to people who lack healthy financial skills, creating a society not prepared to handle the financial ups and downs of everyday living. The road to financial freedom is paved with information; join me on my journey.



Lucille Tyler Baldwin

Author of "Sick and Tired of Being Broke"

lucybaldwin27@yahoo.com





Showing posts with label blacks and money. Show all posts
Showing posts with label blacks and money. Show all posts

Wednesday, June 1, 2011

The Hand that Rocks the Cradle...


 
William Ross Wallace wrote: “the hand that rocks the cradle is the hand that rules the world….” This is a powerful statement and a very powerful position to hold.  This statement is much deeper and more important than the poem that Mr. Wallace wrote.  Imagine for a moment that we take this statement to heart just when it comes to the financial education of our children: the children that we rock, guide, and watch over!
 These 13 words should be read slowly and allowed to be absorbed into our souls and minds.   Take a moment and close your eyes -- and realize that you have the power not only to create financially smart children, but future generations by empowering your children to pass down better habits and financial information.  “The Hand that rocks the cradle – is the hand that rules the world…”  Do you want to raise children that will spend a life time living with debt or children who understand the power of their financial choices?  Children who are raised with the understanding that their income level is not as important as the financial choices that they make - will make wiser choices. 
Most women are raised to view money as a way to create a better lifestyle for themselves and their family.  We tend to spend money on items that will enhance our day-to-day living with little thought for the future.  I spent a few weeks recently hanging out at different stores watching the spending habits of men and women.  What I witnessed was that women spent hundreds of dollars on items that will have little or no value in the future.  Women were buying items such as: designer/non-designer clothes, knick- knacks, toys, shoes, pictures, items to decorate the home, comforters, pillows, cute mugs, pretty drinking glasses, candles, perfumed soaps, gifts for baby showers, gifts for birthdays, gifts for teachers, wrapping paper, gift bags, or just shopping therapy!
     It is time for us to take our roles seriously and break the paycheck-to-paycheck lifestyle and consumerism mentality.  To break the cycle someone must be willingly to do the work, are you?

Sunday, November 28, 2010

Growing: The Wealth Gap

The wealth gap between the haves and the have-nots in this country continues to widen. We are fast approaching a new year. Do we continue using the same kind of thinking and actions in the new year that has prevented us from living debt-free and creating wealth?

Do we continue feeding our minds with chaos such as reality television shows that teach us that behaving badly is okay, movies that teach our children how to become the next jack a** stars, or shows that teach our daughters that being a bad girl is cool? Do we continue spending billions of dollars on violent video games that seem to sap our children of creativity, respect and patients?

Do we continue to stand in long lines on Black Friday to spend borrowed money? Do we continue creating debt that will take us years to repay? Do we continue putting on a happy face pretending that life is great? Will we spend another year thinking of reasons not to take charge of our financial situation? Will we spend another year helping to create additional wealth for the haves?

We are surrounded by information that can help us improve our lives on every level.  How will the haves spend the new year?  Will they invest in learning are things? Freedom of choice is powerful.  How will you spend the new year? 

Lucille Tyler Baldwin
author of "Sick and Tired of Being Broke"
http://www.thejourneytowealth.blogspot.com/

Thursday, October 28, 2010

A Rose By Another Name: Interest or Fees

Credit Card or Debit Card?

What is in a name?  A reloadable or prepaid card looks like your credit card or debit card.  The difference between a prepaid card and a credit card is that you are limited by money you load on your card.  The big draw to the reloadable and prepaid cards is that, unlike credit cards, there is no interest charged for using these products.

In place of interest charges, however, they ...

Lucille Tyler Baldwin
Author of "Sick and Tired of Being Broke"
http://www.thejourneytowealth.blogspot.com/

Tuesday, October 12, 2010

"How I Escaped Domestic Violence Through Financial Empowerment"

Post from Rich Single Momma  http://richsinglemomma.com/weblog
By Rich Single Momma
October is Domestic Violence Awareness month. It’s a time to take a good long look at this problem in our world. Despite all we’ve learned about this problem it still persists in thousands of households each year. People who are not in that situation can’t understand why a woman would stay so long and almost lose her life. Why would she subject her children to such a life of violence?

No Escape?

What those same people don’t realize is a woman in this situation probably feels helpless to leave. She may be a stay at home mom who is isolated from family and friends because of her husband’s (or boyfriend’s) threats and manipulations. She probably doesn’t have the financial resources to leave because she is dependent on him for survival.

My Experience

From firsthand experience I can tell you being in a situation like this sucks the life out of you. Domestic violence is not necessarily a sudden thing. It creeps in your life little by little and women with very blurry boundary lines are easily victimized. It starts out with verbal put downs and criticisms. Then it escalates into yelling and screaming to shock the senses and terrorize. The next step is shoving or slapping, which escalates into punching and beating. All the while you are being manipulated into giving up your friends and stop hanging around your family.
If a baby comes you are likely to remain at home and interrogated if you leave the house. You are dependent on the provision of your partner. This is one of the most insidious forms of abuse; being a financial hostage. You have very little or no access to money and every penny you get is taken away.

Holding on to My Identity

My situation was not this bad but it could have gotten to this point very easily. Things never progressed to the shoving, slapping or into being beat. I came to my senses before it escalated to that point. I did, however experience the verbal and psychological abuse. Money could have easily become an issue but I refused to give up my financial identity. Toward the end, my bank account was almost wiped out, but I had another account that I could transfer my money into. I recognized the downward spiral I was in and determined to regain control of my life.
Going through this was very terrifying and heartbreaking. I was angry, scared and confused, but I had to keep my head on straight. My children depended on me to get us through this nightmare. Fortunately I had resources before I got involved with this person so I could escape much easier than a woman who has been in bondage for years.

Financial Savvy is Key

When a woman begins seeking a way out all the literature she reads and people she talks to tells her to stash away money. That is the only way for her to escape a situation like domestic violence. Without money she is stuck indefinitely.
escape domestic violenceFinancial independence is very liberating so it is important to cultivate a financial mindset. It is never too late to learn all you can about earning, saving, and budgeting. Giving up your financial identity is never a good idea in a relationship, but being empowered with financial knowledge is essential. Cultivate your financial savvy and never give up your personal identity for anyone.

I Found My Power

My situation turned out much better than millions of other women. I already had a very strong sense of who I was (I temporarily lost my way) and could tap into my strength. I knew how to get out and get help and I was angry enough (versus too scared) to do something about my situation. I was driven by a sense of fairness and protection for my children. I wasn’t dealing with a crazy man, just a coward who I escaped rather easily when I threatened to expose him to our church. Sometimes that’s all it takes, but other times it’s more difficult.

Educate, Empower, Think

Domestic violence will not go away over night. Young girls must be taught they are worthy of love and respect. They must be taught not to fall for the first guy that says, “I love you”. They must be empowered through education, critical thinking skills, and financial savvy.
Make it your business to empower yourself and every young lady you know. Learn to make good decisions in every area of your life. Develop a strong sense of who you are and never let anyone label you or tell you who you are. Ask a million questions of potential suitors and trust your instincts.
If you are in a domestic violence situation get help ASAP by calling a domestic violence hotline.
Lucille Tyler Baldwin
http://www.thejourneytowealth.blogspot.com/

Monday, October 11, 2010

Double a Penny for 30 Days

Can You Afford to Double a Penny Everyday for 30 days?

Days 1 thru 10          Days 11 thru 20         Days 21 thru 30 

.01                              $10.24                         $10,485.76
.02                              $20.48                         $20,971.52
.04                              $40.96                         $41,943.04
.08                              $81.92                         $83,886.08
.16                              $163.84                       $167,772.16
.32                              $327.68                       $335,544.32
.64                              $655.36                       $671,088.64
1.28                            $1,310.72                    $1,342,177.28
2.56                            $2,621.44                    $2,684,354.56
5.12                            $5,242.88                    $5,368,709.12

http://www.thejourneytowealth.blogspot.com/
Lucille Tyler Baldwin
Author of "Sick and Tired of Being Broke"

Wednesday, September 29, 2010

Saving Money: Make It Automatic

Let's be honest, most of us do not think twice about saving money until we need money.  The problem is that when we need money there is no extra money available -WHY? - because...
Lucille Tyler Baldwin
http://www.thejourneytowealth.blogspot.com/

Thursday, September 23, 2010

Do You Need Disability Insurance?

Are you the head of your household?  If you suffer an illness or accident that prevents you from working for a few months or years, would it put a strain on your ability to pay your bills?  How much money would you  need to handle your monthly expenses?

Life insurance is purchased to protect your loved ones from financial devastation in the event of your death.  In reality, you stand a better chance of losing time from work due to an illness or accident.  The loss of income can be draining, not only on your ability to run your household, but also to your family's sense of security.  There are two types of disability insurances: short-term and long-term.  For additional information get your copy of Sick and Tired of Being Broke.

Lucille Tyler Baldwin
author of "Sick and Tired of Being Broke"