If you've been watching the news you know that the "Sequester" aka forced spending cuts that are set to take place in accordance with the Budget Control Act. These mandatory cuts were set in stone after last years near shut down. In true political form, no consensus has been made as to what cuts should be made and what areas are too important to be affected.
Last night House Republicans introduced a bill that would allow for money to be shifted around so that the Pentagon and Department of Veterans Affairs will not be hit too hard by the sequester. The Republican bill also includes provisions...
Continuing our First Time Home Buying…
One of my favorite people, Britney Jones, just bought a new home. As a prospective buyer myself, I was very interested in learning through Brittney’s experience and picking up a few pointers from her. I was able to catch up with her and ask her some of the questions I had about home buying.
Junious Williams (“JW”): First, tell the readers of MyBlackCoffee a little bit about yourself.
Britney Jones (“BJones”): My name is Brittney Jones. I graduated from the University of Houston-Main Campus on May 13, 2011 with a degree in Education:...
Home ownership is a staple of a financially healthy family. As Dave Ramsey says, “The paid off home mortgage has taken the place of the BMW as the status symbol of choice.” By your mid-20s, home ownership should become one of your life goals. Buying a house is not like going to the grocery store and picking up everything on your list. It requires planning, preparation, and patience.
Planning: Know how much money you can afford monthly for a mortgage payment. You want to avoid being house poor. House poor means spending a large proportion of your income on making a mortgage payment, but leaves...
Monday morning, Roland Martin (@rolandsmartin) went in on twitter about student loans!
I was able to screenshot a majority of the best tweets and posted them below. Mr. Martin brought up a very real topic in our community today. He was very candid, as he always is, and laid it out very plainly for all of his followers. He is a huge proponent of education, but warns that college educations come with a cost. He mentioned how he was accepted to Texas Christian University (TCU), but turned the opportunity down because of his family's finances. He encourages all current and future college...
I got money to blooow oooh oooh ooh oooh ooh
I got money to blooow oooh oooh ooh oooh ooh
I'm guilty of it, we're all guilty of it, wasting money. Look at all the money you waste throughout the month. Imagine the multiple uses for that money. Saving for that iPad you wanted, investing in the future that you want, and paying back those loans you never wanted.
Rich people have a plan for their money before they get it. Their money does what they tell it to do and it brings them returns. Every month layout a budget: set aside money for debt repayment, saving, and investing. This is a key element...
The biggest duel of the 2012 presidential campaign has surfaced and it’s surrounded around proposed budgets. The Romney supported Republican budget has come under great criticism by the President. Not a single Democrat House member voted for this proposed budget, and it will most likely not pass in the senate. Mitt Romney responded by bringing attention to a three-year run of deficits under the Obama administration.
One of the hottest topics this election will be the economy without a doubt. Both candidates must demonstrate the ability to help make this country financially strong again....
It’s true You Only Live Once, but creating a family legacy that goes on forever requires two very important things: Life Insurance and a Will. One of the keys to building and maintaining generational wealth is not having to start all over. Having life insurance and a will plays a key role in ensuring ones legacy is protected once you’re gone. According to recent surveys, adults with life insurance has declined. Only 41% of adults in the US own life insurance. Not having a plan in place for when you die is a heavy burden on your family.
On top of the grief of your loss, your loved ones...
Take a second to check through the table below:
Household Median Wealth
Source: Insight Center for Community Economic Development, Lifting As We Climb: Women of Color, Wealth, and America’s...
You Wasn’t With Me Liftin’ In The Gym!
I was in the gym earlier this month (very rare) and I started thinking. Personal fitness is very similar to personal finance. You set goals, you work toward them every week, and your success won’t happen overnight. If you want to be strong, you’re going to have to work out three to four times per week. Make sure you eat right and maintain the proper diet, so your body gets everything it needs to get stronger. Also, build a workout plan that gets the results you want.
Similarly, if you want to be financially secure, you’re going to have...
Where do you want to be in 5, 10, 20 years?
You have the rest of your life before you. Do you see yourself owning a home, running a business, or proposing to your spouse? In some way, money is going to play a huge factor in accomplishing your dreams. Save and invest your money in your future. Hold off on the things in the present for the things of your future.
Your dreams won't happen overnight, but with patience and diligence your dreams will come true.