by Dr. Charles Alonzo Peters Sometimes you just have to laugh at the crazy things people do with their money. OK, maybe not directly in their face, but in the back of your mind you're wondering "What the heck?" You know the friend that never has two cents to their name but who's always eating out or chomping down on some KFC. Yes, that strong urge to ask why they don't … [Read more...]
Money Monday: Is Television Causing Us to Spend More?
by Dr. Charles Alonzo Peters I have to admit VH-1's "Basketball Wives" is one of my guilty pleasures. Does it matter that very few of these women can actually call themselves "wives," or that most of the scenes are scripted beyond belief? But what really caught my attention was the most recent episode. Shopping with her man, Ashley Walker enters the upscale shoe boutique … [Read more...]
Money Monday: Should You Shield Your Kids From Family Financial Problems?
You want to protect your kids from the world. Keep them safe and warm - let them live their childhood happy and care free. But times are tough. Foreclosures are rampant. The African-American unemployment rate is above 15% and one in four American children are now the beneficiaries of food stamps. Despite our best efforts, the financial pressures adults face are felt by … [Read more...]
Money Monday: Should You Lend Money to Friends or Relatives?
Writers at Money magazine asked the question: Which would you rather have - a bad case of the flu or a relative ask you for a large loan? Not surprisingly, more than two thirds of the survey respondents answered they would rather suffer through the flu. Lending money to relatives can turn into a real sticky situation, altering the dynamics of the relationship. As the … [Read more...]
Dr. King’s Other Dream – Forgotten and Unfulfilled
Every third Monday in January we take the time to reflect on the life and influence of Dr. Martin Luther King. While much is made of Dr. King's dream of racial equality, often forgotten is King's unrelenting quest for economic justice. It was his support for Memphis sanitation workers and their strike for higher wages that led Dr. King to Memphis and that fateful day on the … [Read more...]
Money Monday: Sharing the Financial Load
Money management, like other areas of marriage, requires a true partnership. But sometimes it's simply easier for one spouse to hand over all the responsibility to the other. How many times have you heard, "My wife handles all the money" or "I don't pay attention to the finances - my husband good with math"? Of course it may seem effective. My dad handed over his paycheck … [Read more...]
How to Make New Year’s Money Resolutions That Stick
by Dr. Charles Alonzo Peters It's 2011 and this is the year you're finally going to get your financial life in order. Like millions of Americans you pledge to make this year different and finally take control of your money. Yet the sad truth is that most New Year's resolutions fail. How do you make sure your New Year's money resolutions last longer than the melting … [Read more...]
Money Monday: How To Find The Perfect Holiday Gift
by Dr. Charles Alonzo Peters With Christmas just days away we're all rushing to find those special gifts for loved ones. You know the gift that'll make someone flash a genuine smile, instead of the faint "Why'd this Negro go get me this ugly sweater?" smile. Behavioral economist Daniel Ariely may have the answer to what makes that perfect gift. In his books Predictably … [Read more...]
Money Monday: Will Money Lessons Learned During the Great Recession Be Quickly Forgotten?
by Dr. Charles Alonzo Peters Nearly 45 billion dollars was spent during the recent Black Friday weekend. Cyber Monday saw its highest single day online dollar volume in history, topping the $1 billion dollar mark for the first time in history. From the looks of it you'd hardly know we're in the middle of one of the greatest recessions in US history. A recent Newsweek … [Read more...]
Money Monday: Are You Creating A Wealth Mindset?
by Dr. Charles Alonzo Peters How do two people with the exact same income end up at financially opposite ends of the spectrum - one wealthy and financially free, the other struggling to keep their head above water? Why is it that people with seemingly limited means are able to build great wealth? Take Oseola McCarty for instance. Growing up in the segregated South this … [Read more...]
Money Monday: Stop the Christmas Gift Giving Arms Race
by Dr. Charles Alonzo Peters Black Friday officially kicked off the holiday gift shopping season. The mad rush to find the perfect gifts has begun. But this year we Americans perform the annual shopping ritual in more debt than ever before. The average household has nearly $15,800 in credit card debt. Yet if Black Friday is any indication, we'll still be out in full force … [Read more...]
Money Monday: Black Friday – Sham or Bargain Shoppers Paradise?
by Dr. Charles Alonzo Peters I've never really gotten the point of leaving the comfort of home to trek out in early morning darkness to stand in line for a Black Friday sale. The frigid cold weather itself is enough for me to turn the covers over and fall back asleep in my warm bed. Maybe it's the fact I don't like shopping in crowded stores or the long lines. Perhaps my … [Read more...]
Money Monday: How Do You and Your Spouse Communicate About Money?
by Dr. Charles Alonzo Peters Yes we'd egged our dad on. My brother and I were the vocal cheerleaders encouraging his decision to purchase the burnt orange Lincoln standing on the used car lot before us. We'd never thought we'd ever be the owners of a luxury car. Never mind the fact it was nearly seven years old and had been in an accident. A fact made obvious by the … [Read more...]
Money Monday: Lessons From My Grandparents
by Dr. Charles Alonzo Peters My grandparents amaze me to this very day. Their calm wisdom and simple ways stand in stark contrast my hectic, frantically charged life. They display a common sense approach to finances that's all but disappeared in our world of credit cards and naked consumerism. Today, we make more money and have more opportunities than our grandparents but … [Read more...]
Money Monday: Why Is It So Hard to Talk About Money?
by Dr. Charles Alonzo Peters Riding the subway I couldn't help but listen to the young sister next to me let all her business hang out. Yes the whole train became privy to her sexual exploits, family conflicts and the other very personal aspects of her life - how could we have missed it the way she screamed into her cellphone. Yet there's one thing I hardly ever hear … [Read more...]