LEAVE A LEGACY:
GENERATIONAL WEALTH
TALKIN’ LOVE & MONEY WITH FLEX & SHANICE ALEXANDER
RING IN 2018 WITH dfree®:
WHAT’S NEW?
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GET AHEAD ADMITTHE PROBLEM. ADDRESS THE MESS. ADDRESS THE ATTITUDE FINANCIAL FREEDOM IS IN YOUR REACH www.mydfree.org
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CONTENTS FEATURES
6. Talkin’ Love & Money with Shanice & Flex Alexander These celebrities got to a good place by loving more and fearing less!
17. Leave a Legacy: dfree® Focus on Generational Wealth We’ve always been told to leave the next generation better off than this one. Here’s how.
41
33. Ring in 2018 with dfree®: What’s New? In The Black podcasts, Billion Dollar Challenge website & more!
WEALTH
26. No Car Note
17. Leave a Legacy: dfree Focus on Generational Wealth
®
LIFE 6. Financial Freedom is Power: Love & Money
20. Become a Victor, not a Victim, of Your Finances
10. Life Tools & Tips
You have the ultimate power over life. You can deal with any obstacle if you have a strategy.
MONEY
22. Wealth Tools & Tips
12. A Blueprint for Rebuilding Your Finances
YOUNG & FREE
It’s time to get your financial house in order. Follow this blueprint.
24. Young, Wild & Financially Free
15. Money Tools & Tips
The Breakfast Club’s Angela Yee wants you to set up your financial future.
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Rapper DEE-1 lives large by livin’ dfree®!
WOMEN LEADERS 28. From One Mother to Another Advice from Media Executive Michele Thornton
31. Get Control: Lessons from our Grandmother Attitude and action go hand in hand. If our grandmothers could do it, you can do it.
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INSPIRATION
OUR PEOPLE
33. Ring in 2018 with dfree®: What’s New?
41. dfree® Ghana Trip: Africa, Land of Opportunity
35. Aha Moment
God can take our small acts of service and magnify them.
Life Coach Dee Marshall shares her dfree® testimony.
44. Lean On Each Other To Get Out of Debt
NEST EGG
We don’t need to go it alone. Lean on each other to prosper.
36. 7 Habits of FInancially Free People
47. FINAL WORD
Advice from Prudential’s Maddie Brooks
38. Making Your Money Work for You: The Power Plan Make power changes, power payments and power savings to succeed.
Spoken Word Artist Alyea Pierce on Financial Slavery ON THE COVER:
Comedian, Dancer, Actor and Entrepreneur Flex Alexander and his wife, Grammy-Nominated Recording Artist Shanice, rely upon the power of love to get them through life’s challenges.
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LIFE
FINANCIAL FREEDOM IS POWER: LOVE & MONEY
Flex and Shanice Alexander are one of the sweetest, loving, God-bound couples ever to step foot in Hollywood and if you ever saw them flirting with each other you’d never suspect that they were once broke, homeless and in deep debt. Their faith and patience helps them know what they want you to believe – there will always be a storm but you can make it through. “Don’t let the dollar determine your destiny,” Flex
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said in a 2016 Essence magazine interview. Recently, Flex, a dancer, actor and comedian and Shanice, a Grammy-nominated singer and songwriter, took time to participate in a dfree® Twitter chat with Tamika Stembridge, where they said they share their personal story to give others hope. (Read the full chat from Oct. 17, 2017 at #InTheBlack or @mydfree.) “You can start over. There is nothing to be ashamed of,” Flex tweeted in response to a question about what he learned from losing everything. “Learn from mistakes.” But Flex noted that he was quite reluctant before he admitted to Shanice that he had financial problems. “When I finally opened up, Shanice said, ‘Why didn’t you just tell me? You’ve got nothing to be embarrassed about,’” Flex tweeted to the delight of chat participants. Shanice, who said she always saved her money when she was younger for fear of being broke, tweeted she learned the following from experiencing bankruptcy: “1 You get a fresh new start 2 learn from your mistakes 3 Don’t be embarrassed 4 Live below your means.” Flex said the couple is still learning to prioritize needs over wants and to stick to their budget. He said one of the biggest problems in the black community is our culture of shame and that we have to get over that to do what is necessary to get back on track -- including getting a fresh start through bankruptcy if that is necessary.
“Don’t let the dollar determine your destiny.” LIVING
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LIFE
In a recent interview in dfree® Partner Pruden-
ring her soulmate in the face. She thought about
tial’s Cultural Insights video series, see https://you-
that while on tour, and the romance began. In keep-
tu.be/rTXuke7jumI, Flex said he had to deal with
ing with their faith, the couple remained abstinent
many money related issues growing up including
until they married on February 14, 2000.
wanting to “keep up with the Joneses” and feeling
They say that their relationship works well be-
less than a man if he couldn’t properly provide for
cause: of their faith; they support each other, when
his family.
one is low the other goes high; because they make
“I didn’t grow up with that training in finances,” Flex says. “I didn’t grow up with a father at home. I watched my grandmother and mother work checkto-check, so that’s all I knew.” Shanice, who started her singing career as a
time for each, such as date nights; and, they communicate as much as possible. Now, they continue to work hard to leave a strong, lasting legacy – particularly where money is concerned.
young child, said she always had managers to take
“We’re taking it day by day,” Flex said. “We want
care of her money so she never learned to do it on
to break that cycle so that our children’s children’s
her own. Even though the couple had a business
children are straight.”
manager, their bills weren’t being paid or the income did not meet the expenses. Flex was literally on his way to an audition while Shanice was at home with the kids, preparing for a show that night, when a sheriff knocked on the door of their home and yelled that they had five minutes to leave because they had been evicted. While money problems can often tear couples apart, Flex and Shanice relied upon their faith in God and love of each other to pull them through their storm. The couple met years earlier when Flex moved into Shanice’s apartment building. They became great friends and didn’t start a romantic relationship until Shanice was preparing for a big tour with *NSYNC. Shanice had often talked to Flex about searching for her soulmate and before she left, in dramatic fashion, he told her that she might be star-
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PARTNERS MAKE IT POSSIBLE! dfree®'s RESOUNDING SUCCESS HAS BEEN BUILT THROUGH STRONG PARTNERSHIPS AND VALUED EFFORTS. THANKS, AGAIN, FOR ALL YOU DO TO GROW THE dfree® FINANCIAL FREEDOM MOVEMENT.
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LIFE LIFESTYLE TIPS
1
GET IN THE HABIT OF SEEKING OUT AND ACTING ON INFORMATION THAT HELPS YOU SAVE MONEY, such as mortgage or loan refinancing. Make sure you read fine print and can spot “bait and switch” scams.
2
MAKE A LIST OF YOUR VALUES. Examine if your lifestyle habits are in line with those values.
3
BECOME A CONSUMER BY ESTABLISHING A HABIT OF DOING basic research before buying things so you can better understand the value, the expected shelf-life and the use.
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READ daily meditations from Meditations for Financial Freedom, Volume 1 or Volume 2 by DeForest B. Soaries, Jr. www.amazon.com
READY, SET, GO TOOL
LIFE
TOOLS & TIPS Are you constantly wondering
focus on your needs. Take the mon-
where your money goes? If you want
ey you’ve saved from cutting back
to develop a lifestyle of saving, first
on wants and add it to your savings
you have to get used to tracking
account. If you don’t have a savings
your spending. Keep a log and write
account, open one. If you have a
down everything you spend for at
credit union near you, check it out
least one week. You can use paper,
as an alternative to a traditional
electronic notes or a free app such
bank because credit unions often
as Wallet, Penny or Spending Track-
offer lower fees.
er. Once you see how you’re spending, mark items by needs vs wants. Next, start eliminating wants and
IT IS TIME TO REWARD YOUR LOYALTY AND DEDICATION! INTRODUCING THE NEW DFREE® LOYALTY PROGRAM The loyalty program certifies member churches, organizations and friends of dfree as official graduates of the 12-week program and acknowledges their loyalty and continued dedication to the financial freedom movement by providing benefits and tools for long-term success. For more information call 1-844-MY-DFREE
LOYALTY PROGRAM LIVING | 11 IT IS TIME TO REWARD
MONEY
A BLUEPRINT FOR REBUILDING YOUR FINANCES by DeForest B. Soaries, Jr.
There are lots of TV shows today about house
gas station being rented by a handful of people for
flipping and other renovations. I used to enjoy
$4 a week resulted in an 80,000-square-foot wor-
watching This Old House on public television and
ship center being constructed on an adjacent site
seeing the transformation of a run-down dilapidat-
in 2003. The newer facility’s auxiliary chapel alone
ed home into a beautiful showplace. The construc-
is almost as large as the main sanctuary in the old
tion crew and carpenters made it look so easy and
church. Obviously, this transformation did not hap-
methodical, replacing worn-out beams with new
pen in a week; it took decades. Even after we had
wood or updating features with the convenience of
broken ground on the new building site, it was still
technology.
several years before the structure materialized.
My own experiences, however, particularly with
Renovating and rebuilding your financial house
the building of a new church, tell me that the pro-
takes time as well. You did not arrive at your cur-
cess of renovation is an arduous undertaking. For
rent level of debt overnight. A financial renovation
our church, what started in 1937 as an abandoned
requires a sound blueprint for rebuilding the struc-
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ture of your relationship with money. You must de-
peers and others who understand where you’re
velop a spending plan that will serve as your guide
coming from and, better yet, where you’re going.
in knowing where to rebuild, who to enlist for help,
Your supporters are there to help keep you ac-
and how long it’s going to take to complete. You
countable but also to share your milestones, rec-
must estimate the cost, or create a spending plan,
ognize your success and celebrate it. They need to
so that you won’t run out of resources before your
know what your aiming for by when so, in addition
house is built. You must establish a strong founda-
to specific goals, you must have a schedule.
tion.
While there are a variety of ways to attack your
If our financial house is infested with parasitic
debt, a basic way is simply to create a pay-off cal-
debt and about to collapse in upon itself, then we
endar. You make a list of all money you owe – mort-
must remove the rotted wood and start building a
gage, credit cards, car payments, school loans,
house that can withstand our weaknesses. A writ-
everything – and then the amounts you owe for
ten spending plan accompanied by a thoughtful
each, the amount of the monthly payments, and
strategy that identifies your past weaknesses and
the length of time at this rate of payment to fulfill
provides alternate behaviors can become your
your debt.
blueprint to freedom.
It can be daunting. However, today there are
An effective blueprint for success clearly iden-
many apps and online tools to help, including one
tifies your central goal. Do you want to pay off all
I created, Billion Dollar Challenge, which chal-
credit card debt? Save 15 percent of your monthly
lenges Americans to eliminate at least $1 billion in
income to purchase a car? Pay bills on time and im-
debt by 2020. Just remember, you’re not alone.
prove your credit rating? You must be as specific as
The Gallup organization reports that two thirds of
possible in identifying and articulating the particular goals that will form the pillars of your plan. Having a goal without a system for reaching that goal is like having wood, nails, and sheetrock without having land to build upon. Assembling needed support should be part of this system. Great athletes have trainers and coaches; great leaders have mentors and advisers; great businesspeople have dedicated teams and administrative support. Your goals to financial freedom are more likely to be achieved when you’re sharing the project with
“A financial renovation requires a sound blueprint for rebuilding the structure of your relationship with money.” LIVING
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Americans are living without a spending plan or a
to ten times more likely to achieve their goals.
budget; among African Americans and Hispanics,
Next, you must consider specific strategies for
the numbers are predictably the highest. Research
achieving your goals. Think about things you’ve
throughout the past decade consistently reveals
done in the past that have worked. Perhaps you
that roughly 70 percent of people in this country
resisted buying those shoes, opened a savings ac-
are living paycheck to paycheck. Without a spend-
count or reduced your cable plan to save money.
ing plan or a budget, you will never achieve your
Maybe you stopped using check-cashing facilities
freedom.
and payday lenders or you started investing even
The barrier to financial freedom is debt. When
$5 per paycheck in a company stock option. If you
starting your plan, identify three to five specific
invest $100 per month for 40 years, from the time
challenges that have to be addressed to advance
you’re 25 to 65, in the right kind of investment,
your financial status. For me, it was credit cards;
you’ll have $1 million! Imagine what type of house
it was eating in restaurants. It really revealed my
that could build.
mentality at the time. I thought I needed designer
I think we agree, it’s time to get your financial
clothes to be important. I had to change the way I
house in order. Now you have the blueprint. Let’s
thought.
get to work and let’s move forward together.
It may simply be not earning enough money. Don’t identify a challenge that is external. Don’t be a victim. Don’t blame any of your circumstances on anyone else because, once you do that, then you basically have forfeited any possibility of pulling yourself along this journey. No one can do for you what you fail to do for yourself. Once you’ve identified them, begin writing down your financial goals. I am not talking about dreams. I dreamt of living in a big house and I couldn’t even afford an apartment. I dreamt of owning a big company and I didn’t even have a savings account. Write down some very specific goals. Where would you like to be by this time next year? How much debt do you plan on paying off by next month this time? Research has shown that people with goals are nine
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MONEY
BUDGETING TIPS
1
ASK A GOOD FRIEND TO BECOME YOUR BUDGET COACH. Let that person know what your goals are and ask them to help keep you on track by doing things like shopping with you or reminding you when you are missing an opportunity.
2
TAKE ADVANTAGE OF FREE SERVICES OFFERED BY BANKS, credit unions and other financial lenders or investors, including budget tools.
3
WHEN CREATING A BUDGET, CONSIDER CREATING A HARD RULE TO SAVE 10 PERCENT of your income first, and then see what’s left to spend in other important categories such as basic needs, debt, emergencies and investments for retirement.
MONEY MATTERS TOOL DO
MONEY TOOLS & TIPS
Budget is not a dirty word. When you create and stick to a budget, you’ll have more success in eliminating debt, saving money and being able to afford both the things you need and want to do in life. Your budget allows you to live dfree®!
You’ll achieve: no debt -- Pay as we go use cash and
debit cards rather than credit cards. Live without debt. no
delinquencies -- Pay bills on
Exercises in dfree® Lifestyle by DeForest B. Soaries, Jr.
time avoid late payments and late fees.
For example, get ready for 2018 by creating your Commitment #1 – a list of short-term financial goals that you would like to achieve in the next 12 months. Example: Create an emergency savings fund of at least $3,000 by Dec. 2018. Save the $250 needed per month by eliminating premium cable.
spend less than we earn.
no deficits -- Live below our means
If you don’t think you’re good at budgeting, why not try a free budget app such as: Mint, Mobills and Spendee.
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Get a ride in minutes. Download the Lyft app and go.
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WEALTH
Closing the wealth gap and leaving future generations better off than those who came before are important outcomes of the dfree® Financial Freedom Movement. To help families jumpstart deep and sometimes painful conversations about becoming financially free, dfree® hosted its first-ever Generational Wealth Series in October 2017, powered by Prudential and cosponsored by the Central Jersey Community Development Corporation. The series gathered hundreds of movement participants to hear from financial experts and to discuss challenges to and solutions for leaving financial legacies. The sessions were broken into two workshops for women, one for men and one for young people so that the participants would feel comfortable and encouraged to participate in important conversations
LEAVE A LEGACY:
dfree® focus on generational wealth
designed to lead to action. During Million Dollar Men, Financial Advisor George Barnes and Entrepreneur Raashan Peterson joined about 35 attendees to discuss the practical aspects of money and wealth building, from a man’s perspective. More than 150 millennials turned out for an evening at Prudential Tower to network and learn from Radio and TV Personality and Entrepreneur Angela Yee. About 60 women participated in the Ladies…What’s It Worth workshops.
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WEALTH
money=now; wealth=future
selves – including their financial health. Tamika sug-
“I used to think that wealth was having enough
gested women shouldn’t be selfish but need to be
money to buy the things that I wanted,” said dfree®
more strategic so that they aren’t shorting them-
Executive Director Tamika Stembridge, as she set
selves to help someone else.
the tone during the first women’s workshop. “Now
“A lot of our joy comes from caring for others but
I realize that wealth is a mindset. It’s a mindset of
it’s also depleting us,” agreed Gale. “We think tak-
peace around knowing that if anything happens…
ing care of us is going to get our nails done. Well,
if it all falls down tomorrow, there’s a plan in place
that will last for what an hour?”
that could supplement me, and the people that I care about, whether they are born or unborn.”
Toneisha added that another obstacle is that women often devalue themselves in the workplace
“Money is very transactional and it’s here today
as well, likely due to fear. She advocated for know-
and gone shortly thereafter. Wealth lasts for gener-
ing what your skills are worth so that you can nego-
ations,” agreed Panelist Gale Britton, vice president
tiate the right salary, promotion, benefits, etc.
for diversity and inclusion at Prudential.
“You know when men go to jobs and they ask
Toneisha Friday, planning concierge at Coin Fi-
what salary they want they say way more than what
nancial, said that people who want to build wealth
they actually deserve,” Toneisha said before re-
shift their focus to contingency and longevity. They
counting a story that happened the previous week
have back-up plans to smoothly handle inevitable
at her job. She said a group was given a task with
challenges and they have plans to make their mon-
a specific budget. While she and other women in
ey last, she said.
the group stuck to the budget, a male in the group
dfree® Marketing Director Charnelle Anderson
who completely blew the budget was rewarded for
noted that her grandmother always had a financial
his plan – even though he did not follow the original
plan, maintaining a separate “kitty,” or pool of mon-
rules.
ey, for regular bills, contingency and legacy. “Even if you talk to her today, with dementia, if you bring up her house in Virginia, she’ll say ‘that’s
“We have to take a step back sometimes and regain our confidence and understand our worth and ask for what we need,” she said.
for my grandchildren,’” Charnelle said. plan, budget, secure don’t deplete yourself; know your worth
During the second workshop, panelists Olivia
The conversation then quickly turned to how
Stoner, Esq., Merrill Lynch’s Judith Lee and Pruden-
women, in their nurturer roles, often take on too
tial’s Maddie Brooks got into the brass tacks of es-
many burdens and fail to take proper care of them-
tate planning, legacy leaving and why it’s important
18 | LIVING
to consult financial advisors. “Unfortunately, so many people are caught up in the guilt of what hasn’t been done that it prevents them from moving forward,” Maddie said, adding that it’s never too late to start planning. As a financial advisor, she said she often starts with the ba-
to learn more
sics of helping people put together a budget and
from the Generational Wealth Women’s Workshops view the videos on Facebook.
then works with them, step by step, through better
www.facebook.com/mydfree/videos/1866899313327821/
money management.
& www.facebook.com/mydfree/videos/1875744212443331/
“It’s never too late to start,” agreed Judith. “It’s all about the choices you make.”
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WEALTH
BECOME A VICTOR, NOT A VICTIM, OF YOUR FINANCES by DeForest B. Soaries, Jr.
When I was in my twenties, I was approached
expensive clothes, instead of buying luxury cars on
by an agent from a reputable insurance company.
a small salary, instead of eating in fancy restaurants
He offered me an opportunity to invest in a fund
– if I had stayed in that fund faithfully for the next
that provided both insurance and investment op-
40 years, I would be a multimillionaire.
portunities, and I took it. I wrote one check, opened
My problem was not that I couldn’t afford the
the account, and then never paid another dime. If
plan. My problem was that I was not thinking the
I had continued with that plan – instead of buying
right way. People who know me know that I say, all
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of the time, don’t let the future catch you by sur-
on wants, plugging spending leaks and using the
prise. My insurance story reminds me of the biblical
snowball method to stop making just minimum
parable of bags of gold in Matthew 25:14-30.
payments), you have the power of increase. You
There, a journeyman is entrusting his wealth to
have the power to look at yourself and figure out
his servants. He gives five bags of gold to one, two
what you do well, what you love to do and who will
to another and one to the last. Upon his return, he
pay you to do one of those things.
discovers the servants with the most gold both
We live in a service economy. There are people
doubled the man’s wealth while the servant who
who will pay for just about anything. People will pay
was given only one bag buried it in the ground and
you to water their plants, walk their dogs and cats
gave it back to him. He calls the first two servants
and wash their cars. I have a buddy who has a big
“good and faithful” while he calls the last “wicked”
water tank on the back of a truck and he’ll come to
and “lazy.”
your house and wash your car. Whether it’s baking
In the end, we can come up with all kinds of ex-
sweet potato pies or drawing nice art that people
cuses for why we’re in debt. But until we change
will buy, you can use your gifts, talents, skills and
our mindset, take responsibility, and adopt a strat-
passions to connect to people who will pay you
egy for changing our situation we will remain in a
enough for a second or even a primary job.
wicked, lazy state while others prosper.
You can use the power you have to access finan-
Getting control of our finances is empowering.
cial management resources, many of which are free
It’s also much more than just paying off debt and
like the Billion Dollar Challenge. When I was work-
getting better interest rates. You have to have a
ing to change my life by changing my finances, I had
strategy or you’ll end up like professional basket-
to track things on paper. Later, I was able to open
ball players, who make plenty of money yet 60 per-
an account with an online investment company and
cent of them file for bankruptcy within five years of
now I buy and trade stocks on my phone. Today,
retirement. The reality is, if you make $500,000 per
nobody should feel powerless because resources
year and spend $500,001 per year, you’re broke.
are available and ample. When we feel powerless,
That’s a whole lot of wasted bags of gold.
we feel hopeless. When we feel hopeless, we don’t
So, you have to know your wants from your needs,
even look for solutions.
you have to plug spending leaks, you have to have
You have the ultimate power over your own life
a budget, you have to review your debt paydown
and you can deal with any obstacle or challenge if
to revise it or stay on track, and you have to think
you have a strategy. Won’t you join me today by
about how you can generate new income.
becoming a victor, instead of a victim, of your
Not only do you have the power to take money
finances?
you’ve saved and pay off debt (from cutting down
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WEALTH
GROW YOUR MONEY TOOL
GROWTH
TOOLS & TIPS Enroll in the dfree® Academy and join
This course is offered entirely online, which
dfree® Founder DeForest B. Soaries, Jr.
means that you simply need access to a
on a journey to financial freedom. The
computer, tablet or smartphone and in-
Academy is divided into 36 brief videos so
ternet access to complete any portion of
that you can easily get on a path to debt
it. Nevertheless, the dfree® team is just
relief and wealth building, all at your own
an email or call away should you have any
pace. What’s more? It’s all provided free of
questions or concerns.
charge! The dfree® Academy was created to offer individuals, churches and community organizations a convenient way to take dfree® courses, access dfree® LAUNCH
individual sign- up
Training and gain access to the practical
http://mydfree.org/academy-register/
approaches and values-based principles
church/group sign- up
that will shift you toward financial freedom.
http://mydfree.org/organization-register/
DEBT RELIEF TIPS
1
PRIORITIZE DEBTS BY MAKING LATE PAYMENTS FIRST. Next, pay off debt with small balances or with the highest interest rates. situation.
22 | LIVING
2
NEGOTIATE TO ELIMINATE CURRENT DEBT. Call your creditors and lenders and create opportunities to pay off less debt sooner.
3
NEVER PAY FULL PRICE WHEN SHOPPING. Do research and find competitors, wait for the item to go on sale, use coupons or resist buying the item.
Hope is at your fingertips. It's as simple as using your keyboard to join the Billion Dollar Challenge. Paydown your debt and challenge a friend to do the same. It's fun. There are rewards. And, you end up debt-free! JOIN TODAY. billiondollarpaydown.com LIVING
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YOUNG & FREE
From her new juice bar in Brooklyn to demanding what you’re worth in salary negotiations, Radio and TV Personality and Entrepreneur Angela Yee covered a gamut of topics at Prudential in Newark recently for an audience of more than 150 millennials interested in becoming financially free. “A lot of times, people think that success comes quickly,” Angela, who cohosts nation-
YOUNG, WILD & FINANCIALLY FREE: SERIES RECAP
24 | LIVING
ally syndicated The Breakfast Club morning radio show, “and do not understand the groundwork that comes with it.” Angela, who has participated in the dfree® Financial Freedom Movement for more than a year, candidly talks about how she was once drowning in student loan and other debt yet was determined to turn things around.
Her new juice bar, Juices for Life, in Bed-Stuy is just another example of how her determination has enabled her to turn things around. As a child, Angela loved sugary drinks and candy. But by college, she started paying more attention to her health and began blending healthy drinks. Now, she’s trying to bring that healthy focus to a predominantly black neighborhood. “I’m not telling anybody they have to be perfect but what I’m saying is you can be better,” Angela recently told NBC News about her newest entrepreneurial
Hundreds of millennials attended dfree®events in Fall 2017 to learn more about saving money, making investments and becoming entrepreneurs. A new dfree®curriculum for young people is being rolled out in 2018!
venture. She echoed those sentiments during the Oct. 9 fireside chat with dfree® Executive Director Tamika Stembridge. After, she had a chance to network and mingle with participants and listen to a band. Many of the young people who attended, what they called an excellent event, said they were there to learn more about buying a home, building credit scores, getting out of debt, growing a business and maintaining their finances. Students from Clark Atlanta, Morehouse and Spelman colleges got a similar chance to learn more and join the dfree® movement on Sept. 26 when some 70 attended a panel event at the Atlanta University Center’s Robert W. Woodruff Library. The event featured Inspirational Hip Hop Artist Dee-1 and Kelly Smith Beaty, founder and president
Stay connected to mydfree.org for information on new dfree® Young Money Experience programming in 2018.
of The Girl Power Agency.
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YOUNG & FREE Unlike most rappers Dee-1, a.k.a. David Augustine Jr., boasts about paying off student loans and not having a car note. A member of the dfreeÂŽ financial freedom movement, Dee1 often tells young people about his spiritual journey and is critical of Hip Hop artists that promote the trappings of materialism. Dee-1 still drives a 1998 Honda Accord, as you can see in his popular music video.
DEE-1 NO CAR NOTE
No Car Note: https://youtu.be/LXXH4Fm9qh8 Also, Congratulations to Dee-1 on the release of his new album, Sling Shot David.
To Learn & Listen More, Visit: http://dee1music.com LIVING
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WOMEN LEADERS
FROM ONE MOTHER TO ANOTHER by Michele Thornton
How many articles have you read in the past
the best schools. In 2016, I wrote my first book,
week, month, year? What have you done with that
“Stratechic,” and I shared my story of how I did
information? Before you read this article, decide
well in school and played basketball on the varsity
that you will use these words to build a plan and
team yet didn’t make any plans to go to college.
then execute it. It’s amazing what happens when
Instead, I chose to get a job at a local naval base.
we decide to walk differently. I pray this article in-
This choice is critical to my story because I see this
spires you to make the necessary plans and adjust-
happening to so many young people. I was making
ments today!
decent money but I began to accrue debt. When I
I grew up in Oakland, California. My mom and
wanted to go back to school, I had so much debt
dad worked hard to send my brother and me to
that I couldn’t afford to quit my job. I was also in
27 | LIVING
“I made a promise to myself that I would never be bound by money again.” a high-profile relationship at the time with a pro-
I got out of the car, I dropped to my knees. I was
fessional athlete. Of course, I had to buy the best
crying and praying. God appeared before me and
clothes and shoes to look the part. I was basically
was deathly silent. I could see the disappointment
strangling all the possibilities for advancement in
on his face. When I woke up, I remembered every
my life, because I was burying myself in debt. In my
detail of that dream.” As a result, I chose to end my
mid-twenties, I was overweight, in a miserable re-
relationship, I lost weight and enrolled in college.
lationship, overwhelmed with debt and had no col-
To go to school full time, I worked at a hotel and
lege education.
cleaned houses on the side. I also decided to file
Around my 26th birthday, I had a dream. I tell
for bankruptcy, because I could no longer afford to
this story in my book: “I was driving across the
pay all the bills I had amassed. It was a dumb deci-
Bay Bridge (a bridge that connects Oakland and
sion and haunted me for 10 years. The better thing
San Francisco) and the road had huge holes in it. I
to do was to pay off the bills slowly over time with
stopped the car, because I feared for my life. When
the help of a debt consolidation company. It was a
LIVING
| 28
WOMEN LEADERS
painful lesson and one I will never forget.
My family had to buy in to the time I needed to
During my speaking engagements, I’m often
write my book and all my responsibilities as an ex-
asked by attendees how I get everything done, es-
ecutive. We had a family meeting where I explained
pecially being a wife and mother. And I ask them,
the sacrifice we all had to make if I was going to be
“How can I afford not to get everything done?”
successful at both. We all had to make compromis-
My sacrifice will benefit my family and communi-
es. I understood that they expected me to be fully
ty. I graduated from college in my early 30’s. Right
present when I was at home, and attend specific
after graduation my dad passed away from can-
events at school and outside sporting activities.
cer. I made a promise to my dad on his deathbed
I’m in constant communication with the school
that I would make him proud. Yes, Walt Thornton
and coaches to ensure that I have my calendar up
would be proud of my success as an author of two
to date with all major events. When you set expec-
books and becoming a BET media executive, but
tations, and deliver on the agreed upon plan, all are
his real pride would come from the fact that I have
happy.
an amazing family. Can women have it all? Yes! Just not ALL at the same time. Women are born nurturers. We in-
What and who will you give up today to take some time back to plan for a better future? To build your plan and become Stratechic?
stinctively take care of others’ needs whether it’s
After you get some time back and build a plan,
at work, home or in the community. It’s one of our
you must get your money right. I made stupid de-
best characteristics and one of the characteris-
cisions and wasted so many years because I made
tics, if not managed, can be the reason we never
bad money decisions. Dr. Soaries says it best: “No
reach our true assignment in life. We cannot afford
debt, deficits and delinquencies.” I made a promise
to give away our time and money to people who
to myself that I would never be bound by money
have not earned it. I literally created an elimination
again. That’s easier said than done. Having a family
list of people who were taking up valuable space in
is expensive. Taking care of a parent is expensive.
my future, and I encourage others to do the same
Money just seems to fly out the door. We made
thing. I realized that when you give away your time
some good financial decisions as a family, and we
to unworthy things and people, you don’t have the
weren’t afraid or embarrassed to find a financial
time and energy to write a book, build a business,
planner. The biggest decision we made was to buy
find the right loving significant other or take good
a house we could afford on one salary. We also
care of yourself and your children. TIME is the tool
have enough life insurance so that if anything hap-
in my toolbox that was the catalyst for all the great
pens to my husband or me, our family is protected. I
things that I’ve achieved.
also save a portion of every check I receive. I would
29 | LIVING
have never been able to write and self-publish my book if I didn’t start a Stratechic savings account. It takes time and money to make money. Now it’s your time! You have to decide you want to live a better life. You have to stop doing the same things and expecting a different outcome. You have to decide to be healthy, write that book, get promoted, find a husband, start your own business or visit http://www.changingourstory.splashthat.com to request to speak with a Prudential financial advisor in your area who may help you find your way to financial wellness. Success is intentional. Success takes sacrifice. Success takes resources. If I can build a plan for success, I’m positive you can too! If you are serious about the next phase of your life and want a strategy session, send me a note on LinkedIn! Let’s Go!
dfree®, a trademark of Corporate Community Connections, Inc. and Influencer Michele Thornton, are not affiliated with The Prudential Insurance Company of America or its affiliates. Each company is solely responsible for its own financial conditions, content, liabilities and contractual obligations.
0312791-00001-00
©2017 Prudential Financial, Inc. and its related entities. Prudential, the Prudential logo, the Rock symbol, and Bring Your Challenges are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
LIVING
| 30
WOMEN LEADERS
GET CONTROL: LESSONS FROM OUR GRANDMOTHERS by DeForest B. Soaries, Jr.
When we can prove that we are capable of taking control of our finances, because we’ve
a husband whose disability stopped him from working.
taken control of our lives, not only can we live
My paternal grandmother was a sixth-grade
a more care-free and less stressful life but we
graduate and a self-made woman. Her skill
also can be in a position to really be a blessing
was sewing and so she became a seamstress.
to our families and future generations.
She raised six children and after she had her
To get my mind in the right place and get
sixth child her husband had a stroke. As a
control of my finances, I looked to my grand-
black woman growing up in New York in the
mothers as inspiration. My maternal grand-
1900s, my grandmother had tremendous re-
mother was a domestic worker. She worked
sponsibilities.
for rich people. She cooked their food, cleaned
What’s interesting is both my grandmothers
their houses, ironed their clothes and helped
owned their own houses, which they passed
raise their children – all while raising eight chil-
on to family, and always had money. If you
dren and two grandchildren of her own with
wanted a little money from Grandma Pinkard,
31 | LIVING
she would turn around, pull a handkerchief out
my father was very supportive of his eldest
of her bosom and give you a couple of dol-
son. Yet whenever I asked dad for a loan until
lars. If you wanted big money, $10 or $15, she
payday, he would say, “Son, you work every
would roll up her skirt, reach in the top of her
single day. Why is it that every other month
stocking and pull out big cash. The bosom was
you need to borrow money?” And I’d say,
the credit union; the bank was the stocking.
“Dad, I don’t know where my money goes.”
I decided that if my black grandmother –
My dad would look at me and say, “It doesn’t
with no education, no civil rights, in the 1900s,
leave home while you’re sleeping. The money
with no husband to support her – could die
goes where you take it.”
and leave me my first house, then shame on
You have to look at every single penny you
me – with my civil rights and all of my activism
spend as you spend it. Track it. Write it down
and all of my education – if all I have to leave
or put it in the notes on your phone. Make sure
when I die is credit card bills. I decided to take
you are spending on needs, not wants.
control.
When we get to the budget, budget is not
My grandmothers taught me three things
a nasty word and it’s not a restrictive word.
about finances: 1) set short-term financial
A budget simply says that I have this much
goals; 2) identify spending leaks; and, 3) list all
income and I have that many needs flowing
income and expenses to give shape, form and
from my expenses and I have to make sure I
life to what we call a spending plan, commonly
have a balanced budget. I want my expens-
known as a budget.
es to be not only no higher than my income,
Setting short-term goals gives you an opportunity to celebrate victories along the way
I want my expenses to be lower than my income because I need a cash-flow strategy.
and gives you something achievable on your
Is it easy? Of course not. Yet, you get con-
way to your big dreams. It’s important to write
trol by laying a firm foundation for your new
down these goals. Once I was serious about
life of freedom. Fundamentally, any plan that
taking control, the first thing I did was sell my
is going to work in advancing your freedom
luxury car that was taking too much of my in-
must be fueled by the power of your motiva-
come every month. I paid cash for a used car –
tion. Attitude and action go hand in hand. If
with no air conditioning, two doors and a stick
my grandmothers could do it, if I could do it,
shift.
you can do it. Get free. Get control.
Spending leaks are just that – you don’t know the money is gone until it is gone. Now,
LIVING
| 32
INSPIRATION
RING IN 2018 WITH dfree®: WHAT’S NEW? One of the best ways to get out of the red (debt) and stay in the black (wealth) is to interactive with dfree® (mydfree.org) regularly, so you can stay motivated and inspired. What’s new with dfree® lately? We now offer weekly In The Black podcasts, we’ve launched a new Billion Dollar Challenge website, have expanded enrollment in dfree® Academy, offer the Learn, Launch, Lead & Look Ahead free webinar series and more!
dfree ® Founder DeForest B. Soaries, Jr. and Executive Director Tamika Stembridge now host a weekly podcast featuring guests from JJ Hairston to The Money Coach ® Lynnette Khalfani-Cox.
sure on iTunes or Soundcloud.
We made tremendous strides in 2017, as you can glimpse in this video (https:// w w w.facebook .com/mydfree/videos/1927538303930588/). Get ready for 2018 when we’ll be Being, Banking, Buying and Building Black! In The Black Podcasts You need timely information about financial matters including getting debt free and wealth building. That’s why the weekly In The Black podcasts, hosted by Rev. Dr. Soaries and dfree® Executive Director Tamika Stembridge, made their debut on Oct. 1. In The Black keeps you on the pulse of spiritual, mental and financial health. Guests have included: The Money Coach® Lynnette Khalfani-Cox, Gospel Sensation JJ Hairston, Artistic Director Kristine Smith, Rev. Gary McCollum and more! Each segment is about 20 minutes and is power-packed with useful and inspirational information. Listen to In The Black at your lei-
33 | LIVING
Billion Dollar Challenge Last time we checked nearly $10 million of collective debt had been paid off, thanks to dfree® participants like you using Billion Dollar Challenge (BDC) tools! Recently, we launched a new, vibrant website, billiondollarpaydown.com, that makes it easier than ever for you to track your paydowns and find tips for staying debt free. BDC is a free, national economic campaign created to educate and inspire people to pay off debt. The target of the challenge is to eliminate $1 billion in debt by 2020. Because research shows that it’s easier to accomplish difficult tasks when you do it with others, BDC makes it easy to create groups and inspire each other. The easy-to-use financial management tools are just one way to help you budget and plan for a better financial future. dfree® Academy
Have you ever wished you could invite dy-
Ready, Set, LAUNCH!!!
namic speaker and dfree® Founder DeForest B.
The dfree® team hosted several trainings this
Soaries, Jr. right to your home to have a conver-
year in California, Indianapolis, Alabama, Texas,
sation about getting out of debt?
Georgia, Ohio, New Jersey, and online via we-
Discover what hundreds of others have dis-
binar. These sessions are designed for groups
covered by joining the dfree® Academy -- you
that are interested in sharing the dfree® Life-
can bring Rev. Dr. Soaries right into your home!
style 12-Step Curriculum with their members
What’s more, you can take his guided, online tu-
and/or the community.
torials at your own pace and time. You deserve
Launch training includes: Part 1, dfree® ori-
to use every tool available to keep you on track.
gins, history, philosophy and foundations; Part
Register for the dfree® Academy, as an indi-
2, dfree® Financial Freedom curriculum, tools
vidual or in a group, by going to: https://myd-
& content; and, Part 3, dfree® launch training,
free.org/get-control/dfree-academy/
implementation and strategy.
Learn, Launch, Lead & Look Ahead Every 1st and 3rd Thursday of the month you
To request training for your area, check the dfree®
Networks
(https://mydfree.org/get-
can get or refresh your training by participating
ahead/stay-connected-dfree-networks/)
to
in a free webinar, offered this fall from 7 to 8:30
find other groups in your area and send your
PM.
request to info@mydfree.org.
On the first Thursday, LEARN & LAUNCH
To find out about local training and other op-
dfree® is an introductory session for those in-
portunities, check the dfree® Events calendar
terested in learning about the dfree® Financial
(https://mydfree.org/events/).
Freedom Movement and what it takes to launch
Welcome 2018
within a church or organization.
Stay connected to learn more about Being,
On the third Thursday, LEAD & LOOK AHEAD
Banking, Buying and Building Black and other
with dfree® is an interactive session for those
exciting news like the release of Rev. Dr. Soaries
already active in dfree® and looking to expand
next dfree® book, new dfree® supplements and
their reach/programming/approach. Also get
more on the dfree® Young Money Experience.
updates on dfree® work around the globe in-
Visit mydfree.org and connect through social
cluding new events, Billion Dollar Challenge,
media:
dfree® Loyalty Program & dfree® Incentives
Facebook:https://www.facebook.com/mydfree
and more!
Twitter: https://twitter.com/mydfree
Register for Learn, Launch, Lead & Look
Linked In: https://www.linkedin.com/company/
Ahead at this website, https://register.gotowe-
dfree-global-foundation/
binar.com/rt/9059788181153812994.
YouTube: https://www.youtube.com/user/mydfree
LIVING
| 34
AHA MOMENT
by Dee Marshall, Life Coach
Life Coach Dee Marshall once had a six-figure salary working on Wall Street, yet she was still broke. Hear her brief testimony in this video https://youtu.be/1oLYxC83c24 and read more about Dee in Rolling Out. https://rollingout.com/2017/11/09/former-wall-street-executive-dee-marshall-paints-picture-of-financial-success/
35 | LIVING
NEST EGG
7 HABITS OF FINANCIALLY FREE PEOPLE by Maddie Brooks
Do you want to be financially successful? Yes? Then you may be wondering, what do financially
of what needs your immediate attention so you can approach your finances with eyes wide open.
free people do differently? Here’s the short answer:
2. Automate your savings. Set a savings and in-
they’ve adopted the right mindset toward money,
vestment amount for each of your financial goals or
and they have consistently practiced healthy mon-
responsibilities (i.e. college funding, home owner-
ey habits.
ship, insurance) and have it automatically deduct-
It takes self-awareness, knowledge and dedica-
ed from your paycheck. Keep the funds separate
tion to begin managing your money in a way that
from your checking account. You will likely be less
leads to financial security and independence. But
tempted to spend what you don’t see. Like they say,
the good news is you can do it! And Prudential is
out of sight, out of mind.
here to help. Consider how you can develop the following seven habits of the financially free.
3. Do more than just “think” about planning for retirement. Contribute to your 401(k) or IRA today. Not next week. Not when you get a raise. Not at
1. Organize all your financial paperwork. That
some other convenient time. TODAY! Because the
pile of mail on your kitchen counter and those
money you put in your retirement fund now will
stacks of paperwork on your desk are costing you.
have more time to grow. After all, people are living
Once you have everything in front of you, make
long after they retire, and you want to enjoy that
three piles, “pay, file and shred,” and then, do just
phase of your life. You earned it!
that. No matter how you go about it, you must open
4. Take control of your spending – with a bud-
your mail and organize your paperwork. Be aware
get. Being intentional with how you spend your
36 | LIVING
time and money can give you control of your
your needs, or visit http://www.changingour-
finances — and your financial future. You gain
story.splashthat.com to request to speak with
control when you create a budget plan. Allot
a Prudential Financial Professional in your
a set amount or percentage for each of your
area.
expenses (i.e. rent, groceries, savings). Then track your progress – you can even use an app like Mint. But, however you’ve designated your goals, commit to staying on track. 5. Start paying off small debts. If you have a large amount of debt, paying off debts with lower balances can give you the confidence to tackle the larger ones. In addition, consider chipping away at the credit cards with the highest interest rates. 6. Create an emergency fund. Let’s face it, the unexpected is inevitable. Nearly half of Americans can’t deal with a basic financial emergency. I would recommend saving at least six months of basic living expenses to be prepared. 7. Consult a professional who can help you set and achieve goals. In the end, why try to figure it all out on your own? A financial professional can help you create a budget, set an action plan to pay down debt, or educate you on ways you can prepare for the future. Don’t be afraid to seek help. After all, that’s the mindset of the financially free. We can plan for your financial freedom together. Feel free to contact me at maddie. brooks@prudential.com to set up a complimentary consultation where we can discuss
0312792-00001-00
dfree®, a trademark of Corporate Community Connections, Inc. and Influencer Michele Thornton, are not affiliated with The Prudential Insurance Company of America or its affiliates. Each company is solely responsible for its own financial conditions, content, liabilities and contractual obligations. ©2017 Prudential Financial, Inc. and its related entities. Prudential, the Prudential logo, the Rock symbol, and Bring Your Challenges are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
LIVING
| 37
MAKING YOUR MONEY WORK FOR YOU: THE POWER PLAN by DeForest B. Soaries, Jr.
The last two houses I bought, I bought cash.
from my church, and I bought that house cash.
I bought one house when my boys were young
Now, it was a small house. But I’d rather have
and, when we wanted to get away for a few
a small house that I own than a big house with
days. We had a house up in the mountains
a big mortgage.
where we went to go snow tubing and sled-
When my sons were in their senior year
ding. It was just away from the crowd, away
of college, when I was convinced they would
38 | LIVING
your debts faster. You should sell any assets
off campus. I bought a house for the boys.
that you can in order to pay off debts faster.
Had I paid rent every month, I would have paid
Just remember why you’re doing what you’re
off a landlord’s loan. Because I bought the
doing: sacrifice what you don’t need now for
two-bedroom apartment, when they gradu-
what you must have later.
ated from school I sold it and got my money
For me, one of my sacrifices was neck-
back – which means they lived for free that
ties. Everyone who knew me at the time knew
year. I sold it for a little more than I paid for it,
about my fondness for neckties – beautiful,
so I made even more money. People say, “You
handmade, silk ties in a variety of patterns
can’t buy a house with cash.” You can, just buy
and stripes. I thought I had a problem one day
a small house.
when I got home and realized I had purchased
When I was living paycheck to paycheck,
the same new necktie. I knew I had a problem
paying credit cards with credit cards, dressed
the night I came home with three new neck-
up on the outside and messed up on the in-
ties and left them in the car until my wife was
side, for a minute I blamed my problems on
asleep. In my pajamas, I went out to get those
other people. But then I realized -- or as Bap-
ties and then hid them under older ties. Why?
tist preachers are known to emphasize, “and
Because if my wife saw me with new ties, she
he came to himself” -- I had to see myself to fix
would want to buy new shoes!
myself. Now, I have financial freedom. When I
Another example I frequently use is getting
stopped working for money, I started making
rid of premium cable, especially since most of
my money work for me.
us watch about six channels anyway. I men-
Becoming debt-free isn’t easy. You have to
tioned this recently and someone called from
make sacrifices. You have to adjust your atti-
the meeting and lowered his cable bill to save
tude, plan a course of action and change your
$94 per month. That’s a one-year savings of
spending habits. Once you do these things you
$1,128. Over 20 years, that’s $22,560. We’re
can more rapidly gain control of your finances
still waiting for politicians to raise the mini-
by using what I call the power plan. The power
mum wage. You can give yourself a raise by
plan involves making: power changes, power
changing the cable bill!
payments and power savings.
NEST EGG
actually graduate, I told them they could live
Once you’ve done what it takes to free up
Making power changes requires paying the
some money, you must pay the price of catch-
price of sacrifice. You must choose the areas
ing up. Use that extra money to make power
where you will cut back in order to pay off
payments on bills. Prioritize your debts; late
LIVING
| 39
NEST EGG
payments first. Prioritize by choosing to attack the
Don’t just shake your head and say you can’t cut back.
debts with the smallest balances next or the ones
I was in Texas speaking to a group of pastors and I asked
with the highest interest rates and most injurious
if they thought, if the cause was big enough – like earth-
long-term effects. Then, stop purchasing items using
quake or hurricane relief -- if they could get their church
credit; use cash or a debit card.
members to increase their giving by $57 a month per
Because our culture encourages credit dependen-
person. Most didn’t think so and someone asked why. I
cy, moving from credit to cash only may need to be
said because 58 percent of the black people who live in
a gradual process. Push yourself to cut through the
Texas spend $57 per month on lottery tickets. In Texas,
many excuses and find a way to afford whatever you
there are 2.6 million black people; 1.6 million are regu-
buy and pay for it, cash, at the time of purchase. Keep
lar lottery players. That’s $1.1 billion per year on lottery
focusing on your needs, not wants. When you do this,
tickets and the odds of winning are 175 million to 1. The
you are actually purchasing an unencumbered future
lottery is not a strategy. The lottery is a game. When
of financial freedom.
the lottery becomes a financial strategy, we are not just
I know you want to get ahead and part of the price
broke, we are lost.
of getting ahead is creating power savings. You need
You can find your way to financial freedom. You can
to have an emergency fund of at least $3,000 in cash
fight your way to a better life. Start your power plan and
and use it only for true emergencies. Set aside five
make your money work for you.
percent, or as much as possible even if it is five dollars, of your monthly income in a high-yield savings or investment account. Begin looking ahead at retirement needs. And, save for designated non-monthly expenses on a monthly basis to avoid capsizing your monthly budget.
LIVING
| 40
OUR PEOPLE
GHANA TRIP: AFRICA, LAND OF OPPORTUNITY dfree®
dfree® already has a firm foothold in Gha-
ka Stembridge (Episode 7: https://soundcloud.
na and the financial freedom movement will
com/dfree-podcast-in-the-black/episode-
soon be even stronger there now that dfree®
7- i n - t h e - b l a c k- w - d r- s o a r i e s ? u t m _ c o n -
Founder DeForest B. Soaries, Jr. has been en-
tent=buffer367e3&utm_medium=social&utm_
stooled as Chief of Development under King
source=twitter.com&utm_campaign=buffer),
of Akyem Abuakwa, His Majesty Osagyefuo
the Asante culture dates back more than 600
Amoatia Ofori Panin.
years, to the 1400s.
The
(https://www.facebook.
“Africa, you know, has a billion people. Most
com/mydfree/videos/1897127563638329/)
of us have no information about Africa,” Soar-
took place on Oct. 14, 2017 at the King’s pal-
ies says. “The Chinese are in Africa. Europeans
ace in Kyebi. As Chief Soaries explains in this
are in Africa. My family and I have an invest-
Nov. 13, 2017 In The Black podcast with Tami-
ment account in Africa where we are receiving
41 | LIVING
ceremony
four to five times more in growth than any of our
ers from another country see in him what I see in
investments in America, so Africa is a tremendous
him, his God given gifts and all that he has to offer
opportunity.”
-- just makes me very proud and thankful to God.”
H.M. Osagyefuo Amoatia Ofori Panin was a
Other Ghana trip participants wrote, aside from
member at First Baptist Church of Lincoln Gardens
being treated like royalty, they most admired the
(FBCLG) and, in 1999, had to leave to go back to
Asante culture. They visited the Asante Museum
Ghana to become Okyenhene or king. His region
and a small shop where Kente cloth is woven.
includes 2.3 million people and hundreds of thou-
“We immediately felt the warmth and welcom-
sands of acres of land with natural resources such
ing spirit of the Ghanaian people. They are known
as bauxite, gold and diamonds, Soaries says.
for their kindness and spirit of service and their
“I didn’t really understand African royalty. I al-
hospitality is second to none. We felt welcomed,
ways knew that we used to be kings and queens
comfortable and, again, like we had come home.
in Africa -- we say it all of the time. I didn’t realize
Ghanaians exhibit a beauty of community and to-
that we were still kings and queens in Africa in a
getherness as family and neighbors, and that feel-
way that was both relevant and meaningful,” Soar-
ing of community is extended to visitors,” S. Milling-
ies explains.
ton, C. Holliday, E. McCaskill, R. Fashaw, F. Charles,
“And so, I ended up going to Ghana in 2007 to
and G. Wilson wrote in a collective summary. “We
visit with the Ghana Baptist Convention and while I
have long been kings, queens, engineers and more,
was there I said to our staff, ‘Let’s stop by and see
and we are saddened that young African-American
this guy who’s supposed to be king who is a mem-
children aren’t taught these things in school.”
ber of our church. And when I got to Ghana the
Related to the dfree® experience, they wrote:
very first time, because of the influence of royals in
“The entrepreneurial spirit of the young men at the
Ghana and because of the influence of our member
Kente shop was unbelievable. Their persistence was
who is a king, the president of the country sent his
amazing and inspiring. They sell their wares with
car to pick me up when I landed in the country. He
warm smiles spread across their faces even when
sent a bus for our entourage and a police escort
they are unable to convince buyers to buy that one-
the whole time we were there. And so, fast forward
of-a-kind Kente cloth, jewelry and much more.”
now, 10 years later…”
The trip also included Sunday worship at Shalom
FBCLG First Lady Donna Soaries wrote to church
Baptist Church, and visits to a local school that was
members that watching her husband being en-
started by an American, to the slave castles and to
stooled “was both wonderful and thrilling. I have so
a national forest. At the church, a $10,000 gift from
much admiration for my husband and to have oth-
members of FBCLG was presented.
LIVING
| 42
“Worship is indeed a universal language and our
and culture of Ghana is beyond compare…you feel
hearts were united as we praised God in one ac-
the love, the passion, the history and the legacy.”
cord,” wrote Antoinette Moss. “The rich melodic
he says in this brief video interview about Ghana
sounds from the keyboard, horns and drums flowed
(see https://youtu.be/JEnRhSdHGXQ). “You are in-
through the space; and as I looked around hands
spired by people who are low in income but high in
were clapping, heads were nodding and bodies
spirit.”
were swaying. Some of the songs were familiar,
Budget your money now to take part in the 2019
some were not, but all spoke praise to our Risen
Ghana trip, which will include a great celebration of
Lord with of course, rhythmic beats and flair.”
20 years of rule of H.M. Osagyefuo Amoatia Ofori
At the Asiafo Amanfro Community School, which is part of the Akaa Project (http://theakaaproject. org/), the Soaries cut the ribbon for a playground donated by FBCLG members Herbert and Jacqueline Gettys, who participated in the 2016 Ghana trip. “Although the school is extremely modest today, it has grown significantly in eight years. I found this to be so very meaningful – and a wonderful testament to a great God. God can take our small efforts of service and magnify them into something exceedingly beyond what we ever imagined!” wrote Joy Gardner, “The school leaders and students were surprised and thrilled to see several huge bags of books; notebooks, pencils and other school supplies; sports equipment and more brought by members of the Ghana 2017 Group as donations to the school.” Clearly, the Give Back aspect of dfree® was appreciated by the host country. But as Chief Soaries often notes, giving brings you back more in return, “From the first moment I touched soil in Ghana up until now I’ve been so inspired….The story
43 | LIVING
Panin. Go to mydfree.org for more details, toward the end of 2018 or start of 2019.
OUR PEOPLE
LEAN ON EACH OTHER to get out of debt by DeForest B. Soaries, Jr.
Not many of us have heard of Rev. William Washington Browne or Maggie Lena Walker. Browne was an escaped slave, a veteran, a teacher and a minister who was the first black man to charter a bank and
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sell insurance in America. Walker was a teacher, a
and Trinidad, partner; Guyana, box hand; Dominica,
social worker and the first woman and black wom-
sub; Dominican Republic, sociedad; Haiti, min; Na-
an to charter a bank and community development
pal, dhikuti; Somalia, hagbad or ayuuto; Philippines,
organization in America. Both banks began in Rich-
paluwagan; and, throughout Latin America, tanda.
mond, Virginia.
I once taught a course on race relations at a
Richmond is about 71 miles from Charlottesville,
community college in Trenton, New Jersey. Right
yet in 1895 Browne’s insurance became so profit-
in the middle of the city, there was a premiere cor-
able that it enabled him to buy real estate, gain the
ner of African American businesses that stood as
1888 bank charter, and start a boon of black busi-
a shining star of black progress. These fellas got
nesses. Walker used Browne as a model when she
together and they owned the corner right across
started St. Luke Penny Savings in 1902. Walker said,
from an elementary school. Teachers would point
“Let us put our moneys together…. Let us have a
across the street with great pride and tell the chil-
bank that will take the nickels and turn them into
dren, “You can be anything you want to be. You can
dollars.” Her bank was the oldest continuous Afri-
have anything you want to have.” Then, all of a sud-
can American bank when it closed in 2009.
den, a young Asian guy, about 25 years old, owned
Both Browne and Walker believed in pooling re-
the corner.
sources and helping black people: save money, es-
I came in to teach one day and my students were
tablish good financial habits and open businesses,
all upset. I couldn’t figure out what they were upset
so they could survive and thrive in America. They
about. They said, “We’re sick of this.” I said, “Sick of
both publicly fought racism and oppression and
what?” They said, “We’re sick of these folk coming
built up their communities. Between 1888 and 1934
from all over the world and the government is giv-
there were 134 black banks. Today, there are 23.
ing them money to buy up our neighborhoods and
So, what did African Americans do before there
we can’t buy or own our neighborhoods.”
were banks open to serving them? They partici-
There was nothing I could do to convince them
pated in a practice of money pooling that is traced
that the government didn’t have a special fund for
back to West Africa, commonly known as sou-sou.
Asians, so I went over to the corner and invited the
Sou-Sous are short-term, no interest loans among
businessman to speak to my class. He was reluc-
friends. The word is thought to be derived from the
tant, but I convinced him.
Yoruba esesu. Nigeria’s Ibo people call it akawo. But
He told the class he decided at age 16 he want-
it’s a practice known throughout the world: Japan,
ed to come to America for greater opportunity. He
tanamoshi; China, hui; Brazil, pandeiros; South Afri-
worked and saved his money for a one-way ticket.
ca, stokvel or quiniela; U.K., partnerhand; Jamaica
He flew to New Jersey and found other people from
45 | LIVING
his country and asked if he could live with them for
ing a luxury car, broke. Until I looked in my closet
a while. For six months, he slept on their floor. He
and saw that every shirt I owned had a picture of
got a little job. He took half of the money he made
a man on a horse holding a stick. This was a man
each week and sent it back to his family. He saved
playing a game that I would never play and didn’t
as much of the rest as possible. He owned only one
even understand. I realized that if I took that man
pair of black pants, two white shirts, one pair of
off my shirts, each would cost $40 less.
shoes, underwear and a few other necessities. He
At some point, we have to help ourselves. But we
worked, slept on the floor, worked and saved his
don’t have to do it alone. In fact, research shows
money. Then, he decided he wanted to buy a busi-
that individual growth and development occurs
ness, which required $30,000, so he joined a meet-
more easily when you do it in a group. We need
ing. At this point, I interrupted to ask what type of
today’s William Washington Brownes and today’s
meeting and he described a money pooling group
Maggie Lena Walkers. We need to lean on each oth-
of people from his home country.
er to prosper.
Every month they would each bring $2,000 and put it in a pot. There were 15 people, so each month the pot was $30,000 and someone would take the pot. Every month, for 15 months, the group financed a $30,000 acquisition. One guy bought a cleaners; another bought a gas station. When it was his turn, he bought the corner. My students were amazed into silence. Until one woman raised her hand to ask how they knew that the person who took the pot would come back the next month. At first, the young man didn’t even understand the question. The honor system was just part of his culture. Money pooling once was a strong part of African-American culture too. Some of us know the many reasons the practice was all but forgotten in black communities, including institutional racism. Now, I graduated from the school of complaining about what people did to me and waiting for someone to lift me up. Until I recognized that I was driv-
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OUR PEOPLE
FINAL WORD Spoken Word Artist Alyea Pierce on Financial Slavery
Alyea Pierce is an author, public speaking and poetry coach and performer. Pierce is motivated to harmonize spoken word, acting and singing through the power of performance. Pierce is a self-published author of “Every Stranger Deserves A Poem,� a book compiled of short stories and original poetry that speaks on the three heartstrings that connect us all.
Experience this gripping call to release your financial shackles at: https://youtu.be/p2rWzD0nuKI
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TRANSFORMATION
NOW.
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