TAKE THE CHALLENGE.
PUSH THE CULTURE. JOIN BILLION DOLLAR CHALLENGE. VOL. 6 E-MAGAZINE, 2nd Quarter Edition
FEATURE
I AM OUR INFLUENCERS IN ACTION
CARMEN MCCLENDON NATIONAL ECONOMIC DEVELOPMENT SUBCOMMITTEE
DELVIN JOYCE
DENISE PYFROM
FINANCIAL PLANNER, PRUDENTIAL ADVISORS
ASSOCIATE MANAGER, GLOBAL PARTNERSHIPS NBA
THE MONEY COACH®
LYNNETTE KHALFANI-COX 1
POWERED BY | LIVING
SHARES THE IMPORTANCE OF A GAME PLAN
2 | LIVING
LIVING
|3
CONTENTS
25
FEATURES
6. Tamika Stembridge: Why Me?
9. I Am dfree® Our advocates Carmen McClendon, Delvin Joyce and Denise Pyfrom 17. Lynnette Khalfani-Cox: Vigilant Warrior Against Debt
LIFE 6. Tamika Stembridge: Why Me? 10. I Am dfree® dfree® influencers talk about how they put dfree® into action.
16. Improve Your Health and Increase Your Financial Fitness with Dr. Ro 18. Life Tools & Tips
GENERATIONAL WEALTH
WOMEN EMPOWERMENT
25. Become a Victor, Not a Victim, of Your Finances
32. From One Mother to Another
27. Wealth Tools & Tips
Advice from Media Executive Michele Thornton
MONEY 19. Lynnette Khalfani-Cox: Vigilant Warrior Against Debt 22. A Talk With Yourself 24. Money Tools & Tips 4 | LIVING
YOUNG MONEY 28. On the Road to Billionaire, Your First Stop Should be Thousandaire
36. Get Control: Lessons From Our Grandmothers 38. #BALANCEFORBETTER for International Women’s Day
6
28 INSPIRATION
OUR PEOPLE
40. Close Knit God’s Gurls Talk Music, Ministry and Money
50. Financial Dis-ease: Don’t Feel Bad Unless You Don’t Change Your Situation
NEST EGG
52. FINAL WORD with Pastor Trevor Hyde, Jr.
45. Live a Richer Life by Planning for Death 47. 7 Habits of Financially Free People by Maddie Brooks
ON THE COVER:
dfree® advocates: Carmen McClendon, Delvin Joyce and Denise Pyfrom share what it means to be part of the life changing movement.
LIVING
|5
LIFE
THE FEARLESS TAMIKA STEMBRIDGE TALKS MONEY, TAKING RISKS & LEARNING FROM EXPERIENCE Meet Tamika Stembridge — an attorney, MBA
life. The remarkable thing is that she recognizes,
and marketing guru who serves as the Executive
and in many cases, takes them. Tamika is always
Director of dfree . She describes herself
asking, “Why me?” When in fact, why not her? Why
somewhere between a Black Panther and
not us? When discussing her life, it was amazing
Beyonce. She is also strong, highly educated
to learn how willing she is to take calculated risks.
and fearless. Committed to personal integrity
As is often the case, to truly understand Tamika
and success, Tamika is not only willing to take
you must go back to her origins.
®
the road less traveled, she is willing to blaze her own path.
BIG SISTER
Tamika is the eldest of three daughters. She RISK TAKER
lived in a well-rounded home, which was rich
Tamika is the first person to acknowledge the
with things of value that matter including love,
numerous opportunities that have come in her
education and a great work ethic. Tamika’s
6 | LIVING
mother was a corporate employee, and her father
After four years of dividing her time between
was a truck driver. A pivotal and unexpected
the corporate and the nonprofit worlds, she was
point in their life came when both parents were
offered a full-time position at Communities in
laid off. It set off a financial storm that eventually
Schools of NJ (CISNJ). This opportunity came
ended with divorce.
with a $50,000 pay cut, but she didn’t change her lifestyle. As Tamika said, “I lived in the same
Even though Tamika was unaware of her parents’
house, drove the same car and cashed out
situation, it affected her, and she always makes
money from my 401K to cover the difference.”
sure to include this puzzle piece in the telling of her story. She firmly believes that we all need
FINANCIAL DIFFICULTIES
to be financially prepared for every stage of life
Tamika discovered the position was not a good fit
because bad things happen to good people.
for her within a year. That realization corresponded with an invitation to apply to law school. Never
In spite of the divorce, Tamika and her sisters
having considered the law, it was exciting and
graduated at the top of their classes and attended
allowed for her love of hip-hop to be matched with
Spelman College on full-tuition scholarships with
a career as an entertainment attorney.
very few undergraduate loans. Each of them work in their chosen fields: one sister is a math
As a law student, Tamika continued her shopaholic
teacher and the other is a social worker.
ways, which led to some difficult lessons with credit cards. As she said, “None of us have money issues, we have life management issues. If you fix your life your finances will work out.”
During Tamika’s last year in law school, she worked a few days a week on the business side of a fashion line in New York. The Devil Wears Prada RISING STAR
After graduating from Spelman, Tamika was recruited to work in Corporate America with the salary and benefits she was seeking. Her free time was spent mentoring young people and trying to make a difference in their lives.
is her favorite movie, and it was like a dream to work in the field. As graduation drew near the fashion line offered her a position as their fifth employee and in-house counsel. Although it was an exciting offer, Tamika considered the totals of her student loans and realized that the more
LIVING
|7
LIFE
lucrative offer from a big law firm in Philadelphia
you know you will hate. She got the formal offer
was the responsible choice.
the Friday before the Philadelphia job was set to start. It seemed like her happily ever after.
After almost two years, Tamika realized that she wasn’t wholly fulfilled at her dream job. It was around this time that she crashed her car, likely because she was stressed and not thinking clearly. Even though she lived around the corner from the train station, Tamika purchased a new car because she thought it would make her feel better, but it didn’t. Eventually, Tamika decided to leave this job too.
SEARCHING FOR MORE
After being on her own for about a year, Tamika reached out for pastoral care with Rev. Dr. Soaries. He was her pastor, but they had never HAND OF GOD
met one-on-one. Their meeting was exactly
After Tamika had taken the bar and two weeks
what she needed. Rev. Dr. Soaries provided her
before she was ready to move to Philadelphia to
guidance to improve her life and even hired her
start at the law firm, she received a lifechanging
to handle some legal work for him. A month later,
call. Tamika’s boss at the fashion line, who
Rev. Dr. Soaries included Tamika in a meeting
was head of production, connected Tamika
about dfree®. She knew he would need someone
to her hairdresser whose husband was then
to manage it and she offered herself. And as
the manager of CeeLo Green. A meeting was
they say, the rest is history. Four years later she
arranged between Tamika and Blue Williams at
is the Executive Director of the dfree® Global
his management company. During the meeting,
Foundation. She loves the work. dfree® started
Blue discussed an upcoming partnership with
with 250 churches and now has more than 3,000.
Chris Lighty, who ran Violator Management and
And dfree® worked for her own life too – finally
managed artists such as Sean “Diddy” Combs
helping her balance things that once seemed
and Missy Elliott. Blue invited Tamika to be their
elusive. Now, Tamika gets to use her personal
third arm. It is not often that your dream job is
testimony and dfree® principles to help change
offered two weeks before the start of a career
other peoples’ lives.
8 | LIVING
LIVING THE GOOD LIFE
Tamika wants everyone to know that “the life that you truly desire is within your reach. Financial peace is great, and none of us are meant to work and die.” She said to, “Get clear on your desire from God, take inventory and one action step at a time. It is possible.”
To
keep
up
with
Tamika
follow
her
on
Instagram @TheFreeBlackGirl and on Twitter @OGFreeBlackGirl. Also read her blogs on mydfree.org.
NOW JOIN NEW
BILLION DOLLAR CHALLENGE TAMIKA TALKS GROUP to gain all the #FreeBlackGirl money moves that keep you successful and informed.
BILLIONDOLLARPAYDOWN.COM LIVING
|9
I AM
DENISE PYFROM
FEATURE STORY
ASSOCIATE MANAGER, GLOBAL PARTNERSHIPS NBA
dfree® INFLUENCERS TALK ABOUT HOW
Preparation is the ability to establish a specific
THEY PUT dfree® INTO ACTION
goal and devise a plan that is detailed enough
It doesn’t matter if you are at the beginning of
to enable you to accomplish that goal.
your financial life, in the middle or at the end.
Sometimes you must work hard to create a
There is a way to gain control and live the life
plan, and other times you’re fortunate enough
that you imagined. Sometimes, however, even
to have a loved one, friend or mentor create
the thought of addressing financial issues can
one for you.
seem overwhelming. If you’re already facing a downward spiral, it may be tempting just
Meet Denise Pyfrom, a New Jersey native
to give up and hope for the best. Yet, many
whose parents are first-generation college
people who have faced similar struggles have
graduates who created an education plan
relied upon dfree® for life-changing guidance.
that would help shape her life. The drive and guidance paid off. In Pyfrom’s current role,
In this article, you will hear from three individuals
as associate manager of global partnerships
who embody the dfree
spirit. They all have
at the National Basketball Association, she
wisdom to share, particularly about three
manages the marketing relationships with
key elements of gaining control: preparation,
Fortune 100 brands. In this capacity, she
direction and process. Their stories should help
overseas
you see your situation from a new vantage
helps bring organizations together to promote
point, so that you too can get control.
shared values and drive business goals.
DENISE PYFROM SAVE MONEY
®
-- TAKE EVERY OPPORTUNITY TO
multimillion-dollar
contracts
and
ON HER OWN
Pyfrom learned about the dfree® movement
It is incredibly empowering once you realize how to manage your finances. 10 | LIVING
at church, as dfree® founder Dr. Soaries is her
save money. I, 100 percent, should have lived at
pastor. The messages were also reiterated at
home longer and done the commute, but I was
home, which provided a foundation that would
so wrapped up in the glitz and glamour of NYC.”
guide her as she ventured away from home. That decision aside, Pyfrom is focused on “It is incredibly empowering once you realize
“having a robust savings account. Not just
how to manage your finances. It’s not always
with one bank, but with multiple resources to
going to be easy. But so long as you find a
diversify your portfolio, like a 401K.”
financial strategy that works for you, that is one of the most freeing moments in a person’s life,” said Pyfrom.
FINANCIAL ADVICE
Pyfrom said, “Wealth isn’t necessarily tied to how much you make but how much money you can keep from what you make. How much can you afford to save, and can you afford to save a little bit more than that? Be as consistent as possible to see long term growth.”
Denise recommends the same advice she gives
the
professional
basketball
players
she interacts with, “Do not make your own personal, financial and life decisions based on what you see your peers do. Don’t try to live off their reality. You have to be honest with yourself and what will work for you, both in the long-term and the short-term.”
LOOKING BACK WHILE MOVING FORWARD
Pyfrom acknowledges she made several smart financial moves, but if she could’ve provided her younger self any advice, “I would have told
NJ chapters of Alpha Kappa Alpha Sorority, Inc. members attend Leadership Training
myself to capitalize on every opportunity to LIVING
| 11
Currently, Delta Sigma Theta Sorority, Inc. has 189 Billion Dollar Challenge Chapters nationally and has reduced over $4 Million in debt. CARMEN MCCLENDON DELTA SIGMA THETA CHAIR, NATIONAL ECONOMIC DEVELOPMENT SUBCOMMITTEE
CARMEN MCCLENDON, CHAIR OF NATIONAL ECONOMIC DEVELOPMENT SUBCOMMITTEE
-
FOLLOWING THE
PATH BLAZED BY HER GRANDPARENTS
investment of knowledge and wisdom that they poured into me about finances, education and taking care of yourself. Not for the here and now but for the future, that is what I want
A central component to getting control is
my legacy to be,” said McClendon.
receiving direction from people who have taken the journey before you. They can
McClendon pondered her story and said, “I’m
provide information that is road-tested and
a third-generation property owner. I was given
outlines potential pitfalls. The value of this
property, not because I earned it, but because
material is never truly known until the mission
I inherited it. I want my legacy to be based on
is completed and an assessment of all the
the foundation [my family] laid.”
landmines averted has been calculated. Not one to only focus on her family McClendon Meet Carmen McClendon, of Dallas, Texas,
said, “I want to extend that [legacy] to the
who was raised in a family with a strong
communities in which I live, work and serve
prosperity mindset. Her grandparents owned
because so many of us in the African American
property and worked it to create income and
community think there is nothing beyond what
economic security for the family’s future. They
we see and think right now, but it is possible.
were intent on building up wealth so that
My grandparents were not formally educated;
future generations would have less struggle
my dad had no degree. I was fortunate to get
and create a continuity of asset expansion.
an undergraduate degree and an M.B.A. I can’t let them down,” said McClendon.
“I want my legacy to be a replication of my grandparents and parents because of the 12 | LIVING
DEVELOPING THE ROAD MAP FOR DELTA SIGMA
if you apply yourself.” She also credits the
THETA SORORITY, INC.
practical approach to financial empowerment
McClendon, a member of Delta Sigma Theta
and accessible support provided to members
Sorority, Inc. (DST), was selected to head
by dfree® as a key ingredient in that success.
the
National
Economic
Development
Subcommittee of the Program Planning and Development Committee leading the Financial Fortitude strategy to transform the communities in which we live, work and serve. Through its partnership with dfree®, DST’s Billion Dollar Debt and Billion Dollar Wealth challenge launched with respective aims of
I was given property, not because I earned it, but because I inherited it.
financial freedom and wealth and property acquisition. These initiatives have engaged
The same legacy vision McClendon holds for
more than 800 members of the sorority and
her family she extends to DST and community
the surrounding community, motivating them to
participants in the program. “We want to see
reduce more than a whopping $4M in debt.
our children’s children be financially free,” she said, noting that the endgame is not just debt
McClendon
notes
the
success
of
these
initiatives “demonstrates what you can achieve
repayment, but long-term property ownership and good investments.
MICHELLE DUTTON
CARMEN MCCLENDON
TONYA MURAGURI
DELTA SIGMA THETA SORORITY, INC. MEMBER, NATIONAL ECONOMIC DEVELOPMENT SUBCOMMITTEE
DELTA SIGMA THETA CHAIR, NATIONAL ECONOMIC DEVELOPMENT SUBCOMMITTEE
MEMBER, NATIONAL ECONOMIC DEVELOPMENT SUBCOMMITTEE
LIVING
| 13
DELVIN JOYCE FINANCIAL PLANNER PRUDENTIAL ADVISORS
We have to understand the power of insurance.
DELVIN JOYCE
--
WHERE THERE IS A WILL,
early in his rookie year, “Just because I can
THERE’S A WAY
afford something doesn’t mean I should
In life, there are processes to getting things
purchase it. That turning point put me on a
done correctly. Reading the instructions is not
path to saving enough money to buy my first
required, and guessing is an option available to
home — a home I still live in 15 years later.”
you. However, you can expect some problems when you don’t take the time needed to learn
Following his sports career, he started working
the process of taking control of your financial
as a financial planner for Prudential advisors.
life. While it may all turn out just fine, there is
His background in economics and finance
also a chance that skipped steps will be costly
paved the way.
and impact your legacy. GENERATIONAL WEALTH
Here to provide advice for your financial
Estate planning is one of the best ways to ensure
story is Delvin Joyce. A former NFL player
you leave a legacy and create generational
for the NY Giants, he experienced an increase
wealth. Joyce said, “Make sure all the things
beyond anything he ever imagined. During his
that you have set up will pass to your heirs and
professional sports tenure, he was making more
beneficiaries as efficiently as possible.”
money weekly than he had seen in his life. Statistically,
only
32
percent
of
African
Unlike many of Joyce’s colleagues, he didn’t
Americans conduct estate planning. Many
spend his money on luxury items, but learned
people believe they have no assets or property
14 | LIVING
of any value, and they don’t think about purchasing life insurance. Joyce said, “As a community, we have to understand the power of life insurance. It is a miracle because I can pay a premium and sign a contract and if I pass away money comes into my family.”
Often when people think about large sums of money such as $1 million in insurance or more, they become convinced that someone is going to try to kill them. Joyce recommends that people stop being influenced by shows like CSI and Dateline. “If your economic value to your family is $50,000 than we recommend $1 million in insurance. For every $50,000 add another million.” decisions after you have passed. Another question that Joyce often gets regards to whether it’s better to save for a child’s college education or for retirement. “As they say on the airplane during the safety training, ‘Put your face mask on before assisting anyone else with theirs.’ Your children can apply for student loans, but there is no retirement loan.”
THE HIGH COST OF NOT HAVING AN ESTATE PLAN
Joyce shared, “Not having an estate plan is still a plan because the state in which you reside will put your assets into probate court. Fundamentally, having a will is the 101 version of a financial plan.” Creating a will is usually inexpensive and saves your loved ones the
Often the thing standing in the way of making important life decisions is fear and misconceptions regarding meeting with a financial planner. Joyce said, “Most financial experts will give you a complimentary meeting or free advice to set you on the right path to financial freedom.”
Only 32 percent of African Amercians conduct estate planning.
time and heartache of having to make tough LIVING
| 15
LIFE
IMPROVE YOUR HEALTH & INCREASE YOUR FINANCIAL FITNESS WITH DR. RO “There is often a misconception that only wealthy people can be healthy.” Dr. Ro said. “Having a lot of money is not necessary. What is necessary is your commitment to the Dr. Ro shares advice on improving your body
process. Where your commitment is placed
and wallet at the same time.
your behavior will follow and actions will lead to the change you are seeking.”
Dr. Ro also known as Rovenia M. Brock, Ph.D. is a 20+ year nutritional coach and the author of
Dr. Soaries said he was, “Fascinated [by Dr.
Lose Your Final 15, a book dedicated to weight
Ro] because many of us believe our inability
loss in 15-pound increments. Her interest in the
to take care of ourselves is directly related
field was born from a family medical history
to our income and our financial capacity and
consisting of high blood pressure, coronary
it isn’t. We want to dispel the myth that you
artery disease and peripheral vascular disease
have to be unhealthy if you are not wealthy.”
often known as poor circulation.
Dr. Ro said, “People in our community expect the worst in life that God has to offer them.” It
Dr. Ro stopped by the In the Black Podcast to
is time to change that thinking and understand
discuss health and financial fitness with dfree®
that knowledge is power by learning about
Founder and CEO Dr. DeForest B. Soaries Jr.
your family medical history. By doing so, you
and Tamika Stembridge, ESQ. Hear the entire
can develop tools and make choices that can
podcast here.
improve your health.
16 | LIVING
Dr. Ro provided 3 tips that anyone can start using today:
1. Plan your meals in advance. This action provides two major accomplishments. First, healthy options are selected and second, it reduces your spending when you shop with
People in our community expect the worst in life that God has to offer them.
a list. You are less likely to make impulsive purchases and save money.
2. Prepare meals in bulk and freeze the extra for another time. It costs less money to purchase larger quantities of food, such as chicken or fish.
3. Eat regularly and arm yourself with snack packs. Carry protein and dried fruit whenever you go out and drink lots of water.
Dr. Ro’s mission is to help 1 million people collectively lose 15 million pounds. She said, “The first thing is just to decide to live the best life possible for you. You are the one and only one that can make this decision.” If you are interested in joining her movement visit her website at https://everythingro.com/.
LIVING
| 17
LIFESTYLE TIPS
1
DECIDE THAT YOU WANT A LIFE FULL OF MEANING and purpose so that you can align your priorities including financial goals.
2
RE-EVALUATE LIFESTYLE CHOICES. For instance, if you pay for premium cable and spend a lot of time watching shows does that satisfy your life goals? Can you think of better uses for that time and money?
3
VOLUNTEER IN AN AREA FOR WHICH YOU HOLD A PASSION. Volunteering can lead to other opportunities including: jobs and networking, advice and tips, resource sharing, etc.
18 | LIVING
READ Say Yes to No Debt: 12 Steps to Financial Freedom by DeForest B. Soaries, Jr. “The idea that debt is actually slavery is offensive to all of our sensibilities,” says Soaries, “but when we continue to spend what we don’t have, charge what we don’t need...” www.amazon.com
READY, SET, GO TOOL
LIFE
TOOLS & TIPS Does your current lifestyle support what you want out of life? Do you even know what your life goals are? It’s time to adjust your attitude and focus on what’s most important. When you take the time to create and prioritize your life goals, you can then develop strategies to achieve them. dfree® helps you on this journey and to get your finances in shape so that you have the money you need to support your new life.
Take a few deep breaths and a few minutes to think about where you would spend your time if you did not have to worry about money. Would you take more vacations with your family? Would you do more charity work? Would you bring your ideas for something society needs to fruition and start a business? Let’s Move Forward Together and Say Yes to No Debt.
MONEY
LYNNETTE KHALFANI-COX: VIGILANT WARRIOR AGAINST DEBT One of the most popular questions The
your confidence in yourself and your ability to
Money Coach Lynnette Khalfani-Cox gets
make smart financial choices.” The book offers
asked is how to improve one’s credit score.
a 30-day plan to jumpstart your financial health.
While inquirers may be hoping for a quick fix, establishing and maintaining good credit
FROM DEBT TO DEBT-FREE
requires thoughtful action, or as Lynnette
Even though Lynnette was once a financial
likes to call it, a game plan.
journalist and is now debt free, she had to climb her way out of $100,000 in credit card
“It’s incumbent upon us to learn how to
debt – much of which she created while in
manage credit and debt wisely,” she said. In
college. She faced a car repossession, charge-
her New York Times bestseller, Zero Debt:
offs, collection accounts, late payments and
The Ultimate Guide to Financial Freedom,
low credit scores before taking three years to
she writes: “Excessive debt is an unnecessary
“make it to the other side.” Once there, her
weight that, left unchecked, just gets harder
lifestyle changes have kept her debt free for
and harder to bear. Debt holds you back from
more than a decade.
living the life you want to live and doing the things you truly want to do. Debt destroys
Now, she shares her success and practical
LIVING
| 19
financial tips with thousands through her website,
numbers, has made more than half of all
askthemoneycoach.com, media appearances
Americans victims of identity theft. Even if the
and workshops including dfree® conferences.
hackers haven’t used the information yet, they
She said she openly shares the nasty details of
always can. So, if you haven’t yet, one of the
her debt so that others won’t be ashamed of
first things you need to do to protect yourself
their financial mistakes.
and your credit is to respond to the breach, Lynnette advises.
“I also want you to know that you’re not alone in your debt woes, and that no matter how bad
Equifax, which joins Experian and Transunion
it seems, there is always a way out,” she writes.
as one of the three major U.S. credit bureaus,
“I also reveal my story because I want you to
has set up a website with instructions for
take an honest look at your own spending
finding out if your data was compromised
patterns.”
and what to do about it: https://www. equifaxsecurity2017.com/. Lynnette advises
Lynnette says her experience has shown that
everyone, not just those compromised, to
most debtors fall into one of two categories:
take advantage of any available one-year free
those who overspend and are poor money
credit protection services. But she says there
mangers or those who have suffered from
are other methods that are also available for
one or more of the “Dreaded Ds:” downsizing,
free if you’re a victim, including adding a credit
divorce, death in the family of the main
alert and/or a credit freeze to your report (see
breadwinner or disease. In any case, it’s
https://askthemoneycoach.com/2017/09/
possible to turn things around but Lynnette
protect-credit-equifax-data-breach/).
calls for active vigilance. “Monitor your bank and credit statements. “Who’s going to care more about your financial
Make sure there are no charges you haven’t
and your credit health and your overall
authorized,” Lynnette told USA Today. “Actively
economic picture than you do? Nobody,” she
monitor your credit all of the time, month after
recently said during a USA Today interview
month on all three credit bureaus.”
regarding the 2017 Equifax data breach. Although
everyone
should
get
their
STAY VIGILANT ABOUT YOUR FINANCES
annual, free credit reports from the three
That breach, along with others where hackers
bureaus (available from websites like www.
stole vital information such as social security
annualcreditreport.com) and monitor their
20 | LIVING
COUNTERING THE EFFECTS OF ‘THIN CREDIT’ OR
advises paying the nominal fees or finding out
NO CREDIT
how else you may qualify for free reports so
If you’re trying to rebuild or establish a credit
that you can check your reports and scores
profile, Lynnette says one of the best things you
more often.
can do is get a secured credit card, use it every
MONEY
credit scores (CreditSesame.com) , Lynnette
month and pay the bills on time. A secured credit card is one where your limit is only as high as the cash deposit you put on account with a bank or credit card issuer in order to open a secured card. The great advantage is that the positive activity is reported to the credit bureaus.
“You can also use a technique called piggybacking, where you get added as an authorized user or co-signer on someone else’s credit,” She said she knows people are concerned when they have to pay monitoring fees, but most are worth it. She also said that many states offer
Lynnette said. “Of course, make sure they have good credit. Their good payment activity can help to boost your credit rating.”
protected groups free credit reports such as: people on government assistance; senior citizens; people age 16 or younger; members of the military; people who are victims of identity theft; and, spouses and dependents of identity theft victims. Seven states even offer free credit freezes including: Colorado, Indiana, Maine, New Jersey, New York, North Carolina and South Carolina.
Ultimately, “there is a pathway to perfect credit but you have to take it step by step and learn more about your finances,” Lynnette says. “Can you picture the day when all your credit card statements show zero balances?” Lynnette asks. “It can and will happen, sooner than you think, if you lay the groundwork for your financial success.”
Another important tip related to the breach is to file your taxes early in 2019, before crooks have a chance to use your identity to try and steal your refund.
LIVING
| 21
A TALK WITH YOURSELF DISCOVER YOUR MONEY HABITS by DeForest B. Soaries, Jr.
We’ve been led to believe that knowing more
The problem we have is a lack of discipline,
makes us do better. But when it comes to finances,
a lack of focus, a lack of a strategy and lack
adjusting your attitude is crucial to doing better.
of will power to change. Our problem is not
You can know how to balance a checkbook but
informational, it is attitudinal. Our problem is
that knowledge isn’t sufficing to motivate you to
not educational, it’s cultural. So, the steps we
actually do it. You can understand compound
take to address the problem must address the
interest but not put a dime in the bank or in an
psychological, cultural, spiritual and emotional
investment that grows with interest.
drivers that affect and impact our financial wellness.
You owe it to yourself to take charge of all of your financial matters. You owe it to yourself to
One of the most well-known biblical parables
know how much money you have coming in and
is that of the prodigal son. In this story, we find
how much money you have going out. You owe
a timeless family triangle: an industrious father
it to yourself to have a financial snapshot and
who has done well for himself, an impatient
goals with dates attached to those goals. You
son who makes a fool of himself, and a jealous
have to get a handle on the situation so you can
brother who gets beside himself. The story’s
become financially free item by item, bill by bill,
catalyst is the demand by an impulsive young
task by task. My life changed completely once I
man for immediate access to the inheritance
took control of the resources that I had. Yours
he’ll receive upon his father’s death.
will too. After the young man gets his money, he quickly The problem that we have as people of the
turns his new prosperity into devastating
modern age is not a problem of information.
poverty. It doesn’t take long for him to burn
22 | LIVING
it. This written evidence will help you answer
makes a total mess of his life. Yet, this prodigal
the question of “where does my money go?”
son’s core problem is not immorality; his core
and help you start identifying what you need
problem is impatience. And impatience is not
to change. This practice of writing down an
an intellectual problem. Impatience is a spiritual,
inventory of expenditures applies equally well to
cultural, emotional and psychological problem.
your spiritual life. Becoming more aware of our
His father described him as having died!
thoughts and how they translate into attitudes
MONEY
through his cash with reckless living. In short, he
and get actualized in our behavior can benefit It’s impatience that drives us to buy things we
every area of our lives.
can’t afford, to use high-interest credit cards. When we spend money that we don’t have,
For the prodigal son to truly change, he knew he
money that we don’t know when we are going
had to return to his father’s house where there
to get, we’re experiencing a hellish existence.
would be rules and responsibilities. He knew
When the prodigal son realized the mess that he
he would have to submit to his father’s way of
made, he escaped from his self-imposed hell by
looking at life. But he also realized submission
going home to his father. He wanted to change.
was a better alternative than staying in hell, and his father welcomed him back as if he had just
If
we’re
going
to
get
out
of
our
been to heaven.
financial hell, we have to own the bad current
Is it time to humble yourself and get on the
hole we’re in. It’s humbling, but so is having a car
journey to a better life? The barrier to financial
repossessed or losing a home in a foreclosure.
freedom is debt. You have to have the kind of
It’s time to tell the truth about ourselves to
talk with yourself that gives you the courage you
ourselves. We have to talk to ourselves and
need to Say Yes to No Debt. It’s a life transforming
make sure no one else is listening so we can
commitment that you’ll never regret.
choices
we’ve
made
and
the
really tell the truth. This is how we get better spiritually and make a permanent adjustment in our attitude.
One way to begin the conversation with yourself is to compile a written list of everything you buy, everything you spend money on. Think through what you spend and why you spend
You owe it to yourself to take charge of all of your financial matters. LIVING
| 23
BUDGETING TIPS
1
UNDERSTAND THAT THE GOAL OF A BUDGET IS TO ENABLE you to
spend less than you earn so that you can save money to support the things you really want out of life.
2
TRACK YOUR SPENDING FOR A WEEK OR A MONTH BY WRITING EACH and
every purchase down. Review spending to determine what you spent on wants versus needs.
3
USE SMART GOALS to create a realistic spending plan that will help you stick to your budget.
MONEY MATTERS TOOL
DO Exercises in dfree® Lifestyle by DeForest B. Soaries, Jr. “My goal is that you will discover more about yourself than you do about money by the time you complete this experience. That is why I call it the dfree® lifestyle.” www.amazon.com
24 | LIVING
MONEY TOOLS & TIPS
When is the last time you created a household budget and stuck to it? If you have a budget, is it aligned with your life goals? A budget is a critical tool for life advancement. Today, with easy access to the internet and mobile apps, there’s an abundance of tools available to help you create a budget, track your spending and stick to your plans. In order to stick to a budget, you have to be committed. You have to maintain your focus and strengthen your patience so that you can sacrifice shortterm desires in order to achieve long-term growth and success.
WEALTH
BECOME A VICTOR, NOT A VICTIM, OF YOUR FINANCES by DeForest B. Soaries, Jr.
Take the challenge. Push the culture forward. Be an active member of dfree® and Join Billion Dollar Challenge.
the right way. People who know me know that I say, all of the time, don’t let the future catch you by surprise. My insurance story reminds me of the biblical parable of bags of gold in
When I was in my twenties, I was approached by
Matthew 25:14-30.
an agent from a reputable insurance company. He offered me an opportunity to invest in a fund
There, a journeyman is entrusting his wealth to
that provided both insurance and investment
his servants. He gives five bags of gold to one,
opportunities, and I took it. I wrote one check,
two to another and one to the last. Upon his
opened the account, and then never paid
return, he discovers the servants with the most
another dime. If I had continued with that plan
gold both doubled the man’s wealth while the
– instead of buying expensive clothes, instead
servant who was given only one bag buried it
of buying luxury cars on a small salary, instead
in the ground and gave it back to him. He calls
of eating in fancy restaurants – if I had stayed
the first two servants “good and faithful” while
in that fund faithfully for the next 40 years, I
he calls the last “wicked” and “lazy.”
would be a multimillionaire. In the end, we can come up with all kinds of My problem was not that I couldn’t afford the
excuses for why we’re in debt. But until we
plan. My problem was that I was not thinking
change our mindset, take responsibility, and
Don’t just join the movement, become an active member in our economic empowerment. LIVING WWW.BILLIONDOLLARPAYDOWN.COM
| 25
WEALTH
adopt a strategy for changing our situation we will
will pay you to water their plants, walk their
remain in a wicked, lazy state while others prosper.
dogs and cats and wash their cars. I have a buddy who has a big water tank on the back of
Getting control of our finances is empowering.
a truck and he’ll come to your house and wash
It’s also much more than just paying off
your car. Whether it’s baking sweet potato pies
debt and getting better interest rates. You
or drawing nice art that people will buy, you
have to have a strategy or you’ll end up like
can use your gifts, talents, skills and passions
professional basketball players, who make
to connect to people who will pay you enough
plenty of money yet 60 percent of them file for
for a second or even a primary job.
bankruptcy within five years of retirement. The reality is, if you make $500,000 per year and
You can use the power you have to access
spend $500,001 per year, you’re broke. That’s
financial management resources, many of
a whole lot of wasted bags of gold.
which are free like the Billion Dollar Challenge. When I was working to change my life by
So, you have to know your wants from your
changing my finances, I had to track things on
needs, you have to plug spending leaks, you
paper. Later, I was able to open an account with
have to have a budget, you have to review your
an online investment company and now I buy
debt paydown to revise it or stay on track, and
and trade stocks on my phone. Today, nobody
you have to think about how you can generate
should feel powerless because resources are
new income.
available and ample. When we feel powerless, we feel hopeless. When we feel hopeless, we
Not only do you have the power to take money
don’t even look for solutions.
you’ve saved and pay off debt (from cutting down on wants, plugging spending leaks and
You have the ultimate power over your own
using the snowball method to stop making
life and you can deal with any obstacle or
just minimum payments), you have the power
challenge if you have a strategy. Won’t you
of increase. You have the power to look at
join me today by becoming a victor, instead of
yourself and figure out what you do well, what
a victim, of your finances?
you love to do and who will pay you to do one of those things.
We live in a service economy. There are people who will pay for just about anything. People Don’t just join the movement, become an active member in 26 | LIVING our economic empowerment. WWW.BILLIONDOLLARPAYDOWN.COM
GROWTH
TOOLS & TIPS Changes to the tax code will
There are several websites,
affect your 2018 fillings, but
including those by tax service
how? It’s best to plan now so you
companies, that have tax
can adjust your spending where
calculators, which allow you to
needed. Because some of the
plug in your numbers so you
changes affect tax deductions
can get a good sense of how
for state and local taxes. Two
the new laws will affect you.
people earning the same income living in different states will be
Find tax bill calculators at:
affected differently.
> IRS & State Calculator 20052019 > Nerd Wallet
DEBT RELIEF TIPS
1 2
MAKE POWER CHANGES by choosing areas
3
LEARN ABOUT THE NEW TAX CODE, particularly deductions. You may not be
where you can cut back to pay off debt faster.
CREATE AN ANNUAL, QUARTERLY OR MONTHLY HABIT OF SELLING OR DONATING GOODS that you no longer need.
claiming money to which you are entitled or you may be paying too much in taxes by doing things such as not claiming the right number of exemptions.
GROW YOUR MONEY TOOL
If you’re like many Americans you are drowning in personal debt, looking for a way out. The Billion Dollar Challenge (BDC) is a dfree® interactive web tool that makes it easy for people to change their lifestyles, use reliable budgeting techniques and get rid of debt as part of a journey toward financial freedom www.billiondollarpaydown.com. The BDC’s goal is to educate, inspire and enable participants to collectively pay down $1 billion in consumer debt. The challenge is a free, national economic campaign made up of participants that are part of the dfree® Financial Freedom Movement as well as participants who sign up through the BDC website. BDC also provides support, through groups and rewards. JOIN THE CHALLENGE WITH A FRIEND:
www.billiondollarpaydown.com
LIVING
| 27
YOUNG MONEY
ON THE ROAD TO BILLIONAIRE, YOUR FIRST STOP SHOULD BE THOUSANDAIRE Daydreaming about billions is a common pastime.
It’s
thrilling
to
imagine
actions behind your objectives.
having
whatever we want at any time. Although joining
Start by writing down your goal. Research
the ranks of the 2,208 billionaires in the world
shows written goals are 42 percent more likely
seems impossible, so we just keep dreaming.
to be achieved. According to Think and Grow
But, did you realize the word “impossible” can
Rich Author Napoleon Hill, “A goal is a dream
also be read as “I’m possible”?
with a deadline.”
An example of a good money goal: I will open a savings account and save $1,000 in a year. Situations vary, but based on the above goal, savings of at least $2.74 a day or $19.18 a week will be required. To achieve success, track your The difference between dreamers and doers is
progress. For help in setting up your monetary
action. As Yoda, from Star Wars, says, “Do or
breakdown, check out this site to figure out
do not. There is no try.” So, if you are ready to
the exact number of days that fall between
start building your financial empire, make your
two dates: https://planetcalc.com/274/.
first stop at the thousandaire milestone. While $1,000 is a small sum in comparison to your
Using a notebook, write daily entries about
ultimate goal, it shows the power of putting
the goal, such as: feelings for the day, action
28 | LIVING
steps taken, lessons learned or even if the bar
2. When you get money as a gift, don’t spend
needs to be increased. The more you focus on
frivolously, consider it a capital investment
your goal and invest time the easier it will be
in yourself. Spending some money on yourself
to reach.
is fine, but always invest something in your future. Think beyond today and plan for the
Regardless of your situation create a budget.
life you want to live as a billionaire. Consider
It will assist in tracking spending. This may
putting half or more of that money into your
seem like a pain, but you track your Pinterest,
savings. Future you will thank you.
or Instagram followers so think about this the same way. Consider all the places you spend
3. Be the one to plan outings for your friends
money such as entertainment, shopping and
to ensure that events are economically priced.
restaurants, as well as any bills. Set realistic
Start by looking at the list of free events in your
amounts in each category. If your goal is
community, which could include concerts, free
a priority, consider making a drastic cut in
museum days and art events. Saving money
spending to increase savings.
doesn’t mean the fun ends.
Consider your income sources. If you don’t
4. Use YouTube and Pinterest to learn how to
have any, you need to get one quickly. Reflect
DIY (Do It Yourself). People teach lessons in
on your skills and determine how to monetize
how to do almost anything online. Instead of
them. Offer services to your community
pricey mani-pedis get your friends to meet at
including mowing lawns, babysitting, walking
your home and give them to each other. Think
dogs or teaching a class in something you know
about other things you can do for yourself.
well. You can also get a more traditional job. A word to the wise, some people may try to FOUR TIPS TO SAVE MONEY
stop you from reaching your goal. Others
1. Save all your change, even the coins you
might not see the value or have the discipline
find, in a container. Once the jar is full, take
to save money. Decide now to stand firm with
it to the bank. Have you noticed all change is
your choice. If it were easy everyone would do
stamped, “In God we Trust”? With each found
it. Success is at hand and you are on the road
coin consider that God’s telling you he’s got
to becoming a billionaire.
your back and you can reach your goal.
LIVING
| 29
FIVE IMPORTANT TIPS TO ASSIST WITH YOUR THOUSANDAIRE JOURNEY
1. Be grateful that you have set this goal. Did you know it’s impossible to feel grateful and negative simultaneously? Just keep moving forward and it will all come together.
2. Celebrate your accomplishments. Each time you put a deposit into your savings account verbalize your pride at yourself for the dedication to the goal. Recognized success causes us to thrive.
3. Read, listen to podcasts and talk to people who are financially successful. Others have been down the path you are embarking on, and they can assist with potential pitfalls and shortcuts.
4. Find a friend with the same goal. It can be a relative, a church friend or someone from dfree® Young Money. It’s great to have someone to talk to about your triumphs and struggles.
5. Don’t touch your savings. This is the seed money to be used for getting you to a billion dollars. Down the road, you may invest it, but this is not spending money.
If you start making financial changes today that most people won’t, then you’ll be able to live the way most people can’t for the rest of your life. One day you won’t be dreaming of being a billionaire, you’ll just be one. 30 | LIVING
“Impossible” can also be read as I’m possible.
YOUNG MONEY
Jumpstart the Journey to Financial Freedom dfree Young Money is a movement designed to awaken and educate youth and young adults ages 12–27 on the importance of incorporating financial freedom as a daily lifestyle. ®
ORE AT LEARN M
ey
on rg/youngm .o e e fr d y m
Our goal is to reach youth and young adults where they are, through mediums and with messaging that is age — and interest — appropriate in order to authentically jumpstart their journey to Financial Freedom.
LIVING
| 31
WOMEN EMPOWERMENT
FROM ONE MOTHER TO ANOTHER by Michele Thornton How many articles have you read in the past
I grew up in Oakland, California. My mom and
week, month, year? What have you done with
dad worked hard to send my brother and me
that information? Before you read this article,
to the best schools. In 2016, I wrote my first
decide that you will use these words to build
book, “Stratechic,” and I shared my story of
a plan and then execute it. It’s amazing what
how I did well in school and played basketball
happens when we decide to walk differently.
on the varsity team yet didn’t make any plans
I pray this article inspires you to make the
to go to college. Instead, I chose to get a job at
necessary plans and adjustments today!
a local naval base. This choice is critical to my story because I see this happening to so many young people. I was making decent money
32 | LIVING
but I began to accrue debt. When I wanted
appeared before me and was deathly silent.
to go back to school, I had so much debt that I
I could see the disappointment on his face.
couldn’t afford to quit my job. I was also in a high-
When I woke up, I remembered every detail
profile relationship at the time with a professional
of that dream.” As a result, I chose to end
athlete. Of course, I had to buy the best clothes
my relationship, I lost weight and enrolled in
and shoes to look the part. I was basically
college. To go to school full time, I worked
strangling all the possibilities for advancement in
at a hotel and cleaned houses on the side. I
my life, because I was burying myself in debt. In
also decided to file for bankruptcy, because I
my mid-twenties, I was overweight, in a miserable
could no longer afford to pay all the bills I had
relationship, overwhelmed with debt and had no college education.
Around my 26th birthday, I had a dream. I tell this story in my book: “I was driving across the Bay Bridge (a bridge that connects Oakland and San Francisco) and the road had huge holes in it. I stopped the car, because I feared for my life. When I got out of the car, I dropped to my knees. I was crying and praying. God
I made a promise to myself that I would never be bound by money again. LIVING
| 33
WOMEN EMPOWERMENT
amassed. It was a dumb decision and haunted
future, and I encourage others to do the same
me for 10 years. The better thing to do was
thing. I realized that when you give away your
to pay off the bills slowly over time with the
time to unworthy things and people, you don’t
help of a debt consolidation company. It was a
have the time and energy to write a book, build
painful lesson and one I will never forget.
a business, find the right loving significant other or take good care of yourself and your
During my speaking engagements, I’m often
children. TIME is the tool in my toolbox that
asked by attendees how I get everything done,
was the catalyst for all the great things that
especially being a wife and mother. And I ask
I’ve achieved.
them, “How can I afford not to get everything done?” My sacrifice will benefit my family
My family had to buy in to the time I needed
and community. I graduated from college in
to write my book and all my responsibilities as
my early 30’s. Right after graduation my dad
an executive. We had a family meeting where
passed away from cancer. I made a promise
I explained the sacrifice we all had to make if I
to my dad on his deathbed that I would make
was going to be successful at both. We all had
him proud. Yes, Walt Thornton would be proud
to make compromises. I understood that they
of my success as an author of two books and
expected me to be fully present when I was
becoming a BET media executive, but his real
at home, and attend specific events at school
pride would come from the fact that I have an
and outside sporting activities.
amazing family. I’m in constant communication with the school Can women have it all? Yes! Just not ALL at
and coaches to ensure that I have my calendar
the same time. Women are born nurturers. We
up to date with all major events. When you set
instinctively take care of others’ needs whether
expectations, and deliver on the agreed upon
it’s at work, home or in the community. It’s
plan, all are happy.
one of our best characteristics and one of the characteristics, if not managed, can be the
What and who will you give up today to take
reason we never reach our true assignment in
some time back to plan for a better future? To
life. We cannot afford to give away our time
build your plan and become Stratechic?
and money to people who have not earned it. I literally created an elimination list of people
After you get some time back and build a plan,
who were taking up valuable space in my
you must get your money right. I made stupid
34 | LIVING
decisions and wasted so many years because
your area who may help you find your way to
I made bad money decisions. Dr. Soaries says
financial wellness.
it best: “No debt, deficits and delinquencies.” I made a promise to myself that I would never be
Success is intentional. Success takes sacrifice.
bound by money again. That’s easier said than
Success takes resources. If I can build a plan
done. Having a family is expensive. Taking care
for success, I’m positive you can too! If you are
of a parent is expensive. Money just seems to
serious about the next phase of your life and
fly out the door. We made some good financial
want a strategy session, send me a note on
decisions as a family, and we weren’t afraid
LinkedIn! Let’s Go!
or embarrassed to find a financial planner. The biggest decision we made was to buy a house we could afford on one salary. We also have enough life insurance so that if anything happens to my husband or me, our family is protected. I also save a portion of every check I receive. I would 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 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
| 35
WOMEN EMPOWERMENT
GET CONTROL: LESSONS FROM OUR GRANDPARENTS by DeForest B. Soaries, Jr. When we can prove that we are capable of
My paternal grandmother was a sixth-grade
taking control of our finances, because we’ve
graduate and a self-made woman. Her skill
taken control of our lives, not only can we live
was sewing and so she became a seamstress.
a more care-free and less stressful life but we
She raised six children and after she had her
also can be in a position to really be a blessing
sixth child her husband had a stroke. As a
to our families and future generations.
black woman growing up in New York in the 1900s, my grandmother had tremendous
To get my mind in the right place and get control
responsibilities.
of my finances, I looked to my grandmothers as inspiration. My maternal grandmother was a
What’s interesting is both my grandmothers
domestic worker. She worked for rich people.
owned their own houses, which they passed
She cooked their food, cleaned their houses,
on to family, and always had money. If you
ironed their clothes and helped raise their
wanted a little money from Grandma Pinkard,
children – all while raising eight children and
she would turn around, pull a handkerchief out
two grandchildren of her own with a husband
of her bosom and give you a couple of dollars.
whose disability stopped him from working.
If you wanted big money, $10 or $15, she would roll up her skirt, reach in the top of her
36 | LIVING
stocking and pull out big cash. The bosom was
Yet whenever I asked dad for a loan until
the credit union; the bank was the stocking.
payday, he would say, “Son, you work every single day. Why is it that every other month
I decided that if my black grandmother – with
you need to borrow money?” And I’d say,
no education, no civil rights, in the 1900s, with
“Dad, I don’t know where my money goes.” My
no husband to support her – could die and
dad would look at me and say, “It doesn’t leave
leave me my first house, then shame on me –
home while you’re sleeping. The money goes
with my civil rights and all of my activism and
where you take it.”
all of my education – if all I have to leave when I die is credit card bills. I decided to take control.
You have to look at every single penny you spend as you spend it. Track it. Write it down
My grandmothers taught me three things
or put it in the notes on your phone. Make sure
about finances: 1) set short-term financial
you are spending on needs, not wants.
goals; 2) identify spending leaks; and, 3) list all income and expenses to give shape, form and
When we get to the budget, budget is not a
life to what we call a spending plan, commonly
nasty word and it’s not a restrictive word. A
known as a budget.
budget simply says that I have this much income and I have that many needs flowing an
from my expenses and I have to make sure I
opportunity to celebrate victories along the
have a balanced budget. I want my expenses
way and gives you something achievable on
to be not only no higher than my income, I
your way to your big dreams. It’s important
want my expenses to be lower than my income
to write down these goals. Once I was serious
because I need a cash-flow strategy.
Setting
short-term
goals
gives
you
about taking control, the first thing I did was sell my luxury car that was taking too much of
Is it easy? Of course not. Yet, you get control
my income every month. I paid cash for a used
by laying a firm foundation for your new life
car – with no air conditioning, two doors and
of freedom. Fundamentally, any plan that is
a stick shift.
going to work in advancing your freedom must be fueled by the power of your motivation.
Spending leaks are just that – you don’t know
Attitude and action go hand in hand. If my
the money is gone until it is gone. Now, my
grandmothers could do it, if I could do it, you
father was very supportive of his eldest son.
can do it. Get free. Get control.
LIVING
| 37
#BALANCEFORBETTER FOR INTERNATIONAL WOMEN’S DAY
The gender gap is widening, with it now predicted to take 217 years to achieve gender parity instead of the previously estimated 170 years, according to the World Economic Forum. Yet with efforts like #METOO, #TIMESUP and dfree® Women’s
Empowerment, there’s no better time to #BalanceForBetter, as the 2019 theme of International Women’s Day, March 8. The focus on women continued throughout March, for Women’s History Month.
What can you do to take a stand and join efforts without breaking the bank? Here are some ideas:
38 | LIVING
some videos (http://bit.ly/2m3Iux1) such as the UN’s Leave No One Behind (http://bit.ly/2GFlywf) or movies like Hidden Figures and discuss.
>
COMMIT
TO
ly/2DUmdvz), like
AN
ACTION
nominating
(https://bit. women
for
opportunities and questioning assumptions about women.
> IF YOU’RE A WOMAN, take care of yourself
> CONNECT TO WOMEN by becoming an
by meditating, starting a new exercise routine
active mentor/mentee.
or reading a woman-authored classic like Zora
> COMMEMORATE WOMEN
who make a
difference by doing so yourself. Decide how often you can volunteer, pick an organization, join and contribute regularly.
Neale Hurston’s Their Eyes Were Watching God. If you’re a man, take care of a woman you love by pampering her with foot and shoulder
WOMEN EMPOWERMENT
> HOST A POT-LUCK VIEWING PARTY, pick
massages, home-cooked meals, etc. > INTERVIEW THE MATRIARCHS of your
> PLAN A WEEKLY ACTIVITY this month where you and your family can learn more about women’s history, such as visiting museums or
community, either on video or paper, and organize your results for the local historical society or library.
art galleries. > HOST A TRIVIA GAME NIGHT that focuses > INVOLVE OTHERS by planning social media
on
posts that celebrate women and educate about
celebration of the women in your community.
gender parity.
> IF YOU’RE A WOMAN, ask for a raise or
women
or
organize
a
neighborhood
review the salaries of the women who report to you. If you’re a man who supervises women, do the same. > GIVE YOURSELF A RAISE by focusing on your talents and what you do that you can turn into a business. > DETERMINE if you can double your savings goals for the next 30 days. LIVING
| 39
INSPIRATION
CLOSE-KNIT GOD’S GURLS TALK MUSIC, MINISTRY AND MONEY Many people are shocked, then excited
God’s Gurls wants your commitment.
when they witness Trunae Green and her
“Music puts people in a different place.
sister Trulyse Lands show up at a gig with
You can be in the most horrible mood
their guitars.
and if you listen to the right music it can change your whole perspective,” said
“They are petite women and people think
Trunae, who serves as music director, lead
they’re little girls, yet they are gifted and
guitar, background singer and writer. “As
talented women,” said their aunt, Pastor
it relates to music and ministry, we desire
Shon Brooks-Kidd, another member of
for our music to be life changing, to bring
God’s Gurls, also known as GG. “The looks
inspiration to people, to bring them to
on people’s faces -- when they plug up
know God.”
their instruments and start playing -- it’s always the best response!”
MUSIC IN THEIR VEINS
Born in the Atlanta-based Family Life And once they’ve gotten your attention, 40 | LIVING
Missionary Baptist Church 10 years ago,
and listen to blues, you can become even
Christian gospel, traditional gospel, jazz,
sadder. If you’re angry and listen to heavy
R&B, and rap. Currently, the five-members
metal, you can become angrier. It’s why
are rounded out by Shakiera Brooks and
we sing gospel. It’s our prayer that when
Consuelo “Connie” Brown, prime lead
people hear our music and our lyrics they’ll
singer.
themselves:
be led to Christ. They’ll say, ‘I want to know
“God’s Gurls is a group of beautiful, saved,
that God; I can have a relationship with that
educated women who play and sing music
kind of Jesus.’”
As
they
describe
INSPIRATION
God’s Gurls presents a mix of contemporary
as a band to glorify God.” They also run their own label, TruFaith Music LLC, and are
God’s Gurls first album, released in 2012, was
managed by the sisters’ parents, Bishop
updated and re-released early in 2018. The
Alfred T. Lands and Assistant Pastor
music is available on Amazon, (https://www.
Rosemary Lands.
amazon.com/gp/product/B009NYUI24/ ref=dm_ws_sp_ps_dp),
iTunes
(https://
Their story is a family story of generations
itunes.apple.com/us/album/gods-gurls/
of pastors and singers, so several of God’s
id567901230), and their website (https://
Gurls grew up singing, dancing, playing
www.onemilliongodsgurls.net/).
instruments
and
otherwise
expressing
themselves through praise music. Shakiera,
Trunae’s favorite song from the album
who is from New Jersey but joined the
is one she wrote, Psalm 40, just after her
group after moving to Georgia to attend
grandfather’s passing. It’s about turning to
Spelman College, is now married to Rev.
God, trusting his plan and having patience.
Darien Brooks, a vocalist, who is cousin
“God spoke to me and told me to turn to
to Trunae and Trulyse and Shon’s nephew.
Psalm 40 and the melody and everything
The family affair keeps the women laughing
just came,” she said.
and humble. For Trulyse, who sings lead and background “Music can be life changing. That’s why
vocals and plays bass guitar and drums,
there are so many different genres of
picking one favorite song is next to impossible.
music,” said Pastor Shon, who sings lead and
background
vocals.
“Depending
“All of them are favorites, each for a different
on what mood you’re in, you have to be
reason,” Trulyse said. “I guess I relate best to
careful to what you listen to. If you’re blue
the song entitled Sunday that encourages LIVING
| 41
friends to get to know Jesus for real and stop
MUSIC AND MONEY
playing! To see what He’s all about. The ones
Aside from growing their ministry, God’s Gurls
that encourage people to come to church and
said they want to learn as much about the
be a warrior. You may not understand yet but if
business side of the music industry as possible
you start speaking to Christ, you will.”
– especially since they occupy a space where those who request the group can’t always
MUSIC IN THEIR SOULS
meet their financial obligations.
God’s Gurls has given themselves a challenge to use their ministry to recruit one million women
“If your heart is right, we don’t mind being
to also become God’s Gurls. They want women
a blessing even if you can’t fully meet the
to become active in their spirits so they can
financial obligations,” Trunae said, noting
live happier lives and do more for themselves,
that there is a practical need to understand
their families and their communities.
money and compensation. “We want to put out our very best. We want to have the best
“We have a phenomenal campaign as part of
production and best tour. We want our stuff
our ministry. We talk to women about living a
to be 5-star and that just can’t happen without
lifestyle to glorify God,” Shakiera said. “We want
money. Money is really a tool to further your
one million girls and women to join with us and
goals. You also need resources to put work
take a stand in being women of God. Often
back into the community and to be helpful to
times, we have people who say they are Christian
the community.”
but are not committed to the lifestyle. We are encouraging women and helping them know
Trunae said that her mother often talks about
you really can live a life committed to God.”
being “free” in her ministry and that the concepts found in the dfree® Financial Freedom
Shakiera added that too often women tear
Movement align well with the goals of God’s
each other down while God’s Gurls wants
Gurls. It’s helping them get a better handle on
them to build each other up. The commitment
the music industry and their personal finances.
includes a few serious yet achievable promises
Shakiera noted that even though moving to
to: have a relationship with Christ; maintain
Atlanta for college was a positive experience,
abstinence until marriage; be a true friend;
the student loan debt that she now has is not.
value education; share success, and respect
She said that, had she been introduced to
one’s self and others.
dfree® earlier, she would have made different decisions about college. But, now that she
42 | LIVING
and her husband are planning for their
and rapper Brandon “B-Lat” Latimore,
children’s futures, they’re using dfree® as a
God’s Gurls sees great expansion over the
guide to become more successful.
next 10 years.
Pastor Shon said she’s also brought the
“God has given us this gift to go out and
dfree®
bring to others,” Trulyse said. “We’re blessed
concepts
back
to
Milwaulkee,
Wisconsin where she lives.
and we want to be a blessing to others.”
“Often African Americans don’t like to
To become one of the million God’s Gurls,
discuss money because they don’t feel they
fill out the form on the GG website (https://
have any. They don’t feel they are wealthy,
www.onemilliongodsgurls.net/become-
so it’s not worth discussing,” Pastor Shon
a-gg). Follow God’s Gurls on Facebook,
said. “If we’re only living check to check
Twitter and Instagram @GodsGurls.
or robbing Peter to pay Paul, there’s not a lot of room for discussion because they are barely making it. We convince people there is a way. We use our music as a tool to minister and to get people to open up. Many people are afraid. They’ve been hurt and taken advantage of, so they need to know there is safety in Jesus.”
One of the top needs in her community, for instance, is for black families to buy life insurance.
“People are afraid to talk about life insurance because they are afraid to die,” Pastor Shon said. “We make them feel comfortable and that they are loved, and with God and family there is always a way to make it work.” With their own work and that of their other signed artists, including Rev. Darien Brooks LIVING
| 43
the
PULSE of MENTAL, SPIRITUAL and FINANCIAL HEALTH.
ALL NEW EPISODES
BE AN ACTIVE MEMBER OF dfree® LISTEN, DOWNLOAD AND SUBSCRIBE
44 | LIVING
#DFREEINTHEBLACK MYDFREE.ORG
NEST EGG
LIVE A RICHER LIFE BY PLANNING FOR DEATH by DeForest B. Soaries, Jr. Have you ever considered where you want to
Financial wellness is a term that is often
retire? Can your mind conjure up a specific
used, but not always understood. “It is more
place where your favorite things surround
than finances. It’s how you feel about your
you, and you’re living your best life? Salene
finances,” said Gear. In a 2016 Prudential
Hitchcock-Gear, President, Individual Life
survey, they discovered that 78% of people
Insurance for Prudential, shared her vision
didn’t feel financially secure. That affects
for retirement with the attendees of the
your health as well as your professional
dfree® Homecoming Conference. Gear’s
performance. The question becomes how
plan is to retire somewhere on a beach near
to do something about it.
a coffee shop and a bookstore. If she finds the ultimate beach without access to a
The irony regarding our worry around
coffee shop or bookstore than she plans to
money is that while our fear may throw
open them herself. Meaning her retirement
us off base, we continue to be optimistic
must be well funded.
that everything will work out, even with no plan. The problem is that “We don’t put action and motion into place to take care
LIVING
| 45
of things. Buying a lottery ticket is not a
long-term, markets are long-term,” said
financial plan,” said Gear.
Gear. Your professional will educate you regarding changing markets and help you
Some people are great at stretching money
address the anxiety that can result in a fear
to the point of making a dollar scream
mindset.
because it has been taken further than initially thought possible. Unfortunately, it
Financial professionals help you develop
doesn’t earn anything for you. “We need
your plan, outline your goals and reach them.
to get our mind around what is going to
They are beside you every step of the way.
matter. Don’t pay interest, earn interest.
Gear said, “Set up your plan, stick with your
You don’t have to have a lot of money to
plan and realize your goals with Prudential.”
live well,” said Gear. Go back to your dream of retirement. Are Start by planning for simple things that
you ready to move it from the dream to
make a difference. “Take care of what you
reality category?
have, plan for your future and educate yourself as much as you can about how to maximize what you have,” said Gear. Consider putting your money into three buckets, “One, for now, one for later and one for much, much later,” explained Gear. Also, get help from a partner that can turn your daydreams into reality. The single biggest difference between people who have more money saved and those who don’t is a financial advisor. “Research shows a 40% differential,” said Gear.
Without a financial advisor when the market is hot, most people buy. Conversely, when the market is soft, people sell. “Financial professionals remind you that goals are
46 | LIVING
Set up your plan, stick with your plan and realize your goals with Prudential.
NEST EGG
7 HABITS OF FINANCIALLY FREE PEOPLE by Maddie Brooks Do you want to be financially successful? Yes?
of what needs your immediate attention so you can
Then you may be wondering, what do financially
approach your finances with eyes wide open.
free people do differently? Here’s the short answer: they’ve adopted the right mindset toward money,
2. Automate your savings. Set a savings and
and they have consistently practiced healthy
investment amount for each of your financial
money habits.
goals or responsibilities (i.e. college funding, home ownership, insurance) and have it automatically
It takes self-awareness, knowledge and dedication
deducted from your paycheck. Keep the funds
to begin managing your money in a way that leads
separate from your checking account. You will
to financial security and independence. But the
likely be less tempted to spend what you don’t see.
good news is you can do it! And Prudential is here to
Like they say, out of sight, out of mind.
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.
1. Organize all your financial paperwork. That pile
Not next week. Not when you get a raise. Not at
of mail on your kitchen counter and those stacks
some other convenient time. TODAY! Because the
of paperwork on your desk are costing you. Once
money you put in your retirement fund now will
you have everything in front of you, make three
have more time to grow. After all, people are living
piles, “pay, file and shred,” and then, do just that.
long after they retire, and you want to enjoy that
No matter how you go about it, you must open
phase of your life. You earned it!
your mail and organize your paperwork. Be aware
LIVING
| 47
NEST EGG
4. Take control of your spending – with a budget.
com to set up a complimentary consultation where
Being intentional with how you spend your time
we can discuss your needs, or visit http://www.
and money can give you control of your finances
changingourstory.splashthat.com to request to
— and your financial future. You gain control when
speak with a Prudential Financial Professional in
you create a budget plan. Allot a set amount or
your area.
percentage for each of your 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.
48 | LIVING
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.
The Billion Dollar Challenge was created to help tackle debt and savings with our online tracking tool. It’s fun and easy. You can do it with a group too!
HOW TO GET STARTED
1 2 3
SIGN UP
On billiondollarpaydown.com by clicking the ‘JOIN NOW’ button
FOLLOW
Prompts on the screen to personalize your dashboard and plan (also available under the tutorial tab in the menu)
JOIN
A group by searching for a group under the group tab in the menu
LIVING
To learn more, visit billiondollarpaydown.com
| 49
OUR PEOPLE
FINANCIAL DIS-EASE: DON’T FEEL BAD UNLESS YOU DON’T CHANGE YOUR SITUATION by DeForest B. Soaries, Jr. Financial indebtedness is a new form of slavery.
own personal financial responsibilities. I had
There’s no doubt; the financial system is
proposed solutions for solving huge social
stacked against African Americans. According
problems but had never balanced my own
to one recent study, The Ever-Growing Gap,
checkbook. I had fought for justice and equality
the wealth gap between black and white
but could not afford to make a donation to a
Americans is so extreme that it would take 228
black college, the NAACP or any other cause
years for black people to obtain on average
I supported. Fortunately, my shame and
what white families have today.
humiliation motivated me to take actions that changed my life.
As bad as the situation may be, it will only get worse unless you act now to gain control over
You have to find your motivation. Think deeply
your finances. I know just how debilitating
about the reasons you spend money you don’t
being broke can be. While my parents taught
have, or why you don’t budget and why you
me by example to be frugal, once I left their
don’t worry about paying bills on time. Maybe
household I found myself far from following
you never had any luxury you wanted as a child
their lead. I had never felt so unaccomplished
so you’re determined not to deprive yourself
and
about
as an adult. Maybe your parents sacrificed so
social change, I had done nothing about my
you could have everything you wanted but
50 | LIVING
incomplete.
While
passionate
As a pastor, I turn to God when I need help
it just makes you feel good to have new stuff.
with difficult situations. One powerful biblical
And who doesn’t want to feel good?
example of someone who knew how to take on new tasks and succeed is Joshua. Joshua,
While immediate gratification has become
the great conqueror who led the Israelites
almost synonymous with being an American,
after Moses, knew that success required the
the consequences of indulging this behavior
right attitude. Anything worth doing is worth
are long-term and severe. The deeper in debt
attempting to do very well. Great ideas do not
you get the faster your debt accumulates,
guarantee success. Rather, it is great execution
thanks to things such as interest rates, late
of
fees and poor decision-making. If you’re in
outcomes. Great execution is execution that is
this situation, you’re not alone. According
saturated with integrity – doing what is right
to a Prudential study, a majority of black
versus doing what is expedient. There are no
Americans reported having debt, particularly
shortcuts to success. Someone is always going
credit card debt, while at least half reported
to accomplish great things in order to get
that reducing debt is a top priority.
great results. Furthermore, achievement does
great
ideas
that
produces
OUR PEOPLE
never showed you the price they paid. Maybe
successful
not happen by accident; it happens for those The gap we need to focus on is the gap
who aim high, remain focused and, I believe,
between wanting to eliminate debt and
follow God’s instruction.
actually eliminating debt. It takes discipline and determination. It won’t happen overnight.
The most important step to annihilating
Yet, one of the most important things you can
financial dis-ease is setting your mind right.
do is make up your mind now to live debt-free.
You must want to break the chains and end
Decide today that you are going to change
financial slavery. With a clear and determined
your situation. If blood were streaming from
mind, you can properly assess your finances,
your arm, you wouldn’t bandage it and think
or address the mess, and be on your way to
about it later. You would seek immediate
gaining control of the situation.
medical help. Yet you’re allowing your finances to bleed you dry at a time when there’s plenty of help available.
LIVING
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FINAL WORD WITH PASTOR TREVOR HYDE, JR.
dfree® Loyalty Leader Church Ambassador Pastor Trevor Hyde, Jr., from BEREAN BAPTIST CHURCH OF BROOKLYN, NEW YORK, has said, “Money goes where you tell you it. Money does what you make it do. If you want it to grow, you put it where it can grow. If you want it to disappear, you spend it on things that will not return any sense of value to your life.”
52 | LIVING
PRUDENTIAL IS THE PROUD TITLE SPONSOR OF THE DFREE® FINANCIAL FREEDOM MOVEMENT
Prudential is here to help you make the decisions that will have a lasting impact on your financial wellness. For more information, please visit us at www.prudential.com #PruEmpowers
dfree™ and Financial Freedom Movement™ are trademarks of the Corporate Community Connections, Inc., which is not affiliated with The Prudential Insurance Company of America or its affiliates, Newark, NJ. Each company is solely responsible for its own financial condition, content, liabilities and contractual obligations. 0317582-00001-00
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