2013 Financial Literacy Supplement

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2013 Supplement on Financial Literacy

Each One, Teach One ( to S a ve )

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Each One, Teach One (to Save) One of the first things any young person learns about money is how easy it is to mismanage. Years ago, (some) high school and college students, with brand new check books in hand, came to understand the terms, “bounce,” and “insufficient funds,” and may even have had their names posted in the in-house directories of grocery or department stores as bad check writers. As the new generation (Millennials) enters the financial expressway, replete with instant and direct spending via electronic shopping, money transfers, and the use of debit cards, financial mismanagement has become equally instant.

While some social commentators insist that the routine practice of paying oneself first (saving a percentage of each paycheck) would eventually lead to a nest egg of ready-cash that could then be moved into different money-yielding accounts, the average American finds saving any portion of their paychecks near to impossible. The “you can’t save what you don’t have” model, however, under closer observation, shows millions of Americans living beyond their means, wasteful in their choices of expenditures, and following a blind pattern of spending all of their money in between paychecks, making them literally, dependent on the arrival of the next paycheck.

Bishop T.D. Jakes likens the inability to spread money or financial security from one generation to the next a “curse” that forces each generation to begin again from zero. Jakes, like financial experts around the nation, have suggested that Americans begin making necessary sacrifices of sundry purchases in order to secure their own futures. Daily trips – often twice a day – to Starbucks to purchase cups of coffee that average $5 each, purchases of any electronic item that is merely a “want” rather than a “necessity,” and purchasing new items when used ones (like cars) would function just as well, are some of the sacrifices easily noted.

These sacrifices become common sense approaches to financial security when unexpected recessions or unforeseeable events, such as the current government shutdown occur. Educator Justin Longmire in a lecture once said, “It is time to stop wearing wealth on your backs, and investing in items that depreciate in value the moment you take possession of them – like cars. In order to secure wealth, you can’t be the man making copies in the basement, wearing Armani suits and driving a Jaguar, while the CEO in the penthouse is wearing one from Sears & Roebuck and driving a 1980 Volkswagon Beetle. He can pay his kids’ college tuition in cash, and you are begging for the government to give your kids loans, or help with your mortgage.”

Financial literacy means making long-term plans by determining what is really needed for daily survival. Anything above and beyond those financial figures is wasteful, and that money could easily e re-appropriated into that nest egg for the future. As the Washington Informer promotes healthy financial living, we encourage our readers to examine more fully the roles they may play in their own financial insecurity. We are providing tips to single mothers, and Informer senior writer Stacy Brown offers useful tools to students and those seeking non-traditional banking solutions, such as payroll cards. Mr. Brown also profiles a local family who was able to eliminate a mountain of debt that kept them from living their best lives. We hope these stories prove beneficial to you.

Read & Enjoy.

Shantella Y. Sherman Editor, Special Editions

FL-2 October 2013 Washington Informer FINANCIAL LITERACY SUPPLEMENT

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Money Matter$

By Hermond Palmer VP/Director of Marketing and Sales

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Identity Theft

By Hermond Palmer Vice President, Director of Sales & Marketing What is identity theft? Identity theft occurs when a thief obtains critical pieces of personal information they can use to impersonate someone else to secure credit; obtain merchandise or services in that person’s name. Examples of the personal information include a Social Security number, bank account number and PIN, and driver’s license number.

Identity theft is categorized in two ways: true name and account takeover. True name identity theft means the thief uses personal information to open new accounts, such as a new credit card account or a new checking account. Account takeover identity theft means the imposter uses personal information to gain access to the person’s existing accounts.

In this situation, the thief will typically change the mailing address on an account and run up a huge bill before the victim whose identity has been stolen realizes there is a problem.

With Identity theft, there can be serious consequences for the individual whose identity has been stolen if that victim is held accountable for the perpetrator’s actions. As with the victims, the companies, institutions, and individuals who are deceived or defrauded by the identity thief can also suffer adverse consequences and losses. If you think you could not be the victim of identity theft, think again. Identity theft is one of the fastest growing crime categories of our day, which begs the question, “How does identity theft occur? “ Identity theft typically occurs when thieves gain access to sources of personal information such as account statements, old receipts, discarded checks

and other potential sources through theft of a home, car, or pick pocketing a wallet or purse.

Other methods used to obtain personal information include: • Searching through trash for personal information, also known as dumpster diving • Spying on victims typing their login credentials, credit/ calling card numbers, etc. into IT equipment located in public places, otherwise referred to as shoulder surfing • Stealing bank or credit cards, identification cards, passports, authentication tokens ... typically by pick pocketing, housebreaking or mail theft • Skimming information from bank or credit cards, using compromised or hand-held card readers and creating clone cards • Stealing personal information from computers, using breaches in browser security or malware, such as Trojan horse keystroke logging programs or other forms of spyware • Impersonating trusted organizations in emails, SMS text messages, phone calls or other forms of communication in order to trick victims into sharing their personal information or login credentials, typically on a fake corporate website or data collection form, most commonly known as phishing How can you protect yourself ? As with many things, knowledge is power. Knowing the techniques thieves use to access your personal information is half the battle. Here are some helpful tips to assist you in protecting your identity: • Never share any personal information with any individual without first verifying their identity • Only allow sensitive correspondence (mail) to be delivered to a secured mail box or location • Always cover or block from view the keystrokes you use to enter your PIN for any purpose • Shred all confidential

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information before throwing it into trash • Report all lost or stolen

credit cards immediately • Make it a practice to review all of your financial statements including bank, credit card, investment, and retirement accounts to ensure there is no illegal activity affecting your accounts Expand your knowledge

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Budgeting and the Single Parent Money Matter$

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By Melanee Woodard

Senior Marketing Associate www.industrial-bank.com

By Melanee Woodard Senior Marketing Associate Many parents strive to provide their children with things they themselves did not have growing up, and for a single parent with one income this could be extra challenging.

Sometimes, to the detriment

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of their financial situation, a parent will do whatever he or she needs to do (including going into debt) to provide those “things”; that new toy, pair of tennis shoes, expensive birthday parties etc. Before they know it, they are depending on various types of credit, or even retirement funds to acquire

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these “things”. It is not until thousands of dollars later, they find themselves deep in debt, on the brink of financial ruin.

It doesn’t matter if you are a one or two income household the results are the same if you are not using sound financial principles.

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is important to determine the difference between a want vs. a need. Asking the question, “Why do I need this” before making a purchase will bring insight as to whether or not making the purchase is an appropriate decision. It takes self-reflection and accountability to change life patterns. A single parent may hear, or read about how to live on a budget and think the speaker doesn’t know what it feels like to raise a child with one income, or that the speaker has plenty of money. While a speaker may not have children, in many cases a person has experienced the worst in a situation before they have experienced the best – including being financially successful.

As a single parent, we often delay, or sacrifice our dreams.

Having your own dreams and goals in addition to the dreams you have for your children is vital to your personal and financial success. It also helps to maintain a life balance. Pursuing your dreams gives you something to strive for and most dreams require money.

A lack of money and having lots of debt can be a hindrance to accomplishing your goals.

Though you don’t need money to get started with researching and developing your plan for success, you will need money to buy goods and services relevant to your dreams.

Following a budget is extremely important, even if it shows you don’t have enough money at the end of the month. It may not feel like it, but this process can be the start to a prosperous future. It doesn’t matter if you only have one income, as long as you can learn to work within that budget. Whatever your current financial situation, it’s never too late to develop sound financial principles. If you wish to achieve financial freedom, it is imperative that you obtain and act upon as much financial knowledge as possible. Equally important, share that knowledge with your children.

Here are a few money tips and resources. Keep in mind, information and knowledge are great, but without action they have no value!

STOP! Before making your next purchase, take your bank statement and bills from the previous month and create your budget.

START! Living within your budget. Habits take time to break as well as adopt. Research money management topics and find what works for you. For example, using envelopes labeled with certain categories i.e. food, gas, dry cleaner, etc. can be helpful. Put only what you have budgeted for each category in its respective envelope. If you find you have spent it all before the month ends, reevaluate the amounts you have allocated to each category and consider what you spent and why. Remember, choose what works for YOU – that’s the best way to gain discipline in any particular area.

FOCUS! Stay focused on your long-term goal of being financially free and living your dreams. Always ask, “Will this purchase delay my goals and dreams?”

TEACH! Teach your children what you have learned about financial education. You can grow together. FL Books: The Difference – How Anyone can prosper in even the toughest times – Jean Chatzky The Difference – Wealth Building Journal, Jean Chatzky How to Raise a Family on Less Than Two incomes – The complete Guide to Managing Your Money Better so You Can Spend More Time with Your Kids – Denise Topolnicki Websites: http://www.financialliteracymonth.com/Tools-for-Success. aspx h t t p : / / w w w. e h o w. c o m / how_2288123_effectively-budget-money.html http://apar tments.about. com/od/moneybudgeting/a/ createabudget.htm

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Education is the Key to Financial Literacy Despite many programs, most say the key is teaching money matters to the young

By Stacy M. Brown WI Contributing Writer There’s little question that the Wall Street meltdown and housing collapse were results of an exorbitant number of people who borrowed large sums of money to purchase homes, but had no clue as to what they were getting into financially, many economists said.

“The last economic downturn is a clear demonstration of the need for financial literacy to be taught in high schools, colleges and to adults,” said Sherman Ragland, a best selling author and visionary at Real Investors, LLC, in Upper Marlboro, Md. “This is especially true when it comes to the purchase of a home, which for most Americans, is the single largest financial commitment they will make,” said Ragland, co-author of, “New Rules of the Game,” a New York Times best-seller.

However, a recent study on the state of financial literacy programs in public schools ranks only seven with an A and 22 with a grade of D or F. Virginia earned an A while Maryland graded a D in the study, performed at the Center for Financial Literacy at Champlain College in Burlington, Vt. Officials omitted the District of Columbia The study also revealed that parents are no more comfortable talking to their children about

sex than they are about money, so young people aren’t learning about finances at home, either.

“If you grow up around money and you tend to have conversations at the dinner table about savings accounts and checking accounts, there is a familiarity that helps promotes financial literacy,” said Martin A. Smith, president of Wealth care Financial Group, Inc., in Bowie, Md. “This is how financial literacy grows, it’ll produce after its own kind and everyone needs to know that,” Smith said.

The Department of the Treasury in Northwest and the Department of Education in Southwest recently began sending lesson plans to American public schools to encourage competing in a national test on financial capability.

“It’s a great idea, because children learn about savings and about debt, which is real today and will be real in decades to come,” said Peter Abrams, an economist in Largo, Md. However, multiple reports suggest that many U.S. school districts and parents have not been as receptive to a financial literacy lesson plan as government officials had hoped. “We have two generations of parents that haven’t gotten this kind of education in school,” said Nan Morrison, president and CEO of the Council for Economic Education in New York. “So, how do you ex-

College students often apply for and receive credit cards, despite having no regular employment, no established credit, and a lack of financial literacy. As a result of mismanagement, many students often find their credit in disrepair upon graduation. / Courtesy photo.

pect them to pass it on to their children?”

Morrison said schools are finding it challenging to implement a new subject because they must focus on the core curriculum.

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FL-6 October 2013 Washington Informer FINANCIAL LITERACY SUPPLEMENT

Still financial education early counts as a key to long term financial literacy, said Bennie Walker, professor of finance and real estate at Longwood University’s College of Business and Economics in Farmville, Va. “We piloted a dual enrollment personal finance and economics class program with a local high school. It was an amazing success,” Walker said, noting that many of the students and their parents wrote notes praising the program and the impact it has had on their lives.

Earlier this year, the Consumer Financial Protection Bureau (CFPB) in Northwest released the authoritative report, “Transforming the Financial Lives of a Generation of Young Americans: Policy Recommendations for Advancing K-12 Financial Education.”

“Financial education should be as fundamental as the education we are all required to receive in American history and government. We must be deliberate about pursuing financial education in our schools,” said CFPB director Richard Cordray.

The report outlined five policy

recommendations, supported by the CFPB, including introducing key financial education concepts early and continues to build on that foundation consistently throughout the K-12 school years.

The bureau suggested officials encourage parents and guardians to discuss money management topics at home and provide them with the tools necessary to have financial conservations with their children.

“I am a firm believer that educating kids from a young age is imperative if the United States intends to be a major competitor in the global marketplace in the future,” said Andrew G. Poulos, the author of, “QuickBooks Ultimate Lesson Guide C,” and producer and host of the Savvy Money Show, a weekly radio financial talk show.

“There should be programs and courses offered on financial literacy and money management not only in college, but in middle and high schools,” Poulos said. FL

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D.C. Couple’s Journey out of Debt Financial freedom achieved by Southeast family who eliminated $30,000 in debt

By Stacy M. Brown WI Contributing Writer David Mills remembers the date, April 14, 2009, as if it were yesterday.

Mills and his wife of 17 years, Danielle, waited until the last minute before mailing a $1,475 tax overpayment to Uncle Sam. The Southeast Washington, D.C. couple, both licensed real estate brokers, had hit bottom as the Great Recession cleaned out many bank accounts, including theirs.

“There were credit card bills, there were doctor’s bills, a little bit of everything,” said David Mills, 49. His wife noted that the couple’s debt had topped $30,000, and their income proved anything but steady.

“So, scraping together the $1,475 to pay our taxes was a challenge,” said Danielle Mills, 48. “We debated and debated, thinking about how we could use the money for other things even though the government would surely add penalties and interest,” she said.

Ironically, the couple, who have three children, decided the tax payment would be a stepping stone in paying off other bills, regardless of how long it would take.

They also decided that they would no longer borrow money and set a goal of paying off their debts while vowing to save for any items they may want in the future, including luxury automobiles that David Mills might desire or a stylish wardrobe makeover which constantly dominated Danielle’s fantasies.

Today, more than four years later, the couple has eradicated all of their debt and each said sleep comes a bit easier.

“This year we were able to take a trip to Cancun,” Danielle said.

David quickly added that, “the trip was paid for with cash, no loans, no payment plans.”

What helped the Mills erase their huge debts were better spending habits, using extra money to pay down credit cards and to pay off their two automobile loans.

They also held garage sales, and sold unwanted but enticing gold and platinum jewelry on eBay. “We noticed that what we were doing had begun to put a dent in what we owe, so that motivated us to continue to pay bills on time and to be smart,” David said.

Economists and experts note that the Great Recession began on September 15, 2008, with the bankruptcy filing by Lehman

Brothers, the Wall Street financial giant that the government and millions of Americans relied upon.

A record number of U.S. residents lost their homes to foreclosure as banks went belly-up and the stock market fell to all-time lows during the recession.

“Climbing out of debt can sometimes feel like a full-time job and takes serious work and discipline,” said Howard Dvorkin, a personal finance expert and consumer advocate. “There is a laundry list of issues to be confronted when getting out of debt. First and foremost is reigning in spending by creating a tight and complete budget and sticking to it,” said Dvorkin, author of, “Credit Hell: How to Dig out of Debt.”

For the Mills family, whose children are 17, 14, and 10, a lifestyle change proved necessary but also difficult. The couple said they consulted with credit consolidation agencies and they were forced to make big sacrifices.

“We knew what we needed, we knew what our children needed,” Danielle Mills said. “What we had to avoid was what everyone wanted. There is a big difference be-

/ Courtesy photo

tween want and need, so we stuck with our plan to purchase only things that we needed,” she said.

For instance, David Mills said, two of their children are video game enthusiasts who regularly request the latest and most up-todate games available.

“We’d see a commercial on television or an ad in the paper about this hot new game and the

kids just had to have it,” Mills said.

“But, that had to come to an end, and for them, it was quite painful.

There were some attitude adjustments made.”

Among the changes David and Danielle made were packing lunch instead eating out. They also found ways to carpool, effectively cutting back the money spent on gasoline.

The couple said they’re prospering and so is America.

Today, most economists agree that the country is again thriving.

“We are in a much better place than we were five years ago,” said Mark Zandi, chief economist at Moody’s Analytics Inc., in West Chester, Pa. “Consumers are feeling much, much better; certainly investors are.” FL

BY THE NUMBERS 65% of Americans say keeping financially fit – saving regularly and paying down debt – is as tough as or tougher than keeping physically fit {exercising regularly and eating healthy}

36% of U.S. adults planned New Year’s resolution related to their finances.

43% who set financial goals in the past 5 years fell short or failed to maintain success.

23% of Americans admit to having no budget in describing their approach to financial security; while 38% say they have an informal budget in their heads.

Between 2004 and 2012, student loan debt in the U.S. nearly tripled to

$966 billion – the biggest non-

mortgage debt burden in America. Nearly one third of borrowers in repayment are delinquent.

60% have at least some regret over the choice of education financing.

75% have made personal or financial sacrifice because of monthly student loan payments.

In 2012, the average student loan balance was

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$24,803 – 70% higher than it was in 2004.

Washington Informer FINANCIAL LITERACY SUPPLEMENT October 2013 FL-7

Payroll Cards: Bad for the Bottom Line?

By Stacy M. Brown WI Contributing Writer Like many others who receive their paychecks via a payroll card, Kenny Allen said he’s conflicted.

“I don’t have to run to the bank with a check and, because my card has a Visa logo, I can use it to pay bills, buy food, clothes or just about anything,” said Allen, 44, of Northeast. “The conflict is that, when I need to get cash off the card, it costs me money. If I had a paycheck, I could cash it at my bank with no fees and use my money without being charged,” he said.

Employers, and some government officials said the practice of paying salaries, unemployment benefits, pensions and income tax refunds are easier using a payroll or debit card.

They said digital currency counts as an innovation that makes transformation into an improved and cash-less society practical.

“We know the value it can bring by increasing efficiency, promoting inclusion and facilitating economic growth. We’ve seen the advantages of moving away from paper-based payments and processes to digital currency,” said Joseph W. Saunders, chairman and CEO of Visa, Inc. However, not everyone agrees with using debit cards to pay salaries and other benefits.

In September, the United States Consumer Financial Protection Bureau in Northwest warned that employers cannot require workers to be paid using prepaid payroll cards. Bureau officials said also that employers and banks were responsible for disclosing fees associated with card transactions and they must allow employees to check their balances and to help correct any errors.

“Employees must have options when it comes to how they receive their wages,” bureau director Richard Cordray said, in response to a report that noted fees associated with payroll cards are exorbitant.

“Our goals are to be proactive about identifying violations, stopping violations before they grow into systemic problems, maximizing remediation to consumers, and deterring future violations,” Cordray said.

Ernestine Moyer, who works in data analysis for a company in Temple Hills, Md. said she “has issues” with the payroll cards only because banks are earning fees with each use.

“They are making a fortune off of our pay,” said Moyer, 47. “I understand that it is quicker to get

your pay, quicker to get your tax refund and I have a friend who receives his unemployment benefits on a debit card, but what I don’t understand is why there are any fees attached.”

Experts such as famed financial guru, Clark Howard, said payroll cards presents little advantage to the employee and, just because they have a Visa or MasterCard logo attached, it doesn’t mean using them will help build any credit.

“Who is it better for? It’s actually better for your employer, not you,” Howard said. “Because what the employer does is they cut a deal with the bank, usually one of the biggest banks in the country, to issue payroll cards and avoid the cost of normally doing payroll.

Why? Because the big bank that issues the payroll card wants to make fee after fee on you as you go to use that card at stores, ATMs or wherever. If your employer offers you the option of a payroll card, you tell them no way.”

Many banks are involved in the payroll card programs, including PNC, Bank of America, Citigroup, Wells Fargo, and JP Morgan Chase.

In Pennsylvania, a lawsuit filed against a McDonald’s franchise alleged that the fast food outlet forced employees to accept their paycheck via debit cards.

In New York, the attorney general reportedly continues to investigate whether retailers and restaurants are running afoul of state laws that give employees a choice in whether to take a payroll card and a right to access their pay without a fee.

Some complain that fees have reached as much as $50 a month.

The consumer finance watchdog publication, American Banker, reported that companies nationwide put $34 million on 4.6 million payroll cards in 2012.

Officials expect that to grow roughly 25 percent this year, to $42.8 million on nearly 6 million cards.

Based on a Federal Reserve study that pegs monthly fee income per card at about $1.75, the banking industry could generate more than $120 million in payroll card fees this year, American Banker reported.

“I don’t think banks want to have the job of being the compliance officer to businesses,” said Terry Maher, general counsel for the Network Branded Prepaid Card Association in Montvale, N.J. “But, it’s important that they help their clients understand the regulations out there and help them with the appropriate disclosures.” FL

/ Courtesy photo

“We know the value it can bring by increasing efficiency, promoting inclusion and facilitating economic growth. We’ve seen the advantages of moving away from paper-based payments and processes to digital currency.”

FL-8 October 2013 Washington Informer FINANCIAL LITERACY SUPPLEMENT

– Joseph W. Saunders, Chairman and CEO of Visa, Inc.

/ Courtesy photo www.washingtoninformer.com

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FINANCIAL LITERACY

By Chad Foster This book] will help young people develop good financial habits at an early age - habits that will enable them to successfully make, manage, multiply, and protect their hardearned money. Foster motivates teens and reminds them that their choice is crystal clear: learn now or pay later! [The author talks about]: Credit Card debt; needs vs. wants; multiplying money; insurance essentials; secrets to saving; Internet scams.

Financial Fitness: Financial Literacy for a New Generation

By Lattice Hardwick, G. W. Lawrence Finally, a Financial Literacy workbook designed for teens, tweens, and young adults that delivers its lessons from a perspective of a ‘MindSet of Wealth ‘. FINANCIAL FITNESS is Volume 3 of ‘The MindSet of Wealth ‘ book series. It challenges youth to stand up not sit back and to take control not be controlled.

It looks at financial literacy as a tool-belt for building wealth and not a color-by-number handbook for financial survival.

TO AID WITH FINANCIAL LITERACY

BOOKS

Financial Literacy for Teens

The Everything Guide to Personal Finance for Single Mothers Book

A Step-by-step Plan for Achieving Financial Independence

By Susan Reynolds, Robert Bexton Are you a single mother who worries about your family’s financial future? The Everything Guide to Personal Finance for Single Mothers has the savvy financial advice you really need. Packed with helpful tips and sound financial practices, this practical yet inspirational

guide leads you on a stepby-step journey to financial independence and security.

This guide features tools to help you: Assess current financial health; Set goals near and far; Narrow the wage gap; and conquer debt. From how to get out of debt, establish good credit, and qualify for a mortgage to opening a college fund, planning for retirement, and even starting your own business, The Everything Guide to Personal Finance for Single Mothers is the financial advisor you need to secure your futureand that of your children.

Susan Reynolds is a journalist, author, businesswoman, and single mother who handles her own financial affairs, including managing her retirement fund.

Robert A. Bexton, CFA, has been an investment analyst since 1999. Currently, he manages $70 million of clients’ assets for Moirai Capital Management. He holds the prestigious Chartered Financial Analyst designation and earned a B.A. in Economics from UC Berkeley.

Do I Look Like an ATM?

A Parent’s Guide to Raising

Financially Responsible African American Children

By Sabrina Lamb Youth financial education is an urgent issue, and author Sabrina Lamb believes that African American parents first must reeducate themselves about finances to make sure the next generation does not fall into the spending trap that can be a family legacy. The lack of a healthy financial education has generational impact, causing families to be financially vulnerable, squander financial resources, and fail at wealth accumulation. With step-by-step advice and exercises for parents and young people, “Do I Look like an ATM?” sets out to establish new financial behavior so children will avoid the personal economic problems that have plagued the culture.

The book guides parents through self-examination of their financial habits. By performing the exercises in this book and having candid discussions, parents can, together with their children, become engaged citizens in the world of money. With new financial traditions and a better understanding money and its meaning, the next generation will realize the true power of wealth and use their money wisely.

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Does How You Feel about Money Affect Your Wealth?

Best-Selling Business Author Offers 3 Tips for Changing Your Attitude Although we live in the richest and most advanced society the world has ever known, many of us say we need more money in order to be happy, notes best-selling business book author Doug Vermeeren.

“Even some of those in the top percentile of earners often feel like they don’t have enough money,” says Vermeeren, (www.

DouglasVermeeren.com), an international speaker who consults with celebrities, business executives and professional athletes.

“The math is simple: More money does not equal more happiness. It’s our attitude toward money, not the amount, that influences our happiness the most.”

Happiness researchers Elizabeth Dunn and Michael Norton, professors at the Harvard Business School, recently published

research indicating that it’s not money that makes people happy, nor the things people buy with it.

Rather, it’s the experiences one has that ultimately account for happiness.

“How you experience your money on a day-to-day basis is what matters,” Vermeeren says.

“If the software running in your brain is constantly reinforcing the message, ‘it’s not enough,’ then that is likely how you will see yourself and experience your life – as ‘not enough.’ ” Vermeeren reviews the three fallacies of abundance as it relates to happiness: We are all entitled to a certain amount of wealth: The feeling that we deserve or are owed a certain amount of wealth will always make us unhappy with whatever we have. While we are entitled to

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certain human rights, those do not include a winning lottery ticket. In reality, we are not owed any amount of abundance and, in fact, should count ourselves lucky if we’re able to meet our basic needs; many in the world are not. More of us, however, would be happier simply appreciating what we have.

The result of our labors is money: Money is a means to an end, not an end in itself. This can be a challenge to keep in mind since so much of our lives are spent in the pursuit of money. We work and go to school to support ourselves and our families. We see things we want, and we know we need more money for them. Study after study shows, however, that what really makes us happy is what we do and who we do it with, and not how much money we spend.

We’ll be happiest when we final-

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Doug Vermeeren/ Courtesy photo

ly reach our goal: We are happiest when we are progressing toward a goal. When we lose sight of our goal, veer off the path toward our goal, and even achieve our goal, we’re less happy. Rather than set-

ting one goal and deciding you will be happy when you meet it, you’ll be most happy if you continually set goals and relish your journey toward them. FL

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For more detailed information on DC Homebuyer Programs contact the Greater Washington Urban League at: 202-265-8200….. 202-328-3064 fax Website: www.gwul.org Facebook Fan Page: www.facebook.com/GreaterWashingtonUrbanLeague Twitter: www.twitter.com/GWUrbanLeague

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