Category Archives: wealth

Parenting: Life’s Toughest Job

Parenting has to be one of life’s toughest jobs.  Although there are plenty of books on the subject, there’s no ‘one size fits all’ solution because every child is different.  Today, there are many African-American children growing up in single parent homes.  In 2009, Kids Count, the Annie E. Casey Foundation, reported that 69% of Black children grow up in single parent homes.  Ideally, the best scenario is for children to grow up in a healthy two parent home.  However, whether you’re a single parent or you’re sharing parenting responsibilities, there are things that you can do to ensure that your children grow up to be productive and successful human beings.

Recently, Black Enterprise interviewed Michelle Obama on parenting values.  Most parents want to provide the best that they can for their children, but how do you define your best?  Sometimes we relate our best to material possessions.  This is often the case for parents that grew up without a lot of their needs and wants being met.  No matter how you define your best, I think there are a few key parenting tips that we can learn from the First Family.  The following are a few practices that we can all implement to help improve the chances of success for our children:

Limit TV Time – The Obamas do not allow their daughters to watch television during the week.  My husband and I implemented this rule at the beginning of the school year for our son.  In the beginning, it was a hard transition for him, but now he spends time reading and working in enrichment workbooks.  As a parent that works outside of the home, I’ll readily admit that I am guilty of allowing the television to ‘babysit’ my child.  Limiting television time often requires more engagement on your part; you have to plan additional activities for your children.  However, given the statistics on the Achievement Gap for African American students, the only way that we can begin to eliminate it is to establish some boundaries with the television and video games.  This is simply a good parenting move that we should all be willing to do.  Most of us have to work to provide for our families, but we must never forget the lasting impact of our role as a parent.

Teach the Value of Money – Oftentimes, parents don’t discuss money with their children, or they buy expensive gadgets and their kids have no idea of the sacrifices that were made to purchase them.  In our communities we have parents that will forego paying a bill to purchase the wants of their children.  Now let’s have a heart to heart – what are we really teaching our children when we do this?  Children should understand that their wants cost money.  We may not want to admit it, but many of the habits that our children develop when it comes to money, we are responsible for creating.  Children are taught to be appreciative; if you feel that your children show tendencies of being ungrateful, it’s time to look in the mirror.  Above all, instead of buying extravagant gadgets and clothing for your children, give them experiences (i.e., participation in sports, music lessons, etc.)  These opportunities will enrich their lives and create life-long memories.

Model Responsible Behavior – As parents, we will often take the stance ‘do as I say, not as I do.’  News flash – children model what they see, not what we say.  That being said, if you want your children to be responsible, you must display responsible behaviors and require the same from them.  Children are perceptive and they are always observing their parents.  I am often amazed when I hear parents talk about their children being lazy.  In reading the interview with Michelle Obama, I noted that even though the White House has a full staff, the President and First Lady have assigned chores to their daughters.  The biblical verse, 2nd Thessalonians 3:10 states that a man that doesn’t work won’t eat.  This is a principle that should be taught early.  The assignment of chores assists in teaching responsibility.  If you’ve heard yourself say that your child is lazy, it’s time to adjust your parenting approach.

Parenting is hard work.  There are a lot of sacrifices that must be made on a daily basis but it’s worth it.  As parents, we will make mistakes along the way.  However, with prayer and active engagement in the lives of our children, we can set them on the path to success.  The Bible states that children are a gift from God.  It is our job to love them unconditionally, and teach them how to be productive citizens of the world.

Dream It, Achieve It!

I’m sure that by now you’ve heard of the passing of Steve Jobs, Co-founder and CEO of Apple, Inc.  If you haven’t become familiar with his story, I urge you to “Google” him to learn more about his life’s journey.  Recently, a close friend mentioned the commencement speech he gave at Stanford University in 2005.  In his speech, he outlines things that he attributed to his success.  When you get an opportunity, listen to his speech; it’s time well spent.

You might be wondering what Steve Jobs has to do with bridging the wealth gap in the African American community.  While he was an extremely wealthy man, my intent is not to discuss the wealth he accumulated through his business ventures, but more so to discuss his will to achieve against the odds.  Unless you’re familiar with his story, most people would not assume that a first year college drop-out would be as accomplished as he was.

Often times, we have dreams or ideas that we’d like to pursue, but somehow life gets in the way.  Many of us may not have the liberty to pursue our entrepreneurial dream without working a full time job as well.  So how can you keep your “mojo” while navigating life’s twists and turns?  Please note that I am not professing to have all the answers, but I will offer up some lessons that I’ve learned from others that have achieved success in this area.  These are also the characteristics that I am embracing along my own journey.  The following are three key traits that will place you on the path to success:

1.       Be clear on what you want; get laser focused – There will always be competing priorities.  In the spirit of transparency, this is an area I’ve struggled in the most.  As soon as you think you’re set on a path, life will throw you a curve ball that can divert your focus.  People who are successful in pursuing their dreams are somewhat dogmatic when it comes to being laser focused in spite of life’s interruptions.  T. Harv Eker, author of Secrets of the Millionaire Mind, says it best, “The number one reason most people don’t get what they want is that they don’t know what they want.”

2.     Don’t underestimate life’s lessons – Your life will speak to you if you choose to listen.  We are often quick to observe and value someone else’s life lessons, but choose to devalue or minimize our own.  Steve Jobs referred to this as “connecting the dots.”  Take a moment and spend some time recalling your own journey – the successes and failures.  I guarantee you that in the midst of your track down memory lane, a common thread will exist and link you back to your purpose or that dream that once was a flame but may now resemble a flicker of light.  Make no mistake, there’s a lot that we can learn from observing others, but don’t stop there.  Your own life will speak the loudest if you listen.

3.     Simplify your life – Many times we stay stuck in the “rat race” because we are so busy trying to ‘keep up with the Joneses.’  If you really want to pursue your dream, you will be forced to make tough choices.  You may have to wait on the material possessions that you see others acquiring.  Don’t compare yourself to others.  A key to wealth accumulation is maintaining a high credit score, minimizing debt, and investing in assets.  It takes money to pursue most business endeavors, and in the beginning, you may have to invest in yourself before others will invest in your venture.  If you are overextended, you may not be able to see your vision come to fruition.  

Success is often accomplished by travelling the road less travelled.  It requires a confidence in self and a willingness to take risks.  Many of us work very hard in our chosen careers, but can become lukewarm when it comes to pursuing our own personal endeavors.  I have decided that I will no longer stand on the sidelines of life and admire others and their success; I will give my all to my own.  Won’t you join me?

Life’s Woes… Gateway to Success

At the beginning of the year I posted the article, A New Year, A New Beginning.  It seems like yesterday, but it was more than six months ago.  Where has the time gone?  Has this year been what you expected?  In the spirit of transparency, I’ll confess that I’ve had my own share of unexpected setbacks.  That’s the interesting thing about life, it seems as soon as you decide to pursue your dreams life has a way of bringing you to your knees.

A famous quote by Ralph Waldo Emerson states, “Once you make a decision, the universe conspires to make it happen.”  While I believe in the essence of this quote, I also think ‘all hell breaks loose’ in your life too.  Why is that?  I’ve had some time to ponder this question and I think the primary reason is preparation. 

As human beings, we often grow the most during life struggles and failures.  When we decide to pursue our dreams, it requires us to change.  In many instances, we haven’t developed the skills that will help us achieve success at the next level.  Consider the following:

Relationship Troubles – Trials in your relationships help you to:

  • Identify what’s important
  • Establish proper boundaries
  • ‘Weed-out’ relationships that are no longer mutually beneficial

A word of caution is required here; relationship troubles can be ‘sticky’ because only those people closest to you have the ability to hurt you.  That being said, your family and friends may not embrace your change.  You will have to be strong enough to move pass this if you really want to pursue your goals.  It’s also important to recognize that you may experience some ‘battle’ wounds along the way.  Additionally, there are some relationships that are indispensable.  Define why the relationship is important to you and do what you can to sustain it.  It may take some time, but it’s worth it.  No matter what you do or where you go, relationships are essential to your success.  The struggle that you’re experiencing may be the preparation you need for the next level.

Financial Difficulties – Perhaps you’ve been downsized or experienced an unexpected financial setback.  Financial woes force you to focus on money management and establish priorities.  Additionally, if you aspire to become an entrepreneur, financial stewardship should be an essential part of your plan.  I’ve heard that God won’t bless you with more until you prove that you can handle what you have.  It’s amazing how creative we can be during a time of lack.  We find ways to ‘stretch’ everything! 

Health Concerns – I’m sure that we can all do a better job of taking care of ourselves.  It’s a shame that it takes a health scare to make us wake up and pay attention.  Change is hard but necessary.  We all have our own opinions on Health Care Reform.  While I do believe that no one should be turned away or denied coverage because of their socioeconomic level, I foresee that individuals with predisposed health conditions may be required to pay more for medical insurance.  Years ago, you were never asked whether or not you used tobacco products.  Questions were initially added to life insurance applications, and now they also appear on medical insurance applications.  Today, if you apply for life insurance, you may be required to take a physical.  If you’re overweight, have high blood pressure, or other medical conditions, you may be denied or required to pay a higher premium.  I believe those same questions will become a standard part of all health insurance applications in the near future.  This change will significantly impact the African American community.  According to a study performed by the Office of Minority Health, about four of five African American women are overweight or obese.  African American women also have the highest rate of obesity in the U.S.  Our lifestyles have to change.  I am talking to myself too!

Michael Jordan once said, “If you’re trying to achieve, there will be roadblocks. I’ve had them; everybody has had them. But obstacles don’t have to stop you. If you run into a wall, don’t turn around and give up. Figure out how to climb it, go through it, or work around it.”  The lesson that has been invaluable for me this year is to continue moving.  Setbacks can often cause you to become stuck.  If you become stuck, you can’t change your situation.  Life will not stop for you.  I know that this is easier said than done, but don’t focus on the problem, identify the lesson.

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