Today is Giving Tuesday!! The purpose of Giving Tuesday is to encourage people to donate to non-profit organizations that are doing great work in the community. I know… I know… You spent all your money on Black Friday, Shop Small Saturday, and Cyber Monday…. You have some left over to give to organization that help others. That is reason for the Holiday Season right?!!? Well… For me, it is….
Below are a list of organization that are near and dear to my heart because these organization focus on serving people in under served communities make better financial decision. You know this DIVA is all for helping people to do better with their COINS. You can click on the name to find out how you can volunteer or donate to these organizations.
Ladder Up– This non-profit organization provides free tax preparation and financial literacy workshops throughout the Chicagoland area.
Institute Financial Literacy– This non-profit organization develops financial literacy curriculum for other organizations to utilize in their programming.
One Stock One Future– This non-profit organization teaches teens how to understand the stock market.
As you much as I encourage you to save and invest your coins; you should also donate them as well.
You know how the saying goes… “It is Better to Give than Recieve”.
Dear Divas and Divos, Hey Guys! I hope you are having a great start to the month of Savings September! Yep, I coined that phrase!! LOL!!! I just wanted to repost the Diva Dollars Manifesto for my fellow DIVAs and … Continue reading →
This is the third day of the new year! YAY! For most people that means a new fresh beginning in different areas of our lives. This could mean starting a new fitness regime, renewed mindset, new diet, or the start of a new business. Some people create a new manifesto for themselves. Webster defines a manifesto as a public declaration of intention, motives, or views. My question to you is…. What is your money manifesto in 2016? Save more? Get out of debt? Save for a car or house? Spend less?
My Diva Dollars Manifesto is my public declaration of how I am going to handle my coins for 2016 and beyond. I am approaching the 30 Club (YEP!) and I need to make some changes to my financial lifestyle. My financial habits of my 20s cannot enter into my 30s. Soooooooooo…… Introducing my Money Manifesto
Whatever your money mindset is; it should help your finances work in your favor instead of against you. What is your money manifesto for 2016? Drop a comment and let me know. Let’s get our financial house in order for 2016!!!!
Until next time DIVAS!!!!!! Keep Saving and Investing!!!!
This past Saturday, I attended the Rainbow PUSH Money Matters Workshop. As a finance blogger, it is always refreshing to learn from other finance mavens in the industry.
I attended the Investing 101 workshop lead by Mrs. Gail Perry-Mason. I received a wealth of information about residual income and starting an investment portfolio. Although most of us work 9-5’s, there is a plethora of opportunities to make additional coins. She mentioned websites like RetailMeNot, Ebates, and Resturants.com where people can make and/or save money utilizing these sites. Diversified income was another great tip. She stated that we must have at least 5 avenues of income. We cannot depend on one source of income because you never know when things shift and a person could lose their job. You must always have a financial back-up plan. There was also some great investment tips. Mrs. Perry-Mason stressed the importance of starting an investment account whether it is with your job (Think 401K or 403B) or on your own. Robin Hood is an app that she mentioned where you can buy stocks. I will be using that app real soon. I’ll be sure to write a later post about my experience with it, so look out for that.
The Chevrolet sponsored Empowerment Session, led by Reginald Humphrey, Senior Manager of Supplier Diversity, also provided great nuggets of wisdom. An important topic, Define Your Success Circle was especially interesting. It is important to remember that your circle of influence should be one that encourages you to strive for more. He also touched on Decision Making in regards to your finances. Make informed decisions that fit your financial lifestyle. He used the decision of buying a car as an example, which is great because no one loves the bus. It was suggested that you should never buy a car where the car payment and insurance is more than your rent or mortgage. This is called “living outside of means.” Living outside of your financial means you can do damage to your finances and credit score. And we need to keep that credit score up for when we’re ready to buy that vacation spot. (See: That villa in the Maldives I’ve been eyeing.)
Overall, I had a great time at the workshop and walked away with even more knowledge about making smart money decisions. I am excited for the year ahead equipped with some great financial tips. This DIVA is ready for 2016!
Hey Divas! It’s the last month of the year…..DECEMBER! Many people use this month to plan and prepare for the new year. This could mean a number of things: cleaning out closets, organizing your house, shedding the holiday pounds, etc. … Continue reading →
As most of you have read, seen, or heard about, the nation is participating in the 52 Week Money Challenge. It is a year-long challenge to save money on a weekly basis. Ideally, a person should have saved $1378 by Dec. 31. Below is the chart and a link to the Facebook page.
As I reflect back on the holiday season, I think of the major money that was spent. The money spent on buying Christmas gifts for families, co-workers, friends etc. We as people spend a ridiculous amount of money on items that we barely wear or use. This is very true in the African-American community. African-Americans spend almost $1 trillion dollars annually. The buying power of African-Americans was compared to that of a small country (See graphic).
What do we spend it on? As far as I can tell, the money is spent on frivolous things such as clothes, cars, tvs, and other electronics. Not to sound cliché but we try to keep up with the Joneses’. Who the heck are the Joneses anyway? Could it be our Caucasian counterparts, basketball wives, or rappers? It grinds my gears to see women buying Christian Louboutin shoes with a Pre-Paid Rush card or guys tweeting pics of their Louis Vuitton receipts then texting me if I know of any jobs openings?!?! Something is not adding up! Disclaimer: I am guilty of conspicuous consumption as well. The question is why? It seems like material things symbolizes success or progress in our community. Is our self-worth determined by the size of our rims or the logo on our belt buckle? The media plays a part in our excessive habits. Rappers, video vixens, and thoughts of popping bottles and shopping sprees is seeping into our minds to a point where we perceive it as reality. We must realize that rap videos and reality shows are selling us a dream. A dream that is unattainable on annual salary of $36,000.
Brown Consumerism wouldn’t alarm me as much if I didn’t look at the wealth gap between African-Americans and other races. If we were savings as much as were spending, then I would not have a problem. The sad truth is that we spend more than we save. A LOT MORE! According to Census Bureau Information below, African-Americans net worth is 20x less than our Caucasian and Asian counterparts. That is alarming and disturbing.
What happened to saving more and spending less? Think about the generations that came before us. Ideally, Grandma and Grandpa worked hard to buy a home in a decent neighborhood, worked 30+ years at a blue collar job, and then retired with a nice retirement nest-egg. Is that idea not cool now? Ask yourself, do you have a savings or money market account? If not, why? We as a community need to get back to those solid financial principles that our grandparents instilled in order to create wealth for ourselves and our families.
This is why my blog and other personal finance blogs are so important. Imagine if the $1 trillion that we spend on material things was used for savings and investments. We would be a force to be reckoned with! We must share helpful financial information and create wealth for ourselves. Join me on my journey to becoming financially stable. No, I am not trying to sell you anything. I am just sharing my financial story with you in return that you will tell someone else so they can live a debt-free life.
I entitled my blog “Diva Dollars” because this blog will serve 3 purposes. First, it will document my journey to financial freedom. NO…….. I am not trying to be a millionaire! (Although, that wouldn’t be so bad!) I just want to be comfortable with my life and be able to do what I want without thinking about how it will affect my bank account tomorrow. It will also help to educate others about financial literacy. (one of my many passions!)
Second, I will highlight some pertinent financial/economic news. That may sound boring to most but as a economic graduate student, it screams cool in my book! The global economy has a profound effect on a person’s financial well-being than most people think.
Lastly, I will give some awesome investing and financial tips along the way. I want to be your financial resource. Ms. Diva Dollars will NEVER put out bogus info (BELIEVE THAT!) I am firm believer in doing your due diligence and checking references. You’ve probably heard some of these things from Suze Orman or Jim Cramer but it will be so much cooler getting the info from me. 😉
Well if you got this far in reading……then you are ready to join in my quest for debt-freeness!! (I know that’s a word but so what?!)
The most important thing to know is that I want to share my financial story so people who come after me do not make the same mistakes that I made.
Thanks for reading! Welcome to Diva Dollar Land!!!!!!!