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Personal Finance Word of the Day: Uniform Transfer to Minors Act

Word of the day: Uniform Transfer to Minors Act
If you are a parent or grandparent,…

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Man-Cash-Money-620480

You Could Win Mega Millions And Still End Up Broke

Another huge jackpot has us thinking: If I could just hit the lottery, I'd be set for life. Or would you?

If you could just hit the lottery, you’d be set for life. Or would you?…

By Alfred Edmond, Jr.

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support-black-business

How One Black Enterprise Reader is Helping Black-Owned Businesses

Vannessa Wade supports black business with her money and her talents

Wade isn’t shy about her mission to help black businesses.

By Sheiresa Ngo

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IPO

What to Look for in an IPO

Earnings, cash flow and revenue growth are the most important criteria

IPOs provide a rare chance to peek into a private company’s financials (as required by…

By Alan Hughes

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Black Enterprise Financial All-Star: Lori Ann Douglass Talks End of Life Planning

Advice from Black Enterprise's top experts

Do your disability and estate planning now

By Sheiresa Ngo

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financial literacy

Bank of America Aims to Improve Financial Literacy with Campaign

Small, simple steps can build money smarts

Many Americans are still not confident when it comes to some aspects of money management

By Sheiresa Ngo

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piggy bank

Black Enterprise Book Review: “Save Wisely, Spend Happily” by Sharon Lechter

Tips for smart money management

Just about every personal finance topic imaginable is discussed

By Robin White Goode

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Did You Know These Surprising Facts About The World’s Billionaires? [Video]

Juicy tidbits about the world’s richest people

What do today’s billionaires know that you don’t?

By Sheiresa Ngo

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Is Your Financial Mindset About Prosperity—Or Lack?

You may need to change the way you think about money

Do you have a financial mindset?

By Alfred Edmond, Jr.

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(Image: ThinkStock)

Why Your Financial Plan is a Failure [Infographic]

Can't get your money right? The problem might be you

Several factors affect your ability to stay committed to getting your money in order

By Sheiresa Ngo

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Tips for Staying within Your Holiday Budget

Don’t let seasonal shopping wreck your finances

How do you make sure you get the most bang for your buck?

By Sheiresa Ngo

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For too long women have been forced to figure out how to survive on their own. I wrote my book, SKIRTS in the Boardroom to equip women with the tools necessary to chart their own course. S.K.I.R.T.S. is actually an acronym that represents the characteristics that today’s woman must have to thrive in the boardroom, which ultimately represents any place of power that is male-dominated---a place where decisions are made and where you have a chance to show what you're made of. While it may change at different stages of your life, the boardroom is your playing field. It's also a place where the good ‘ole boys' network has, and continues to, flourish. It is time for the ladies to take their seats in the executive suite.   So how do you position yourself to thrive in and out of the boardroom?  Here seven savvy qualities that today’s S.K.I.R.T.S. must possess to go to the next level. (Pay attention, fellas---you can learn some fabulous tips, too!)---Marshawn Evans

How to Save Money When Starting a Business

Advice for holding on to your cash during the start-up phase

Get started on the right foot during the early stages of your new business

By Sheiresa Ngo

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5 Financial Questions You Must Ask Before Saying “I do”

Get the full picture before merging finances

Discuss the topic of money prior to saying “I do” in order to get a…

By Kenny Pugh

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Financial Planning Tips for New Entrepreneurs

So you want to be a boss? Make sure your finances are in order first

After years of running the proverbial rat race, you’re thinking of starting a business

By Sheiresa Ngo

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kanyessa-mcmahon

Wealth Builder Spotlight: The Inspirational Story of Kanyessa McMahon

Learn how this young boss is growing her money through entrepreneurship

After a frustrating four-month stint at a video production company, she acted on her entrepreneurial…

By Sheiresa Ngo

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Business Continuity Tips Discussed at Free Webinar Hosted by SBA and Agility Recovery

Hurricane Sandy Anniversary: A Primer on Catastrophe Tax Deduction

Know what you're entitled to in the event of a disaster

If another major disaster were to strike, help may be available

By Shandra Hill Smith

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Average 30-Year Mortgage Rate Dips to 4.13%

Rates drop the lowest level in four months

Freddie Mac’s Primary Mortgage Market Survey shows the average rates on fixed mortgages in the…

By Sheiresa Ngo

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Set Yourself up for Financial Success [Infographic]

MetLife provides money management tips for young adults

Paying careful attention to your finances is the key to achieving financial freedom

By Sheiresa Ngo

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black student college loans

Wells Fargo Presents Video Series on Paying for College

Educational series offers tips to help students navigate the financial aid process

Wells Fargo recently produced a series of videos focused on financing college

By Sheiresa Ngo

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retirement

Retiring on Time is No Longer Realistic for Many Americans

An increasing number of workers will remain in the workforce longer than anticipated

If you’ve come to the realization that you won’t be able to fully retire when…

By Sheiresa Ngo

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How We Manage Money in the U.S. [Infographic]

A snapshot of how people in the United States approach finances

Get a peek into how people in the United States approach household finances, budget preparation,…

By Sheiresa Ngo

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Personal Income and Savings Slightly Rise

Consumers show small gains in pay and savings

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Personal income increased $57.2 billion, or 0.4%, and disposable personal income (DPI) increased…

By Sheiresa Ngo

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Do’s and Don’ts of Starting an Investment Club

Here’s how to get on the right foot.

Investment clubs provide a great way to learn about investments and the stock market.

By Tamara E. Holmes

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piggy-bank

Wealthy Investors Wish They Could Save More

More money? More problems.

Even though rich people have fewer regrets, they still have concerns about money.

By Sheiresa Ngo

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#WealthforLife Wednesdays: The Real Cost of Payday Loans

Repeat borrowing often results in a cycle of debt

For a fast, dangerous payday loan, borrowers usually only need a checking account and proof…

By LaToya M. Smith

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cash

5 Practical Ways to Increase Your Cash Flow Right Now

It's always the right time to increase your income

Fill a temporary need. It’s just one way to increase your cash flow.

By Jennifer Streaks

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#WealthforLife Wednesdays: How to Deal With The Student Loan Debt Hike

Here's 5 tips to help you borrow smart

Effective July 1st, 2013 federal subsidized stafford student loan rates will rise.

By LaToya M. Smith

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Dominique Broadway, financial advisor and coach

#WealthforLife Wednesdays: Learn About ETFs, Mutual Funds and Stocks

What's the difference and how do I choose which is best for me?

A mutual fund is similar to a stock, but instead of investing in one company…

By LaToya M. Smith

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#WealthforLife Wednesdays: Retirement Plan Options for Small Businesses

Make your money work for you after you've worked for it

“Small business owners need to think about the what if,” says McKenzie Slaughter. Reinvesting all…

By LaToya M. Smith

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(Image: Thinkstock)

#WealthforLife Wednesdays: Is it Time to Consult a Financial Planner?

After years of doing things on my own I knew it was time to get some professional advice

Before you dismiss the idea of working with a financial planner, find out how they…

By LaToya M. Smith

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Shoe Along® is what every woman needs - A hands-free way to carry a second pair of Shoes or Sneakers Along. How can licensing help this nifty idea?

How Licensing Can Help Your Business Idea Become More Lucrative

A licensing expert chimes in on a novel idea

So how might licensing benefit her in the short and long term? We asked licensing…

By Darren Sands

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college debt

#WealthforLife Wednesdays: Goodbye Student Loan Debt, Hello Financial Freedom

How my friend paid off her student loan debt four years ahead of schedule

Need to pay off your student loan debt? Maybe you should follow her advice.

By LaToya M. Smith

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mint iphone app

#WealthforLife Wednesdays: Apps to Manage Your Money

Simplify and organize your finances all in one place

These apps can get you on the right financial track

By LaToya M. Smith

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Blacks Optimistic About Economy, Pessimistic About Retirement Savings

Investors move retirement to back-burner to focus on daily expenses

African American investors are optimistic about the political and economic future of the country.

By Carolyn M. Brown

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black woman traveling

Why It’s Important to Remember That You Are Your Greatest Asset

Self-determination as a key to success in business and life

It’s time you took stock of what you bring to YOU.

By Kenny Pugh

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how-to-budget-beginners

#WealthforLife Wednesdays: How to Create a Realistic Budget

Stop fudging the numbers. Identify how you’re spending your money and then give your hard earned cash a specific assignment.

Developing a budget is an essential part of your wealth-building plan.

By LaToya M. Smith

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laToya-smith

Introducing #WealthforLife Wednesdays

Join us each week as we tackle the 10 principles you need to build wealth

Check out the 10 principles on how to build wealth

By LaToya M. Smith

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black-couple-finances

Wealth Gap Between Whites and Blacks, Hispanic Households Widens

A new study reveals harsh realities

Do you see this gap ever getting tighter?

By Darren Sands

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PocketsBrokeMoney

10 Surefire Ways to Go Broke This Year

Wasteful spending isn't the only symptom of a bad financial steward

Budgeting, like anything else that matters in life, takes time. Even essential tax and estate…

By Darren Sands

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dionne-warwick-smiling

How Do The Rich And Famous End Up Broke?

The same way you do. Except your money troubles don't get put out on Front Street by everyone from CNN to TMZ.

It’s a familiar story: professional athletes, superstar entertainers and other famous celebrities losing their homes,…

By Alfred Edmond, Jr.

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MONEY

The Truth About Emergency Savings Funds

Tips for saving on any budget

All budgets are not created equal. Here are practical tips for saving in the real…

By Ashley R. Harris

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Young woman with horrified expression, posing in studio, portrait

The Career Mistake Women Cannot Afford to Make

Avoiding this mistake could pay future dividends

Women stand to lose up to $500,000 in earning power during their working years if…

By Ashley R. Harris

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Lying to the IRS.   Lying on your taxes is a felony that could result in jail time of up to three years. Individuals face fines of up to $250,000 and corporations face up to $500,000. In addition, you could be slapped with the costs related to your prosecution. Uncle Sam says don't do it. Trust us, he'll get you.

Abnormal Tax Refunds or Repayments Could Need Your Attention

Were you alarmed by the result of filing your taxes? It may be time to take action

You may need to take action if you suspect something’s not right with your tax-return…

By Darren Sands

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Wells Fargo

LGBT Investors More Upbeat About The Economy

Despite overall optimism, Wells Fargo survey shows financial confusion about DOMA and benefits is high for same-sex couples

A new survey shows new information about the group’s attitude about the economy.

By Carolyn M. Brown

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Cash Mobs Support Small Businesses

Online Banks: Too Good to be True?

Online Banking isn't quite what it used to be

A few things to consider before opening an account in 2013

By Ashley R. Harris

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Antoine Walker wants to help other athletes avoid a similar fate.

Former NBA Star Antoine Walker, Who Lost Millions, Helps Others Avoid Fate

Former NBA All-Star is giving financial advice

Antoine Walker has had his share of financial struggles, but it’s not stopping him from…

By Darren Sands

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(Image: File)

Eddie Long Sued By New Birth Congregants Over Ponzi Scheme

New Birth says it is hoping former parishioners will recoup lost funds

Eddie Long is the target of a suit filed in Dekalb state court in January.

By Darren Sands

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(Image: Arik Air)

Turbulence and Triumph: Arik Air On Flight to Success in Airline Industry

West Africa’s largest commercial airline boasts over 6 million annual domestic flyers

Despite numerous attempts, one company sees success in starting an airline in Nigeria. Arik Air…

By Zandile Blay

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Fiscal Cliff Resolution to Take Large Chunk Out of American Paychecks

The resolution may hurt more than it helps

Many Americans are just finding out what the fiscal cliff could mean for them.

By Ashley R. Harris

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Wait ‘Til I Get My Money Right: Top Money Resolutions for 2013

Overall health, physically and fiscally, is within your reach

Get your mind — and money — right in 2013.

By Ashley R. Harris

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Fed Teases to When Interest Rates Will Go Up

The Fed is waiting for unemployment to hit a magic number before it entertains changing interest rates

Is good news on the horizon?

By Ashley R. Harris

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Taking a New Look at Entrepreneurship and Franchising

Our financial expert says it's worth taking a look at franchising from another perspective

Want to start a franchise? It may not be necessary to reinvent the wheel.

By Patrice C. Washington

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savings-bonds

Sorry, Granny: Savings Bonds to Go Digital

Savings bonds have gone digital, much to the chagrin of grandparents

How will this change the system?

By Ashley R. Harris

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taxes

Wealthy Giving Big Gifts Before 2013 Tax Hike

The fiscal cliff has scared some to giving away fortunes

Could this trend prove prudent?

By Ashley R. Harris

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Warren Buffet Insists on the Gov’t Taking His (And His Rich Friends’) Money

The Oracle of Omaha says that it's time for the rich to get real

Warren Buffet thinks fellow billionaires are in line for a reality-check.

By Ashley R. Harris

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NSBA Survey Shows Small-Business Economic Outlook Improving

The Talk: Um, Mom … Just How Much Are You Worth?

Kids worry they'll have to take care of their parents after retirement, but most parents are OK

A familial financial dilemma

By Ashley R. Harris

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nas-owes-taxes-black-enterprise

Nas Still Owes Taxes, Tour Money to be Garnished

Why can't rappers ever get their tax situations straight?

The rapper is still in arrears, according to the Georgia Department of Revenue

By Cedric 'Big Ced' Thornton

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The Other Fiscal Cliff: Money-Market Funds

The fiscal cliff isn't the only money problem on the Hill

Another financial problem, potential disastrous, confronts lawmakers.

By Ashley R. Harris

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The Wealth Choice book 300x232

What’s REALLY Keeping You Out of the One Percent?

Dennis Kimbro's new book, "The Wealth Choice," makes the compelling case that becoming a millionaire is not a matter of chance or connections, but of choice.

Why do some of us become millionaires, even billionaires, while the majority of the rest…

By Alfred Edmond, Jr.

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Money

Generation X’ers Retirement Fears Grow as Economy Slowly Recovers

What's retirement mean for the generation who thought they'd never die?

Their fears can be attributed to the decline in wage earnings during the recession and…

By Ashley R. Harris

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3 Steps to Avoid Getting Swindled for Your Money

Don't let your money disappear from you, now.

These three steps can help keep you in the black

By Ashley R. Harris

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Former NFL star receiver Andre Rison talks about his financial difficulties in the film Broke.

Film Producer Alfred Spellman Talks ESPN Doc on ‘Broke’ Athletes

Documentary highlights the challenges of fame and fortune in sports

Filmmaker Alfred Spellman talks race, fame and power in sports— and how easy it is…

By Darren Sands

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stack-of-money

How to Keep it Rich

Too many people get rich and lose their money. Here's how to hold on to it.

Here’s a roadmap to setting your wealth goals

By Sakina P. Spruell

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(Image: Thinkstock)

Black Population Low in Nation’s Top-Earning Towns

Area with the highest income has a black population of less than 4 %

While CNN’s Top-Earning Towns list highlights communities that boast posh pads and stellar schools, these…

By Sakina P. Spruell

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black man in tie giving thumbs up

American Workforce Much Better Off Than Last Year

There’s some good in the newly released Labor Department report

The unemployment rate for blacks is still a whopping 14.1%, which remains unchanged from July,…

By Sakina P. Spruell

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21 Ways Rich People Think Differently Than the Average Joe/Jane

Controversial breakdown examines the difference between rich and average people

Here Business Insider’s Mandi Woodruff gives a brief overview of the 21 ways rich people…

By Sakina P. Spruell

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Photo: Quantrell Colbert

Refocusing Financial Goals

Sometimes, you need to rein things in a bit and refocus.

To maintain his lifestyle, Hoosier estimates he would need about $1 million in a retirement…

By Sakina P. Spruell

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Tai & Tarin Perry, co-founders of DoubleSavingDivas.com

Black Blogger Month: Double Saving Divas, Shopping with a Purpose

Twins Tai and Tarin Perry preach the importance of saving and budgeting to the person who needs it most—you

With Double Saving Divas, twin entrepreneurs Tai and Tarin Perry provide people of color with…

By Aliya Ewing

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Joe A. Gilbert (Photo courtesy of Integrity Asset Managerment)

Protecting Your Assets

Jefrey Jones’ 80-year-old widowed, childless aunt suffers with dementia. As the primary steward for her…

By Emerald S. Morrow

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Jhanay Harris' house is in financial order (Photo by Lonnie C. Major)

How to Keep a Good Financial Start Going

“My parents were both teachers. They always taught me to save and the value of…

By Sheryl Nance-Nash

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(l-r) Robin A. Young, Financial Adviser and President, Women Behaving Wealthy; Lori Anne Douglass, Partner, Trusts and Estates Group, Moses & Singer L.L.P.; Sharon Epperson, CNBC Senior Commodities and Personal Finance Correspondent; Dail St. Claire, President, Williams Capital Management

Everything You Wanted to Know About Your Finances

Understand your risk tolerance, because most people’s portfolio allocation is not consistent with their risk…

By Carolyn M. Brown

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The Foy Family (Photo by Quantrell Colbert)

Slow & Steady Savings

Their portfolio is a mix of long- and short-term investments that also include domestic and…

By Aisha I. Jefferson

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Yolanda Hawkes is ready for retirement investing (Photo by Quantrell D. Colbert)

Investment Planning by the Decade

Whether the market rises or falls, you need to stay the course and invest throughout your lifetime

Only two in 10 African Americans believe they are on track to meet their goals…

By Frank McCoy

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Earl "Butch" Graves Jr., President & CEO, Black Enterprise

Choose Wealth, Not Style

I’m sure if you’ve read my column, heard my speeches, or had the chance to…

By Earl "Butch" Graves Jr.

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Clockwise from top: Brown, Gumbs, Young, Douglass, Alleyne, Epperson and St. Claire (Photo by Lonnie C. Major)

Get Excited About Your Money

Our Wealth for Life mission is to ensure that you become an active participant in…

By Alisa Gumbs

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Daron Presley (Photo by Kevin Allen)

Cutting Back to Get Ahead

Daron Pressley enjoyed a six-figure salary and an extravagant lifestyle. That’s not to say money…

By Tamara E. Holmes

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Brian and Robin McLean and daughter Autumn (Photo by Paul Nurnberg)

Beyond Homeownership

Military benefits gave Brian McLean, 27, and his wife, Robin, 29, a great head start…

By Sakina P. Spruell

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The Good, the Bad, and the Ugly: 8 Black Lottery Winners Who Hit Big

From triumph to murder, how these minority winners lives were forever changed

Here’s a snapshot of minority winners and what they did with their millions.

By Sasha King

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WINBIG

Free!!! Only the Crazy and Fearless Win BIG!

Get a chance to win free copy of self-made millionaire Arthur Wylie’s book that unlocks…

By Sasha King

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Rodd Herbert (Photo by Kevin Foley)

Coping With Unexpected Health Issues

“When you’re 40 and the doctor tells you that you may not be able to…

By Sheryl Nance-Nash

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Creshinda Clark (Photo by Aaron Raymond)

Think Like a Woman … Manage Your Money Like a Man

According to sociologist Mariko Chang, women’s earnings are currently at about 78% of men’s, yet…

By Bridget McCrea

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Earl "Butch" Graves Jr., President & CEO, Black Enterprise

Women, Control Your Financial Destiny

This month’s column is dedicated to our loyal female readers. My wise grandmother always encouraged…

By Earl "Butch" Graves Jr.

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Image: Thinkstock

Are You a Woman Behaving Wealthy?

What does the amount you spent on your purse (and everything in it!) says about you?

What does the amount you spent on your purse (and everything in it!) says about…

By Elayne Fluker

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black_business_man_looking_at_watch

Is It Time to Negotiate a Higher Salary?

Timely, strategic steps towards establishing and proving your worth

How do you know it’s time to ask your employer for more money?

By Patrice C. Washington

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Jeremy McMullen (Photo by Brian Dressler)

Portfolio Repair

Many people would love to be in Jeremy McMullen’s shoes. At 30, he has little…

By BLACK ENTERPRISE

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economic_recovery

Create Your Own Financial Recovery

Although the unemployment rate among workers 55 and older is relatively low at 6.4%, it…

By Jeffrey McKinney

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Earl "Butch" Graves Jr., President & CEO, Black Enterprise

Make a Financial Commitment to Yourself

Our mission at Black Enterprise is Wealth for Life, providing our audience with the information…

By Earl "Butch" Graves Jr.

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Bernadette Clay (Photo by Kevin Allen)

Year-End Tax Tips for the Self-Employed

When Bernadette Clay established her sole proprietorship in 2007, tax preparation took place between Jan.…

By Tamara E. Holmes

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Chantay Bridges (Photo by Kevin Foley)

The Team You Need for Your Year-End Financial Checkup

At a time when it’s about the parties and festivities, it can be hard to…

By BLACK ENTERPRISE

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Bryan Mitchell (Photo by Jerry Jack)

Financial Fitness Performance Review

With $2,000 to get them started, our previous winners managed to navigate a volatile market…

By Sakina P. Spruell

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For many Americans, a big part of the holidays involve giving presents to others. But it’s perfectly fine and feasible to not give gifts to family and friends and still enjoy the holiday season.
	
In fact, if the tough economy or a job layoff has taken a toll on your household budget, this could be the year to not spend any money at all on gifts. Even if you do have money in a bank account to spend, it’s important to realize that there are plenty of other ways to celebrate the season without making all the festivities centered on gift-giving.

	Still, the average American is expected to spend $704 on holiday gifts in 2011, according to the National Retail Federation. Should you opt out of this year’s holiday shopping frenzy like the folks who’ve joined Buy Nothing Day? Perhaps. Here are five reasons why it might be wise not to spend any money at all on gifts on Black Friday and this entire holiday season. —Lynnette Khalfani-Cox

5 Good Reasons To Buy Nothing & Avoid Holiday Shopping Completely

In a troubled economy, it's perfectly fine not to spend money during the holidays

Holiday shopping can land some people in the poor house. Given the current economic downturn…

By Lynnette Khalfani-Cox

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Ask the Money Coach: Are You Ever Too Old to Start a 401(K)?

Whether it's you or your grandma, here's what you need to know about saving for retirement

Money Coach Lynnette Khalfani-Cox tells you if you’re ever told old to start planning for…

By Lynnette Khalfani-Cox

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MellodyHobson

Don’t Let the Debt Downgrade Scare You

The worst thing to do is panic in today’s market. You can reach long-term goals if you stay the course

Although it was well-telegraphed, I was still plenty surprised when Standard & Poor’s downgraded the…

By Mellody Hobson

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Obama-Cain-2-300x232 (2)

Cain Vs. Obama: A Comparison of Economic Issues

A breakdown of the numbers and the issues

Lynnette Khalfani-Cox gives a breakdown of the numbers and the issues

By Lynnette Khalfani-Cox

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David Banner

David Banner’s 4 Money Management Lessons for Black America

The rapper/actor shares his perspective on the Black community's misuse of its spending power

Inspired by the Pew Research Center’s minority wealth gap report, rapper/producer/actor David Banner shares his…

By David Banner

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Venture Capital Firms Profit from Funding Women-led Businesses

7 Excuses That Are Delaying Your Retirement

Time is the most vital element in building your nest egg. Start now, or pay later

Time is the most vital element in building your nest egg. Start now or pay…

By LaToya M. Smith

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WATCH: Finance Expert Ryan Mack Sounds Off on Occupy Wall Street

The author and financial literacy advocate says it's about more than marching

The author and financial literacy advocate says it’s about more than marching

By Elayne Fluker

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Photo by Chris Hamilton

Tackling a Prosperous Retirement

Business investments are paying off for ex-football player Tony Jones and wife Kamilla

Retired NFL offensive tackle Tony Jones and his wife, Kamilla, have heard the horror stories…

By Aisha I. Jefferson

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college-students-parents-300x232.jpg

How To Have “The Talk” With Your Teen

They're back in school. But, when it comes to raising money-smart kids, it's up to us to initiate the conversation

The bad news: Our most recent Great Recession and the things that precipitated it have…

By Alfred Edmond, Jr.

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Photo: Alex Jones

Inflation-Proof Your Portfolio

How you can craft an investment plan that keeps pace

Short-term signs of inflation are easy to spot, from the higher tab to fill the…

By James A. Anderson

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Sick And Tired Of Your Money Problems? Try Hill Harper’s ‘Wealth Cure’

The actor and best-selling author's new book has The Wealth Cure for what ails you financially, and it's good medicine

The best-selling author and actor Hill Harper provides sound strategies for managing and investing your…

By Alfred Edmond, Jr.

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burning money

Stop Burning Cash!

In three real-life situations, experts show how to create a workable budget so you can take control of your money and meet your short- and long-term goals.

Do you smell the odor of burning currency? If you ever find yourself wondering where…

By Bridget McCrea

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How To Close The Wealth Gap: Step 1

It may take generations to do it. But it starts with making better decisions with the money we have.

The Black wealth gap must be closed. Here’s how we begin to make steps towards…

By Alfred Edmond, Jr.

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We'll all feel weighed down by debt if help doesn't come soon (Image: ThinkStock)

5 Ways You Can Prepare For Debt Default

Don't wait around for the government to decide your financial future

To lend further analysis to the debt default or downgrade, BLACK ENTERPRISE has reached out…

By Derek T. Dingle

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(Image: ThinkStock)

Preparing for the Marathon To Rebuild Our Wealth

Based on the racial divide in the economic gap, a lot has to be done to rebuild our buying power

While America dealt with the Great Recession of 2007-2009, overwhelming numbers of minority households suffered…

By Derek T. Dingle

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Money in the Bank

Raymond Stewart, founder and chief investment officer of RASARA Strategies, picks three banking stocks destined to lead the sector’s resurgence

In many ways, the cloud of worry surrounding financial companies at the onset of 2009…

By James A. Anderson

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Photo by Greg Kiger

Breaking the Cycle

V. Kenneth and Justin Johnson are on a mission to help family, friends, and clients protect and transfer wealth

One of V. Kenneth Johnson’s most pressing goals in life is to “break the cycle…

By LaToya M. Smith

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Malkia McLeod

Precautionary Measures

Malkia McLeod needs to organize her finances to help carry her through an uncertain job market

In the fall, the 37-year-old could be out of a job. A public affairs specialist,…

By Carolyn M. Brown

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Emmanunel Twum

A Savings Lesson Well Learned

Parental tough love set Emmanuel Twum on the path to responsible spending

One of the toughest lessons Emmanuel Twum learned his freshman year in college had nothing…

By LaToya M. Smith

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Playing Catch-Up

To reach their retirement goals, Lee and Tayo Ferguson must save more and spend less

Lee and Tayo Ferguson have all the trappings of middle-class success: two stable careers, a…

By Carolyn M. Brown

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End of the World Checklist: Do You Have Your Financial House in Order?

What will your financial legacy say about you when your world ends?

BlackEnterprise.com’s checklist to prepare to leave behind your financial legacy via estate planning and living…

By Janell Hazelwood

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5 Tips on How to Handle Sudden Wealth

Whether you just signed a multi-million dollar contract or inherited property from a wealthy relative, here are some tips to help you keep—and grow—your wealth responsibly

Whether you’ve just signed a multi-million dollar contract, won the lottery, or inherited property from…

By Robert J. Gordon

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3 Ways to Organize Your Financial Life

Expert tips on creating a simple savings strategy for your short, mid, and long-term financial goals

Expert tips on creating a simple savings strategy for your short, mid, and long-term financial…

By LaToya M. Smith

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Spending less than you earn seems like a simple rule, but as straightforward as it may appear, every year many Americans become the casualty of their spendthrift ways. Making purchases you cannot afford or don’t need, in turn, leads to uncontrollable debt. 	Terry and Tyra Johnson of Yardley, Pennsylvania, have maintained a frugal lifestyle even though they make a combined six-figure salary. Here are four tips from the Johnsons that help them live below their means.

4 Ways to Live Within Your Means

Couple shares tips on how to avoid financial pitfalls

Couple shares tips on how to avoid financial pitfalls

By Glenn Townes

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8 Ways to Save Money on Health Care and Health Insurance

Health care reform was signed into law a year ago but much of it goes into effect in 2014. Here's how to save now!

Health care reform was signed into law a year ago but much of it goes…

By keithmendonsa

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10 Ways to Save Money on Your Tax Return

It's that time of year. Here's how to prepare and save!

It’s that time of year. Here’s how to prepare and save!

By John Simons

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Every Adult Needs a Living Will. Here’s How to Draft One.

When it comes to your healthcare, better smart than sorry

Every adult 21 and older should have a living will, but studies suggest African Americans…

By Elayne Fluker

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The Stock Market Rally Lives On. But Can It Continue?

Today marks the two-year anniversary of the stock market rally; is good or bad news ahead?

Today marks the two-year anniversary of the stock market rally; is good or bad news…

By John Simons

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5 Steps to Improving the Investment Options in Your Employer’s 401(k) Plan

Here's how to get your employer to explore more 401(k) options

Here’s how to get your employer to explore more 401(k) options

By Renita Burns

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Save For a Rainy Day!

Join the America Saves Week Challenge this week and learn how to stash your cash

February 20 through February 27 is America Saves Week. Take on this week’s challenge to…

By Sheiresa Ngo

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Budget cuts

Why Democrats and Republicans Hate Obama’s New Budget

While both sides argue over new proposal, African-Americans brace for "negative effect" of spending cuts

President Obama delivered his 2012 budget proposal to Congress this week, citing it will reduce…

By Joyce Jones

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According to the 2010 Ariel Black Investor Survey, African Americans consistently saved and invested less than whites of similar incomes over the past decade. As BLACK ENTERPRISE CEO Earl "Butch" Graves, Jr. wrote in a recent Executive Memo: "Make money work for you, not against you. We must reverse this trend by taking a disciplined approach." For the February issue of BLACK ENTERPRISE magazine, I charged our Finance Editor John Simons and our Consumer Affairs Editor Sheiresa Ngo with wwweloping 10 power moves to improve our readers' finances. Follow these tips to better manage your money today an dreap huge benefits tomorrow!--Derek Dingle

10 Power Moves to Help You Better Manage Your Money

Simple steps to help you spend, save and invest smarter

According to the 2010 Ariel Black Investor Survey, African Americans consistently saved and invested less…

By Derek T. Dingle

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Power Moves: 10 Steps to Build Wealth Now!

Our editors have developed "The Power Issue" to help our readers find ways to advance their business, professional and financial lives

Our editors have developed “The Power Issue” to help our readers find ways to advance…

By Derek T. Dingle

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6) The rich versus the wealthy: Chris Rock says there's a big difference between rich and wealthy. (Remember? “If Bill Gates woke up with Oprah’s money he’d jump out a [bleeping] window.”) Maybe not; but White believes the true definition is when you no longer have to work for your money; instead your money works for you, your children, your grandchildren... "If you can invest and have your money yield whatever the prevailing interest rate is on that amount at the time, say 3%, and you can live off that interest, you're on your way to being wealthy.”

4/11: 11 Ways to Get Your Money Right for the New Year

Time to get serious about your money matters. Here's how!

</a>With 2010 logged into the history books, it’s time to look forward to the future…

By Elayne Fluker

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For four decades and counting, Black Enterprise has been committed to the financial education and economic advancement of black Americans. Our mission, simply put, is to help you build Wealth for Life. Over the years, we've gained some passionate allies in our campaign to help you reach your goals, achieve your dreams and improve the quality of your life by taking control of your finances. The following champions of financial literacy--ranging from syndicated columnists and television anchors to finance industry pros and community activists--have been among the most effective and determined evangelists of our Wealth for Life Principles. If you are serious about wealth building, pay attention to the people who want to make your rich.

16 Money Experts Who Want To Make You Rich

These champions of financial literacy are committed to helping you to achieve the Black Enterprise mission: Wealth for Life

If Wealth for Life is your goal, these champions of financial literacy are committed to…

By Alfred Edmond, Jr.

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Middle age. In your 40s and 50s, retirement should be top of mind now more than ever. Make sure that you’re taking full advantage of your company’s retirement plan. Contribute at least enough to receive the full match. Also make sure that you haven’t underestimated your time horizon. You don’t want to run out of money too soon.

Smart Money Moves for Every Stage of Life

You're never too young to start planning for your financial future

No matter what stage of life you’re in, it’s never to early–or late–to begin managing…

By Sheiresa Ngo

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‘Black in America’ Shows One Pastor’s Determination to End Debt

Pastor DeForest Soaries installed a four-step wealth building program at his NJ church

Pastor Soaries says debt is equivalent to a kind of slavery
It all started seven years…

By Tomika Anderson

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How to Roll a 401k Into a Business Retirement Fund

There are several options

If I leave my job and start my own business, can I create a company…

By John Simons

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Watch: CNN Tackles Almighty Debt on ‘Black in America’

Host Soledad O�Brien talks to Black Enterprise editors about our community�s struggles with debt management

Soledad O’Brien takes a look at “almighty debt,” its effect on the Black community and…

By BLACK ENTERPRISE

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Retiring Rich: How to Build a Nest Egg With Your Spouse

Advice, tips and strategies you can use now to ensure a secure retirement in the future

Planning for retirement is crucial at every point of your life, and that planning changes…

By Renita Burns

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Investment Banker Predicts Double-Dip Recession

The short term future of our economy isn't so bright

Negative news from the housing market and the employment front, along with a stagnant U.S.…

By Alan Hughes

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retirement

Retiring Rich: Asset Allocation 101

Advice, tips and strategies you can use now to ensure a secure retirement in the future

Asset allocation or balancing risk and reward based on your retirement timeline is important to…

By LaToya M. Smith

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Retiring Rich: Too Young to Think about Retirement? NOT!

Advice, tips and strategies you can use now to ensure a secure retirement in the future

Taking advantage of your 401(k) plan now will reap rewards in the future.

By LaToya M. Smith

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Home Base: A 401(k) Option for the Self-Employed

Information and resources especially for home-based business owners

Sole proprietors and owners of owners of home-base businesses are less likely to own IRAs…

By Renita Burns

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Retiring Rich: Are You Ready for More Transparency in Your 401(k) Fees?

Advice, tips and strategies you can use now to ensure a secure retirement in the future

Beginning July 16, 2011, the Department of Labor will require plan providers to disclose fees…

By Patricia Stallworth

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The Black Enterprise Wealth For Life Principles

Step-by-step guidelines to responsible saving, investing, and spending to build wealth and pass it on to future generations

The 10 Black Enterprise Wealth for Life principles are meant to serve as a step-by-step…

By BLACK ENTERPRISE

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Retiring Rich: Understanding the Roth 401k

Advice, tips and strategies you can use now to ensure a secure retirement in the future

BlackEnterprise.com sat down with personal finance expert Eric Tyson to discuss the pros and cons…

By Renita Burns

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POLL: What Would You Do If B.E. Gave You $2,000?

Enter our Financial Fitness Contest and you may have to make that decision. Tell us how you'd use the cash prize.

For a decade, Black Enterprise has awarded scores of our readers $2000 to kick-start their…

By Derek T. Dingle

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Building Wealth Requires Do-it-Yourself Investing

Increasingly, we must all fend for ourselves when it comes to living comfortably in our golden years

This year, my 6-year-old daughter, Ella, learned how to count money. I burst with…

By John Simons

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Eyes on the Prize

April McLemore wants to �retire by age 55. But will she have enough money saved in 16 years to live �comfortably?

Friends and family aren’t likely to find April McLemore shopping in stores such as Nordstrom…

By Carolyn M. Brown

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No. 40: Eddie Brown, The Master of Mutual Funds

Follow the Black Enterprise 40th Anniversary countdown of the most impactful black business leaders of the past 40 years

In celebration of our 40th anniversary, Black Enterprise ranks the Titans: The 40 Most Powerful…

By Derek T. Dingle

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Cutting Edge: When Your Employer Switches 401(k) Providers

How to figure out what it means for your portfolio

A few months ago, we received notice from our human resources department that we were…

By Renita Burns

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Money Matters: Will Withdrawing Cause More Hardship?

I’d like to make a hardship withdrawal from my Fidelity 401(k). How much will I…

By John Simons

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Money Matters: Managing Retirement Accounts

I have a few retirement accounts set up. Can you provide me with a list…

By John Simons

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How Safe Are My IRA Funds?

Are my retirement funds also safe under FDIC protection or should I move that money…

By Carolyn M. Brown

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Establishing A Legacy of Wealth: Part 2

It's time to take care of business

Yes, we have been oppressed, but we can do much more to help ourselves. Why…

By Ryan Mack

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Establishing A Legacy of Wealth: Part 1

We must work on taking the poverty out of the people

No, we haven’t had the best of times since arriving to this country. It…

By Ryan Mack

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The Cutting Edge Q&A: Rebounding After a Custody Battle

Be diligent in finding solutions to manage debt

Since last year, I have fallen behind on the majority of my bills due to…

By Renita Burns

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It’s Earth Day. Get Some Real Green

Not really into saving the environment? Then focus on saving cold, hard cash.

Unless you live on another planet (literally), you know that today, April 22, is Earth…

By Alfred Edmond, Jr.

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Do As I Say, Not As I Do?

Is borrowing reckless or responsible? Depends on whether debt is "good" or "bad"

A few days ago, I was confronted with a very interesting issue by Black…

By John Simons

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Women of Power

Venus Williams

Watch Sonia Alleyne’s Interview with Venus Williams at This Year’s Women of Power Summit [Video]

Venus Williams was one of the featured speakers at this year’s Women of Power Summit.

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Women of Power: Pushing Past Fear To Make Your Next Career Move

At the Black Enterprise Women of Power summit, attendees learn how to push past fears…

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