Celebrate Personal And Financial Freedom This 4th Of July
Originally Published Jul. 4, 2014.
Every Fourth of July, we celebrate the nation’s freedom. This is also a great time to take charge of your money in an effort to gain financial independence. There are many ways to take control of your finances. Looking into retirement options, assessing and taking control of your debt, or creating a budget are all ways to start your personal financial liberation. Here are a few first steps to get you moving in the right direction.
Pay more than the minimum on credit cards:
When you just pay the minimum on your cards, you’re not effectively chipping away at the debt. This approach will just prolong repayment and result in paying more interest. Here’s a great example:
With a $10,000 credit card debt at 18% interest, even if a person never adds any purchases or fees to the account, and makes a monthly on-time payment of 2% of the balance, it will take them 48 years to become debt-free. Further, that original debt of $10,000 will cost them $36,825, with $26,825 going toward interest.
So if you don’t want to end up in a situation like that, strive to pay more than the minimum. You’ll be happy you did.
Track spending:
How can you know what to cut back on unless you’re aware of what your spending? Note what you buy (and how much you pay for each item) in a notebook or Excel spreadsheet. Do this for at least a month. This will show you where you need to cut the fat.
Keep tabs on your credit report:
Make an effort to regularly check your credit report for errors. You are entitled to receive one free credit report from each of the three major credit bureaus (Equifax, TransUnion, Experian) once a year. You can get your free reports at annualcreditreport.com.
College Students Tasered By Atlanta Police During 2020 George Floyd Protest Get $2M Settlement
The city council emphasized that the settlement does not admit liability by the officers or by the Atlanta Police Department.
The City of Atlanta has approved a $2 million settlement for two college students who were shocked with a Taser while stuck in traffic during a 2020 protest over George Floyd’s killing. The City Council agreed to the resolution July 1.
On May 30, 2020, Atlanta police pulled over the plaintiffs, Messiah Young and Taniyah Pilgrim, in downtown Atlanta. Body camera footage revealed the officers smashing the driver’s side window of the vehicle before using the Taser on the former HBCU students and forcibly removing them from the vehicle.
The footage, released to the public a day later, went viral, fueling the tension already brewing between BLM supporters and police. Young recorded the ordeal on his phone while urging officers to release another man who pleaded his innocence despite being detained. Officers overheard saying, “he’s got a gun” about Young, proceeded to use the Taser and zip-tie him.
However, police reports did not list any gun found on his person or in the vehicle, as confirmed by the Associated Press. The council emphasized that the settlement does not admit liability by the officers or the Atlanta Police Department.
“This traumatic incident has left a permanent mental and emotional scar on both of these young adults,” Pilgrim’s lawyers, Dianna Lee, L. Chris Stewart and Justin Miller, said in a statement. “This case has been a roller coaster of emotions for two innocent college students who were the victims of unjustifiable excessive force by officers of the APD.”
Young’s lawyer, Mawuli Davis, added, “The resolution of the civil case will allow these young people and their families to continue healing from this traumatic experience. It is important for them to help the community to remember that the fight to prevent police brutality continues.”
In an initial response to the cops’ actions, then-mayor Keisha Lance Bottoms and then-Police Chief Erika Shields announced the firing of two officers, with three more placed on desk duty. Six officers in total received arrest warrants for the excessive force documented that night.
However, in February 2021, the Atlanta Civil Service Board overturned the firings, citing that the city did not follow its personnel procedures for handling dismissals. A special prosecutor adropped the charges against all officers in May 2022.
Angela Simmons Apologizes For Bringing Gun-Shaped Purse To BET Awards
Simmons explained on social media her reasoning behind bringing the provocative clutch to the June 30 event.
Angela Simmons apologized for parading her gun-shaped purse while posing on the BET Awards red carpet. The accessory sparked controversy for its insensitivity toward gun violence.
“When I chose the purse, I believed it was cute and unique, and made a poor decision in using it as an accessory to amplify my beauty,” Simmons wrote to her eight million Instagram followers. “I deeply regret that this item, which symbolizes a gun, was inappropriate and insensitive, especially given my personal and community experiences with gun violence.”
Simmons explained her reasoning behind bringing the realistic gun purse to the June 30 event on social media. The Neighborhood Talk re-shared the story post to its Instagram account.
The father of Simmons’ child, Sutton Tennyson, was fatally shot in the driveway of his Atlanta home in 2018. Her personal history with the issue made commenters question why she brought the gun purse to the awards show. In light of the backlash, Simmons reiterated her commitment to reducing gun violence in the country.
She added, “I understand the pain and hurt this has caused, especially to those who have been directly impacted by gun violence. For my entire life, I have always exemplified peace, unification, and the resolution of gun violence in America. I have personally lost my partner, the father of my child, to gun violence, and I have witnessed its devastating impact on my community in Southeast Queens.”
Gun violence remains a critical issue in the U.S., particularly for the Black community. Between 2017 and 2021, Black individuals accounted for 60% of firearm homicide deaths each year, according to Brady United, a nonprofit advocating for gun control. Gun violence continues to impact Black Americans disproportionately, a fact that many felt was trivialized by Simmons’ gun clutch.
Simmons went on to emphasize that the “misstep” does not define her character while also reaffirming the validity of the Black community’s experience with gun violence.
“It was a mistake that does not define who I am or my commitment to ending gun violence. To anyone who was hurt or offended by my actions, I offer my deepest apologies,” concluded Simmons. “Moving forward, I will continue my dedication to making peace a reality for millions of children and families across America who, like mine, have been directly impacted…”
Atlanta’s New Black Wall Street Founder, Bill Allen, Dies At 80
Allen first launched the New Black Wall Street in 2021 within the Atlanta suburb of Stonecrest.
Lecester “Bill” Allen, the founder of the New Black Wall Street in Atlanta, has died. His family confirmed his death at age 80 occurred at the end of June.
Allen first built the Black-owned market space in 2021 within the Atlanta suburb of Stonecrest. He sought to recreate and embody the success of the famed Black Wall Street in Tulsa, Oklahoma. Upon his death, Allen’s family released a statement about the “truly remarkable” businessman and his legacy.
“As a staple and beloved figure by the constituents of Stonecrest, GA., Mr. Lecester “Bill” Allen was a pioneer and iconic businessman who served as an inspiration for countless entrepreneurs throughout the state of Georgia and across the nation,” shared the family in a statement obtained by Fox 5. “Known locally as “The Wiz,” Mr. Allen was a visionary who saw potential when others saw obstacles. He created many platforms for African American and minority entrepreneurs to build and grow their businesses, foster economic independence and develop community resilience.”
They also detailed his other business endeavors, including the Allen Entrepreneurial Institute. The organization sought to help underrepresented groups with resources, mentorship, and networking events. He also contributed over $100 million to students at HBCUs.
Moreover, Allen died as the largest commercial landowner in Stonecrest. According to U.S. census data, the city hosts a Black population of over 90%. His establishment of New Black Wall Street was a testament to his dedication to Black entrepreneurs in the area. His family hopes his support of their ambitions continues.
“While the loss of our loved one is deeply felt, we are determined to run with his same spirit as his dream is truly becoming a reality,” continued the statement. “Now is the time for an amazing shift, and no stones will be left unturned until the words and ideas of this great man become the footprint of the City of Stonecrest, Georgia, “Ownership, Ownership, Ownership,”
Nick Cannon Exposes Why His Private Parts Are Insured For $10 Million
Cannon maintains that he solely wants to protect the organs that helped him create 12 children.
Why does Nick Cannon, the doting dad of 12, have a $10 million insurance policy out on his genitals?
“I had to insure my most valuable assets,” Cannon told Entertainment Tonightat his son’s Legendary’s 2nd birthday party. “Because you hear about, like, all these different celebrities insuring their legs… so I was like, ‘Hey, well, I got to insure my most valuable body part.'”
Cannon, 43, revealed the financial protection of his genitals in June. The move was made in collaboration with Dr. Squatch, a men’s personal care company. In the shared post, its “Ball Valuation” tool calculated Cannon’s testicular in the $10 million range.
“Haters say it’s time for me to stop having kids and put this super sperm to rest,” Cannon said in a statement. “But I’m doubling down on these valuable balls and my future kids. Shoutout to Dr. Squatch for giving my balls the credit they deserve and hooking me up with the protection I need to keep this family tree rolling!”
The policy is seemingly real, perhaps making his assertion that he has the “most valuable balls in the world” true. However, he maintains that he solely wants to protect the testicles that helped him create 12 children.
“[I’m] just making sure nothing goes wrong,” the Masked Singer host shared with the news outlet.
With his many children, Cannon already has plenty on his plate. However, Legendary’s mother, Bre Tiesi, reassured naysayers that the BLACK ENTERPRISE Disruptor Summit 2024 Speaker makes time for it all.
“He manages it really well. I feel like that’s why no one ever hears anything because we’re all happy. We all make it work,” Tiesi, who also stars on Netflix’s Selling Sunset, told ET. “He’s such a good person, genuinely, and he really cares, and he does want to be there, and he’s never gonna blow anything off. It makes it easier when you’re doing things because you know he’s gonna make the effort, and he’s gonna show up.”
There is no word on whether Cannon plans to add any more little ones to his legacy. However, he will have the insurance money at the ready if anything thwarts his attempt to procreate.
Reesa Teesa Felt Lonely After ‘Who TF Did I Marry?’ Went Viral
"Who TF Did I Marry?" amassed millions of viewers and critics who judged Reesa Teesa about her appearance and weight.
At the 2024 CAA Amplify Summit, TikTok phenomenon Tareasa Johnson, known as “Reesa Teesa,” captivated attendees with her poignant narrative during the initiative’s Storyteller Series.
The Amplify Summit provided a platform for Reesa, a recent CAA signee, to delve into the aftermath of her viral 50-part series, “Who TF Did I Marry?” Reesa’s TikTok saga, which unfolded over four days in February, unexpectedly thrust her into public scrutiny. Despite garnering millions of views and international attention, according to previous coverage by BLACK ENTERPRISE, Reesa revealed that the experience led to “one of the darkest and loneliest periods” of her life.
“It was a very difficult time,” the TikTok star confided to the Amplify Summit audience, describing the barrage of online attacks she endured, from ridicule about her appearance to people calling her ” big back” and a clout chaser. Her immediate circle’s unawareness of her viral predicament compounded the isolation.
“If you had asked me Feb. 13, ‘Reesa, what does your community look like?’ I would’ve said, ‘My community is my family, it’s my friends, it’s my crazy co-workers…it’s people who look like me…It’s people who I’ve been through stuff with…understand me, who get me,’ but I would’ve told you my community is small,” the “Who TF Did I Marry?” creator said.
However, amid the negativity, a turning point emerged after a single comment from a woman online read, “I am the one that you helped,” sparking a transformation in Reesa’s outlook.
This revelation at the Amplify Summit highlighted her expanding global support network. “My community is not the people who I see every single day. My community is actually made up of all shapes, colors, genders, [and] ethnicities.” She continued, “The people who will stand by you may not even be people you’ve ever met, but they identify with your story.”
The Amplify Summit presentation underscored Reesa’s newfound mission: to listen and stand with others sharing their stories.
She emphasized, “You never know whose life you may be changing or whose life you may be saving by giving your time and your energy to listen to their story.” Reesa painted a vivid picture of her global tapestry of support for “Who TF Did I Marry?” stretching from Asia to Africa and Australia.
Despite the vast distances separating her from these far-flung admirers, she expressed a deep sense of connection, feeling their unwavering solidarity across oceans and continents. Reesa issued a heartfelt challenge to the Amplify Summit audience, urging them to become active listeners, to pause, and genuinely absorb the narratives woven into the fabric of their immediate surroundings.
'I was gone for 20 days. I don’t remember anything.'
After suffering a major health scare last year, multi-talented entertainer Jamie Foxx finally opened up about what he went through during that scary time.
Although he doesn’t get into specifics about his condition, fans and media were left speculating about its seriousness at the time since there were no public responses to what was going on with him. The discussion took place in Phoenix, and the video clip was shared on TikTok by a user named Dr. Brenda Combs.
“April 11 last year, I had a bad headache and asked my boy for an Advil,” Foxx said. “I was gone for 20 days. I don’t remember anything.”
After snapping his fingers for emphasis, he then states, “So, I’m in Atlanta. My sister and my daughter took me to the first doctor. He said nah, gave me a cortisone shot. Next doctor said, ‘Something’s going on up there.’ I won’t say it on camera.”
The clip ends before he finishes the conversation with the people listening in.
In April 2023, the media reported that the In Living Color alum was hospitalized for an undisclosed illness. His daughter, Corinne, posted on her Instagram account confirming that her father was recovering after the medical emergency. Word of his health scare surfaced one day after the comedian was photographed in Atlanta on the set for his Netflix film Back in Action.
On Dec. 4, the talented artist appeared at the Critics Choice Association’s Celebration of Cinema and Television: Honoring Black, Latino and AAPI Achievements to accept the Vanguard Award. After getting his award, he spoke to the audience and said that taking a walk to the podium was something he couldn’t do “six months ago.”
“I wouldn’t wish what I went through on my worst enemy because it’s tough,” Foxx said.
Kai Cenat Obtain Philanthropist’s Credit Card To Donate Items To Compton Community
'I asked for MrBeast’s credit card. And guess what I’m about to do?'
Bronx-native and popular online streamer Kai Cenat has teamed up with another popular YouTuber, James Donaldson, better known as MrBeast, to purchase items to donate to residents in the Compton neighborhood.
According to Dexerto, during a June 25 livestream, Cenat announced that he had obtained a credit card from MrBeast and would use it to give back to the community, which he did on July 1 in Compton. MrBeast is a philanthropist who has amassed over 295 million subscribers on his YouTube channel. Some of his listed accomplishments include building wells in Africa, giving millions to charity, donating over 100 cars, and many other things, as per his YouTube channel.
Kai said, “I’m copping everybody mad s**t.”
Social media posts revealed the gamer keeping his promise as he appeared in Compton giving away free footwear from the back of a truck allegedly purchased from Cool Kicks. A video clip shows a large crowd gathered at the truck as Kai is seen giving out the sneakers obtained by him.
Kai Cenat pulled up in Compton to give away free shoes after cashing out at Cool Kicks. pic.twitter.com/oW1rQPOixr
Another clip revealed that Kai gave away electronics, including televisions and iPhones, to the people who gathered to receive them.
Kai Cenat pulled up to the hood in Compton with the credit card Mr Beast gave him to spend which Kai proceeded to match and gave away so much to the youth 🔥🔥🔥
Kai allegedly matched the amount used to purchase the gifts as well.
Metro reported that he stated, on video, that he would match the amount with “his own money.”
“I asked for MrBeast’s credit card. And guess what I’m about to do?
‘I’m about to go back to the hood and copping everybody mad s**t. If it’s a hundred, I’ll match it. If it’s a million. I don’t got a million,’ he said.
Earlier this year, the 22-year-old announced he had inked a partnership deal with Nike, becoming the first streamer to partner with the sports giant.
“I would like to announce that we are officially a part of the Nike family. This has been a long time waiting.”
Cheyney University, Oldest HBCU In U.S., Has Accreditation Reaffirmed
However, the school also referred to the decision to remove its probation as "long-overdue."
Cheyney University of Pennsylvania, the nation’s oldest HBCU, has had its accreditation reaffirmed in a critical win. The institution had been on probation since November 2023.
The HBCU revealed encouraging news of its reconfirmed status and removal from probation on July 1. The Middle States Commission on Higher Education (MSCHE) originally placed it on probation. The agency claimed the school lacked sufficient evidence of operating according to standard procedure.
“Cheyney University appreciates [MSCHE’s] review of our accreditation and its decision to remove our probationary status as of June 27, 2024,” explained the university in a statement obtained by Fox 29.
“This reaffirmation of accreditation by MSCHE validates our unwavering commitment to academic and operational excellence. It also reinforces our view that an accreditation process must be fair and transparent for all higher education institutions, including HBCUs.”
However, the school also referred to the decision to remove its probation as “long overdue.” They stated that the positive assessment made by three distinct MSCHE-appointed peer evaluations, all occurring between February 2023 and April 2024, should have granted a reaffirmation before now.
They added, “While we agree with this decision, we remain disappointed by the process of arriving at this long-overdue outcome and will continue to advocate for equity and transparency. This current Commission decision is consistent with the assessment of three separate MSCHE-appointed peer evaluator teams that visited Cheyney’s campus between February 2023 and April 2024 and formally reported that Cheyney appears to meet the Commission’s Standards of Accreditation and Requirements of Affiliation.”
The news of its reaffirmed accreditation is a spark of hope for fellow HBCUs at risk of losing theirs. Saint Augustine’s University, for instance, continues its fight to keep the doors open amid the threat of shutting down.
The North Carolina HBCU has faced financial woes and alleged “mismanagement.” The issue resulted in delayed payments to faculty and students sent home early, with the Southern Association of Colleges and Schools Commission on Colleges (SACS) placing the institution on probation this year. The school’s accreditation remains on hold as it hopes to raise $32 million to absolve its debts and continue operations.
In the meantime, Cheyney must submit a customary monitoring report by March 2025 to ensure its compliance. As part of its eight-year accreditation cycle, it will receive another evaluation visit during the 2030-31 school year.
Regardless of the delayed outcome, Cheyney remarked on its “undeniable progress” in keeping the storied institution open for more generations of HBCU students.
“Middle States’ decision reflects the undeniable progress the Cheyney University of Pennsylvania has achieved under the stewardship of our administration, the dedication of faculty and staff, and the relentless support of our countless advocates who have stood by Cheyney throughout this entire process, so we can serve our students and continue to uphold the legacy of our institution.”
Mentor Or Business Coach? Here’s How To Determine What You Really Need
Either way, you have to put in the work.
Originally Published Oct. 19, 2022.
One of the most frequent questions business owners ask me is, “Can you be my mentor?” I’m not a mentor, nor am I a business coach, so my answer is always “no.”
Recently, I decided instead to ask someone what they were actually looking for. One owner told me she wanted guidance and direction on her business and entrepreneurial journey.
What is a business mentor?
A business mentor is often someone you know or are acquainted with. They’re someone who cares about you and is interested or invested in seeing you succeed.
With a mentor, you likely won’t need to meet on a regular basis. They might check in on you from time to time and if you have a question; they’re available to take your call. Overall, the mentors in my life are business friends who I turn to for tactical business issues, but also for emotional support.
What is a business coach?
A business coach is a different person, and is often someone you hire and schedule to meet with on a regular basis. You usually have full permission to call them within an agreed upon timeframe. Business coaches expect and want you to connect with them as much as you need because it’s their obligation to you based on what you pay them.
There isn’t a set rule on how to work with a business coach. You might work with a business coach for a year or more. While another coach might take you through a defined curriculum that lasts 30 to 60 days.
How do you find a business mentor or coach?
Whether you’re looking for a mentor or a coach, it’s important to know that the best relationships take time and a mutual understanding. However, be careful from whom you get advice. You want a coach or mentor with proven expertise and experience who can help you find the best solutions for you and your business. A business coach and mentor can help clarify questions like:
Does my business have to run Facebook ads?
Does my business have to hold webinars to drive leads?
Should I scale my business?
I recommend you get a mentor you’ve known for some time and know a bit about their background and journey. Maybe they’re a mature and seasoned business owner you met at church or another parent you got to know through your child’s third-grade class.
On the other hand, many professional business coaches actively network for clients through podcasts, webinars, and even digital advertisements to make business owners like you aware of their services. Before you hire a coach, spend some time listening to their free content to get a feel for who they are, how they deliver, and what their expertise is.
How much will it cost me?
A mentor is often free. There are several people in my life who call or email me for quick input on things like referrals to other vendors or suggestions on their website.
Of course, I don’t charge them for this because they are friends I want to see succeed.
For a business coach, you should expect to pay for their services, but there’s not one set price. You might pay $50,000 for a six-month intense program with them, a monthly fee, or by the hour. Before you lock in and pay a huge fee for a coach, be sure they’re the right fit for you and your business. Get referrals and spend the extra time getting to know them as best you can.
Are you ready?
Before you hire a business coach or work with a mentor be absolutely sure you’re ready. Ask yourself questions like:
Is my mind open to advice?
Am I ready to implement someone else’s suggestions?
Am I prepared to consider that my way might not be the best way?
Am I willing to go beneath the surface to explore how the emotional and personal aspects of my life affect my business success?
Use multiple advisors
Just because you’ve hired one business coach or have one mentor doesn’t mean you’ve “arrived.” Over the years I’ve had several different mentors and coaches who’ve helped me reach success. Yacov Wrocherinsky is an entrepreneur in New York City and the founder of Orion Global Solutions. Years later, he remains a true mentor. Even though we’re the same age, he’s built larger and more complex businesses than I have. I visit Yacov’s offices several times a year and we remain in touch by phone. He pushes me to think in different ways about my business and to raise my standard of success.
Some business coaches might specialize in mindset and sales. Others might have more experience in e-commerce and digital advertising.
Regardless, business coaches should have several years of experience building businesses and especially a successful business of their own—I recommend more than one business. Some other things you can ask your business coach or mentor is what books they read, podcasts they listen to, and events they attend. If they’re not investing in themselves first, be cautious.
Article written by Ramon Ray, the founder of ZoneofGenius.
