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5 Ways to Reduce Debt

In 2002, Kristen Tate decided that debt free was the way to be. With a debt load of $28,000 that included student loans, credit cards, and a car note, Tate, who earned $65,000 as an account manager for a global public relations firm, began to pay triple the minimum payment of $200 each month. Tate eventually withdrew money from her savings account and paid off the balance—by 2008, she was completely debt free. Now a self-employed communications consultant, the 29-year-old says she met her goals by drawing on the values she was raised with. “My parents and grandparents stressed the importance of being financially responsible. Rather than buying everything I wanted, I lived frugally and paid down my debt. I wanted the peace of mind of knowing I didn’t owe anyone.” —

Family Ties

Franklin Shanklin Sr. has always dreamed of starting a family-owned business. So it came as no surprise when his sons, Frank Jr. and H. Dwayne, partnered with him to create...

Financially Sound

When Standard & Poor’s analyst Robert McMillan agreed to provide BLACK ENTERPRISE with an exclusive portfolio of stocks last year, he told us that a slow economy doesn’t always damage...

Much Higher Learning

“What I enjoyed the most [at the bank] was developing my employees—training them and watching them move from level to level. I had more passion for the teaching element of...

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