AUGUST 24 - 30, 1986 THE MICHIGAN CITIZEN
Co r
ing fina
cia
at
fe Ameri n r ceive
riou financial education
they udy their ay through
high hool and college. The
net re It of this failure of the
edu tion Sf em and the family
environment i that most Ameri-
s . e into adulthood finan
cially . norant.
This ignorance in turn pro
duce a ho of fmancial mis
es which haunt many of us
through ut our live .
This ee, we would like
to begin I at m of the
mo common fmancial mi t
and gge me way
correcting them.
I T KE o. 1 - FUJ
To Set Spec' Financial
. If you have not t specific
finahcial objective for your
life th n you are like doctor
trying to perform heart oper
ation in the dark. Like the
doctor, there will be cert in
things you will kno almost
by in tinct but only dumb
luc will enable your financial
operation to be a sueee s if you
do not tum on the light by
establi ing clear, p cific
financi goals.
The goal ill be the road
m p which guide your ction.
The best w y to correct this
mist e i rite down your
ancial obje tives po t them
pI ce you mu t visit every-
a od po ing pl e is
near your b throom mirror,
and revie your objective
everyday e ecially on payday.
ST o. 2 - Failure
To Pay Yourself Fir .
Throughout our live we are
told it is a good idea to save a
portion of ur income. H6-
ATTORNEY A D COUNSELOR AT LAW
ever, compared to other estern
nations American have one of
e lowe t vings rate in the
orld.
Thus, people are often left
ing, "How 'tan I ve when
I have many pre sing bills
to pay?" Well, the an er i
simple: YO MUST P Y
YOURSELF BEFORE YOU
P Y 0 EELSE.
We recommend that e ch
wor ing person t a goal of
aving at least 10% of every
dollar he or she earns. The
only w y to ccompli this is
to pay your If fir t. You must
treat this self-payment with the
same riou ess you treat your
monthly mortga e or rent pay
ment.
ISTAKE 0.3-' Of
Credit A Credit Card .
Expert estimate that some
where cIo to 30 million
Americans have what is nor
mally referred to as bad
credit rating. A substantial
portion of the credit profiles
becam negatively rated be
cau e of a misuse ,of credit
cards.
With the exception of bank
ruptcy, negative credit infor
mation can stay in your credit
me for seven year In the
ca of bankruptcy, the period
i ten ye This negative
credit information can virtually
ruin your chance of getting
new credit, credit card or
loan .
Suffice it to say that clear
ing up a negative credit profile
prior to the end of the yen
or ten year period is not going
to be easy but one way of cor
recting this problem is to con
tact a credit repair fum. These
orris Ga in
ERAL PRACTICE OF LAW
505 E. Emp... treet B.nton H.rbor, MI 48022
-
CALL 616/926-7143
DELL N. DAVIS, JR.
1186 FIFTH STREET
MUSKEGO ,.MI 49440
ATIORNEY
AT LAW
firm can help but at a cost.
Further help with credit re
pair can be gotten by buying
the booklet Credit Repair Made
Simple (7.95) from Law-Tay ,
Inc., P.O. Box 54041, ashins
ton, IX: 20032.
1ST AKE o. 4- - FaDure
To In d/Or SWt Bu "-
ne
This mistake is specially
problem amo g Black, Ameri
can. The simple fact is that
fewer than 10% of all the jobs
in thi country pay enough to
allow a person to become
financially secure.
BUSI
11
national investment banking
firm specializing in the structur
ing, underwriting and placement
of state and local government
bond and note issues. B e
well, 38 of Los An eles has
been president and chief execu
tive officer of the Commercial
Redevelopment Corporation a
real property redevelopment
firm and the Brotherhood Cru
sade, a Blac community im
provement organization, there.
Did you
know?
DID YOU 0 .,. that
a growing number of experts i
predicting a recession for late
this year or early 19 7. If
they are right the ne ative
side of Reaganomic will come
home to roost and could thu
pave the ay for the election
of a d ocratic president in
198 .
If you desire financial e
curity, you must either look
into a bu ine of your own or
you rnu make your savings
or for you by inve tinge
For a free guide on investment
opportunities for Blac s rite
the Blac econom If-help
group Potomac ciates 1377
K" Street, , Suite 9,
ashington DC -20032. In
clude 2 to cover the cost of
postage.
ext wee , we will con
tinue our look at the most
common fmancial mist es and
how best to correct them.
ESS BRIEFS �-
cDonald's Corporation re
cently signed a 24 million
re-insurance contr ct with
Florida ba d Afro-American
Life Insurance Company.
Afro-American Life will be
one of five 81 c finn that
provide in e ce 0 160
million in group term life
- coverage for McDonald' Cor
pora ion.
Over 17 percent of c-
Donald's total term life
insurance programs are under
written by minority companies.
Atlant Life Golden State
utual Life rth Carolina
Mutual and Chicago etropoli
tan Mutual Life are th other
minority insurance companies
. . Cran ton Securities
Company today announced the
appointment of Danny J. Bake
well Sr. as president and chief
oper ing officer. Cranston
Securities i a Washington-based
s a redeveloper, Ba ewell
is nown for successful com
pleting the Compton, CA, Busi
ness District project, a down
t wn redevelopment plan that
had been dormant for two
de ades before his inv lvement.
He al
THE CREDIT AND LOAN GUIDE
Did you know that there are private lenders who provide
loans to almost Inyon with a steady job, regarless of th per
sen's-cr dit rating?
A list of those private lenders is just a small bit of the
financial self-help information in the just released guidebook
entitled: The Credit And Loan Guide.
Also available in the Guide:
* The Six Best Ways To Raise Money Quickly
* How To Repair Your Credit 'Rating And Qualify For
Major Cr dit Cards in 90 Days
* Motivating Yourself To Financi I S curity
But best of all, the Guide Is only $11.95. Send check or
money order to Potomac Associates, 1377 UK If Street, NW.
Suite 98, Washington, DC 20005.