THE ICHIGAN CITIZEN NOVE EA 2 - I, 1
NiONEY T ALK�
Blacks must create wealth
ByJ
You do not need a high­
priced financial Idvilor in order
to develop a onably
effective fmancial plan. A
small amount of reading,
financial • notebook and some
minor adjUJtment in your
attitude could start you down
the path to' greater financial
curity or even ealth.
Fir of all, you mu com­
mit yourself to both developing
d icking ith a fmancial
plan.
In order to help you do ju
that I want you to remember
these two points:
-The erage American,
e ially Black, ve le than
anyone e in the indu rial­
lized orld. One result of thi
n in a Cenllli Bureau
report hich recently found that
87% of American retire either
in poverty or on very me r
income .
-To .. m 'or extent, be­
coming financially ure in this
life is a mental exercise. If
you think you can, you're
probably right. Conversely,
if you think you can't, you're
also right. You mu t believe
that you can do it.
Secondly, you mu . live by
the principle of ''Pay Your­
self First." There' no other
way to consistently save a
specific portion of your income.
However, mo of us are
Caught up in meeting basic
expense that we put off saving
money until we have some
"extra money." The net re It
of this appro ch is that we
usually end up not ving.
This is where a good flnan-
cia} plan comes in. ost people
find it extremely difficult to ge
on. a "pay yourself fir ., foot-
evlon attacked for
ewsweek remarks
CHICAGO - The American
Health and Beauty Aid I In-
itute (AHBAI), a trade
ciation representing twenty­
on Bl hair care manu­
f cturers, today called upon
Revlon, Inc., the multi-n tional
cosmetic giant, to apologize
and ddr the "demeaning and
inflammatory" atements made
by a top Revlon executive
ding minority produced
p oducts,
A reported in th October
13 of SWEEK
mapzine, Irving Bottner, Presi­
dent of RevIon's profe 'onal
products division quoted
follo s: "... e are ccused
of t inI busine ay from
companies, but Bl con-
er buy quality product
. too often their B bro-
then didn't do them any good."
Bottner abo ated," . . . In
the next couple of year, the
Bl -owned buline s will
disappear. They'D aD be sold
to bite comp . "
"Like the recent racilt slur
by Japan'l Prime inister
Y uuhiro lOne, the com­
ments are an affront not only
to our B manufactuer but
to all of B America,"
a rts Lafayette J one , Ex cu­
live Director of AHBAI. Con­
tinues Jones: 'e ill not
and by idly and tolerate
ch blatant disrespect. Re Ion
o es AmeriCan ift
and full explanation."
The Black hair care m et
. one of the large and mo
important categories in Ameri­
can busine . Annually, Black
consumer nd an estimated
$1 billion on such product ,
of which Black-owned manu­
facturer account for approxi­
mately 50% of yearly consumer
es,
"Remember, Blae manu-
f: cturers ch adame CJ.
W er (inventor of the hair
raigbtenina comb) and other
started this industry in the
early 1900's, to ·tisf'y the
needs of Bla consumers, ho
ere virtually ignored in the
eneral marketplace. We've been
in this bu e ever lince, -
growing d developing our pro­
ducts to meet the full tpeCtrum
of B1 ck hair care need And
e will not be driven out of
. this market."
Adds J ones: "The real
the entire Black
busine communityis clear -
there is an ressive ult
underway in the name of profits
and market expan 'on that
threatens the I significant
economic foothold we have in
the entire mar etplace.
And its not just the manu­
f cturers, ho are being af-'
fected. Abo threatened is the
existence of Black cosmetolo­
gists and distributors, which
ould further erode the
economic viability of the Blae
hair care industry and our
communitie ".
AHBAI members, ith nearly
$500 million in annual con­
sumer sales, are deeply com­
mitted to pre rving the
economic ability of their com-
munities. AHBAI member
inve in and span r a variety
of civic ctivitie around the
country, provide more than
3,500 jobs nation ide.
AHBAI members Illpport hun­
dreds of other minority busi­
I ho provide a wide
of ra materials and pro-
. nallenices.
THE CREDIT AND LOAN GUIDE
Did you know that th ,. Irl privati I din who provide
loans t.o almost Inyo with. stlady job, r IrllSS of thl per­
son's'ci'Id rat I ?
A list of those privati ndws is just I smlll bit of the
finlncial tf-h Ip Information in thl just rlilised guidebook
ntltllel: Thl Credit And LOIn Guide.
Also IVli II in thl Guidi:
* Thl Six B WlYs To Allse Money Quickly
* Ho To A air Your Credit Rltlng And QUIlify For
Ijor CI"IdIt ClrdS in 90 DlYs
• Motlvatl Yourself To Finlnclll Security
But b of III, the Guidi Is only $11.95. Send check or
money order tb Potomac AssoclatlS, 1377 UK" Street, NW,
Sultl 98, WIshlntton, DC 20005.
ing until Illch plan is e tab­
lished. But remember this:
Financial plannina . not dif­
ficult u long you to
certain fundamentals
time and con' tency
advantage.
The fundamentals e ey.
Financial institutions . d fin­
ancial advi rs in this country,
I believe, have deliberately made
financial m tters ppear com­
plicated and above the under­
standin of the verage person.
However, I want you to note
this and never forget it: "As
long you are an adult of at
le average intelligence, there
is no fmancial m tter, issue or
plan which you cannot under­
stand. All you need is the in­
formation. "
Third, I want you to buy
notebook and u it to keep
tr ck of every penny you
spend for one month. This
action i encouraged becau it
is truly amazing that the va
majority of us do not know
exactly ho our money h
been spent.
Keeping tr of every ex-
penditure (no matter ho
small} for one month will help
you spot w te, potential v-
in and you will learn lot
about your If.
Fourth, I want you to
establish a "common sen "
financial plan in which enable
you to ve at le 10% of
everything you earn. Go abe d.
Force yourself to do it.
There i a lot more to de­
veloping a financial plan th t
simply learning to ve more
of your income. Thus you
ould also nd for an excellent
booklet: "The Common Sen e
Financial Independence Plan "
S9.95) from Potom c A
ates, 1377 K Street ,
98, ashington, DC 20005.
Thi booklet comes with a
money b ck guarantee. It ill
help ju about anyone estab­
li a financial plan.
Finally: Even if you don't
t e my advice, DO SO E­
TH G.
Doing nothin guarantee
that you ill retire in poverty.
11
p
IVATE I
COU
y
•
B rrlln, Cass, VI Bur
DUST
C
Slrvl", B rl n, CI Ind Vln Burin Countl. S
Innouncls thl IVlllablllty of
REQUEST FOR PROPOS LS
FOR
SUMMER YOUTH EMPLOYMENT AND
TRAINING PROGRAM
S April 1, 1987
RFPt.A'faiIab at th
Bent Harbor Area Cent r
00 ember 3, 1986
Propo r must submit a Letter of Intent
Propo Due 0 Later Than 5:00 p.m.
December 22, 1986
Pre-Proposal Conference: ovember 12, 1986
at 9:30 .m.
Benton Harbor Ar Cen er
655 • err· Dri,ve, P.O. Box 247
Benton or,· chi n 49022
PJC rlserves the r ht to r act Iny or III propoSils
EEO
Fo Information CaD
Selene Ander n, Planning and Program Coordinator
(616) 927-1064