‘Living in the Village’
Author: Ryan C. Mack
You’ve learned your lesson.
In the past four years, you’ve learned that you can’t spend frivolously. You can’t use credit unwisely, there’s no “wiggle room” on bill-paying, and the only way to face your future is to put money back into your own pocket with savings and investments.
Easier said than done? Not really, according to author Ryan C. Mack. In his book “Living in the Village” (c.2010, St. Martin’s Griffin, $14.99 / $16.99 Canada, 302 pages, includes worksheets) he explains how money can work for you and for your community.
So you’ve come through the Great Recession and you’re rebuilding your financial life, but you’ve come to realize that you want to do more with what you’ve got. Mack says that there’s no time like the present to educate yourself about managing the money you earn.
To begin, track your spending and see where your money goes. Be truthful with yourself when looking at your spending habits, then learn how to make a budget you can stick with. It helps to set goals and to understand how millionaires shop. Learn the pitfalls of spending, why you shouldn’t use an ATM, and why those rent-to-own places will put a serious hole in your wallet.
Become knowledgeable about insurance, and make sure you have enough of the right kind. This should lead you into planning an estate for those you leave behind someday—including family members, charities, and any pay-it-forward groups you want to bequeath.
Though you shouldn’t be using credit cards indiscriminately, the wise use of credit is important for your financial future. Your FICO is key, and Mack explains how you can raise that number. He also explains how to get rid of high-risk debt by negotiating with creditors and knowing your rights.
Boost your workplace retirement fund, then set up an IRA for your retirement. Get rid of low-risk debt, and learn the smart way to purchase a car or house. Select the right advisor, someone who shares your vision for your future. Learn how to invest your money for the best return. Give yourself a good emergency fund for just-in-case situations.
Tired of being broke, or close to it? “Living in the Village” can set you on a path away from poverty, but—as you’ve probably guessed—it won’t be easy.
Author and financial expert Ryan C. Mack writes with clarity and his step-by-step explanations are doable for anyone who wants to get their house in order, money-wise. He’s thorough, too, and covers all bases in this book, although that may be overwhelming for anyone who’s starting from financial scratch.
Still, Mack does some hand-holding and offers enough personal support to keep his readers from becoming discouraged. It’s also helpful that he targets specific groups (religious leaders, parents, the formerly incarcerated, and so on) with specialized tips most useful for them.
Overall, if you’re ready to put your money where your future is, or if you want to set a good example for your children, “Living in the Village” may inspire you. Then get ready to be prosperous. Haven’t you earned that?
There they go again. Don’t they know any better?
African Americans continue to be battered worse than any other minority group by the nation’s three-year-long, and-counting, economic crisis. In both stand-alone and comparative terms, from the top to the bottom of the socioeconomic ladder, they’ve suffered a severe loss of the little wealth they possessed, and have almost no protection against a future economic shock.
Nowadays, in this Information Age, the age of the microwave, of “I want it now,” we forget of our ancestors—the farmers and ranchers who knew “The Secret"—who knew you had to plant the seed, water it, weed it, and nurture it for years before you reaped a bountiful harvest. It’s called hard work.
We may be more interested in the “get-rich-quick” schemes that look so sexy, but building wealth is not sexy. It is very simple and easy.
You stayed home last Saturday night.
The Saturday before, you went club-hopping with your girls. And the Saturday before that, you saw a movie with your mama.
It’s not that you don’t want to date. No, the truth is that statistics don’t lie: there’s a shortage of Black men, and since you’re “holding out” for one, you stay home a lot.
What else can you do?
Tavis Smiley and Cornel West, Ph.D., deserve high props for their summer poverty tour. They started on an Indian reservation, hit the inner city, and looked at poverty in all of its manifestations. While many dismissed their high-profile tour as a political ploy, I am absolutely convinced of their sincerity.
In addition, these two men are among the few who have dared utter the “p” word in public.
Who is your favorite superhero?
Does he wear a cape and fly through the air? Or does he have sharp knives instead of claws so he can really mess up the bad guys? Does your superhero run fast, spin webs, jump high, control fire or wind, or is he able to swim through deep oceans with special gills on his neck?
