Black Money Matters

Protect Your Good Name...and Credit

Written by Administrator
I am sure we have all seen those Citibank commercials where the big heavyset middle-aged man takes on the voice of a valley-girl teenager. Or perhaps the one where an elderly lady take on the voice of a husky-voiced man. The commercials center around identity theft and it’s a problem that consumers and even credit card companies want to help curb, as it is costing the industry and individuals millions of dollars to rectify. The U.S. Department of Justice posted the following on their website, The Federal Trade Commission advises: “While you probably can’t prevent identity theft entirely, you can minimize your risk. By managing your personal information wisely, cautiously and with an awareness of the issue, you can help guard against identity theft.” Source: FTC Brochure - ID Theft: When Bad Things Happen To Your Good Name Traditionally, in the Black community, the mindset has been, "I have nothing to take". So because there seems to be a more laid-back (than in other communities) attitude, the concern has not been as high. But what happens when you are denied insurance or medical care because someone has hijacked your identity?
Read more...

Are You Financially Compatible Enough to Marry?

Written by Meredith H. Kaiser

Women, in addition to spending hours poring over encyclopedic bridal magazines, I wish you would spend that same amount of time with your future spouse talking over these important points before you decide if you two should get married at all. In twenty years, the veil you selected will not come up in a fight with your true love, but the checking account surely will.

Here are some decisions to make before you decide if you will marry this person. It all comes down to priorities and expectations. Even if you don’t share the exact same priorities, if you have openly discussed them with each other, then you can manage the expectations each of your have for the marriage.

Joint Bank Accounts: I have heard many opinions on this question. The most important thing is to talk about it and make a conscious decision about it. My husband and I share all accounts and financial information with each other. I think this helps us work as a team as we save for the future and even as we buy groceries for this week. We remain accountable to each other at all times which can cause some tough conversations but serves us well in the end. I think that some couples who keep separate money just don’t want to have the discussions it would take to make joint decisions. If you don’t go deeply into these issues, you don’t allow each other to have input into, much less buy in to, the life goals that you need to share in order to move effectively toward them.