"At first I hardly recognized it. It didn't look like much. I stopped and picked it up and examined it. It was a gnarled coin. It looked like it had been run over many times. The edges were jagged. I could barely make out the face of Lincoln. One old, beat up penny. I was out for a walk in the neighborhood. On these walks I occasionally find a little money. Never very much: a penny here, a nickel there. But I always stop and pick it up, then toss it in a jar where I keep change." That excerpt is from Glenn Dromgoole's book, "The Power of a Penny".
How many of you have gone to a store, paid for your items and told the cashier to keep the change? Do you pass up FREE money on the ground if it is not a nickel, dime, quarter or dollar bill? If so why? I truly believe that many people do not value the penny. It is seen as worthless, however pennies add up. If there were five pennies on the ground, would you pick it up? If not, would you pick up a nickel? Both equate to the same amount and spend and save the same way.
I vividly remember, years ago while a student at Howard, sitting in the car at a drive thru window and an old friend throwing 4 pennies out of the window after the employee handed him his change. After questioning his actions, he told me, "They are just pennies". At that point I knew that we were not financially yoked, and that although this old friend wanted to make a lot of money, he did not see the current value in what he had now. My mother taught me at a very young age to learn how to count my money, save my money, and when I find money to pick it up because it is a Blessing. If you want to make money and grow your money, I believe that you have to value what you have and what is around you. No form of currency should be beneath you because at the end of the day it holds value.
I believe that words have POWER, so I have a daily affirmation that I recite about money and I will testify that I find money EVERYWHERE. I have a special savings account where I store my change and it continues to grow.
Next time you see a penny, pick it up and throw it into a savings account. Trust me, you will not regret it.
Daily Affirmation: I am a Money Magnet, I attract ALL Blessings! #BuildingGenerationalWealth
Peace, Love & Blessings,
Aminata B. Sow
Thursday, March 31, 2016
Monday, March 14, 2016
Initiating the Conversation about Money (Building Generational Wealth)
In the words of the O'Jays hit For the Love of Money, "Money money money money money". We sing about it, we rap about it, we worry about it, we work long hours to make it, we lose sleep over it and we will cry over it. We can talk about money ALL day long, but how many of us actually have constructive conversations about saving money to build Generational Wealth, or have conversations about investing with a group of friends?
I know what some of you may be thinking, "no one ever taught me how to save because it was not discussed in my home" or "I know the importance of saving, but I plan to do it later when I get married and start a family". I find that many Black (African, Black American, Caribbean) homes do not discuss the importance of saving and investing money, because survival of how to get money to pay this bill, or pay that mortgage consumes a lot of energy. Lack of knowledge around the topic of money has also kept us from having the conversations. Although this may, or may not be true for some, we as a community need to be in a position where talking about money is not taboo, and share and educate others on how to save and invest.
The best way to overcome the fear or taboo regarding conversations about money is to ask questions, start conducting research about the basics of saving and investing, start initiating the conversations among family, friends and co-workers, and lead by example by actually saving and investing! You can start off small by saving $5 a week, or sacrifice eating out everyday and save $30 a week. Building Generational Wealth, takes time, however, you HAVE to START somewhere. Money was not discussed in my home often, so I want to educate myself, my family, my friends, my peers and my future offspring.
One of the methods that I use for saving is the "52 Week Money Challenge". This is my second time utilizing the method, and have altered the challenge by saving $60 every week. I make my deposits every Monday and also deposit change that I find on the ground into the account. Whether you decide to lead by example, or initiate the conversation, don't think about the process too much; JUST DO IT!
Peace, Love & Blessings,
Aminata B. Sow
I know what some of you may be thinking, "no one ever taught me how to save because it was not discussed in my home" or "I know the importance of saving, but I plan to do it later when I get married and start a family". I find that many Black (African, Black American, Caribbean) homes do not discuss the importance of saving and investing money, because survival of how to get money to pay this bill, or pay that mortgage consumes a lot of energy. Lack of knowledge around the topic of money has also kept us from having the conversations. Although this may, or may not be true for some, we as a community need to be in a position where talking about money is not taboo, and share and educate others on how to save and invest.
The best way to overcome the fear or taboo regarding conversations about money is to ask questions, start conducting research about the basics of saving and investing, start initiating the conversations among family, friends and co-workers, and lead by example by actually saving and investing! You can start off small by saving $5 a week, or sacrifice eating out everyday and save $30 a week. Building Generational Wealth, takes time, however, you HAVE to START somewhere. Money was not discussed in my home often, so I want to educate myself, my family, my friends, my peers and my future offspring.
One of the methods that I use for saving is the "52 Week Money Challenge". This is my second time utilizing the method, and have altered the challenge by saving $60 every week. I make my deposits every Monday and also deposit change that I find on the ground into the account. Whether you decide to lead by example, or initiate the conversation, don't think about the process too much; JUST DO IT!
Peace, Love & Blessings,
Aminata B. Sow
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