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Though this is my first post I have an opinion
..."The Target Market News reported that Black buying power increased to $392 BILLION in 1997, up from $367 billion in 1996.
The report revealed the our biggest advances were in the area of personal care items and online services. In fact, Ken Smikle, spokesperson for Target Market News, stated, “There frankly are signs of splurging, spending on items for individual gratification......”
For far to long the research has consistently revealed that we are a consumer oriented culture. Living in New York, I see signs of this all the time. In the city the housing projects which are primarily occupied by african american and hispanics are those in which you see satellites, SUVs, "label worship" and other signs of reckless spending. Now thats not to say that an individual should not buy themselves some nice things, but if one lives in a condition below poverty level (a prerequiste for occupation in a housing project) that is not an option. ECONOMIC EDUCATION is imperative.
I would offer a program directed to the heads of households to help them plan their spending and I would target their children to teach them about finances at their level. I would make sure to cover the basics, family finances, investing and retirement plans. I would like to see levels to the education and later mentoring of new students by successfull former students to model the behavior.
Thank you for the opportunity to share my opinion!
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