Black (Wealth!) Friday
"In the Black" refers to a company's profitability-- as opposed to 'in the red,' a phrase that comes from the former practice of accountants recording losses or debts in red ink, around the turn of the 20th century.
Today, Black Friday is when many retailers are 'in the Black' for the first time this year, because of holiday spending.
A financial advisor named George Acheampong and his organization Melanin Money, came up with a fun concept: what if we make the most active spending day, into a day at puts at least some intention on wealth creation? If every Black consumer earmarked 10% of the money spend on retail purchases, and instead put that into investing, the result could help move our country toward racial wealth parity. MultiGenerational.Black doesn't have any affiliation with Melanin Money, but a good idea is worth spreading. And we can't resist talking about a holiday that has Black in the name...
So, what do you think? Are you taking advantage of any Black Friday deals? Might you consider putting aside some of that money to invest instead? Maybe just $50? Let me know your thoughts in the comments! And as always, thanks for reading this.
Step 1 in The MGB Investing Starter Kit Process is HERE.
Step 2 is HERE.
Step 3 is HERE.
What is Money? is HERE
What is Investing? is HERE
What is The MGB Investing Starter Kit? is HERE
Image: Finance Fridays