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After centuries of slavery, black people must realize that they need to work toward building generational wealth and learn to invest their money and establish Trust funds for their wealth that can be passed down to future generations.Generally speaking, Black people are still living for the moment with a “to hell with the future” mindset when it comes to money.White Expenditures – Demographic Data on the Black Population According to Forbes magazine, Floyd Mayweather, Jr., made more than 0 million in 2015. If you want to educate yourself and others about how to earn and spend your money responsibly, read the book, , by James Clingman. He’s also the founder of the Greater Cincinnati African American Chamber of Commerce and the nation’s most prolific writer on economic empowerment for Black people. is available through the website Amazon Kindle e-Books.There is a great organization called World of Money. Johnson – Publisher, Black Men In Updated December 25, 2017 (Originally posted on November 5, 2010).How black people spend their money has been a hotly debated topic not only on this site, but in our office, at social events and in beauty and barber shops across America.
“These latest shifts in spending habits are vital for marketers to understand,” said Ken Smikle, president of Target Market News and editor of the report, “because they represent both opportunities and challenges in the competition for the billions of dollars spent by African-American households.This increase meant that many household items showed big gains.