He who knows how to be poor knows everything.
Michelet, French historian
Michelet, French historian
My beginnings as a ‘poor black child’
provided me a few insights about all things financial. Watching my mother and
grandparents constantly trying to ‘make ends meet’ was a tricky as well as
tedious process. But they did it— we were sheltered, fed and clothed. For them
money wasn’t just about the dollar bills. There were many non-monetary ways
that helped our family survive.
Connecting with neighbors to borrow and
lend were well used methods that mattered. “Can I get $5 from you until I get
paid?” was a question that could come from anyone. There was no ATM; instead it
was ‘ANM - Ain’t No Money.’ Checks floated and crashed. Reserve funds were
limited to quarters tied up in a handkerchief that the adults pulled out as a
last resort. I watched my family share resources such as food or household
items with others in need even when we didn’t have much—literally ‘counting
pennies’, or measuring cups of sugar.
As kids, when we went to the local
store, we learned how to bargain with each other or make loans when someone
else didn’t have enough for their treat. Sometimes we were
entrepreneurial—collecting soda bottles to turn in for money. A nickel could
buy you a soda or candy bar back then.
If you had a quarter, you felt your ‘ship had come in’!
My mother and grandmother sold boxes
or tins of candy and at times used the ‘green stamp’ exchange to acquire funds
or household items. Lay-a-way programs with the local merchants gave my mother
and grandparents a way to purchase needed clothing or household items over a
period of time. This was their planning method, requiring them to look ahead
for our needs. Stewardship in church, whether it was putting a nickel in our
offering envelope or helping count money from the collection plate, was
emphasized as a way of giving to the Lord.
These experiences provided a mindset for elements of my financial
strategy: Share, improvise, prioritize, identify resources and plan when you
can.
When I worked for fifty cents an
hour at my first job at the Waverly Diner, I used my $20 dollar a week salary
to buy my school clothes and share some of the money with my family. The next summer I got a raise to sixty cents
an hour because I moved up from dishwashing to grill cooking. Boy was I
excited. A 20% salary increase! Financially,
my attendance at William and Mary was made possible through the existence of
educational grants, academic scholarships and national defense student loans
that were available as part of a federal education thrust for minorities in the
early 1970s. Yes, government handouts got me through college with the funds for
tuition, room and board. It was definitely advantageous for me to be poor,
black and smart.
A part-time job at the college post
office provided through a work-study program helped me pay for other
educational and personal survival expenses.
Mirroring what I’d seen in our
household growing up, I willingly worked hard, used available resources and shared.
During the summers between my years
in college I worked at the chemical factory with my mother. This was definitely
a better opportunity for making money to keep my school needs met and still
help my family. That foundation of principles and skills to use in other
monetary situations that I’d learned in my youth continued to build. Sacrifice
and don’t hoard.
But
as the years went by I also started the gaining and losing cycle of dealing
with money. Even still I went
back to school, realizing another degree would help in my career and business
pursuits. I decided to use my MasterCard over a two-year period to finance this
master’s program. I was also able to secure a part-time job on the campus. Win-learn!
Once my training/consultants projects stabilized and rewards were reaped, I was
able to pay off my credit cards. “Money spent on the brain is never spent in
vain,” according to an English proverb.
In continuing to watch my own and
others’ financial issues through the years, I’ve come to several conclusions.
We can’t separate ourselves from living life by building our personal Fort
Knox. Yes, in looking out for our financial future, saving and finding ways to
create wealth is important. However, ‘tomorrow isn’t promised’ so enjoy what
you can for today and splurge a little. Earn money while reaping joy and making
memories too.
Share, improvise, prioritize, identify resources and plan
when you can.
Excerpted from my motivational autobiography, Navigating Life’s Roadways: Stories of Insight from My Odyssey and Inspiration for Your Journey in print and Kindle eBookhttp://www.amazon.com/dp/B008FQDPYE
Excerpted from my motivational autobiography, Navigating Life’s Roadways: Stories of Insight from My Odyssey and Inspiration for Your Journey in print and Kindle eBookhttp://www.amazon.com/dp/B008FQDPYE
