Listen To The Full Interview:
Tamika Stembridge, Esq. is the Executive Director of the dfree® Global Foundation and a recent guest on the Midday Money Show.
So what is dfree®? Check them out here.
There are cultural experiences that make African-Americans – as a group – prone to poor fiscal habits, dismal results related to wealth building, and limited personal financial success overall. Dave Ramsey has a catch phrase that suggests we take financial advice from the life of our grandparents. For an overwhelming number of African-Americans, we’re doing just that.
That’s part of the problem.
I don’t like to use this excuse, but many of us are still struggling with vestiges of that horrible part of our country’s history. Slavery, institutional oppression, and a billion dollar marketing industry have stacked the deck against us – financially speaking.
The good news is – today, we have options. We can continue to choose a life of conspicuous consumption to the detriment of our current and future lives. Or. We can choose true freedom.
Why do we voluntarily exchange the physical bonds of slavery and second class citizenry for the invisible, yet all to real bonds of servitude through debt?
Debt is an equal opportunity menace to society. You don’t need a lineage checkered in chattel slavery to be seduced by the false promises of status that living beyond your means offers. However, if you are African-American, you are likely operating from a financial literacy deficit already.
It’s beyond time to break those chains. We can do this, but it’s helpful to know what you’re up against.
This was such a great talk with someone who’s in the trenches. Break up with a life of debt and achieve true freedom. After all, if you’re a believe in Christ and are Heaven bound, you’re already free indeed.
Let’s walk that truth out – on this side of eternity.
What hand-me-down financial habits do you need to overcome on your road to debt freedom? Leave a comment on the new Midday Money Show voicemail. Call: (773) 893-0241
We talked about…
- The growth of dfree® since it began in 2005.
- The financial state of dfree®’s target audience.
- Pastor Soaries’ article on being Black and Broke.
- How social media plays a huge role in our financial decisions.
- Why black people have higher incidents of credit card abuse and misuse.
“Any debt that you have is intended to be paid off. It’s not intended to be a part of your life forever.” ~Tamika Stembridge, Esq.
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