Posts
Dr. Boyce and S. Tia Brown discuss the woman who puts cheater's face on billboards
Friday, January 29, 2010
Thursday, January 21, 2010
Black News: Jigga and Beyonce Lead the List of Wealthiest Celeb Couples
What makes more than an uber-celebrity who earns millions per movie, album, or TV season? Two uber-celebrities who just happen to be married. Forbes is always giving us a behind-the-scenes peek at famous finances—don't tell us you weren't surprised by the top-earning dead celebrities—and their latest list shows the famous couples who made the most from June 2008 to June 2009. Topping the list—actually, clobbering the list (they made almost twice what the #2 couple grossed)—are Jay-Z andBeyonce. Together, they banked $122 million smackeroos. Interestingly, Beyonce is the one who brought home the most bacon—she earned $87 million to his $35 million. Also notable: While this is a massive amount of money, it's actually much less than these two made last year, when they pulled in $162 million cumulatively.
Wednesday, January 20, 2010
Study Finds Financial Benefits to Marriage
Historically, marriage was the surest route to financial security for women. Nowadays it's men who are increasingly getting the biggest economic boost from tying the knot, according to a new analysis of census data.
The changes, summarized in a Pew Research Center report being released Tuesday, reflect the proliferation of working wives over the past 40 years — a period in which American women outpaced men in both education and earningsgrowth. A larger share of today's men, compared with their 1970 counterparts, are married to women whose education and income exceed their own, and a larger share of women are married to men with less education and income.
"From an economic perspective, these trends have contributed to a gender role reversal in the gains from marriage," wrote the report's authors, Richard Fry and D'Vera Cohn.
Saturday, January 16, 2010
Wyclef’s Charity Under Questioning
Haiti's musician Wyclef Jean, left, arrives at the airport in Port-au-Prince on Wednesday, Jan. 13, 2010, the day after a 7.0-magnitude earthquake hit his country. (AP Photo/Lynne Sladky)
(AP)
Groups that vet charities are raising doubts about the organization backed by Haitian-born rapper Wyclef Jean, questioning its accounting practices and ability to function in earthquake-hit Haiti.
Even as more than $2 million poured into The Wyclef Jean Foundation Inc. via text message after just two days, experts questioned how much of the money would help those in need.
"It's questionable. There's no way to get around that," said Art Taylor, president and chief executive of the Better Business Bureau's Wise Giving Alliance, based in Arlington, Va.
Taylor reviewed Internal Revenue Service tax returns for the organization also known as Yele Haiti Foundation from 2005 through 2007. He said the first red flag of poor accounting practices was that three years of returns were filed on the same day — Aug. 10 of last year.
In 2007, the foundation's spending exceeded its revenues by $411,000. It brought in just $79,000 that year.
click to read.Tuesday, January 12, 2010
Can you Choose to be Happy?
| The following is an excerpt from the book, “The Millionaire Mentor” by Dr. Towanna Freeman Happiness is a Choice You Make |
| If you are not a happy person that is a choice you are making. You have full control over your life and the decisions that you make. There are many factors which people measure happiness. Some people think money is happiness however they may absolutely miserable with what they do on a daily basis to make their money. |
| You might look at people who have absolutely everything and you strive to be like them. These things may be wealth, possessions, status, or even the position you hold at work. These things don’t create happiness. Happiness is a choice. |
| There are many people who have wealth and a high status who are completely miserable. They may be lonely, divorced and more. Happiness comes from within. These people may be working jobs they absolutely hate but just have a knack for making money. |
| Happiness is Subjective |
| There are things in life that can make you happy that are subjective. They are subjective because happiness comes differently for everyone. |
| You might find joy and happiness seeking thrills through rides like roller coasters and bungee jumping. This thrill may be more than torture for someone with a fear of heights who would never step foot on a roller coaster or ever be brave enough to jump from a bridge suspended by a bungee cord. |
| Everyone seeks happiness in their own way. What makes you happy is a natural high that you deserve to seek. There is nothing wrong with the things that you find joy in. You may be told you are crazy but that is because of the subjectivity. |
Saturday, January 9, 2010
Jobs Come and then Go
NEW YORK (CNNMoney.com) -- Employers once again slashed a substantial number jobs off their payrolls in December, according to adisappointing report from the government Friday. But there was a small glimmer of hope as well.
The payroll number for November was revised to a net gain of 4,000 jobs. That's the first increase in jobs in nearly two years. The government had previously indicated that 11,000 jobs were lost in November.
Click to read.Friday, January 8, 2010
Why Black Women Are Not Getting Married
Dr. Boyce Watkins and S. Tia Brown discuss some of the reasons that Black women are deciding not to get married.
Why Black Women Are Not Getting Married
Dr. Boyce Watkins and S. Tia Brown discuss some of the reasons that Black women are deciding not to get married.
Monday, December 21, 2009
The Latest from Dr. Boyce Money – 12/21/09
Dr. Boyce Money
-
How a Happy Meal Can Cost You Half a Million Dollars
Many of us don't spend much time thinking about retirement planning. We figure that it's something ...
-
Sinbad: Comedian Files for Bankruptcy After Going Broke
It turns out that Sinbad is broke. The comedian declared bankruptcy on December 11th of this year, ...
-
Man Gambles Away $127 Million Dollars - Dr. Boyce Money
Terrance Watanabe has a serious problem. The 52-year old man went into Harrah's casino, got drunk ...
-
Gatorade Drops Tiger Woods Drink: Dr. Boyce Money
Gatorade has dropped Tiger Woods, well, at least they dropped his drink. The new Gatorade drink, ...
-
Prosperity Gospel and the Black Church: Legitimate or Not?
Nearly every African American knows just how important the black church is to our community. We ...
-
Inner City Schools: Funding Should be Equal Across the Board
The following is an excerpt from the book, "Black American Money." I saw some random "expert" on a ...
Thursday, December 10, 2009
Dr. Boyce Joins Urban League tonight at 8 pm – You’re invited
Are you ready for some good financial love making?
Urban League Young Professionals of Philadelphia presents
Dr. Boyce Watkins
How are things in your financial bedroom? Have you and your partner merged assets successfully or are you dealing with financial infidelity? Are you suspicious of how the person you’re seeing manages money?
What if you could have a full-proof way to know whether you were financially compatible with someone? Or maybe you’re already married. What if you could improve your communication as it relates to finances?
Finances are the number one cause for divorce in America and in this recession just about everyone’s number 1 source for stress and anxiety. But it doesn't have to be!
Join the Urban League of Philadelphia Young Professionals on Thursday, December 10th at 8p.m. as we host Dr. Boyce Watkins for a FREE teleseminar entitled “Financial Love Making.” Dr. Boyce Watkins is a “financial activist” that appears regularly on CNN, MSNBC, and FOX News. He has a Ph.D in Finance and has been a finance professor for over a decade. He is author of “Financial Love Making: Merging Assets With Your Partner in Ways That Feel Good.”
In this Teleseminar Dr. Watkins will cover topics including:
-
Does size really matter? Meaning the size of your mate’s bank account
-
Getting financially naked with your partner
-
Dealing with financial infidelity
-
The art of financial foreplay
-
Finding a rhythm with your partner for good financial lovemaking
Dr. Watkins has received claim from a wide variety of individuals including scholar Dr. Cornel West, talk show host Wendy Williams, and civil rights activist Jesse Jackson.
The first 100 people to RSVP at www.createyoureconomy.eventbrite.com will receive free access to the Financial Love Making Newsletter (a $19.95 value).
Save yourself time, money, and heart ache by participating in this free teleseminar or your wallet and mate might regret it.
Thursday, December 10th at 8p.m. RSVP at www.createyoureconomy.eventbrite.com and we will send you the dial in information the morning of the call.
Brought to you by the Urban League Young Professionals of Philadelphia, Ascendant Strategy Group (www.ascendantstrategy.net) and UrbanPhilly.com a UCI Group company.
Thursday, December 3, 2009
Sunday, November 29, 2009
Why Are Black People Not Getting Married?
Are the men or the women to blame for the reason that black people are not getting married?
Dr. Boyce: How Does Prosperity Gospel Work Anyway?
by Dr. Boyce Watkins, Syracuse University
Nearly every African American knows just how important the black church is to our community. We also know about "prosperity gospel," the act of preaching about God within the context of wealth building. I admit that this form of faith is a bit odd to me. I am a Finance Professor and I become confused when my pastor talks about money more than I do. The saddest truth is that it's hard to tell the difference between a pastor and a pimp: Most pastors aren't pimps, but any pimp could be a pastor. The same skill set is required in both professions.
My father is a preacher, but he almost never preaches about money. I've never heard him asking for money on the pulpit, or mentioning that giving money to him is one of the keys to gaining access to heaven. But I don't presume that my father is right about all things, and given that I write about money on a regular basis, I have gained an appreciation for what financial resources can do to enhance your life. Also, one must be aware of the pragmatic realities of running a church: You have the building fund, bills to pay every month and any community service initiatives that the church chooses to pursue. The proper use of money can certainly enhance your ability to do God's work.
Friday, November 20, 2009
Dr. Boyce Money: Saving on Funeral Costs
Funerals are never fun. They are emotionally draining and you are forced to endure the shock of knowing that your loved one will never be back in your life. In addition to the emotional devastation, you have to deal with the financial burdens of paying for someone to be buried. We all know that funerals are not free or cheap, and the last place you want to be cheap is when it comes to burying the person you love.
But there are ways you can keep the cost down. They say you can't take the money with you, but someone who doesn't plan for their death may be taking their relatives' money with them to the grave. Here are some ways that you can bury on a budget: giving relatives dignity without creating financial hardship.
There is a funeral cost calculator on FuneralswithLove.com that helps you to figure out how much your funeral might cost and whether or not you're going to be able to pay for it. Effectively, the cost estimator first determines your total resources from prepaid expenses, personal savings/investments, and death benefits. Once you know what is available to you, you have to determine how much you want to spend. Some of us want to go out in style and some of us figure that since we're dead, our relatives should be the ones having all the fun.
Friday, November 6, 2009
Tuesday, October 27, 2009
Mother, Wife and Businesswomen: How do you Balance?
In this episode of Financial Lovemaking, Dr. Boyce and Tia talk with Towanna Freeman, an author, speaker, wife and mother on how to balance love, life, and success.
Thursday, October 22, 2009
Black Entrepreneurship: Towanna Freeman Talks about Being an Entrepreneur
by Dr. Boyce Watkins, AOL Black Voices
An entrepreneur doesn't think like everyone else. She is willing to take chances, disciplined enough to focus on a dream and passionate enough to pursue that dream. Towanna Freeman is in that category. AOL Black Voices had the chance to catch up with Towanna, to get some advice on striking out on your own, as well as managing a marriage, children and career, all at the same time.
1) What is your name and what do you do?
Have you noticed how so many people seem to be living an unbalanced life or living beneath their full potential? Well, I assist people, particularly women, who are ready to take life changing action to get that sense of balance back along with that greater feeling of fulfillment and happiness. I am also the principal consultant of Towanna Freeman & Associates, a management consulting firm with the primary emphasis on leadership coaching and employee performance improvement; the founder of the Young Women's Empowerment Network a nonprofit organization that produces empowerment workshops, conferences, and other special events for teen girls; and the author of "Purposeful Action, 7 Steps to Fulfillment."
Wednesday, October 21, 2009
Financial Implications of Love: Man Shoots Boy For Having Sex with His Daughter
by Dr. Boyce Watkins, Syracuse University, AOL Black Voices
I have daughters and I love them all. They are all at "that age," between 16 and 20, where they tend to love the boys that you want to beat down the most. Every time I hear them express their undying love for Lil Wayne, I can only think about him having 3 women pregnant at the same time. When I see a Chris Brown poster in their room, I remind them that Chris was accused of having boxing practice on Rihanna's face.
But as a father, you can't protect your daughters from themselves. Some things they have to learn on their own. And if sleeping with a pants-saggin, "purple stuff dranking," gold grill wearing, 10,000 tattoo having buffoon is the way they need to learn their lessons, you just kinda have to deal with it.I empathize with Wade Edwards, the man accused of shooting a boy for sleeping with his step daughter. Wade shot the boy four times, aiming for the "relevant zone" with each bullet. But while I can understand Wade's anger, I do not, for one second, condone his actions.
If the link above doesn’t work, click here.
Financial Lovemaking: Shooting Your Daughter's boyfriend
We all want to protect our kids, but does it make sense that Wade Edwards shot his daughter's boyfriend?
Wednesday, October 14, 2009
Your Health Insurance News – 10/14/09
Health Insurance Companies causing pain for patients: Are insurance companies limiting the options available to your doctor? That may be the case. While our nation is quick to blame physicians for the state of healthcare, the insurance companies may be a more sensible target for our collective frustration.
What is umbrella insurance? - This type of policy protects you from all the things that your standard insurance plan doesn't cover. Everyone should consider getting umbrella insurance.
How do you keep your insurance if you lose your job? - If you don't know the answer to this question, you need to learn about the COBRA laws. COBRA allows you to keep your old health insurance if you lose your job, and as part of the stimulus package, the federal government pays 65% of the cost.
Sunday, October 11, 2009
Financial News: Insurance Costs Overwhelming Many Americans
"The high cost of each premium and the high deductible a person or family must pay per year is my biggest complaint against health insurers."
"For example, I pay around $300 a month for my wife and me for basic coverage, and pay a deductible of $750 each every year, not to mention a co-pay of $15 to $20 at the window."
"My yearly income is around $32,000 a year. Very little is left for goodies. Meanwhile, a doctor takes in $80 to $120 a visit that lasts 15 to 20 minutes. Imagine how much he makes a day, a week, a month, a year. Plenty of goodies here."
Visit Your Black World for Black News!
Friday, October 2, 2009
Consumer Bankruptcies Soar During September
Consumer bankruptcies soared 41% from the previous September and climbed from August, as high unemployment and the housing market crash took their toll, the American Bankruptcy Institute said Friday.
September filings totaled 124,790, the fourth-highest month since the bankruptcy law changed in 2005.
Filings also rose 4% from August, even as recent reports indicated the housing market might be stabilizing and consumer confidence appears to be recovering.
September's filings pushed 2009 consumer bankruptcies to 1.05 million, the highest for the first nine months of a year since 1.35 million in 2005.
The American Bankruptcy Institute said it expects consumer bankruptcies to climb to more than 1.4 million this year.
The U.S. unemployment rate rose to a 26-year high in September at 9.8%, according to government statistics released on Friday.
Thursday, September 24, 2009
Ever Thought Hard about Property Insurance? Well, you need to think again
Most of us know very little about the ins and outs of property insurance. Christopher Chestnut is not in that category. As a prominent attorney out of Florida, Mr. Chestnut has taken on multi-million dollar cases and handled some of the most complex lawsuits imaginable. As one of the leading young black attorneys in America, Chestnut has been recognized by President Obama for his outstanding accomplishments.
I spoke to Chris this week about Property Insurance and what it can do to make your life a little simpler. Here is what he had to say:
1) If you rent, make sure you have renter's insurance. Also, make sure your landlord has homeowner's insurance, since renter's insurance only includes the contents that are INSIDE the house
2) Check your landlord's insurance regarding injuries on your rented property. Most people are unaware of the fact that the homeowner is liable in the event that someone is injured on their property. Even if the children across the street climb the fence to get into your yard, you are liable if one of them gets hurt. Find out how your landlord's homeowner's insurance would cover you if someone has an accident.
Wednesday, September 16, 2009
Health News: A Strong Case for Healthcare Reform: Divorcing to Stay Alive
from The Huffington Post
For Mary McCurnin and husband Ron Bednar, money trouble has followed health trouble. In 2003, the couple declared bankruptcy after their insurance covered only 10 percent of treatment costs for her breast cancer and his intestinal bleeding. In 2004, McCurnin’s breast cancer returned, and Bednar underwent open heart surgery.
Now, after repeatedly refinancing their house to pay medical bills and living expenses, they’re broke. To improve their chances of growing old together, they’ve filed for divorce.
"It occurred to me that I could get my first husband’s Social Security," said McCurnin. Her first husband, to whom she’d been married 20 years, died in 1989. When she turns 60 in November, McCurnin said she will be eligible for $1,200 in monthly survivor’s benefits from the previous marriage. As the Social Security Administration told her, she can’t have the survivor benefit if she’s married to someone else.
Read more at: http://www.huffingtonpost.com/2009/09/16/loving-couple-divorces-to_n_287094.html
September 17, 2009 Posted by Staff | african american health, black healthcare | healthcare reform | No Comments Yet
Thursday, September 3, 2009
The Link Between Sex and Money
by Dr. Boyce Watkins, Syracuse University
I recently appeared on ABC News to talk about Financial Lovemaking, and the link between sex and money. I've discussed relationships and money several times on AOL in the past, but I think that I should quickly lay out some very interesting similarities that may not have crossed your mind. As I teach my Personal Finance Class at Syracuse University this semester, I am reminded that managing our money is linked to managing our love, which is critical to the ultimate goal of effectively managing our lives.
1) Many people think about both sex and money every single day. Don't lie, you know you enjoy thinking about sex, even if you aren't getting any. But chances are, you also think about money, whether it's figuring out how to get what you need or how to keep what you've got. Even most rappers spend all their time talking about either sex, money or how they use their money to get more sex. It's actually a universal concept.
Click to read.Wednesday, February 4, 2009
Wednesday, November 26, 2008
Money Expert Boyce Watkins Tips For Consumer Confidence
Dr. Boyce Watkins
www.Boycewatkins.com
If you wish to see a video explaining consumer confidence, which is one of the driving issues behind the recent moves in the stock market, please click here.
This has been an interesting week, with auto execs showing up on private jets to request a bailout from the government and the Dow moving to below 8,000 points for the first time in 5 years. I still hold to the fact that this is a great time to get into the stock market if one has never done so before, especially if you are under the age of 50. By the way - please visit our sponsor, GreatBlackSpeakers.com if you are interested in hiring a top notch African American speaker or seeking to become one.
Take care!
Boyce Watkins
http://www.blogger.com/www.boycewatkins.com
Click here to join our money advice list.
=====================================================================================
If you listen carefully to the words of Treasury Secretary Henry “Hank” Paulson and Ben “Big Ben” Bernanke (chairman of the Federal Reserve) you might notice a trend in their language. The word “confidence” is used a lot when they speak. Many of their monetary proposals are not necessarily valuable for their financial power, but also for their psychological power.
Some of you may wonder what confidence has to do with anything. After all, if you’re broke, confidence doesn’t exactly put money in your pocket. If you’re 100 pounds overweight, confidence won’t help you win the Olympic 100 meter dash. When you are flying on a crashing plane, confidence doesn’t keep the plane from slamming into the ground. But confidence is important to an economy, and one of the most significant drivers of economic growth. In fact, over confidence has driven US economic growth for the past 10 years. Here are some reasons that confidence matters in the minds of Hank and Big Ben:
1) Confident consumers spend money
If you think you might lose your job next year, are you going to max out your credit cards? I certainly hope not. If you are worried about being able to make ends meet, are you going to buy that big screen TV? Not unless you want your wife to leave you. So, even if it doesn’t hold any truth, the mere forecast of a weak economy is enough to make many Americans hold off on consumer spending, one of the great driving forces of the American financial system.
2) Confident companies invest money and hire workers
Investments involve risk. Your hunch may work out, and it may not. If you don’t believe the economy is getting better, you are not going to consider taking that risk. No one plans to go to the beach if the weather man says that it’s going to rain. When economic rain is in the forecast, companies pull out their umbrellas and hold off on new projects. This reduces the number of jobs in the economy, because nearly every job created in America is the result of someone making an investment.
3) Confident Americans do not take their money out of banks
In case you didn’t know, your bank does not have your money. Your money is part of a large base of financial capital that is loaned out to individuals and consumers seeking to get a good return on their investment. So, without investing, your bank would have no interest in paying you any interest at all. So if, say, 30% of all customers of the same bank decide to get their money out at the same time, the bank would have serious financial problems. It is a lack of confidence that could cause customers to “run” on their bank and take out their money.
4) Confident investors keep their money in the stock market
The stock market is a place where fortunes are made and lost. Some part of that fortune is psychological, given that no asset can have a value which exceeds that which someone is willing to pay for it. When investors lose confidence, they take their money out of the stock market, and reductions in demand for stocks lead to massive paper losses in the market. Additionally, most Americans are “momentum traders”, meaning that when the market goes up, they tend to buy more, and when it goes down, they tend to sell. History shows that it is actually the opposite approach that tends to work best.
5) Confident banks make loans
Banks have to keep a certain portion of their funds on hand at all times to meet federal requirements. If they are fearful that their customers might come and demand their cash, they hold onto their capital to ensure that it is available. If they are afraid that their borrowing customers will not be able to repay loans due to a weak economy, they also hold back on issuing new loans. The truth is that when economic forecasts are grim, conservative bankers become even more fearful than the rest of us.
The bottom line of this article is that confidence matters. So, the next time you hear Ben Bernanke give a speech, you can be confident that he is going to use language that makes you feel more secure. Whether you choose to believe those words is up to you.
Dr. Boyce Watkins is a Finance Professor at Syracuse University. He does regular commentary in national media, including CNN, BET, ESPN and CBS. For more information, please visit http://www.blogger.com/www.boycewatkins.com. To join our money list, please click here.
Thursday, November 20, 2008
Wednesday, November 19, 2008
Tuesday, November 18, 2008
Confidence: Boyce Watkins Tells Why the Government Wants You To Have It!
by Dr. Boyce Watkins
http://www.boycewatkins.com/
If you listen carefully to the words of Treasury Secretary Henry “Hank” Paulson and Ben “Big Ben” Bernanke (chairman of the Federal Reserve) you might notice a trend in their language. The word “confidence” is used a lot when they speak. Many of their monetary proposals are not necessarily valuable for their financial power, but also for their psychological power.
Some of you may wonder what confidence has to do with anything. After all, if you’re broke, confidence doesn’t exactly put money in your pocket. If you’re 100 pounds overweight, confidence won’t help you win the Olympic 100 meter dash. When you are flying on a crashing plane, confidence doesn’t keep the plane from slamming into the ground. But confidence is important to an economy, and one of the most significant drivers of economic growth. In fact, over confidence has driven US economic growth for the past 10 years. Here are some reasons that confidence matters in the minds of Hank and Big Ben:
1) Confident consumers spend money
If you think you might lose your job next year, are you going to max out your credit cards? I certainly hope not. If you are worried about being able to make ends meet, are you going to buy that big screen TV? Not unless you want your wife to leave you. So, even if it doesn’t hold any truth, the mere forecast of a weak economy is enough to make many Americans hold off on consumer spending, one of the great driving forces of the American financial system.
2) Confident companies invest money and hire workers
Investments involve risk. Your hunch may work out, and it may not. If you don’t believe the economy is getting better, you are not going to consider taking that risk. No one plans to go to the beach if the weather man says that it’s going to rain. When economic rain is in the forecast, companies pull out their umbrellas and hold off on new projects. This reduces the number of jobs in the economy, because nearly every job created in America is the result of someone making an investment.
3) Confident Americans do not take their money out of banks
In case you didn’t know, your bank does not have your money. Your money is part of a large base of financial capital that is loaned out to individuals and consumers seeking to get a good return on their investment. So, without investing, your bank would have no interest in paying you any interest at all. So if, say, 30% of all customers of the same bank decide to get their money out at the same time, the bank would have serious financial problems. It is a lack of confidence that could cause customers to “run” on their bank and take out their money.
4) Confident investors keep their money in the stock market
The stock market is a place where fortunes are made and lost. Some part of that fortune is psychological, given that no asset can have a value which exceeds that which someone is willing to pay for it. When investors lose confidence, they take their money out of the stock market, and reductions in demand for stocks lead to massive paper losses in the market. Additionally, most Americans are “momentum traders”, meaning that when the market goes up, they tend to buy more, and when it goes down, they tend to sell. History shows that it is actually the opposite approach that tends to work best.
5) Confident banks make loans
Banks have to keep a certain portion of their funds on hand at all times to meet federal requirements. If they are fearful that their customers might come and demand their cash, they hold onto their capital to ensure that it is available. If they are afraid that their borrowing customers will not be able to repay loans due to a weak economy, they also hold back on issuing new loans. The truth is that when economic forecasts are grim, conservative bankers become even more fearful than the rest of us.
The bottom line of this article is that confidence matters. So, the next time you hear Ben Bernanke give a speech, you can be confident that he is going to use language that makes you feel more secure. Whether you choose to believe those words is up to you.
Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of “Financial Lovemaking 101: Merging Assets with Your Partner in Ways that Feel Good”. For more information, please visit http://boycewatikns.com/
Subscribe to:
Posts (Atom)