black economic history

This 101-year old man gives the best financial advice you’ve ever heard

This 101-year old man gives the best financial advice you’ve ever heard

This man (Fountain Hughes) is a 101-year old former slave who gives some of the best financial advice you’ve heard in a long time.  During this stunning conversation, he speaks about paying for things with cash and avoiding credit.  He says that if he wanted anything, he waited and bought it with cash.  He fully explains something that many black people are still learning:  That being deep in debt is a form of economic slavery.

Many of us can learn from our ancestors when it comes to understanding how to get by with very little.  Even after slavery, there was a substantial component of our community that believed in the importance of black people supporting one another economically, being financially responsible, and investing for the future.  It might be time for us to re-embrace these values and leave behind the temptation to follow the trends that exist all around us.

This video is something that we should listen to in order to reclaim who we really are.  Black people are meant to prosper economically, not to struggle along at the edge of financial oblivion.  It’s all about being committed to economic intelligence.

His advice may be old, but it’s authentic.

Our elders might be the ones who can guide us to a better future.

Perhaps it’s time for us to start listening, or continue to struggle as a collective.

The future is up to us.

The video is here:

black economic history

FJT aims to be the information hub that empowers Black wealth creation. We are behind FJT's fresh & insightful content that helps you think, learn, laugh, and move towards action to create a stronger Black community.

More in black economic history

Dr Boyce Watkins: How to build wealth by investing just $5 a day

FJT StaffJune 6, 2017

Cathy Harris: Why Black People Should Not Get Involved With Network and Multi-Level Marketing

yolandaMay 15, 2017

Dr Boyce Watkins: The six things your kids need to know in order to be supremely well-educated

FJT StaffApril 29, 2017

Dr Boyce Watkins: Here’s the #1 cure for racism on the job

FJT StaffApril 1, 2017

Dr Boyce Watkins: Black Wealth building is the new civil rights movement

FJT StaffFebruary 21, 2017

Dr Boyce Watkins: Yes, I was banned from Facebook. Here’s what happened

FJT StaffJanuary 6, 2017