Money/EconomicsWealth Gap

How Do Black People Spend Their Money? (The Racial Wealth Gap)

Black Men In America.comBy 26193275 views
26
Couple counting money --- Image by © Jose Luis Pelaez Inc/Blend Image/Blend Images/Corbis

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.  This article has been the most read and commented article for 15 years running.  Once I learned that this was the most popular and discussed article on the website, I decided to do some research and share this information.

Gary Johnson – Publisher (Black Men In America.com)

House

How Do Black People Spend Their Money?
By Gary A. Johnson – Black Men In America.com
Updated February 4, 2025 (Originally posted on November 5, 2010)

How Black people spend their money has been a topic of discussion in offices, social events, and beauty and barber shops across America. This article has been the most-read and commented-on piece on this site for 15 years. Recognizing its popularity, I’ve updated it to provide valuable insights. Here are some key highlights:

According to the PEW Research Center, Black adults are clear on their financial goals and priorities, with majorities saying being debt-free (67%) and having enough money to do the things they want to do (65%) are essential to their personal definition of financial success.

Roughly half say the same about owning a home (49%), while about four-in-ten say this about being able to pass down financial assets (44%) and having multiple streams of income (43%). Smaller shares say being able to retire early (35%) or owning a business (22%) are essential in defining financial success.

PEW also reports that most Black adults rate their personal financial situation negatively (64%). More than half experience at least one economic worry every day or almost every day (55%), and roughly three-in-ten (28%) say they wouldn’t be able to cover their expenses for three months if they lost their main source of income.

Black Consumer Spending Trends

According to the 2024 report on 55+ Useful Black Consumer Spending Statistics:

  • African Americans’ purchasing power was estimated at $1.8 trillion in 2024.
  • The median wealth of a Black family is $44,900.
  • Average spending on date preparation: Black women: $107.20 | Black men: $169.20.
  • Black consumer spending grew at 5% per year, outpacing the 3% growth of overall U.S. consumer spending.
  • 59% of Black respondents reported being mistreated in stores.
  • 25% of Black consumers prioritize products reflecting their culture/heritage.
  • Top three purchased categories: Salty snacks, soft drinks, and vegetables/herbs.
  • Blacks and Hispanics outspend Whites by 30% on clothing, cars, and jewelry.
  • Only 33% of Black respondents use mobile banking, and 20% use online banking.
  • Black consumers are willing to shift approximately $260 billion—30% of their current spending—to companies better meeting their needs.

Spending Priorities on Low-Income Black Households

According to the U.S. Bureau of Labor Statistics, the top five spending categories for low-income Black households are:

  1. Housing – 45.5%
  2. Food – 23.5%
  3. Transportation – 11.5%
  4. Healthcare – 4.1%
  5. Entertainment – 3.8%

Black Hair & Beauty Industry

  • The Black hair care industry is valued at $2.51 billion.
  • Black women spend 9 times more on ethnic hair products than non-Black consumers.
  • In 2023, Black consumer spending on beauty products reached $9.4 billion, growing faster than the national average.

Wasteful Black Spending

Highlights from “Big Spenders, Small Investors:  Blacks Have Little to Show for Hard-Earned Dollars”:

  • Black buying power continues to increase.  Blacks consistently outpace the total market population in overall growth, smart phone ownership, television viewing and annual shopping trips.
  • Each year, Blacks spend more than $47 billion on Lincoln automobiles, $3.7 billion on alcohol, $2.5 billion on Toyotas, $2 billion on athletic shoes, and $600 million each year on McDonald’s and other fast foods, according to Target Market News Inc., a Chicago-based marketing research group.
  • The current home ownership rate reveals that 73.5 percent of whites own homes while approximately 43.9 percent of Blacks are homeowners, according to the Harvard Joint Center for Housing Studies State of the Nation report for 2013.
  • Sixty percent of Blacks have less than $50,000 saved in company retirement plans and only 23 percent have more than $100,000.

According to Dr. Boyce Watkins, a Scholar in Residence in Entrepreneurship and Innovation at Syracuse University in New York, also known as “the people’s scholar,” “We don’t use money to invest or produce,” said Watkins. When we get our tax refund, we go straight to the store.”

Here’s something to think about.  According to Tingba Muhammad of the Nation of Islam Research Organization (NOIRG) wasteful Black spending is rooted in slavery. According to their research 42 million Blacks have a spending power amounting to $1.1 trillion, which gives each man, woman, and child an annual spending power of $26,200 dollars.  Blacks spend their money overwhelmingly with white businesses on the following products and services.

  • Tobacco $3.3 billion
  • Whiskey, wine, and beer $3 billion
  • Non-alcoholic $2.8 billion
  • Leisure time spending $3.1 billion
  • Toys, games, and pets $3.5 billion
  • Telephone services $18.6 billion
  • Gifts $10 billion
  • Charitable contributions $17.3 billion
  • Healthcare $23.6 billion

The NOIRG theorizes that when most Blacks emerged from slavery, it frightened the hell out of White people. They knew that money and knowledge in Black hands meant that Blacks would have the power to determine their own destiny apart from White domination and control. The first impulse Blacks had after slavery was to get as far away from whites as possible. They even set up over 60 all-Black towns, in which they managed free of white authority. This trend had to be stopped because with Black independence came the total loss of the labor that whites totally depended on.  This created a tremendous amount of oppression.  Blacks responded to this oppression by becoming fast spenders.

So, today, many Blacks don’t trust banks, or the courts—Blacks “trust” only that which they can hold in their hands at that very moment. As destructive as that behavior is to Black progress is exactly how profitable that behavior is to whites—who will do anything to keep Blacks on that thinking track.

55 percent of Black Americans are unbanked or under-banked meaning they do not have a bank account or the appropriate bank account. (Federal Deposit Corporation Survey)

Another Look at The Spending Habits of Black Americans

Reginald A. Noël wrote “Income and spending patterns among Black households,” Beyond the Numbers: Prices & Spending, vol. 3, no. 24 (U.S. Bureau of Labor Statistics, in November 2014. 

Here are highlights of the spending patterns of low-income versus high-income Black households reported in 2014.  As you read this, ask yourself: How much of this is my experience?  Has anything changed in 10 years?

  • On average, low-income Black households spent $16,627 in total annual expenditures, compared with high-income Black households who spent approximately $50,000 more.
  • Housing was the biggest expenditure for both types of households. For the high-income Black households, housing was 34.2 percent of the total annual expenditure. For the low-income Black households, it was nearly half of the total annual expenditure, at 45.5 percent.
  • Food was another large spending category for both types of households. However, it made up only 12.7 percent of total expenditure for high-income Black households, compared with 23.5 percent for low-income Black households.
  • Transportation and personal insurance and pensions made up only 11.5 percent and 1.9 percent, respectively, of total expenditure for the low-income Black households. However, for the high-income Black households, these shares were 17.1 percent and 15.0 percent, respectively.
  • Cash contributions, such as charitable donations, were a smaller expenditure category in which low and high-income Black households differed. Cash contributions were 2.1 percent for the low-income Black households and 4.6 percent for the high-income Black households.
  • Among the remaining expenditure categories, alcoholic beverages, apparel and services, healthcare, entertainment, personal care, reading, and miscellaneous expenditures, low-income and high-income Black households had similar expenditure shares.
  • Tobacco and smoking supplies were the only expenditure categories in which low-income Black households spent both a higher share and a higher actual dollar outlay than their high-income counterparts. For low-income Black households, tobacco and smoking supplies was 1.5 percent ($248) of their total expenditure but made up only 0.3 percent ($218) of total expenditure for high-income Black households.13lds.htm

Financial Challenges & Racial Wealth Gap

  • 76% of Black consumers live paycheck to paycheck, with 43% struggling to make ends meet and 33% financially comfortable.
  • Racial inequalities in access to credit, discrimination in consumer markets, and systemic barriers restrict Black spending and wealth accumulation.

How Long Does Money Stay in Various Communities?

  • Black community: 6 hours
  • White community: 17 days
  • Jewish community: 20 days
  • Asian community: 30 days

Systemic Barriers to Wealth Building

According to Forbes contributor Brian Thompson, systemic racism is often a contentious topic, but historical data confirms its impact on Black wealth accumulation. Blacks were historically excluded from wealth-building opportunities due to slavery, Jim Crow laws, and government policies such as:

  • The Homestead Act (excluding Black families from land ownership opportunities)
  • The Social Security Act (initially excluded agricultural and domestic workers—majority Black workforce)
  • Redlining and housing discrimination

Wealth Disparities Between Black & White Americans

A study by Credit Suisse and Brandeis University’s Institute on Assets and Social Policy found key differences in wealth-building approaches:

  • Wealthy Black Americans are less likely to invest in stocks and bonds, favoring safer assets like CDs, savings bonds, and life insurance.
  • Black Americans invest more in real estate than Whites—41% of non-primary residence assets versus 22% for Whites.
  • Black business owners reinvest less in their businesses—$68K on average vs. $468K for White business owners.
  • White business owners invest 7 times more in their companies despite equal business ownership rates.

Key Insights on Black Financial Habits

Matthew Corbin’s 5 Reasons Why Black People Struggle Financially:

  1. Spending more money than earned
  2. Lack of support for Black-owned businesses
  3. Insufficient savings
  4. Limited investment knowledge
  5. No clear plans to escape poverty

Building Generational Wealth

According to Kimberly Anderson-Mutch, Black families can secure financial futures by:

  1. Educating children about wealth
  2. Investing in real estate
  3. Starting businesses for legacy wealth
  4. Diversifying income through stock investments
  5. Creating estate plans for wealth transfer

Spending Habits of Affluent Black Americans

A Merrill Lynch study on affluent Black households ($125K+ annual income) found:

  • Higher prioritization of family support, debt elimination, and retirement planning
  • Five times more likely to financially support parents than other affluent groups
  • Greater focus on entrepreneurship and unique career paths

The Black Community, Money and the Church

You can’t talk about money in the Black community without talking about the church.  The loyalty Blacks have to their church also has proven costly, said officials at Faith Communities Today, a nonprofit based in Hartford, Conn.  A 2013 study revealed that Black churches have collected more than $420 billion in tithes and donations nationwide since 1980, an average of $252 million a week.

“What people fail to see and understand is that the church pastors aren’t waiting for miracles to fund their lifestyles, they don’t have to pray, day in and day out, to make their ends meet,” said Northwest resident and author, Byron Woulard.  They are getting rich off God, not from God,” he said. Woulard, whose books include, the 2011, “Pawn Queen,” noted that the money spent tithing could buy as many as 93,333 homes valued at $150,000; pay for tuition up to $15,000 a year for 933,333 college students and feed every homeless American for a year.  “It’s the best hustle on the planet. If you don’t get it here on earth, you’ll get it when you die and go to heaven,” Woulard said. “And it just so happens that not one person in the history of this planet has died, went to heaven, and come back to tell everyone that it’s true.”

Historical Perspective: Black Consumer Power

For a historical look at Black consumer influence, watch the 1954 film The Secret of Selling the Negro Market, created to educate white advertisers on Black purchasing power.

Another great resource is Diallo Hall’s article, How Black/African Americans Pursue—and Define—Success, which explores financial success strategies in the Black community.

Spending Trends Among Affluent Black Americans

A Merrill Lynch study, Diverse Viewpoints: Exploring Wealth in the Black/African American Community, sheds light on the habits of affluent Black Americans (households earning $125,000+ annually). Key findings include:

  • Prioritizing family support, debt elimination, and preparing for retirement
  • Financially supporting parents five times more than other affluent groups
  • A higher likelihood of entrepreneurship and forging unique career paths

The study highlights not only the challenges but also the resilience and strategic planning among this demographic, which has been steadily growing since 2015.

Historical Context: “The Secret of Selling the Negro Market”

For a fascinating look at historical perceptions of Black consumer power, check out the 1954 film The Secret of Selling the Negro Market. Created by Johnson Publishing Company, the film was designed to educate white advertisers about the purchasing power of Black Americans.  This film shows how Black spending habits were viewed decades ago and invites reflection on how far we’ve come—and how far we still have to go.

Final Thoughts

Black consumer spending is shaped by economic conditions, cultural values, and systemic barriers. This ongoing series aims to spark discussion, provide resources, and promote financial empowerment. If you want to educate yourself and others about how to earn and spend your money responsibly, read the book, Black Dollars Matter: Teach Your Dollars How to Make More Sense, by James Clingman.  Clingman is a friend to this site.  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. He can be reached through his website, www.blackonomics.com. 

About The Author


Gary Johnson is the Founder and Publisher of several online platforms, including BlackMenInAmerica.com, BlackBoatingandYachting.com, Justice For Black Farmers and others. He is also the author of 25 Things That Really Matter in Life: A Quick and Comprehensive Guide to Making Your Life Better—Today! and a contributing author to The Black Father Perspective: What We Want America to Know and In Search of Fatherhood – Transcending Boundaries: International Conversations on Fatherhood.

In 2019, Gary introduced his own line of spices under the brand MasterChef Gary’s Premium Organic Seasoning.  In 2023, Gary shifted his focus from training and consulting to public relations and social media. For more information about Gary’s passions and ventures, visit his official website at Gary Johnson Media.

There is a great organization called World of Money.  Founded in 2005, the World of Money is a New York City based 501(c)(3) non-profit organization whose mission is to empower youth through the engaged, local delivery of professional quality financial education. World of Money Founder and CEO, Sabrina Lamb, while attending a financial planning seminar, was inspired by a compelling question. Are children, in the course of their education and upbringing, getting this information on how to manage their financial life? After conducting some research on the subject, Ms. Lamb found that the answer to her question was a resounding “no”. So, after affirming the detrimental effects of this knowledge gap, she set forth to leverage her experience as an entrepreneur and love of working with children to create World of Money.  Click here to visit their website and learn more.

There are already over 35 Black owned banks and credit unions in the United States where you can put your money if you find these type of efforts for financial stability and reinvestment in the black community important.

Check out the list below!

  1. Omega Psi Phi Credit Union – Lawrenceville, Georgia
  2. Phi Beta Sigma Federal Credit Union – Washington, DC
  3. One United Bank – Los Angeles,California
  4. FAMU Federal Credit Union – Tallahassee, Florida
  5. Credit Union of Atlanta – Atlanta, Georgia
  6. North Milwaukee State Bank – Milwaukee, Wisconsin
  7. Seaway Bank – Chicago, Illinois
  8. The Harbor Bank- Baltimore, Maryland
  9. Liberty Bank – New Orleans, Louisiana
  10. United Bank of Philidelphia – Philidelphia, Penn
  11. Alamerica Bank – Birmingham, Alabama
  12. Broadway Federal Bank – Los Angeles, California
  13. Carver State Bank – Savannah, Georgia
  14. Capital City Bank – Atlanta, Georgia
  15. Citizens Trust Bank – Atlanta, Georgia
  16. City National Bank – Newark, New Jersey
  17. Commonwealth National Bank – Mobile, Alabama
  18. Industrial Bank – Washington D.C.
  19. First Tuskegee Bank – Tuskegee, Alabama
  20. Mechanics & Farmers Bank – Durham, North Carolina
  21. First Independence Bank – Detroit, Michigan
  22. First State Bank – Danville, Virginia
  23. Illinois Service Federal – Chicago, Illinois
  24. Unity National Bank – Houston, Texas
  25. Carver Federal Savings Bank – New York, New York
  26. OneUnited Bank – Miami, Florida
  27. OneUnited Bank – Boston, Massachusetts
  28. Tri-State Bank – Memphis, Tennesse
  29. Citizens Bank – Nashville, Tennessee
  30. South Carolina Community Bank – Columbia, South Carolina
  31. Columbia Savings and Loan – Milwaukee, Wisconsin
  32. Liberty Bank – Baton Rouge, Louisiana
  33. Liberty Bank – Kansas City, Missouri
  34. Citizen Trust Bank – Birmingham, Alabama
  35. Liberty Bank – Chicago, Illinois
  36. Liberty Bank – Jackson, Mississippi
  37. Toledo Urban Credit Union – Toledo, Ohio
  38. Hill District Credit Union – Pittsburgh, Pennsylvania

 

Black Men In America.com
Since our launch in 2001, Black Men In America.com has evolved from a news site focusing on black men to a well-rounded social, current events and political website featuring content that people want to share and talk about.  We have thought-provoking content that aims to educate, entertain and inspire our site visitors to become good citizens and role models in their community.  Please do not use this site to post or transmit any unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane or indecent information of any kind, including without limitation any transmissions constituting or encouraging conduct that would constitute a criminal offense, give rise to civil liability or otherwise violate any local, state, national or international law. You alone are responsible for the material you post.

The Thought Brothers Talks Sports and Politics

Previous article

Benavidez Wins Unanimous Decision over Morrell Jr. to Become WBA Light Heavy Weight Champion

Next article

You may also like

26 Comments

  1. […] land, but let’s show them that we’ve kept them in business since the very beginning. It is a known fact that Black Americans spend an estimated of $1.2 TRILLION a year. From June 15th through the 22nd; I propose ALL OF AMERICA, or at the very least my followers and […]

    Reply

  2. […] How Do Black People Spend Their Money? (The Racial Wealth Gap) June 22, 2019 […]

    Reply

  3. […] The Times article attributes this disparity to distrust of the hospice industry. Perhaps there’s some truth to that, but it’s hard ignore the fact that this goes hand in hand with other high time-preference traits found in blacks, such as not investing and higher crime rates. For example: […]

    Reply

  4. […] not sure how up to date the information is on this particular webpage of “Black Men In America,” but what I do know is that there is a lot of content worth taking in consideration. Indeed, […]

    Reply

  5. […] Johnson, G. A. (2018, November 12). Updated report: How do black people spend their money? Retrieved March 12, 2019, from https://blackmeninamerica.com/updated-how-do-black-people-spend-their-money-3/ […]

    Reply

  6. […] building a business or furthering their business (if they had one.) An excellent article from blackmeninamerica.com reveal that studies show Caucasians on average invest 7 times as much into their businesses than […]

    Reply

  7. […] https://blackmeninamerica.com/updated-how-do-black-people-spend-their-money-3/ […]

    Reply

  8. This is what we really need to focus on thanks for the breath of fresh air…

    Reply

  9. […] have great potential to accumulate wealth. And, the first step towards building riches is to save. The annual expenditure of black people is 4 percent greater than any other race despite the fact they have the highest rate of poverty […]

    Reply

  10. Me I am investing in a Black Owned Company Ztegrity the ZBlackcard let me lay it done. White people want to fee you tii death on prepaid card a lot of black people use. Rushcard was suppose to be for the black community. hey Russell Simmons sold it for millions to Green Dot. Finally a prepaid Mastercard or Visa for the people that buy everything. Of course what makes it special NO FEES what makes it more special Reports to the credit Bureau. What makes this card 3 times special you can have a trade line from $1000 to $10000 for a year to build your FICO scores built in just keep paying. And to top it off for $50 a month Drive your Dream Car. Black people support this CEO he doing it out of Houston TX for us. See More at http://zblackcard/getyours. Oh one more thing, the Zblackcard is all Metal just like an American Express Blackcard that you can’t even get. ENJOY BUY BLACK❤

    Reply

  11. OMG, so much information to ponder. Are these statistics correct? I have always been a believer in putting money back into your community and this article solidified my reasoning.

    Reply

  12. This article is truly amazing. It is full of important information and data that should spark African-American “to do for self.” You have gain a new follower. Thanks for all this information!!!

    Reply

  13. Too much damn information. How many people do you think are going to read this? This article, more concisely stated, could be ten times more effective. You make many solid points however, and I suggest that many of our people are crippled by self-hate and dysfunctional families which is where the battle begins. Tteach us to love ourselves and rebuild our families from the damage done by the well-intentioned section 8. Right now single parent families by race are blacks 62%, latinos 34% and whites 22%. It was not always so and up to 1960 something like 92% of white women had been married at least once by the age of 40 with 86% for black women. So start there, teach self-love, bring the family back and teach financial literacy. Earl Graves (Black Enterprise Mag.) is doing some good work. all this tendency to ostentatious living, bling bling and fast cars is born of self-hate and insecurity.

    Reply

    1. Too much damn info? The lazy will fall, the strong will overcome laziness and actually read for more than 30 sec.

      Reply

  14. […] this episode, we tackle some hard truths about the deep divide between spending habits of Black Consumers and the selling habits of Black Business Owners. The video below is a primer to white business […]

    Reply

  15. Most mega churches are owned by white board members who teach them how to pimp their own Black people. This is nothing new, it stated during slavery when the white so- called master taught the slave preacher to teach the slaves to be submissive. and never think of running away. The slave Preacher made sure he taught the slaves to love his master more than he love himself. The Negro Preacher could never preach about independence or freedom because he was too scared to even thinking of being away from his white blue eyed oppressor. Today, the Black church is no better. 99.0% of all Black preachers are scared of the word independence or freedom. They all remind me of Fiddler from Roots. When the brave warrior was trying to teach old Fiddler about freedom he said stop that! I don’t want to know nuttin about freedom! The Black preachers today is the modern day Fiddler. They are too scared to build up wealth for the Black community. Most of them have borrowed so much money from the white man bank he probably owned their church and the Black preacher too. They are afraid to be completely free from their white Lord! I bet most of these big and small churches have their account set up at the white man’s bank. Until these Black preachers get that hump out his back, the white man is going to continue to hell! The brother was talking about the night club taking Black people’s money is different because people are aware that they are going into the Lions Den. However, the church make you believe that you are coming into the house of the Savior to be save but really you are being pimped out of you money in the holy name of the Messiah! The only person who wins in these mega churches are the Black Preacher and the man he owes his mortgage to and that’s his modern day slave master- The white bank!!

    Reply

  16. […] bloggers and commentators have suggested that the $12 billion to $13 billion per year going to black church […]

    Reply

  17. […] bloggers and commentators have suggested that the $12 billion to $13 billion per year going to black church […]

    Reply

  18. HI JONATHAN, GREAT COMMENT, ALL THIS ARTICLE IF FACTUAL , I THINK THERE MUST BE CHANGE AND FOR BLACK FOLKS TO WAKE UP FROM THERE SLEEP. I’V NOTICE WHILE OUT SHOPPING , WHEN YOU LOOK AT OTHER PEOPLE OF COLOR IN THE FACE, YOU CAN SEE THE SELF HATE THAT HAS BEEN PROGRAMMED INTO SOME NOT ALL, I PERSONALLY THINK WE SHOULD STOP GIVING ALL OF OUR FUNDS TO THE DAM CHURCH AND SPEND IT WITH OTHER BLACK BUSINESS LIKE I DO, IM SELF EMPLOYED WITH 3 DIFFERENT BUSINESS, AND CURRENTLY BUILDING ANOTHER FOR MY KIDS, TEACHING THEM ABOUT KEEPING THERE CREDIT SCORE HIGH, INVESTING IN STOCKS,WEALTH BUILDING THRU REAL ESTATE, PEOPLE SHOULD ALSO CONSIDER INVESTING IN OR ALL OVER THE CARIBBEAN, WHERE WE ALL SHOULD BE SOMETIME OR ALL TIMES OF THE YEAR.

    I CAN RECOMMEND SOMETIME THING TO TRY BUT ITS ALL LEFT UP TO THE INDIVIDUAL AND THE MAN/WOMAN OF THE FAMILY..

    FIRSTLY WE HAVE TO TRY TO STAY OFF ALL THE FAST FOOD WHICH IS CAUSING OUR BODIES NOT TO THINK CLEARLY, ALL THOSE GMO,HIGH SUGARS FOODS (SYNTHETIC) STUFF.

    SECONDLY, SELF EDUCATE IF KEY, GET A INTERNET CONNECTION AND RUN WITH IT, I DO IT DAILY,

    THIRDLY: START SMALL SUPPORT YOUR OWN FIRST, I PRACTICE THIS IN MY BUSINESSES AND ITS REALLY HELP , YOU SEE IT IN SALES AND YOU MUST ALWAYS GIVE BACK IN SOME WAY, THE UNIVERSE WILL RETURN IT BACK TO YOU BECAUSE IT KNOWS WHAT YOUR HEART IS DOING, ITS ALL SEEING!!

    FORTHLY, WILLINGNESS TO SHARE YOU KNOWLEDGE, TO MANY OF US GAIN THE INFORMATION , GET A LITTLE MONEY AND FORGET ABOUT EVERYONE ELSE, THIS WILL SPELL FAILURE, WHAT WILL YOUR CHILDREN INHERIT . YOU SEE, YOU HAVE THIS GREAT THING INSIDE OF YOU CALLED MELANIN, (CARBON) , ONCE YOU GET TO KNOW WHO YOU REALLY ARE, THE WORLD IS YOURS. TRY IT , IT REALLY WORKS, ITS WORK FOR ME,

    LISTEN TO GUYS LIKE THE FOLLOWING, DR. DELBERT BLAIR, JOHN HENRY CLARKE, DR. SABI,MINISTER ENQI, DR. UMAR JOHNSON, DR. LALLIA AFRIKA, DR. BEN JOCHNNEN , PROF IVAN VAN SERTINA, TO L;ONG OF A LIST TO NAME, PROF JAMES SMALL,

    BIG PRAISE TO MINISTER ENQI AND KT, THEY HAVE TAUGHT ME SO MUCH, I LIKE TO SHARE THERE NAME , GO TO YOUTUBE FOR MORE INFO, THEY KNOW THE BLACK BODY. THIS IS WHY WE NEED TO CHANGE OUR DIETS

    BUSINESS: START SMALL, DO BUYING AND SELLING, SELL SOMETHING,THERE ARE LOTS OF SUPPLIERS ALL OVER THE WORLD LOOKING FOR DISTRIBUTORS, START OFF WITH ONE SAMPLE, JUST LIKE I HAVE STARTED ONE OF MY BUSINESS. KNOCK ON DOORS OF FRIENDS,FAMILY, PEOPLE ON THE STREET, ANYONE, PUT UP A FACEBOOK PAGE, INSTAGRAM IN YOUR COMMUNITY, TRUST ME ,ONCE THE UNIVERSE SEE WHAT YOU ARE DOING, ITS WILL PLACE THE RIGHT PEOPLE IN FRONT OF YOU.

    I’LL STOP HERE OR ELSE I CAN WRITE A BOOK, THIS IS JUST THE SELF LOVE FOR MYSELF AND MY FAMILY, SO PEOPLE GET OUT THEIR AND TAKE ON THE WORLD AND BUILD A WEB-SITE, TRY WIX.COM OR VISTAPRINT, DO IT YOURSELF.

    AND NO IM NOT GETTING ANY KICKBACK FOR THE LISTED REFERRALS ABOVE.

    P.S WHEN YOU READ THE ARTICLE AND THEY TELL YOU THAT YOU ARE SPENDING 18.6 BILLION ON USELESS GOODS, THAT HAS NO FUTURE PROFIT. BOY!!!!!!!!!!!!!

    Reply

  19. […] back to the point, think about this for a minute blacks spend about $1.1 trillion a year. This is more money than the wealthiest man in the world is worth. Bill Gates is only worth […]

    Reply

  20. i find it interesting that the writer mentioned pastors taking people money which this type of behavior is a great minority in the church period and yet the writer did not give the other side of what churches do with tithes which is give to the poor, provide a place of worship which is clean and comfortable for the parishioner. also many churches help members who are in need but there was no mention of this. I might also add by the way how many smokers and drinkers and drug users and ex prostitutes and criminals go to church and change their lives whether you believe in it or not and thus they are not killing, breaking into our homes, selling their bodies, doing drugs anymore and thats ll because they walked into a church one day where the tithes kept the lights on and allowed them a place to go and find help. oh and if you want to know the greatest hustle in our community that takes and gives nothing back its the clubs that we go and pay thousands of dollars in entry fee and drinks only to dance all night and yet they give nothing back to the community. Nike and the tennis shoe industry, the clothing industry etc….

    So who ever you are to be so irresponsible to place that statement in your article without looking at all the good the church has done and actually coming up with a comparable dollar amount it has given back to our community is very irresponsible. see all good can’t be calculated in dollars and cents, let me leave you with this which no amount of money can ever equal. this is just one example of this. As a pastor five years ago I met a lady once who was cheating on her spouse and he was not in the church at the time and he believed all the church wanted was people money. What he did not know is the church, was working with his wife to help her overcome her behavior because she loved her husband and didn’t want to do that to him… Through prayer and many days and hours of walking with that person she was able to be delivered from this behavior, this woman found the church one day and wasn’t coming to join but for another reason but instead God helped her. Now you may believe that all the pastors want is the tithe and to get rich but i have you know the average pastor earns less that 28 thousand through pastoring and its a very hard and long hours job. Only 3 percent of churches with more than 1,600 people in attendance pay senior pastors more than $300,000, said Warren Bird, research director at Leadership Network. At the other extreme, a recent study by the National Association of Church Business Administration found that the average American pastor with a congregation of 300 people earns a salary of less than $28,000 a year. I sometimes give my parishoners time set aside for my children and wife because they are in need. I am not angry at you because clearly you are using a lightening rod subject to advance your notion that the church is keeping Blacks poor. I simply want you to do what journalist who actually care about fair and honest reporting are taught to do. get both sides of the subject matter and report them with integrity… by the way that woman has once said to the church God used you to save my life and i think she will tell you that 50 dollars a week to have her marriage back and leave a place for a new soul to come in and get help with the broken part of their life is well worth it!!!!!!!!!!!!!!!!!!!

    Reply

    1. Hi,

      While you can argue that in time past, the church has done so much good (I just finished writing an article about the positive influence the church had during the slave era), in the present day, the objective of the church needs to be evaluated. All the time spent in praying and organizing church events, could be spent in skill capacity building and acquiring more knowledge.

      The present day environment reveals that nobody has all the answers. Thus, the church ought to evolve to meet the present needs of the populace rather than depending on it for sustenance. It is my opinion that pastors should work. I currently have the desire to establish a church, so as to help create more inspiring pictures in the minds of the attendees. I aim to instill ambition into them, love, worthwhile values, and push them to contribute their quota here on earth (And God said, “Let us make man in our own image, and let them ‘dominate’ the earth…”).

      However, I am working to establish the companies and businesses that would ensure my family is well taken care of, so that I do not have to succumb to receiving an offering/collection in the church. In this manner, the church would be run like a nonprofit. However, every money gotten and spent would be accounted for, and put up on the church website.

      We need to do more for our environment than make ends meet; and then, attend religious events. It’s my strongest belief that it is our responsibility (each of us) to build God’s world. Since the 7th day, He “rested”, and man has been doing the building ever since.

      Reply

    2. Tony must be a pastor. Lol

      Reply

  21. […] you read my article, please read the latest article written by the publisher of Black Men In America.com.  The article is “How Do Black People Spend Their Money?” This article is scary and will […]

    Reply

  22. Thank you for that information! I humbly accept these findings as some lay particular in my household. We as a community need to recognize and take responsibility for our own actions and make better decisions for our households. We’ve lost two generations of fathers and grandfathers to prison, drugs or death. We have to make a come back and remove this “status quo” or stereotypical: Jordans wearing, McDonalds eating, Flat-screen TV buying, Tax refund spending, beauty product buying, human-hair weaving/fixing, Premium package cable looking, dollar store snooping, malt liqour drinking, no job having, apartment renting, EBT name brand spending, Mentality. I’ll take my cut of the $1.1 trillion buying power and now spend it elsewhere in our community and put more in my retirement. Regards

    Reply

  23. […] black Americans having an estimated $1.3 trillion in buying power, a single dollar stays in the black community for only six hours compared to 17 days in the white community and 30 days in the Asian […]

    Reply

Leave a Reply

More in Money/Economics