This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
Seek financially successful people who look and live the part
Many people are financially illiterate – which means you’re likely to have family (including parents), friends, and mentors that don’t know much about money – even if they act as they do.
I’ll never blame family, authors, mentors, or friends for my less prudent financial decisions because it’s my money and my choice.
However, I did learn a powerful lesson when I was younger: Just because someone is older than you or looks like they have money doesn’t make them qualified to give you advice.
The best people to learn about finance from are the ones that are genuinely financially thriving.
In a world addicted to appearances, you can’t always tell the difference between the real and the fake. Sometimes certain people (i.e., Warren Buffet) make it much easier.
One of the best pieces of advice I heard recently is to be cautious about who you’re learning from; they will either infect your mind positively or negatively.
How To Improve Your Financial Situation
Investing in financial education is the best way to improve your financial situation. It’s what my parents did for us at the dinner table because they weren’t financial experts either.
Hence, we all read personal finance books together at the dinner table.
Most of the stuff went over our heads, but through repetition, we all became more familiar with different financial concepts, which granted us the option to improve our financial situation.
I say option because as we expose ourselves to new information, it doesn’t automatically mean our finances will improve.
We must actively and consistently make better choices, or we will live economically compromised throughout our lives.
Question Every Piece Of Information You Consume
Some people call me skeptical, but I know that I won’t accept someone’s truth without questioning the validity of the information. Even if it’s correct information, it doesn’t mean it aligns with my values and goals.
Many black people have historically struggled financially because we keep recycling the wrong information and making poor financial decisions.
PPP Loans
Someone told me to take advantage of a PPP loan during the pandemic, and I thought to myself, why tf would I do that?
Their question actually made me angry because of how ignorant it was since we both knew they weren’t using this money for business-related purposes.
But some black and non-black people took advantage of those loans and didn’t make much use of the loans either.
If you’re going to borrow money, receive extremely low-interest loan rates or grants, do something productive with it.
Don’t squander it.
People were getting money left and right during the pandemic (i.e., grants, loans, stimulus checks, and unemployment checks), and what did they do with it?
Many started investing, but others didn’t and are still living paycheck to paycheck, hoping for another bail-out to save them from their irresponsible financial habits.
Cash Advances
Another person asked me to send a little extra on top of what I was giving them to cover the cash advance fee.
Why are you taking cash advances?
Do you not have any money in your bank account?
Cash advances are for people that don’t plan.
Question Others’ Choices And Do The Opposite Of Everyone
Not only should you question information, but you should question others’ choices and habits before you make the same choices.
Another piece of advice, if you want to be successful, do the opposite of what most people do with their finances.
Most people live above their means and don’t invest; if you do the opposite, you’ll already be better off than most.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.