Print your bank statement for the last 6 months and give yourself a diagnostic exam. Find out what you spend most of your money on. Most people visit Starbucks every morning or have lunch at McDonald’s or Chipotle every other day. What is your magical number $20, $50, $100, $250 per month for coffee and lunch?

If fifty percent of all black people invested $5 a day in the stock market or in a mutual fund, the wealth gap between blacks and whites would disappear in 1 – 2 generations. This is based on the historical rate of return of the market. We have the ability to change our family’s financial future and close the wealth gap if we just practice a little self-discipline.

We must work towards passing down wealth instead of debt and it’s easier than we think. Just start with an amount as small as $25 a month. This will get you in the habit of saving. We have to start somewhere.