Sacramento, CA — David Fontaine, who has worked for 35 years as an entrepreneur and real estate investor, has released a new book entitled The Black Financial Literacy & Wealth Building Bible. His book lays out the mindset, financial knowledge and skills Black Americans must acquire to build long lasting wealth.
Fontaine, who received his B.A. in Economics from Gonzaga University, once owned one of the largest financial and insurance agencies in Superior, California. During his years in business, he observed the wealth gap and the need for financial literacy education within Black and minority communities.
After selling his agency, he started the Minority Financial Literacy Center to address this need. As the CEO, he developed the eleven principles for building individual, family, and community wealth. His book offers financial literacy education and wealth building solutions.
Fontaine is easily noted as an expert in the financial literacy arena and his book seeks to educate the masses on these topics. Below he’s put together a few bullet points to forge your path to financial success:
* Always live below your means: Take the money saved and invest it in a new business, retirement or real estate
* Have a budget and stick to it: Allow yourself a 5% monthly cushion for unexpected expenses
* Maintain a high credit score: Pay your bills on time and keep credit card balances below 30% of your credit limit. This allows you to finance the purchase of that new business or home at the lowest possible interest rate.
* Pay yourself first: Automatically have 10% of your net monthly deposited in a savings account.
* Support and encourage family, relatives and friends that strive to be entrepreneurs. 80% of all millionaires are small business owners.
* Spend your money at businesses that reflect your values and hire your children: Those businesses tend to hire people that look like you. Donate to civic organizations and non- profits that promote your values.
* Buy a home. Invest in real estate and the stock market: Ninety of wealthy people have investment in these asset classes.
* Group as a group: Black people must collectively pool their money to provide capital for investment opportunities.
* The Black church: Our preeminent institution must lead our community in wealth building as it successfully did with the civil rights movement. It must have a plan to maximize its resources, power and influence.
* Donate a portion of your income to responsible religious institutions and charitable organizations that are committed to black wealth building. Life is about giving. Those that give receive back much more.
For more information about The Black Financial Literacy & Wealth Building Bible, visit BlackFinancialLiteracyBible.com or email Mr. Fontaine at email@example.com
The book can be purchased on Amazon.
David W. Fontaine
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