Understanding Money: Time for a Brand New Hustle

John BurnettTime for a Brand New Hustle

By John Burnett


Today, positive news about the financial health of the American economy abound. Newspaper and digital media headlines regularly report on the stock market reaching all-time highs, a stronger dollar and a 5.5% national unemployment rate, the lowest it has been since the global meltdown in 2008.


While this is great news for economists, politicians and millionaires, the average New Yorker feels and knows differently; especially, those living in The Bronx – which has an unemployment rate of 9.6%, the highest rate of all 5 boroughs and New York State.


You may be reading this article on your way to work or while enjoying a hot cup of coffee before clocking-in to start your day and asking yourself, “But how do I get ahead?”


To start, you must begin managing your credit and increasing your understanding of money. Credit is money because, if you manage it properly, it can provide you equity with which to fund real estate investments, a business venture or an education to make you more marketable. Creditors use your credit score to gain insight about your reliability and level of discipline. A good credit score can open doors and if used wisely can unlock your economic potential.


As for money, I am reminded of what my cousin, John Royal, says all the time, “money is the most commonly and widely known thing that we use daily without first reading the directions”. While instructions are not printed on money but useful information can be found on the web, in various books and in classrooms.


To change your attitude towards money and enhance your understanding, you must first change your mindset, conversation and spending habits. Shopping and spending money is easy, but knowing how to save and grow your money is something that is not taught or discussed in urban communities. I plan to share useful money management information that will uplift those who are struggling and want to change their financial circumstances.


Making investments and taking some risk is required. I know many of you may be saying, “I don’t have enough in my budget to invest” or “I am afraid to lose my money”. I


In future articles, I will provide useful tips and ways to help you to start a new attitude for a brand new hustle that will make you money. I will help you become comfortable enough to take a little risk by investing in the stock market and real estate. I want to coach you into developing a WINNER’S MENTALITY by believing in yourself and the power of your money.

Follow me in The Bronx Chronicle for upcoming articles on the power of compound interest, tax issues, financial empowerment principles and more.

John Burnett is a financial services executive with over 20 years of experience in risk management, operations, governance and compliance at some of the world’s top financial services and business information companies. John is a former 2013 republican candidate for New York City Comptroller. Follow him on Twitter: @IamJohnBurnett and Facebook Fan Page: /IamJohnBurnett

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