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data on African American consumers
Black Buying Power:
$679 Billion (2004)
Black U.S. Population:
Top Five Black Cities
- New York
Top Five Black Metros:
- New York-New Jersey
- Los Angeles
Top Five Expenditures:
- Housing 110.2 bil.
- Food 53.8 bil.
- Cars/Trucks 28.7 bil.
- Clothing 22.0 bil.
- Health Care 17.9 bil.
Click here for more stats from "The Buying Power of
Get quick access to key
Click here to go to African-American Census Bureau
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One debuts personal finance reality show with writer Michelle Singletary
9, 2006) Washington Post syndicated personal finance columnist Michelle
Singletary brought her straightforward, personal approach to "financial
serenity" to television with the debut last week of the new TV One series,
“Singletary Says.” The series, which uses a reality format to help
financially challenged households, premiered on January 4 and airs each
week on on the cable network on Wednesday at 8:30 PM eastern time.
Using the plain-spoken but humorous touch that has characterized her
columns, numerous radio and TV appearances and her book, "The 7 Money
Mantras," Singletary helps individuals and families under financial strain
find answers to the issues that confront almost every household, such as
how to teach children the value of money or how to address money issues in
a relationship or marriage.
”Singletary Says” capitalizes on the host's simple, common-sense approach
to building wealth and financial security, in which making decisions about
money are as much a part of everyday life as deciding what's for
breakfast. Each week, she wades into the lives of those anxious to put
their financial houses in order to help them correct and/or avoid common
financial mistakes - and in many cases, repair fiscally challenged
In the premiere episode, the theme was "Sweat the Small Stuff," where
Michelle worked with Maria, a college student with student loans, $1,000
in outstanding parking tickets, and a serious nicotine, caffeine and shoe
shopping habit; and Cecily, a single mother anxious to buy a home and save
for her son's education but who spends a little more each month than she
A mother of three who knows something about living on a household budget,
Singletary and her four brothers were raised by her grandmother on a
salary that never exceeded $13,000 a year. Yet at her death, Big Mama
owned her own home and her own car loan-free. This upbringing not only
helped shaped her own approach to financial security, it helped instill in
her a missionary zeal to help others recognize how to live better with the
money they have.
Michelle Singletary, a business writer
on the staff of The Washington Post, started "The Color of Money" column
in March 1997. The response from readers was instantaneous and enormously
positive. It became clear that many of these readers previously had found
many financial issues too difficult to penetrate.
Prior to becoming
a columnist, Singletary covered local and national banking for the Post.
She joined the paper in 1992 and was assigned to cover bankruptcy. In
1994, she was awarded a fellowship by NABJ to write about small
women-owned businesses in West Africa. While in Africa, she helped cover
the 1994 election of Nelson Mandela, and shared the lead story on election
day with the Post's foreign correspondent, writing about a Soweto family's
day at the polls. Before coming to the Post, Singletary was a business
reporter for the Baltimore Evening Sun.
Singletary has a new book debuting at the end of January 2006, "Your Money
or Your Man," published by Random House.
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'Buying Power' report shows black consumers spending more on home life
the American economy continues to move sluggishly, African-American
households are curtailing their spending in many categories, including
food, clothing and basic household items, while investing more in home
repair, home entertainment and consumer electronics. Although they are
trimming back, black consumers are still spending more than their white
counterparts on most of these products.
According to the newest edition of “The Buying Power of Black America”
report, African-American households are tightening their belts when it
comes to dining out, expanding their wardrobes, and leisure activities out
of the home. At the same time, they are increasing their spending on home
repairs and remodeling, audio and...
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