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Posted by Editor On JULY - 18 - 2011

Time flies, can you believe we are already past the half year mark? Just the other day we welcomed the New Year with long lists of resolutions. Well, the year doesn’t feel so new anymore, it’s that time of the year when energy levels sink, we get sucked into the routine of life and many times become complacent. All these are symptoms of Mid Year blues.


Posted by Editor On JULY- 18 - 2011

Growing up, I was a ‘someday girl’. I had dreams of someday publishing a book, someday working for a newspaper, someday being an editor, someday. Until one day many years later I woke up to the realization that someday was today; the only assurance we have, not 2 years from now or tomorrow but today.


Posted by Editor On JULY - 18 - 2011

For some April habitually brings in to mind Spring; sunshine, blooming flowers, the green of trees and sliding into flip flops. For me, April is just April because luckily where I live the beauty of ‘Spring’ and getting high on Vitamin D is something I experience every day.


Posted by Editor On JULY - 18 - 2011

As I kid, one of my all time favorite TV shows was 'The Jefferson’s'. As I write this, the theme song is playing in my head. “Well we’re movin’ on up, to the east side, moving on up, to a deluxe apartment in the sky. Moving on up, to the east side, moving on up,we finally got a piece of the pie.


Posted by Editor On JULY - 18 - 2011

February is a special month, apart from the red roses, boxes of chocolate, great deals and the romance, it’s also the month we celebrate the history and contributions of African American men and women to society in the name of Black History Month.


Posted by Editor On JULY - 18- 2011

Happy New Year!Yes, I know I'm a little late on the wishes just like the way I'm late with our new January Issue but it's finally here. New year, new layout, new name, basically, new things. Its all about the new new! For all those who knew this blog as The Ladies Room, I now introduce you to AfroElle; a blog for women of afro-descent from all over the world.


Posted by Editor On JULY - 18 - 2011

The year has literally flown by, I can't believe it's already December. To many, December is a month of in depth self evaluation and stock taking; taking that walk down memory lane to see if you accomplished the goals you set at the beginning of the year.It's also about looking at your present to see what has worked for you or what you need to eliminate before you head on to the new year.

Avoiding Debt

Posted by AfroElle On 5:47 AM
Mary has just set off in the morning to look for a new house. She looks to get an agent, they should know where the best houses are, she is able to go round a few other houses with another agent and voila she comes across one that she likes. With the deposit and rent paid she moves in immediately before night fall.

In Mary's case the next thing on her mind is figuring how she can spruce up her house at the snap of her fingers, since money is not easy to come by she turns to the nearest bank that can ease her off her misery, with that comes the necessary repercussions.

I’m sure this story runs true for many young adults, we all want to have a place we can call our own no matter the cost. Knowing that, marketers are using it to our disadvantage and coming up with all manner of products that will make us feel rich immediately.

Consumable debt is the easiest to get into, with it, high interest rates are not far behind. The longer you take to pay it off, the faster you end up doubling sometimes even quadrupling the banks coffers.

The key to avoiding debt is to:

  1. PLAN PLAN PLAN!!!!! This will enable you to set deadlines so you do not take the first offer you get just so you satisfy today's immediate needs.

  1. In your plan incorporate a SAVINGS and INVESTMENT strategy, this will enable you achieve your dreams faster as the money starts working for you due to the power of compounding...

  1. If you really have to borrow, PAY DOWN the DEBT AS SOON AS POSSIBLE, how you may ask? Well reduce your spending habits, then channel the additional savings into paying of the principle amount of your debt (this is an agreement you enter into with the bank.

Don't make the mistake of increasing the minimum payment; just ask to make additional payments instead. This will save you a lot of heartache in the event an emergency creeps up on you)

  1. Use debt to your advantage, by using the money to PURCHASE INVESTENTS that will eventually bring you a HIGHER RATE OF RETURN. A Good example is a piece of land as it has an appreciative aspect and hence may grow faster over the period of the loan.
Now that is the epitome good debt, increasing your wealth over the long run as opposed to taking money out of your pocket, which is the case with bad debt.

Elizabeth Karina.    

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