ORLANDO, Fla. – If you’re struggling to improve at some form of sport, you’d consider finding a coach, wouldn’t you?
So then, why should it be any different with other things you may have trouble understanding or using to your best advantage, such as your money?
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This week on “Black Men Sundays,” host Corie Murray interviews entrepreneur Tony Jackson, a certified financial instructor, ordained minister and author who calls himself “The Real Money Coach” and seeks to help you “Increase, Protect and Dominate Your Money,” the title of his flagship financial advice book.
As far his “The Real Money Coach” brand, Jackson told Murray it began during the COVID-19 pandemic, specifically on April 2, 2020.
“I was getting phone calls from my clients, right? Because the markets crashed, and it’s going down, you know, we right in the middle of this COVID thing,” Jackson said. “Well, I’m gonna do just a one-time Facebook show, just to invite all my customers to so I could tell them all of what was going on, how their money was saved, that they weren’t losing anything, and so that went so well, they said, ‘Well, can you come back and do this again? Like, you really coaching us.’”
Jackson’s advice sessions eventually grew to become a weekly broadcast finance show livestreamed on Facebook and YouTube, as well as on the radio in Charlotte, North Carolina, with Praise 100.9′s FM signal.
Concerning financial literacy in the Black community, Jackson said financial psychology is an often overlooked and neglected aspect of preventing prospective savers from falling back into an adverse relationship with their assets.
“We always start with financial psychology. We call them MKO, more knowledgeable others; who’s your more knowledgeable others? Is Uncle Pete trying to tell you how to invest your money, or is there somebody else that you’re learning from? And so we have to start with mindset,” Jackson said. “Once we get past that mindset, man, then we can start talking about implementing strategies, because I seen it over and over again; we’ll help someone get out of debt, right, or we get their credit score up, but if we don’t change their mindset, they’ll slip right back into debt, they’ll slip right back into bad credit, and it’s a cycle, right?... So we have to break that cycle, and how do we do it? We do it by having Black Men Sundays, right? We have these type of platforms that we need to talk to our people about.”
Black Men Sundays talks about building generational wealth. Check out every episode in the media player below.