I am an Advocate for Public Education Part 2

 So here we are again my peoples. I have been away for far too long and I apologize for abandoning you during this ongoing Pandemic, but self and family care took priority. 

I am revisiting an earlier Blog several years ago where I discussed public education vs private education. I did take a little heat for saying that you could send your kid to a public school and rather than pay the high private school tuition, use less money and supplement your child’s education with additional resources and opportunities, and by doing so could get your child in the same elite colleges as the private schools.

Well, today, I can let you know that I was right. I have one daughter who went to one of the top women’s colleges in the country and another who is going to an Ivy League college. These schools with their billion dollar endowments are unmatched for the resources and opportunities they can provide to your student. They both attended public schools and trust me they got no pass or benefit for the color of their skin. As most of you know now, middle class black kids get no breaks unless you are first generation. I did put them in sports like golf, tennis, swimming. They excelled in all three and learned discipline and resilience. What I found out along the way is that even after the William Sisters and the Woods, this sports are still 99% white. The movie “King Richard” does not over exaggerate the obstacles or the elitism in these sports. Everyone is nice until your kids start beating theirs. It is mainly about access and changing our mindsets from the traditional avenues to forging new ground. As I always say during this time, the best gift a black parent can give their kid is a golf membership and some lessons. It will change their whole perspective. Trust me. You can blog back at me and I can guide you through the process of all three sports because no one will help you, except maybe a few Asian parents. Now, I am not stereotyping just speaking from experience. 

I have to put up some Christmas lights and the Little Free Library that I built( I am becoming a true New England Granola eating Liberal). I will blog more later. I have many topics about the economy and money to catch up on so get ready 2022.

Frugal Frank from the Blackside

Being Black in the time of Trump

Hello my peoples,

I don’t know about you, but I miss President Obama. During these times, we need to remember that we are still living in Obama’s economy.
The jobs growth- Obama
Healthcare- Obama
Stock Market- Obama
Minimum wage increases- Obama
Green economy- Obama

We need to also remember that we will feel the full effect of Trump’s policies in the next 4 years going forward. Just think of the Bush years. Clinton left a booming surplus economy and it only took Bush 4 years to destroy it. Remember, that’s why we got Obama., a republican President drove the economy into the ditch. The sad thing is, he was smarter than the present dude.
I am not here to bash President Trump, because it just waste energy and history will always uncover the truth.

I have been slow reading the new Frederick Douglass biography by David Blight and it helps me appreciate and understand the times we are in now. Just think about it, Fred saw all the progress made during abolition and reconstruction only to see so much ground lost during the beginnings of Jim Crow. In reading the book, I saw that white supremacy takes no vacations and will try and rewrite history because most of the populists takes the path of least resistance. Fred never stop living as a man and continued to speak truth to power. I don’t want to give a summary of the book, so I suggest that you make this your holiday read and come back and discuss it with me.

So, with the holidays amongst us, what should we discuss? Beyoncé, Jay-Z or Kanye? As Whitney Houston once said, “Hell to the no!” We see a lot of this mindless material on television. I think it should be finances. Why? Because money issues shorten our life span, leads to divorce, unhappy retirements and unhappy relationships. As a black man living in New England, I have learned that weekends are great for biking, tennis, golf, and farm to table eating. Weekends are not meant for Mall retail shopping, fast food eating, and any sedentary activity possible. I also love the Lord, but have found many ways and places to worship not always in the traditional church structure. I sometimes attend church with my white brethren when I want a short service with the word, but I also go to the black church for spiritual renewal. There is just something about a white choir singing Negro spirituals that is just not right. So, I will be attending my black church during the holidays with my people. You know, “Silent Night” with the Motown twist can’t be beat at Christmas.

So back to finances, as I read Frederick Douglass, one of my takeaways is that blacks after Reconstruction were involved in educating their children and were trying to make impacts on society. As, I look at  the Jay-Z’s, Will Smiths, Kanye’s and multiple wealthy celebrities, I wonder if they are producing future doctors, scientists, and lawyers or future consumers of mindless materialism? Is it the ultimate goal to be on E!News every night? Is that what our people fought and died for? You know the ironic thing about this whole college admissions scam involving celebrities? There were no black celebrity parents. They will buy kids $200,000 cars and throw the biggest birthday bashes but are not trying to get their kids into elite colleges, even illegally. I will give George Foreman some serious credit, none of his kids are boxers; but they are lawyers, doctors and dentists even though their father is worth $300 million and they could live off his wealth.
Let’s keep our eyes on the prize. During this holiday season, don’t overspend. Your kids should still love you if they don’t get the latest new toy and if they have issues check your parenting skills. Trust me I am raising two strong sisters who are woke and self conscious. Maybe it’s the parenting or because they have a frugal dad, but this year they want gifts after Christmas when stores give the greatest markdowns. They are giving me my greatest Christmas gift, Frugal Kids on the black side.

So, during this period of holiday joy and political turmoil, get your finances in order so that you can bear the economic down turn coming, and believe me, it is coming. We may have one or two years of breathing room. So do these during the holidays:

1. Pay off as much debt as possible
2. Build reserve funds
3. Build retirement
4. Educate your kids, if A’s are not coming home, some serious shit needs to get restricted.
5. Join Planet Fitness instead of buying a Peloton
6. Upgrade to a used car instead of a new car
7. Stop drinking all soft drinks and switch to Perrier
    This and reduced bread intake will improve health and weight loss
8. Buy a subscription to Consumer Reports
9. Subscribe to SiriusXM for Urban Talk-get woke
10. You still need to get your kid a junior golf membership to a nice golf course plus lessons
11. For the  HolidayFive Black Movies to Watch this Holiday

Peace out for now,
Frugal Frank on the Blackside

New Year’s Resolution in the Black

Hello my Peoples,

Welcome back in 2019. I hope you had a good holiday and had lots of love and cheer. We vacationed over the holidays at a lovely resort in Vermont. I wanted to enter the axe throwing competition but on the morning of it the temperature was zero. So, I, instead stayed in and enjoyed the beautifully fallen snow and finished reading the biography of Alain Locke. I would highly recommend this weighty reading. I don’t know if you have tried Groupon for vacation deals but I would highly recommend it. Now, Let’s get started fresh off the bat with some great resolutions.

Number 1:
Identify and eliminate destructive values from your life.
Although most values are positive, we all have those which are not good for us.
Like:
1. The desire for something for nothing. Symptoms can be playing the lottery, gambling or cheating.
2. The desire to gossip. It allows us to feel better or superior to talk about other people’s problems and while avoiding our issues.
3. The desire for instant gratification. After all some of us are a part of the “me generation”
   
Remember that identifying leads to correction. As Patti LaBelle says, “Don’t block the blessings.”

Number 2:
Create your dream list for the year.Write down things you would like to do in 2019.
1. Where would you like to travel.
2. How much money would you like to save.
3. What debt will you pay off.

4. Do you need to start a new relationship?
5. What new look would you like.
Remember, start small, baby steps can be achieved easier.

Number 3:
Create a list of your values, then make sure your actions align to your values.
If you say that you value frugal living but hit the mall every weekend, then your actions don’t match your values. Your values list  should also include no monetary values like healthy living, family, security, peace of mind, happiness, spiritual healing, and don’t forget a healthy sex life.

Well, this should be enough to get you started for the New Year. I have already started working out at the gym a little. Remember, baby steps. I want to loose just 10lbs.

Again Happy New Year,
Frugal Frank OTBS

Don't Be Punked or Bambozzled

Hello My Peoples,

I know it has been a while, but I am a hard working brother and have to make that money. Now that being said, I make my money from other things than financial advice. This separates me from the other cats on the internet blog sites. I am not trying to make money off of you, just spreading good frugal advice and love for my people. As my mother used to say, "People who love you will tell you what you need to hear not what you want to hear." SO AGAIN as I yell at you. Beware of people trying to make money off of you. Now don't get me wrong, you should protect your family with insurance and you should invest for your future, but you can research and do this for yourself without paying hefty fees. You can check this blog, ask questions, and seek out your library for some good books. Yes, as frugal fans you are going to have to read for yourselves. I am not your quick answer guy but we can have a healthy discussion once you educate yourself a little.  I need you to join the ranks of the Frugal Franks On the Black Side, which means I am probably going to rename this site because I believe in the empowerment of black women and we need strong sisters and brothers. Now, just because I love my people don't mean I am against others. I love the human race, but my people sometimes get neglected. So, as I write this blog on Mother's Day, I have to give much love to my deceased mother who was a symbol of strength in flesh. She could pinch pennies like nobody's business and still do better than neighbors making twice as much as she.

So here is a list of the attributes of Frugal Frank OTBS fans:

1. They drive used Volvos, Honda Vans or Subarus
2. They take mini-vacation weekends using sites like Groupon instead of exotic ones
3. They invest in their children's education instead of clothes
4. Men wear Keenes, Clarks and Rockports
5. Women wear Keenes, Birkenstocks, and Danskos
6. Have 15 year home mortgages
7. Have assets of $1 million and are maxed out on 401K's and 403B's
8. Shop at Lands Ends, LL Bean, Thrift Shops and hit Tag Sales on weekends
9. Should be invested in some Berkshire Hathaway
10. Do not have Bitcoin (because we don't understand it yet, although Ripple is interesting)
11. Don't plan to retire-we will talk about this in the next blog
12. Send their kids to public school if they can
13. Don't Tithe but support the church not because of guilt but through love
14. Have switch to Apple Computers, software and tech is just better

Well, time to go. After All it is Mother's Day and Tiger Woods and Harold Varner III are making history making as the only two blacks on the LeaderBoard at the Players Golf Tournament.

Peace Out,
Frugal Frank OTBS

For Christmas,Buy Your Kid a Junior Golf Membership

Hello my Peoples,

I am in the holiday spirit and feel like blogging away. I am originally from a good old black southern environment and this time brings back special memories. We were kinda of poor but never knew it because my mom was the ultimate spendthrift. We knew what we were getting for Christmas in June because my mom would layaway Christmas gifts 6 months early and it was mainly clothes with like one toy. My toys were always Tonka, because they were hard to destroy. I am talking about the old Tonka vehicles made of metal not these plastic ones today. My mom worked 6 days a week and during Christmas the department store where she worked would stay open until 9 pm. On Christmas eve, it would close at 5 pm and that's when the fun for us but added work for mom would begin. She would cook all night long and wrap gifts before we woke up. In the morning we would wake up to the smell of country ham, cheesy eggs, biscuits and salty herring(never knew how the fish mixed in).

We made it because my father and mom had built our home and paid it off before he died when I was young, so that allowed my mom to raise 5 kids on her check and Social Security from my father. When mom wanted to buy furniture or clothes she would lay them away, but she bought the best. She would always say "If you buy quality goods like the white folks, then it will last." That is one thing she learned working in the houses of wealthy white people, they don't waste money just because they have it. When she was recommending something, she would say "That's what they are......." which meant that is what the white folks are doing. But, you know what; her philosophy got me into some of the best colleges, great organizations and allowed me to traveled to Europe and have a heck of a good life.

So, why do I say for Christmas, buy your kid a junior golf membership? Because, "That's what the white folks are doing." They have almost surrendered basketball and football for now until they can figure out how to change the rules of the game. Has anyone noticed how the free little leagues that we grew up with are being replaced with high priced travel teams? They are pricing us out. Now a days if you don't pay for kid to go to the expensive summer camps your kid better be the next Lebron because the high school and college coaches recruit from the camps for soccer, football and basketball. They are on these coaches radar in middle school. The game is changing and we don't know the new rules. But, let's talk golf.

Golf country clubs are looking to increase participation in the sport and the fertile territory is the young. If they get them introduced to the game, they have players who will pay for 40-50 years and will also draw in parents. The normal annual membership to the average golf club can range from $1000 to $20,000, but junior memberships can cost as little as $200 a year. Of course, you need to get the kid lessons with a pro(not too expensive,check out First Tee), but this will be the best investment you ever spent. You will introduce your child to a whole different world and, if they play in junior tournaments, to some of the best golf courses in the country. They will meet future pro golfers and make great connections. If they are good, they can receive full scholarships to some of the best colleges. You guys should follow the other black guy on the PGA Tour(besides Tiger), Harold Varner III. This brother graduated from East Carolina and made about $2 mil last year. So even though I like team sports like football or basketball, golf and tennis are the best defenses against bias and racism. In team sports, your playing time depends on whether the coach likes you or thinks you can contribute to the team. So many talented players waste their time on the bench with dreams deferred. But with golf and tennis, you don't need permission. Your destiny is in your own hands and if you hit enough balls and play enough tournament, you will get better. Now, I do have to warn you that at times you and your kid will be the only black faces in the clubs and tournaments, but this only teaches your kids tenacity and by the most people are polite and helpful. The Asian parents will embrace you also. In golf , the one with the lowest score wins. No one can prevent your kid from playing and its a lifetime sport and it is never to late to start them. Trust me, you will have a better time walking 18 holes with your kid rather than watching him ride the bench for 10 minutes of playing time. Parents, if you have girls, golf is where it’s at. The sisters can dominate. Trust me they can do more with golf than cheerleading. My boss never asked me to go cheerleading after work. You  will be raising strong sisters. Did you know that a black woman owns the golf course that the Arnold Palmer Invitational was played at and tha Condolezza Rice is a member at Augusta National, one of the most exclusive golf club in the country.

So, for Christmas, go get that golf membership and don't forget the clubs.
Finally, because you are reading this blog, I know you will have a frugal Merry Christmas.




Happy Holidays and remember what James Brown said, "Santa Claus goes straight to the Ghetto",

Frugal Frank OTBS

Everybody Wants to Be Rich

Hello My Peoples and others,

With this year drawing to a close, Frugal Frank OTBS just wanted to drop a note. As my mother used to say, "Everybody wants to get rich, but we settle for a black man's heaven". We spend too much time projecting wealth rather than having it. During my years talking to people about investing money and planning for their financial future, I found that many people that I talked to wanted to project more wealth than they really had. I would visit people living in $500,000 homes and a driveway full of high end vehicles with no savings and very little retirement. Even though they were educationally at the top of their professions, they were financially ignorant. I would get the same spills, "I see myself doubling my salary in five-ten years and I am not in a position to do more investing yet." or "I already have this great annuity through my bank." Others would present me with some great investment they saw on television or heard at the barber shop like Silver Eagle coins, Bitcoin,  or Pyramid church schemes.

Now, I know that this blog is not palatable to all that read it. It's not meant to be. One of the reasons I got into investments was to help my people, but then I found out that a lot of them didn't have enough money to support me, so I had to turn to the man. Yes, the man. The truth is that the real "man" sees colors in green. If you are credentialed and smart they will write a check without blinking because if you have old or conservative money you know how to make more. They are not new to the game and so they know about investing and growing wealth. Now for some hard truth. Our people are behind the eight ball on financial awareness. We depend too much on banks and investment advisors to educate us.

If you have less than than a million, you are not generating enough income for your advisor, investor or counselor to make a living on. (Yes, they make money off of you) They will either try to put you in high commission products or sell you a plan or multiple products. With a little education you can invest and get pretty good returns yourself. And you should monitor your investments every 2-3 months.

Another hard truth is that if you haven't accumulated $100,000 in retirement by age 30, you should find you a job you love and keep working. Retirement with no money looks like a Walmart greeter.

So, with this knowledge do the following for Christmas:
1. Buy yourself some books on investments,if they suggest annuities skip them
2. Have a family meeting and review your finances
3. Figure out how to increase your retirement savings to 15%
4. Get yourself some insurance

Peace out,
Frugal Frank OTBS

Frugal Frank OTBS where have you been?

Hello my Peoples,

Frugal Frank on the black side back for 2017. What a year, Dow at 22000. So, for those of you who listened to my previous blogs and stayed in the market you should be closer to that million or two. I am in the liberal land of New England with high minimum wages and good health insurance plus excellent public schools. In this blog, I will share a few things I learned over the first half of this year.

First GEICO is now my favorite car insurance company. I dropped my independent agent with the M-F 8-5 hours and got 24hr quick response service. My last add on vehicle  was done at 3am in the morning and was approved in less than 1 hour with the policy emailed to me. No lie, I saved $2000 a year for 3 vehicles with a teenage driver.

2nd lesson learned for 2017;  I have gone back to car dealerships to service my vehicles. Because dealerships are really going after the auto maintenance and repair business, dealerships have lowered repair prices and increased quality and customer service. With the new technology in todays cars, old repair shops can't keep pace on diagnostics and tend to waste your dollars fishing for solutions. I have to give credit to my wife, after a few repairs from our previous mechanic where the Honda was returned with grease smudges and high cost, she checked Yelp for a dealer. After months of reviewing repairs and comparing bills for similar work, we switched all vehicles and are very pleased. The plus is that the dealers are linked into the same systems, so if you need a repair in another state your records are accessible.

3rd lesson; Hisense  makes a better and cheaper flat screen than Vizio. I paid $398 for my 50 inch and after 3 years it is still showing a great picture. So for those of you who are still waiting to buy that flat screen, go ahead and take that plunge.  If you are nervous about reliability, buy it at Costco(they add a 1 year additional warranty), buy it with a credit card(add another 1year additional warranty). (Amex and Visa for sure).

4th lesson; Cut your cable and stop watching all that news babble talk. You can get a balance from PBS Newshour and you can spend the rest of your time reading, biking or playing tennis and golf. Some summer reading books I suggest: The Black Count, The Capitol Men, Hidden Figures and the Miseducation of the Negro.

Well my time is up but I promise to stay connected this time.
Stay Frugal my friend

Frugal Frank OTBS