For African-Americans, Is Debt a New Form of Slavery?

Harriette Cole, the Rev. DeForest B. Soaries Jr. and Erin Shelly HARRIETTE COLE MEDIA
Harriette Cole, the Rev. DeForest B. Soaries Jr. and Erin Shelly
HARRIETTE COLE MEDIA

On this week’s episode of The Root Live: Bring It to the Table, guests talk about finding financial freedom and creating a legacy for future generations.If African Americans do not get control of personal debt and begin to live healthier financial lives, “we will never own our neighborhoods,” and “we will never leave a legacy for our children.” This dire prediction from a prominent religious leader has motivated a financial-freedom movement that is grounded in religious teachings.

Wednesday’s episode of The Root Live: Bring It to the Table is titled, “Living a Biblically Sound Financial Life.” Host Harriette Cole speaks with that leader, the Rev. DeForest B. Soaries Jr., senior pastor of the First Baptist Church of Lincoln Gardens in Somerset, N.J., where teachings include strategies to address the cultural, psychological and spiritual influences on financial wellness.

Soaries teaches his parishioners to control their “wants” in favor of their “needs” and to stop living in servitude to debt. Also interviewed is Erin Shelly a member of First Baptist Church, who has used the reverend’s guidance to improve her financial circumstances.

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Source: The Root

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