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4 Incredible Facts in Honor of Black History Month

It’s Black History Month; so let’s celebrate! In honor of Black History Month, Artesia Credit Union is proud to share four little-known facts about African American history, along with a list of fun ways to commemorate black history and culture.

1. The Rev. Dr. Martin Luther King Jr. improvised the most historic part of his “I Have a Dream” speech.

On Aug. 28, 1963, more than 250,000 Americans stood spellbound at the Lincoln Memorial, as King delivered his iconic address.

While much of his speech went down in the annals of history, perhaps the most famous lines are those in which King describes his dream of a tolerant, respectful society. Incredibly, those words were likely ad-libbed on the spot.

Dr. King and a group of advisors spent hours polishing the planned speech, and the original version was a lot more political than inspirational. In fact, it did not make any reference to dreams.

Onstage, singer Mahalia Jackson allegedly whispered to King, “Tell ‘em about the dream, Martin.”

After intoning, “We are not satisfied, and we will not be satisfied until justice rolls down like waters and righteousness like a mighty stream,” Dr. King’s talk became more of a sermon.

He continued with the now-famous lines:

“Even though we face the difficulties of today and tomorrow, I still have a dream. It is a dream deeply rooted in the American dream …”

Dr. King’s talk is now considered one of the most successful speeches ever in American history.

2. Rosa Parks was not the first black woman to stage a sit-in

Before Rosa Parks was on the scene, there was Claudette Colvin.

In March of 1955, the 15-year-old schoolgirl remained rooted to her spot, refusing to move to the back of the bus. This was nine whole months before Rosa Parks’ famous stand. The young girl had been studying the history of black leaders, like Harriet Tubman, in school. Those lessons had triggered many heated discussions about the present-day Jim Crow laws. When the bus driver demanded that Claudette move to the rear of the bus, she refused.

The teenager said, “It felt like Sojourner Truth was on one side pushing me down, and Harriet Tubman was on the other side of me pushing me down. I couldn’t get up.”

3. The Quakers were the first to protest against slavery

The Quakers were famously known as “The Society of Friends.” Four of these men from Germantown, Pa. wrote the first protest against slavery in 1688.

Drawing inspiration from the Golden Rule, the peace-loving men wrote, “Pray, what thing in the world can be done worse towards us, then if men should rob or steal us away, and sell us for slaves to strange countries, separating husband from their wife and children …”

This rare document was rediscovered in 2005 and is now part of the Haverford College Special Collections.

4. One in four cowboys was black

It might not be the picture you’ll get from watching western movies or TV shows, but at least 25% of cowboys were black.

After the Civil War ended, the old Wild West attracted lots of newly freed slaves seeking freedom and paid work. While they did find a demand for their skills and lots of freedom to live as they pleased, the blacks – and all cowboys – had to contend with many physical dangers while sleeping under the stars and “riding them horses,” such as inclement weather, reckless outlaws and rattlesnakes.

Celebrate!

There are so many ways to celebrate Black History Month! Here are just a few ideas to help get you started:

  • Read the poem, I, Too, Sing America by Langston Hughes.
  • Bake sweet potato biscuits, a traditional African American-inspired soul food.
  • Jazz up a dull day by tuning into some blues music.
  • Play the ancient African game of Mancala. You can make a board at home using an empty egg carton with the lid cut off, and some beans for game pieces.
  • Look up James Karales’s photos of the 1965 Selma to Montgomery civil rights marches.
  • Read On Beauty by contemporary author Zadie Smith.
  • View Jacob Lawrence’s Migration Series.
  • Read the poem, A Pledge to Rescue Our Youth by Maya Angelou.

Step 2 of 12 Toward A Debt-Free Life: Don’t Dig Yourself Deeper

When you’ve dug yourself deep into a pit, the only way to get out is to stop digging. This month, focus on not racking up more debt. Stop using your credit cards. Skip your weekly trips that usually have you buying too many non-essentials.

Instead, start brown-bagging your work lunch and brewing your own coffee. Get into the habit of spending only on essentials so you can make real progress toward paying down that debt.

Don’t forget to make the minimum payments on every line of credit and loan you have open. Neglecting your debt will only pull you deeper into the pit.

Taking Steps Toward Financial Improvement For The New Year

Q: I’d like to focus on improving my finances in 2020, but there are so many areas that need attention. Where do I start?

A: The start of a new year is a wonderful time to make important changes in your financial life. Lucky for you, you don’t have to go it alone. Artesia Credit Union will walk you through some financial improvements you can make this year and continue to guide you every step of the way.

We’ve broken down some of the most popular financial resolutions into concrete steps and outlined the ways Artesia Credit Union can help you implement each change into your life.

Build a budget

Why it’s crucial: Creating and sticking to a monthly budget will force you to be accountable for your spending while giving you a clear idea of your financial reality.

In 3 steps:

  • Track your spending over three months.
  • Using a spreadsheet, a pen and paper or a personal finance app like Mint, divide your expenses into categories, such as mortgage, groceries, etc. Use an average of the last three months to set a reasonable spending limit for each category.
  • Going forward, track your spending and be sure to stick to your preset limits for each category.

If your budget reveals your monthly income doesn’t cover your expenses, or you find you’re overspending in any area, look for ways to cut back.

Get out of debt

Why it’s crucial: Carrying long-term debt can mean paying exorbitant amounts of interest for years on end. It can also devastate your credit score.

In 3 steps:

  • Make a complete list of all your outstanding debts in order from smallest balance to largest.
  • Review your monthly budget and look for ways to cut back. Alternatively, you can look for ways to increase your monthly income.
  • Work on paying off your smallest debt with the money you trimmed from your budget, or with the extra income you’re pulling in. Once you’ve paid off that debt, move on to the second-smallest. Repeat until you’re completely debt-free.

How Artesia Credit Union can help: If you’re carrying multiple high-interest rate debts, consider taking out a consolidation loan to simply things. This way, you’ll only have one low-interest loan payment each month. It may even reduce the total amount you’ll pay each month. Speak to a loan officer at Artesia Credit Union today to discuss this option.

Start saving

Why it’s crucial: According to the Federal Reserve, 40 percent of Americans can’t cover a $400 expense. Living without a safety net means a relatively small, unexpected expense can throw off your finances and force you into debt. Aside for paying for emergencies, savings can help fund your long-term plans, goals and dreams.

In 3 steps:

  • Review your monthly budget to identify your biggest spending traps. Then, find ways to cut back, such as shopping with cash only, cancelling subscriptions you never use or initiating a “financial fast” one weekend each month, in which you spend no money.
  • Use all money saved to open an emergency fund and a long-term savings fund at Artesia Credit Union. It’s best to focus primarily on your emergency fund until you have 3-6 months’ worth of living expenses stashed away.
  • Set up an automatic monthly transfer from your Artesia Credit Union checking account to your Artesia Credit Union savings accounts so you never forget to feed your savings.

How Artesia Credit Union can help: We offer many different types accounts including Savings, Checking, Money Market, Share Certificates and IRA’s so your money has an excellent opportunity for growth to suite your individual needs.

Maximize your retirement contributions

Why it’s crucial: Many workplaces offer to match 401(k) contributions. These contributions aren’t taxed and they come off your paycheck, which is taxed, making participation an excellent decision. Your 401(k) withdrawals will be taxed in the future, but the compound interest your fund will accumulate until then will more than offset this cost.

In 3 steps:

  • Speak to an HR representative at your workplace to find out about your current 401(k) contributions.
  • Identify how to best maximize your 401(k) contributions going forward.
  • If you have any other retirement funds, such as an IRA or a Roth IRA, also review your contributions to determine if you are making the maximum funding allowed.

Let Artesia Credit Union help you meet your money goals this year. Together, we can make this the year you take control of your finances and start working towards a financially comfortable future.