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Black Homeowners Guide To Recycling Black Dollars

by Roy Primm



It makes me feel funny
Why we neglect recycling our money,
Because ignoring our financial unity
Starves our community
Take note and hear my plea.


African Americans spend more for consumer products than any other racial group as a percentage. We lead in the purchase of hair care products, entertainment, electronic equipment and a host of other consumer products.

In fact, the first place most immigrants come to when they want to start a business and succeed is the African American community. They know they'll find loyalty, little if any competition and a steady source of money ... for a long time.
According to consumer research company Neilsen Media, 46% of African-American households patronize beauty supply stores alone�almost three times the rate for other racial groups. As the saying goes "Black folks care about their hair!" ... And we prove it each year by spending over 2.75 billion dollars for creams, gels and grease.

On the other hand African Americans have less discretionary income and long-term investments. For example,  we own less homes, own less businesses and have the least amount saved in retirement accounts. 

In addition, we continue to experience one of the highest poverty and unemployment rates of all other racial groups. All this despite the billions of dollars we spend each year.

If you do the math it doesn't add up does it? As a group African Americans have $845  billion dollars of buying power ... more than most countries in the world.

So why do African Americans continue to languish on the bottom of discretionary income and asset accumulation? I am glad you asked. 

One fact continues to quietly sabotage our desire to improve our communities, economic empowerment and hope for a better future for our children.

Yes, it's the elephant in the room few people want to talk about and even fewer want to do anything about. Yet it continues year after year yanking the rug out from under the financial empowerment of African American communities. We refuse to recycle our money.

So What Do They Have That We Don't?
Take a casual walk with me through the average city in America. We'll take a walk through the latest immigrant community. The immigrants could be Asian, Armenian, Latino you name it. What actions do they take first.  

1. They set up a community. (They do it with signs, billboards, cultural symbols or simply the language).

2. They start setting up small businesses to serve each other.

3. They spend with each other first before spending with others.

4. They continue setting up new businesses to better serve their people.

5. They recycle their dollars over and over before allowing it to leave the community.

Whether you live in a bustling city or a quiet country town you see the five steps mentioned above happen over and over again.

In what seems like a few short years that tiny immigrant community turns into a vibrant financial power in that town or city. The formula is the same. Those are the 5 steps the African American community neglects, refuses or ignores doing. I am still figuring out which one it is.

Facts on  How Many Times Dollars Circulate in Different Communities. 
Although as a percentage African Americans spend the most for dozens of consumer products, African American money circulates or recycles the least among each other. Here's an example,
according to  the Harvest Institute, a Washington, D.C based Black think tank of how money circulates in various communities:

  • Money circulates in the White community unlimited times.
  • Money circulates in Jewish communities over 12 times.  
  • Money circulates in Asian communities over 9 times.
  • Money circulates in Latino communities over 6 times.
  • Money circulates in the African American community 0 - 1 time.

Why Homeowners Should Recycle Their Dollars.
A communities health is in direct proportion to how many times the money circulates or recycles in that community. Much like the blood in your body, the more it circulates the healthier your body - the less it circulates the more problems your body will have.

African American businesses and consumers have a catch-22 so-to-speak. 

Many African Americans who refuse to buy at black businesses say "black businesses prices are too high, the service is inferior or the products are below par".

But the only way African American businesses can improve is if they attract more African American consumers. The only way they can provide more jobs for people in the community is if more African Americans buy from them. It's like a domino effect.

How You Can Help
As a black homeowner you're in the best position to recycle black dollars. How? By simply buying more items and services for your home from black businesses. 

Seek out black contractors, repairmen, plumbers, carpenters and others in the real estate industry.  When you find a black business that gives good service not only patronize that business but refer friends and family to that business.

Have You Purchased From a Black Business This Week?
Don't feel guilty if you answered no to that question. Because if the latest statistics are correct you are not alone. But make a commitment today to do whatever it takes to spend your money with at least one black owned business each week.

If you don't live around a black owned business use the internet to find a black owned internet business and buy from them. The time for excuses is over, if not the day of the strong black community could soon be over.

If you can't find a black business who provides a service that�s needed in you community, why don't you consider starting one. Yes, there's a saying that states, "necessity as the mother of invention."

If you find yourself wishing you had a better (Fill in the Blank) in your community, why don't you start a business selling them?

This is how many successful businesses start. They start with average people like us. People frustrated by not being able to buy a decent peach cobbler, a dress to fit our body type - or receive good customer service. Instead of complaining or putting up with the frustration they start a business to get rid of the problem.

But not everyone has the resources or desire to start a business, but you can still do your part. You can shop and support the people who do.

As a homeowner you're at the forefront of leading the charge to recycling the black dollar. Every African American  must do there part in recycling their dollars by spending it with black businesses.

But as a homeowner you have more opportunities to spend your money with Black businesses. For example, plumbers, carpenters, home supply merchants and other home service companies as well as consumer related businesses.

Yes, it may take a little more effort and sacrifice to find a black business that provides that product or service. But with the internet it's easier now than ever before. Two excellent places to start is and

Let's try not to make any more excuses. A wise man once said you can make excuses or you can make progress but you can't do both. �Every Chance You Can Put Your Dollar In Another Black Hand.�

This week's article is dedicated to a hero of mine Muhammad Nassardeen, Founder Recycling Black Dollars. Rest in Peace my brother.


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