About this issue.A discussion among the editorial team about the content of this issue led to a spirited debate. The discussion centered on what seemed, to some, to be a contradiction in BLACK ENTERPRISE'S wealth-building mission. On one hand, much of our financial empowerment mantra mantra (măn`trə, mŭn–), in Hinduism and Buddhism, mystic words used in ritual and meditation. A mantra is believed to be the sound form of reality, having the power to bring into being the reality it represents. , including our Shopsmart consumer section, focuses on making sensible purchases and saving money instead of spending it. On the other, our Lifestyle coverage introduces our readers to the finer things in the areas of travel. fashion, and high-end luxury items and services. Take this issue for example. Our Spring Executive Style Guide (written by Careers/Lifestyle Editor Sonia Alleyne) showcases, among other items, an $800 suit for men and an $8,000 alligator alligator, large aquatic reptile of the genus Alligator, in the same order as the crocodile. There are two species—a large type found in the S United States and a small type found in E China. Alligators differ from crocodiles in several ways. handbag for women (see "A Spring Affair"). On the flip side Flip side In the context of general equities, opposite side to a proposition or position (buy, if sell is the proposition and vice versa). , we're also featuring a book excerpt ex·cerpt n. A passage or segment taken from a longer work, such as a literary or musical composition, a document, or a film. tr.v. ex·cerpt·ed, ex·cerpt·ing, ex·cerpts 1. encouraging readers to save their money and to avoid purchasing expensive items that depreciate depreciate v. in accounting, to reduce the value of an asset each year theoretically on the basis that the assets (such as equipment, vehicles or structures) will eventually become obsolete, worn out and of little value. (See: depreciation) in value (see "Living Well With the Money You Have"). On the face of it, it's easy to conclude that we are sending mixed messages. Why do we focus on wealth building while simultaneously exposing our readers to upscale items that contribute little to building wealth? The answer is simple: These two departments work well when they work in the proper order. First, you must manage your money in a sensible way to accumulate wealth. Then, and only then, can you afford to reward yourself by purchasing whatever tickles your fancy, whether it's your dream car, first-class airfare air·fare n. Fare for travel by aircraft. Noun 1. airfare - the fare charged for traveling by airplane fare, transportation - the sum charged for riding in a public conveyance , or an expensive piece of art. Managing your finances wisely will allow you to take that trip to Tuscany, Italy, and spend a couple of nights at the luxurious Castello D'Albola wine estate (see "Here's to the Good Life," Lifestyle). However, if you own an $80,000 fully loaded SUV, but you're renting an apartment, or you have a closet full of designer shoes, but you're living paycheck to paycheck, you have it all wrong. "The Lifestyle section is very much in sync with the advice we offer our readers," explains Alleyne. "In Lifestyle, we offer a wealth of possibilities, which not only serve as options for our readers, but expose them to what's available. There have been many reports on the indiscriminate in·dis·crim·i·nate adj. 1. Not making or based on careful distinctions; unselective: an indiscriminate shopper; indiscriminate taste in music. 2. spending habits of young celebrities that clearly show a lack of exposure to fine, quality products. Our intention is not to present price tags and brands, but a standard of value and quality. How can you determine the context of doing well if you have no idea of what the best is?" We want our readers to focus on wealth building and to achieve their financial goals to enjoy the finer items featured in Lifestyle. But more importantly, it has to be done in order. "This dichotomy di·chot·o·my n. pl. di·chot·o·mies 1. Division into two usually contradictory parts or opinions: "the dichotomy of the one and the many" Louis Auchincloss. shows that people are multifaceted mul·ti·fac·et·ed adj. Having many facets or aspects. See Synonyms at versatile. Adj. 1. multifaceted - having many aspects; "a many-sided subject"; "a multifaceted undertaking"; "multifarious interests"; "the multifarious ," says Associate Editor Tanisha A. Sykes, who oversees our consumer and Shopsmart coverage. "After all, it's great to have the best of both worlds. As savvy consumers, however, you want to first identify your goals in the context of spending, so that whether your goal is to save an extra $100 to put toward an emergency savings account Savings Account A deposit account intended for funds that are expected to stay in for the short term. A savings account offers lower returns than the market rates. Notes: or to increase your luxurious lifestyle, you can do so with clarity." "Living well with the money you have gives you more money to live well in the future," says Editor-in-Chief Alfred A. Edmond Jr. "Shopsmart represents the labor it takes to build wealth, while Lifestyle is the reward you give yourself for having built it." And on a side note: You'll notice that we have reformatted the magazine to make it more accessible to our readers. Let us know what you think by sending an e-mail to beletters@blackenterprise.com. |
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