COLUMBIA, S.C. — Although many know Martin Luther King Jr. for his "I Have A Dream" speech, economics and eliminating poverty were at the forefront of his platform. On this Martin Luther King Jr. Day, Steven Hughes from Know Money Inc. talked about three money lessons he taught that people can use year after year.
1. Money Is A Tool -
In 1953, Martin Luther King Jr. told a congregation, “money in its proper place is a worthwhile and necessary instrument for a well-rounded life." Hughes said to practice this, you can list two or more of your money dreams that you want to accomplish and create a plan to use your income and accomplish one of your listed dreams.
2. The Wealth Gap Is Not New -
"The most critical problem in the other America is the economic problem," King stated as he talked about the urgency of eradicating poverty. Hughes said we may talk about the Wealth Gap from a racial standpoint most often, but lack of income and resources affects many communities. Martin Luther King Jr. started the Poor People's Campaign in 1968 to solve this issue. While desegregation and the right to vote were essential, Dr. King believed that African Americans and other minorities would never enter full citizenship until they had economic security. The aim of the Poor People's Campaign was to focus the nation's attention on economic inequality and poverty through nonviolent direct action.
3. Income By All Means -
In 1967 at the Southern Leadership Conference, Martin Luther King Jr. stressed the importance of increasing your take-home pay now. “We must create full employment or we must create incomes," he said. During this speech, he also mentioned the potential of someone increasing their income and the importance of managing your money. Hughes said whether you're working a full-time job or starting your own company, maintaining your money sets you apart from financially surviving to thriving.
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