The precise definition of finance according to FinanceWikipedia is “Financial activity is the application of a set of techniques that individuals and organizations (entities) use to manage their financial affairs, especially the differences between income and expenses and the risks of their investments" http://en.wikipedia.org/wiki/Finance. I discuss the importance of keeping track and updating financial reports as well as simple bank statements These are just some of the essentials that I believe we should all recognize as a people. There are several detrimental issues regarding our finances as a people and the view that I will advocate throughout. throughout this article is that we as African Americans don't recognize the importance of finance. So some of the topics I'm going to cover are going to be very broad. household income, banking, financing expenses, stocks and bonds, insurance and mutual financing of a home with a family. The most important source of government revenue is taxes. A large portion of government spending has been devoted to various military and defense needs. Other important areas of government spending are health, education, and interest on the national debt; and public works. My first statement would be to place greater emphasis on the suffering of the American people. The entire world is now in debt because of the government's lethargic approach to helping Americans, especially African Americans. Businesses and corporations always allow citizens to receive credit cards, but never really realize how they will be paid back. This is a dilemma we also face; A big part of being in financial debt is our mistake. One of the secrets of a successful business...... middle of paper ......n cars, entertainment, electronic gadgets and their social life. Moving will only work for you if you are sure you won't fall into this situation. The American government is corrupt, those who are rich enough can almost get anything they want from our government, whether it's tax breaks or subsidies. or policies and laws have been changed, removed or added. Now, one question that is quite obvious is whether this is right, right? If you offer our government enough money, it will put your needs on the agenda. The more money you have, the more important your needs are on the agenda. This has been the case for at least a hundred years, and the situation continues to get worse. Many have benefited, from oil companies to prison companies to defense contractors and more. The results are that many laws and policies are tailored to the needs of these powerful entities..