'Why Pay Cash?' With Tomeka Purcell
On this edition of In Black America, producer/host John L. Hanson Jr. speaks with Tomeka Lynch Purcell, educator, entrepreneur, financial coach and author of Morgan Saves For College and Why Pay Cash? Credit is Better.
Credit, what is it good for? According to Purcell, credit is the instrument that allows us to borrow — the promise to pay later on items we want. After two bankruptcies, four foreclosures and two repossessions, Purcell now trains others on how to achieve personal and professional financial goals, especially during the pandemic.
Purcell talks about the secret behind free credit reports and how to properly use them year to year, simplifying assets and liabilities, establishing a savings plan, monitoring financial growth and the importance of having a credit score tracker.