Girl, Get Your Credit Straight!

Chapter One
Why We Debt: The Emotional and Cultural Factors at the Root of Your Debt Balance


It doesn t take a genius to understand that looks can sometimes be deceiving. A case in point is a sharp young sister named Deena. The classy, professional-looking twenty five year old sat confidently in the office chair wearing a Donna Karan suit, Prada shoes, and carrying a $400 Zero Halliburton briefcase. She had just sailed through her first interview at a major Chicago area bank. Mrs. Clark, the woman who would be her new boss, was clearly impressed with her. She indicated that there was every reason to believe she would soon be scheduling a second interview. For Deena, this news was a welcome relief.

I d done a lot of other jobs, like selling cosmetics and working as a waitress, Deena recalled, but becoming a teller and working with money as a stepping stone to an executive banking career just seems like the perfect fit for me. And it was coming right on time.

Years earlier, Deena had been through some rough times. As a nineteen year old college student, she became pregnant and gave birth to Tiffany. Although motherhood came as a surprise, she was determined to continue her education and expand her opportunities. Still, it was a struggle to care for herself and her bright eyed daughter. Deena often found herself overwhelmed with the responsibilities of being a single mom and a part time student. To make ends meet, she sometimes charged groceries and diapers not to mention the occasional designer clothes and shoes. When she complained to her parents that her credit card balance had risen to more than $2,000, her father suggested that she file for bankruptcy, as he had done years earlier.

It s only $2,000, she told him, feeling silly about going to all that trouble for such a small amount of money. Yet between her father s confidence in the idea and an incessant TV commercial that advocated bankruptcy and promised $99 sets you free!, Deena gave

GLINDA BRIDGFORTH is founder of Bridgforth Financial Management Group, a company that emphasizes holistic coaching. In 2006, Glinda appeared on Oprah in a five-part series called America s Debt Diet. The author of the bestsellers Girl, Get Your Money Straight! and Girl, Make Your Money Grow!, she writes articles for Essence and is featured regularly on television and radio programs nationwide. She lives with her husband in Detroit.

Praise for Girl, Get Your Money Straight! and Girl, Make Your Money Grow! A must-have guide for any woman who wants to have power over her money. Warmth, energy, and financial savvy radiate from every page. David Bach, New York Times bestselling author of The Automatic Millionaire and Start Late, Finish Rich Thoughtful, holistic, heartfelt advice. USA Today Girl, Get Your Money Straight! and Girl, Make Your Money Grow! speak to the heart and soul of sisters everywhere, and give us the practical tools we need not only to conquer our money fears but to lift our spirits and achieve our wildest dreams! Cheryl D. Broussard, author of Sister CEO and The Black Women s Guide to Financial Independence A motivating guide to claiming financial health and success that speaks to the unique money challenges of Black women and offers empowering steps to healing. Ebony This book is a must for every wise woman and her household. Bertice Berry, author of When Love Calls, You Better Answer and I m on My Way but Your Foot Is on My Head