(BLACK PR WIRE/BCW-GREENSBORO) – Fashion trends change with the seasons, and for urban communities, fashion depicts “who you are.” Unfortunately for African American, many believe this misconception. Therefore, some spend money they don't have, and this causes debt problems.

Young African Americans look up to rappers and hip-hop artists as role models, and they tell our generation to live lasciviously. Lakecia Owens, a student at Bennett College for Women, said, “Going to an all-girl school and being from New York, I always had to stay fly (dressed well), not knowing that after graduation I would have a credit card balance over $5,000 on top of my student loans.” For some communities, purchasing knockoffs or generic products are frowned upon, forcing minorities to spend more money.

Now businesses and companies are targeting minorities, causing more debt problems. According to Business Wire, Boston Bank will launch a credit card aimed for African Americans in December. The goal is to benefit African Americans, but if the 14 out of 20 African Americans polled by this author do not know how to budget their money, how will this be beneficial?

Here are five tips on ways to save/budget your money: 1) Accumulate all bills into one, 2) Don't purchase unnecessary items, 3) Don't spend money you don't have, 4) Plan out what you need, and 5) Don't let others influence YOUR money.