Why People In Ghana Are Wealthier Than People In America

There is a belief that people in the West are wealthier than people in Africa. Well, they may have a higher standard of living, but most of that standard being enjoyed by people of the West is temporary.

People in the West live primarily off credit and do not own anything. They have borrowed against their future and the future of their children. They don't own any land, they don't own their homes, they don't own their cars and they must even finance things like electronics, furniture and appliances.

However, Africans own their own when it is built. It may take them 10 years to build it, because they buy materials as they get the funds to do so. But once it is finished, they own it. There is very little credit for things like buying a car or an iphone. You must come up with the cash to purchase the item outright.

While the debt based system of bank credit is making inroads into Africa, it is nowhere near what it is throughout the West. People in the West finance everything from tennis shoes to furniture. This is the danger of instant gratification.

When I was young, I remember my parents paying for items over a period of months using lay-away programs at the various retail stores. There was no credit. When the item was paid off, they owned it and they took it home. Things like furniture was purchased a single piece at a time. You didn't go to the store and come home the same day with a house full of furniture that you obtained on credit like they do these days.

You can currently purchase a home in our community for half price. Just check out our website for requirements.

Eric McNeal

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About Me

To me, being FREE means that you're Financially Independent, Responsible for Self, Enjoying Life, & Empowering Others. Over the past 25 years, I've built two multimillion dollar companies, consulted and worked with the world's largest corporations, experienced many failures along the way, and repatriated from the US to Ghana, where I built an off grid self-sustainable home in the mountains. Join me as I share with you the good, the bad and the ugly of my entrepreneurial journey, my life journey and my African repatriation journey which all helped me to be FREE, and I show you how to do the same. Ooorahhh Uhuru! Now Be FREE.

#befree #migratingculture #repatriation #ghana #africa #famuAlumni #famu #OhMyGhana #growinggoodideas #TheNeighborhood #ItsABeautifulDayInTheNeighborhood #SankofaSeries #MigratingCultureCrossing #thisisit #earthfoods #earthfoodsgh

[keepitreal-gnc]

You are so right! When I was a child growing up in rural Jamaica, we had our own land, raised our own animals, built our homes from the trees and materials around us, grew our own food, and produced our oil from coconut, parched our coffee, made our hot chocolate from the coco beans, used the cassava to make flour, and so much more. We were self-sufficient and healthy, but we didn't know that. Most of us wanted to migrate to the white man's land for a so called better life. Because we thought everything that the white man had was better than what we had. Today, I wish I could get one week of the life I had in Jamaica as a child. But, it's all gone! Jamaica has become westernized. I now know that true wealth is not a lot of money in the bank, and I don't need a lot of material things to validate me.. All I need is the basic necessity of life and peace of mind! Jesus says, "Beware! Keep yourselves from covetousness, for a man's life doesn't consist of the abundance of the things which he possesses."

[gandhibaffour]

You are 100% right In Ghana when you own you home, you only pay for electricity bills and water bills....only....how sweet it love it.

[BragseAfrica]

Indeed, everything I own, I built, I paid for. Living in Africa never felt better watching everything that's happening on the other side

[kwameachiaw]

Yes absolutely right, correct i am in Germany Bremen it has taken me 8 years to build my 6 bedrooms storey building yet i have not finished, when i finish i owned it i don't have any debt to pay.

[tmack]

Well said brother.
'DEBT IS THE WORST POVERTY'

[paawillie]

On point Eric, continue disseminating facts🧐👍🏾

[joyeofei]

You Crack me up!! Great sense of humor on quite a serious topic!! Love this channel ❤

[terrencekemble]

Eric u talking facts how many people buy houses and year 15 bank took it back all that money gone 90 % of Africans own there houses don't even talk about that IPhone never stop paying for it real talk my Brother Stay Bless

[jojoko]

Powerful vlo g on the credit traps in the financial system. Thanks for sharing facts!!!

[jhgannon]

Good advice brother! Never had a mortgage or a car payment thank God. Saving up to work on a property I have in Ghana. A good friend of mine in the Central Region would send me photos each month of his house as they built and paid for it with cash block by block. Keep sharing financial freedom to our people.

[yvesderival]

Bro Eric, I lived in the USA for over 17 years and I never believe in the credit system.

[cassandrahansberry]

Good info bro! Credit is the great illusionist!

[redsak]

Very true. This misconception has to be cleared. We own nothing in the US. Eminent domain clause can and will come for Black owned homes even after said house is fully paid for. Happens in NYC all the time.

[janicehouston]

Real facts Brother Eric 💯 🎯👍
Thank you 😊

[xenawarriorkween]

The thing is to enjoy whatever life you’ve been blessed with. There are good and bad in both places and I do my best to enjoy both.

[burntbronze.]

Don’t forget the student loans. 😀.
That Gallon right behind you is fresh organic unfiltered honey from the forest. Can’t beat that.

[turbo_tony]

Mannnn I remember that crap with the nurse. Had me hotter than fish grease when I seen that! 😡 Lol

[stallion]

Buying land in Ghana 🇬🇭 is not necessarily owned by the buyer. Most land is a long term lease for 50 or 100 years from mostly of local chief's!!! I been to Ghana and wife #1 is a Ghanaian.

[georgeasiedu]

Sir you said it all, their mindset is very bad when it comes to africa, they bash us(Africans)about everything and that's bad

[dennisbates]

Debt is just a tool and just like any tool, it can be used to improve something or sometimes to make things worse. Debt leveraged correctly for a home, or business can make you a millionaire and employ many people. Debt leverage incorrectly for cars, clothes and other luxuries only makes you a slave to that debt. By itself, debt is neither good or bad, it's all depends on what it is used for and to how it is leveraged. In 2020, the average foreclosure filing in the US was only 1.16%, this means that 98% of mortgage payments were paid on time (in pre-pandemic 2018 it was .47%)
. Also debt is a banks investment in the person. I would love to see your development aligned with a banks support. Banks (usually) provide an extra level of scrutiny before investing into a project (appraisal, title insurance). I am more likely to invest into a project that has undergone bank underwriting than a project that has not. Banks (like any business) are not perfect, but they do provide a service and can be beneficial when used correctly.