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Oprah & Gayle Want You To Stop Loaning Your Friends Money

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If I had a dollar for every time a friend has helped me when I was in a tough financial situation, I'd probably finally have enough money to pay them all back.


The thing about it is, a lot of them would never ask me to and it's totally mutual. My mom always told me to never mix friends and money and I've been careful about drawing boundaries in my personal life because of her advice. You will never see me asking a friend to pay back money I loaned, because it was never a loan. It was a gift, and according to our favorite rich auntie, that's how true friendship should be.

Recently, longtime besties Oprah and Gayle slid through with a new episode of The OG Chronicles with some clutch advice on how to maintain a nearly 20 year relationship like theirs.

"You really can't pick your family, but you can certainly pick your friends. So that might be why friendship issues can sometimes seem even more complicated than family drama. We may not be experts, but I do think we know a thing or two about friendship."

According to this dynamic duo, one of the secrets to keeping your friendship tight is to never lend money. One viewer wrote in to Oprah and Gayle with this question:

"My friend has owed me $500 for six months now. I've been trying to be understanding, but she just bought a new designer bag. How can I say something without seeming like I'm trying to tell her how to spend her money?"

Counting what's in your homegirl's pocket is never cool, but if we made an agreement, I also need my $500 back, sis. That's why Oprah says offering any amount of money to a friend that you will expect back at some point is probably a bad idea.

"Just have it as a standard policy: Don't loan friends money. Give your friend the money and say, 'Look, I'm just gonna do this for you, you don't even have to pay me back.' 'Cause loaning friends money will cause you major issues in the friendship."

According to Oprah and Gayle, their friendship has always followed this mantra, even back when Oprah was making $20K a year and Gayle was making 12. These two are the definition of "started from the bottom," and now they are here; both rich aunties in their own right, but say they couldn't have maintained that friendship without setting clear boundaries.

In a past interview, Gayle shared a memorable moment of when her bestie first started to get "Oprah money," while she and her ex husband couldn't scrounge up $10 for a movie date.

"I remember that once Billy and I didn't have $10 to go to the movies. He was in law school and I was the only one working. So for her to pull out $482 was like, wow! She goes, 'God, where'd this come from? You want it?' And I went, 'Oh, no. No. I'm good. I'm fine.' But I'm thinking, 'God, that would pay the light bill, the phone bill, the gas bill.' And she just puts it back. It's probably still in that damn pocket. She was just extending a gesture, just being nice: 'Oh, you want it?'"

In that moment, although Gayle could have certainly used that $500, she declined; and Oprah stuck that money right back in her pocket. If that's what it takes to be a good friend, then chile, maybe I don't have it in me because I definitely would have taken those lil' dollars. Later, Gayle told her homegirl that she really did need the money, but to Oprah, this was a pivotal moment in their friendship.

"You know what that's like? That is incredible for somebody like me who lives in a world where everybody wants a piece of you. I mean, people feel they deserve a piece of you. Strangers think that."

The reality is that Oprah and Gayle may never be equals in terms of financial assets, but that doesn't keep them from treating each other with the same level of respect and transparency. Oprah continued:

"She's never asked me for a dime. There is a level of mutual respect that comes from being with somebody you know doesn't want anything from you but you. There will never be an ulterior motive. I have to say, this would have been a much different relationship had that ever happened. Not that I wouldn't have done it, but in order to have a real friendship, you have to be equals."

Watch the latest episode of The OG Chronicles here!

Friends | OG Chronicles | Oprah Magazine www.youtube.com

Featured image by Joe Seer / Shutterstock.com

ACLU By ACLUSponsored

Over the past four years, we grew accustomed to a regular barrage of blatant, segregationist-style racism from the White House. Donald Trump tweeted that “the Squad," four Democratic Congresswomen who are Black, Latinx, and South Asian, should “go back" to the “corrupt" countries they came from; that same year, he called Elizabeth Warren “Pocahontas," mocking her belief that she might be descended from Native American ancestors.

But as outrageous as the racist comments Trump regularly spewed were, the racially unjust governmental actions his administration took and, in the case of COVID-19, didn't take, impacted millions more — especially Black and Brown people.

To begin to heal and move toward real racial justice, we must address not only the harms of the past four years, but also the harms tracing back to this country's origins. Racism has played an active role in the creation of our systems of education, health care, ownership, and employment, and virtually every other facet of life since this nation's founding.

Our history has shown us that it's not enough to take racist policies off the books if we are going to achieve true justice. Those past policies have structured our society and created deeply-rooted patterns and practices that can only be disrupted and reformed with new policies of similar strength and efficacy. In short, a systemic problem requires a systemic solution. To combat systemic racism, we must pursue systemic equality.

What is Systemic Racism?

A system is a collection of elements that are organized for a common purpose. Racism in America is a system that combines economic, political, and social components. That system specifically disempowers and disenfranchises Black people, while maintaining and expanding implicit and explicit advantages for white people, leading to better opportunities in jobs, education, and housing, and discrimination in the criminal legal system. For example, the country's voting systems empower white voters at the expense of voters of color, resulting in an unequal system of governance in which those communities have little voice and representation, even in policies that directly impact them.

Systemic Equality is a Systemic Solution

In the years ahead, the ACLU will pursue administrative and legislative campaigns targeting the Biden-Harris administration and Congress. We will leverage legal advocacy to dismantle systemic barriers, and will work with our affiliates to change policies nearer to the communities most harmed by these legacies. The goal is to build a nation where every person can achieve their highest potential, unhampered by structural and institutional racism.

To begin, in 2021, we believe the Biden administration and Congress should take the following crucial steps to advance systemic equality:

Voting Rights

The administration must issue an executive order creating a Justice Department lead staff position on voting rights violations in every U.S. Attorney office. We are seeing a flood of unlawful restrictions on voting across the country, and at every level of state and local government. This nationwide problem requires nationwide investigatory and enforcement resources. Even if it requires new training and approval protocols, a new voting rights enforcement program with the participation of all 93 U.S. Attorney offices is the best way to help ensure nationwide enforcement of voting rights laws.

These assistant U.S. attorneys should begin by ensuring that every American in the custody of the Bureau of Prisons who is eligible to vote can vote, and monitor the Census and redistricting process to fight the dilution of voting power in communities of color.

We are also calling on Congress to pass the John Lewis Voting Rights Advancement Act to finally create a fair and equal national voting system, the cause for which John Lewis devoted his life.

Student Debt

Black borrowers pay more than other students for the same degrees, and graduate with an average of $7,400 more in debt than their white peers. In the years following graduation, the debt gap more than triples. Nearly half of Black borrowers will default within 12 years. In other words, for Black Americans, the American dream costs more. Last week, Majority Leader Chuck Schumer and Sen. Elizabeth Warren, along with House Reps. Ayanna Pressley, Maxine Waters, and others, called on President Biden to cancel up to $50,000 in federal student loan debt per borrower.

We couldn't agree more. By forgiving $50,000 of student debt, President Biden can unleash pent up economic potential in Black communities, while relieving them of a burden that forestalls so many hopes and dreams. Black women in particular will benefit from this executive action, as they are proportionately the most indebted group of all Americans.

Postal Banking

In both low and high income majority-Black communities, traditional bank branches are 50 percent more likely to close than in white communities. The result is that nearly 50 percent of Black Americans are unbanked or underbanked, and many pay more than $2,000 in fees associated with subprime financial institutions. Over their lifetime, those fees can add up to as much as two years of annual income for the average Black family.

The U.S. Postal Service can and should meet this crisis by providing competitive, low-cost financial services to help advance economic equality. We call on President Biden to appoint new members to the Postal Board of Governors so that the Post Office can do the work of providing essential services to every American.

Fair Housing

Across the country, millions of people are living in communities of concentrated poverty, including 26 percent of all Black children. The Biden administration should again implement the 2015 Affirmatively Furthering Fair Housing rule, which required localities that receive federal funds for housing to investigate and address barriers to fair housing and patterns or practices that promote bias. In 1980, the average Black person lived in a neighborhood that was 62 percent Black and 31 percent white. By 2010, the average Black person's neighborhood was 48 percent Black and 34 percent white. Reinstating the Obama-era Fair Housing Rule will combat this ongoing segregation and set us on a path to true integration.

Congress should also pass the American Housing and Economic Mobility Act, or a similar measure, to finally redress the legacy of redlining and break down the walls of segregation once and for all.

Broadband Access

To realize broadband's potential to benefit our democracy and connect us to one another, all people in the United States must have equal access and broadband must be made affordable for the most vulnerable. Yet today, 15 percent of American households with school-age children do not have subscriptions to any form of broadband, including one-quarter of Black households (an additional 23 percent of African Americans are “smartphone-only" internet users, meaning they lack traditional home broadband service but do own a smartphone, which is insufficient to attend class, do homework, or apply for a job). The Biden administration, Federal Communications Commission, and Congress must develop and implement plans to increase funding for broadband to expand universal access.

Enhanced, Refundable Child Tax Credits

The United States faces a crisis of child poverty. Seventeen percent of all American children are impoverished — a rate higher than not just peer nations like Canada and the U.K., but Mexico and Russia as well. Currently, more than 50 percent of Black and Latinx children in the U.S. do not qualify for the full benefit, compared to 23 percent of white children, and nearly one in five Black children do not receive any credit at all.

To combat this crisis, President Biden and Congress should enhance the child tax credit and make it fully refundable. If we enhance the child tax credit, we can cut child poverty by 40 percent and instantly lift over 50 percent of Black children out of poverty.

Reparations

We cannot repair harms that we have not fully diagnosed. We must commit to a thorough examination of the impact of the legacy of chattel slavery on racial inequality today. In 2021, Congress must pass H.R. 40, which would establish a commission to study reparations and make recommendations for Black Americans.

The Long View

For the past century, the ACLU has fought for racial justice in legislatures and in courts, including through several landmark Supreme Court cases. While the court has not always ruled in favor of racial justice, incremental wins throughout history have helped to chip away at different forms of racism such as school segregation ( Brown v. Board), racial bias in the criminal legal system (Powell v. Alabama, i.e. the Scottsboro Boys), and marriage inequality (Loving v. Virginia). While these landmark victories initiated necessary reforms, they were only a starting point.

Systemic racism continues to pervade the lives of Black people through voter suppression, lack of financial services, housing discrimination, and other areas. More than anything, doing this work has taught the ACLU that we must fight on every front in order to overcome our country's legacies of racism. That is what our Systemic Equality agenda is all about.

In the weeks ahead, we will both expand on our views of why these campaigns are crucial to systemic equality and signal the path this country must take. We will also dive into our work to build organizing, advocacy, and legal power in the South — a region with a unique history of racial oppression and violence alongside a rich history of antiracist organizing and advocacy. We are committed to four principles throughout this campaign: reconciliation, access, prosperity, and empowerment. We hope that our actions can meet our ambition to, as Dr. King said, lead this nation to live out the true meaning of its creed.

What you can do:
Take the pledge: Systemic Equality Agenda
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