Financial Lessons Learned from Hip-Hop

The culture of hip-hop has taught us a lot of things. Hip-Hop is not just a culture but it is a lifestyle as well. Many people don’t realize that hip-hop can teach us financial lessons too. One may think how can hip-hop teach us financial lessons when all the artist do is floss and brag about their jewelry, cars, clothes and lots of materialist things. If we focus on the lyrics and interviews, then we can learn a financial tip or two from our favorite rapper.  In the article from Bankrate, 'MoMoney, Mo Problems'? 7 hip-hop financial lessons anybody can pick up the financial advice that these rappers quote in their lyrics.

            The article presents several rappers who talk about financial tips in their songs. Common states in his album in 1994 that "But once you get grown and out on your own/ Bills upon bills upon bills is what you have/ Before you get your check then you already spent half." A CFP professional president of Wealth and Business Planning Group suggests that the lyrics are telling one that the way to escape the cycle of living paycheck to paycheck is keep your bills minimal, and, "Try always to pay yourself first." To do that, Reyes recommends saving 10 percent of your income in an emergency account until you have at least three to six months' of living expenses stockpiled, preferably more.

            The article goes on to display several artist and their lyrics and the financial tips that’s applies to their lyrics. They can be found below.

·      "Floss a little; invest up in a mutual fund."

- Busta Rhymes, "Dangerous" < Financial Tip = Research and start a mutual fund

·      "Hold off on all the jewelry and the cars. Straight up ... (the rap business is) not a 9-to-5. You go to work for 40 hours a week, you're not going to get the same amount of money ... every week because it doesn’t work like that."

- Yung Joc, in an interview with HollywoodHeavy.com < Financial Tip= Don’t spend your income on so much materialistic things.

·      "I'm not a businessman. I'm a business, man!"

- Jay-Z in Kanye West's "Diamonds from Sierra Leone (Remix)" < Financial Tip= Treating yourself as a business which is a great way to cover your financial bases

·      "I used to think that if I bought stuff that showed the world how much money I made I'd be happy. But that doesn't work. For me, success was always going to be a Lamborghini. But now I've got it, it just sits on my drive. My Rolls-Royce has less than nine miles on the clock."

- 50 Cent, in an interview with the Daily Mail < Financial Tip= Before you invest in assets such as cars that will depreciate, look at investments that can increase your worth.

·      "It's like the more money we come across/ The more problems we see."

- Kelly Price in Notorious B.I.G.'s "Mo Money Mo Problems" featuring Mase and Puff Daddy < Financial Tip= Streamline your accounts, make individual retirement account and coordinate your assets.

·      "I always say if you can't buy it three times over, you can't afford it. Don't drive a Bentley on a Benz income."

- Slim Thug's book, "Howto Survive in a Recession" < Financial Tip= Only buying what you can afford and live within your means.

Overall, anybody can take these financial tips and use them in their personal life or business finances. I will take these financial tips in my personal life and when I start my Entertainment Company. Its good to know that Hip-Hop just don’t include hip beats and lyrical content but hip hop also includes financial tips that can help us financially.