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Here we are in the oscillating success of Hip-Hop. Many believe Hip-Hop is dead, the economy… well ya’ll know how bad it is, many of us are barely making it to work due to gas prices, losing our homes to foreclosure, and the list goes on. Well, Hip-Hop elite are not all living like 50, Jay-Z, or P.Diddy some Hip-Hop elite are feeling these financial woes too. Scott Storch, Suge Knight, and I am sure more are facing foreclosure nevertheless, what is the real problem? Is it really the economy, Bush, or is it bad money management? Well it may be a little bit of all or others but something we have immediate control is our money management. Hip-Hop as a culture that has limited means and when blessed with financial success our role models are usually street hustlers. So when we reach such financial success at a young age, freshly educated by purchasing a new Benz or that 645 drop is how you let everyone know your stomach isn’t grumbling no more, we spend our cash before we even counted it!!! I am not saying this is the case for everyone but this case is in a little bit of everyone. The Hip-Hop community needs to get more educated about our investments!!! We need to adopt better mindsets, principles, and most important education! Usually if you made a million a year you should not be buying a 10 million dollar house (even though if the bank approved me I just might sign LOL). Really you should be looking MUCH lower (100K-250K max). However, nobody knows you better than you do, you know what you can handle, and you know what’s in the future for yourself. Just remember have a “millionaire mind” spending but a “Hip-Hop mind” when recording.
Overall, we do not need to follow the Jones’s or feel “New is best” be sound, educate yourself and think long term, and ohhh… pay your bills!!! |
Tags: 50 cent, Hip-Hop Entertainment, Jay-Z, money, p. diddy, Rap Music, scott storch, suge knight
