slim-thug-recession

In Summer 2012, Houston rapper Slim Thug released his first book, How To Survive In A Recession.  The book was a surprise to most hip hop heads who were used to seeing Slim Thug in videos with flashy jewels and expensive cars. He even premiered once on the popular MTV Cribs showing off his sprawling home and fleet of cars. Well, years later Slim Thug decided to live a debt-free life which consisted of doing away with a few materialistic things he’d worked so hard far. He didn’t downsize because he was broke. Due to the recession, he took the smart route, man’d up, and began managing his personal finances properly.

 

Nowadays, there are more hip hop artists investing in stocks, opening businesses, and securing a great financial future for themselves and their family.  Some music videos may tell a different story. But if you listen to their lyrics, you’ll notice that many of them are offering up some great advice about business and money. Recently, MSN posted several financial related quotes spit by several of our favorite rap artists. Financial experts reviewed each lyric and believed that fans of hip hop could actually learn a thing or two if we just pay attention.  In case you can’t remember what a few of these rappers said, take a look at these lesson-filled quotes expressed by 50 Cent, Slim Thug, Yung Joc, Busta Rhymes, and Common.

 

50 Cent says, “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 in drive. My Rolls Royce has less than nine miles on the clock.” (quoted from interview with Daily Mail)

Moral of the Quote – Buying expensive items do not always guarantee happiness. Some assets, like cars, depreciate in value. So it is best to invest in assets that will increase your net worth. Then to find happiness, try giving back to the less fortunate.

 

Slim Thug says, “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.”  (quoted from How To Survive In A Recession)

Moral of the Quote – Simply. Don’t live beyond your means.

 

Yung Joc says, “Hold off on all the jewelry and cars. Straight up…(the rap business) not a 9-to-5. You go to work 40 hours a week, you’re not going to get the same amount of money…every week because it don’t work like that.” (quoted in interview with Hollywood Heavy)

Moral of the Quote – Be smart with your money. Always have it least 6 to 12 months salary saved up for hard times.

 

Busta Rhymes says, “Floss a little; invest up in a mutual fund.”  (quoted in his 1997 hit “Dangerous”)

Moral of the Quote – Diversify your portfolio. Never leave all your money in one bucket. Contact a financial advisor or stock broker and find opportunities to invest and grow your net worth.

 

Common says, “But once you get grown and out your own/Bills upon bill upon is what you have/Before you get your check then you already spent half.” (quoted in his 1994 song “Rich Man vs Poor Man”)

Moral of the Quote – Keep your bills minimal. Always store away at leat 10% of each paycheck in a separate savings account.

 

 

What do you think of the financial advice given by these artists?  Do you have any advice of your own that has proven financially effective for you?  If so, please share in the comments.