This past weekend, hip-hop phenoms L.L. Cool J, Nas, Alicia Keys, and T.I., as well as financial experts, schooled their fans on being financially responsible. Nas states,
It’s time that we do something to educate our kids…We’ve got to think about our future, think about tomorrow. It’s beyond the corner, it’s beyond the jails. We’ve got to think about growing old in this game.
It saddens me that this article was on the back page of the newspaper, because this message won’t get played on any of the music channels, radio or television, that this demographic tunes in to.
As I stated before, I tutor underprivileged kids from low income neighborhoods at least once a week. The majority of these kids adores and imitates the hip-hop lifestyle, the lifestyle with flashy gold and platinum teeth, 22-inch aluminum alloy wheels, and Lincoln Navigators with an XBox 360. These kids are immersed in this lifestyle, without ever being taught a feasible way to get there, and without ever learning the financial consequences of obtaining that lifestyle without the proper tools.
There needs to be more celebrity endorsement of making prudent financial decisions, whether it be hip-hop, punk, rock or movie stars. While many of us are smart enough to make these decisions on our own, there are many who will follow their favorite celebrity to the depths of hell.
Maybe Bradgelina can name their newborn “Save” or “Interest” or some other personal finance moniker.