Forget the Bling, How About Interest Compound-ing…

September 10, 2007 by Marcel

Ok, so that was my poor attempt at a rhyming title to fit this post. Please keep reading…

It looks like some rap legends are taking a little time away from making their millions to enlighten the average person on how to take care of their finances. The Hip-Hop Action Network, led by the co-founder of the hip-hop label Def Jam, discussed money management at North Carolina A&T University. Topics included everything from debt management to credit scores.

To be honest, I’m not sure how effective these guys will be. From the audience’s perspective, it’s tough to listen to a guy talk about saving money while wearing a $1 million diamond necklace around his neck. In fact, one guy even admitted that he buys “the hottest cars that come out.” From the presenters’ perspective, what makes them qualified to lecture about personal finance? Have they simply been fed a few facts about saving, investing, and debt to be able to speak using a few talking points? The type of investing the rich do is certainly different than the investing the “average person” does.

I suppose the optimist in me wants to say that, as long as he can reach ONE person and save them from a life of debt, then his efforts are commendable. But then again, the pessimist in me remembers when his house with the golden toilet was on Cribs.

Source: CNN Money

Photo: Salon.com

6 Comments

The Digerati Life said

am September 11 2007 @ 2:39 pm

Yes I heard about this! I’m glad they’re rapping about something other than what they usually rap about…
The Friday Gathering for 9/14/2007 | Gather Little By Little said

am September 14 2007 @ 6:22 am

[...] Dominance not only tells us that hip-hop artists are sharing their money management advice, but he also provides one of the funniest post titles I’ve ever [...]
Weekend Roundup 9/15/07 | beingfrugal.net said

am September 15 2007 @ 6:43 am

[...] For an interesting commentary on rap artists and personal finance advice, head to Financial Dominance. [...]
glblguy said

am September 18 2007 @ 11:01 am

Have to say, I really hope they do this. I think they are negatively influencing millions of teens.

I’ll have to keep an eye on this.
Carolina Employed Health Insurance North Self said

am February 21 2008 @ 10:35 pm

Do You Have What It Takes To Be Self-Employed?…

So you think you want to run your own small business… do you have what it takes to be successful?…
Tuning said

am October 14 2008 @ 8:17 am

Your way of presentation is impressive; I really liked the way of your approach. I have to think about that matter whether I’m in or not