“I’m Getting Money” – Part Deux: How Hip-Hop Influences Your Money

“Keeping up with the Carters” is a special guest post by my boyfriend and the second edition of “I’m Getting Money“, where MNM discusses the financial influences present in music.  He shares many of the same views in terms of finding financial freedom. He however expresses his points of view in a comic and current way. Look for his posts in the future here at Miss New Money.

“No one wants to keep up with the Jones-es anymore. For those of us under the age of 25, you may not even know who the Jones-es are. Just know that they have the best of the best at all times. The best cars, the best clothes, the biggest houses…just know if you want it and don’t have it, the Jones-es do!

These days people aren’t worried much about the Jones-es; now it’s the Carters: Lil Wayne, Jay-Z, and the newest Carter, Beyonce.

They are the biggest celebrities of 2009 with Beyonce being named Billboard Woman of the Year, Jay-Z surpassing Elvis with the most number one albums of all time, and Lil Wayne having the highest selling album and concert tour in recent history. Combined, these three individuals have reigned supreme over the music and entertainment worlds.

Don’t believe me?

Turn on your TV or radio right now and I guarantee you will see or hear at least one of them and probably many others talking about them.

But are they setting unrealistic standards for the rest of us to meet? Beyonce wanted to Upgrade Jay.

But what about the rest of us?

I for one had no idea half of the designers she mention. And we can all be certain that if we can’t pronounce it, we more than likely can’t afford it. Jay-Z is a regular fashion icon among the black community, but Maison Martin Margiela and Ralph Lauren Purple Label ain’t cheap. And we all know the exploits of Lil Wayne. In just one evening he can “make it rain” the salary of a high powered executive.

A report came out last year stating that the buying power of African Americans will reach $1.1 trillion by 2012. Buying power, also referred to as disposable income, is the amount of money that is not used for necessary and everyday expenses; i.e. food, shelter, taxes and so forth. This means in two short years, African Americans would have enough money to bailout AIG and the auto industry all on our own!

Unfortunately, our priorities are pointed in a somewhat different direction. As the Carters continue to amass great fortunes and openly share the exploits of their riches, their fans aren’t always so lucky. While dropping $40,000 in a night doesn’t phase the Carter trio, it is more than the average annual salary of the rest of us ($33, 916 in 2007).

But the Carters can’t be to blame. Or can they? I wouldn’t say so. Is it their fault they were paid so exorbitantly? Of course, not. They have worked extremely hard to reach their own personal levels of success. And we can all be certain that they won’t break their spending habits to make the rest of us feel better about ourselves.

Instead, we need to look more closely at our own spending habits and see how they align with our incomes. Each of these individuals have an estimated net worth above $100 million, and Jay-Z and Beyonce are each worth well over $300 million. With that in mind, they are entitled to spend as they see fit.

But what about the rest of us?

Before you make futile attempts to keep up with the Carters with clothes, cars, or jewelry; make a grander effort to keep up with their net worth. When you reach those levels of success, reward yourself with the most expensive food you can buy stuffed with the second most expensive food you can buy; wear clothes with the hardest names to pronounce, because you’re sure it costs too much, then light up your cigars with $100 bills. But until then throw it in a BANK!”

If you would like to contribute a guest post, email MNM at missnewmoney@gmail.com!


2 Responses

  1. […] “I’m Getting Money” – Part Deux: How Hip-Hop Influences Your Money […]

  2. […] days not only are we envious of the Joneses but we invite them into our homes. The Joneses  are online and have created a host of websites […]

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