It’s tough trying to reach the next generation with money advice. If all else fails, you might encourage them to check out the advice from Slim Thug in his new book, How to Survive in a Recession. Marketing himself as “the black Suze Orman,” you’ll find Slim’s book listed in the “Humor” section on Amazon. However, some of Slim’s advice could land the book in the “Personal Finance” section as well.
Here’s some of what the rapper shares about money management:
- When u get a check put at least 50% up.
- Never buy a house with unnecessary space.
- Never have Bentley bills with a Benz salary.
- Never spend a lot of money on things you can’t get money back from.
- Never buy a car that will have you working overtime to afford.
Slim is a rapper and the youngest of seven children. Born Stayve Jerome Thomas in Texas, Slim says he learned many of these the lessons as part of his modest upbringing. Today, it’s estimated he’s worth $2 million. Asked in an interview about the biggest money mistake people tend to make, Slim responded, “They forget that they have to pay taxes and what the check says isn’t really what they have.”
According to Slim, one of his most important and easy-to-apply rules is: “If you can’t buy it 3 times over, you can’t afford it.” However, infusing humor into finances, he also admits in the interview, “I myself am even guilty of rapping about spending money in careless ways.”