Hip Hop & Money pt 2: Broke Shaming

“Why should I keep juggin' all these broke boys?

In the mall buying ice 'cause he a broke boy

I can't even kick it with these broke boys

He ain't come to buy a pack, 'cause he a broke boy”

- Playboi Carti

Hip Hop has a history of sending messages to the masses. These messages are powerful and resonate with generations long after the song stops being in rotation. Watching music videos, we see the jewelry, cars, women, and money thrown lavishly on set. These ideals are impressionable for people who want a better life than they’re presently living. Lyrics suggest wealthy lifestyles with little regard to sustaining a modest financial future. Our culture is raised with these messages and that has life-long effects on how we handle our money.

According to Girl Power Marketing, “women control over $20 trillion in spending globally.” Ladies, we “account for 85% of consumer spending”! In the words of Beyoncé, who runs the world? Girls! With money comes great responsibility and sisters we are heavily responsible for making this world go ‘round. According to Catalyst, in the US alone, women have a “buying power of $5 trillion”. You can try counting that high because I can’t.

There’s is nothing wrong with living below ones means so why do we act like it’s a sin? Not everyone wants to spend $700+ on a pair of Louboutin’s when the $30 heels at Ross do the same thing. Not everyone is invested in materialistic items that depreciate value. Whether you purchase a 2019 Maserati or a 2019 Camry, your car is still going to depreciate in value as soon as you drive it off the lot. The movement should be about investing in things that will appreciate in value and make you money.

I use to think the more expensive the item the better it is. Sometimes you get what you pay for. But buying a t-shirt on clearance for $3 is still going to cover you like a $100 Gucci shirt. They’re both going to do the same thing. PLEASE STOP GOING BROKE TO IMPRESS PEOPLE! It’s not the wisest thing you can do. If you want the $100 shirt and can afford it, by all means purchase it. If not, rock the hell out of that $3 top and be content. PLEASE STOP COMPETING WITH CELEBRITIES! We can’t compete with our favorite celebrities because their income and circumstances is far different. Allowing hip hop culture to define your lifestyle only allows you to live in the here and now. The key to building wealth is to develop beneficial long-term goals.

Tax season is here and what really grinds my gears are people who tell other people what to do with their tax money. I’ll be honest - I blow the little bit I get on vacations. I save 10% of my refund but the rest goes towards a trip or two. I’m a saver so I save 13% of my paychecks - 3% goes to Qapital, 5% to each of my savings accounts - plus I do the 52-week challenge AND I round my debit card purchases up to the nearest $2. My tax money is always viewed as an extra bonus and I choose to splurge with my extra. There are certainly better ways to use my tax money but I live how I want and you should too.

When we allow others to dictate the messages that we live our lives by, we also allow others to dictate our lives. We give them power over our wealth potential. As women we have so much economic power and many of us don’t even realize. As a collective, we can influence the masses because we have the financial backing to do so. The deadline to file taxes is April 15th. If you’re not saving or don’t have a nest egg please put some money to the side. I encourage you to enjoy your taxes but I also encourage you to do so responsibly. Take ownership of your pocketbook and ball out with sense.

-Chantelle