What’s up Fresh, it’s our turn baby!
So the other day, I’m at the gym trying to get a decent workout in. I listen to a wide array of music but on this day, I decided to Spotify “2000’s Rap.” Many of the songs reminded me of high school parties, the songs we used to listen to non-stop in college, and some songs I wish I never heard again. One song that any 30 year old undoubtedly jammed extremely hard to is “Still Fly” by Big Tymers. I heard it on the playlist and the financial advisor in me was shaking my head. Let’s sit back and learn how not to personal finance…
Gator boots, with a pimped out Gucci suit
…ain’t got no job, but I stay sharp.
I’m all for staying sharp. I mean, don’t start dressing all sloppy. But no job and you’re wearing Gucci suits? And not your everyday Gucci suits but pimped out ones? I would reconsider.
(Are you spending to “Keep up with the Joneses”? The Joneses won’t pay your retirement bills.)
Can’t pay my rent, cause all my money’s spent
…but that’s OK, cause I’m still fly.
If you can’t pay your rent, you’re not fly. All of the Gucci suits in the world won’t matter when you’re homeless.
(Need help budgeting? What is the Optimal Budget?)
Got everything in my momma’s name
…but I’m hood rich da dada dada da.
You’ve already mentioned you have no job, should you have anything in your momma’s name? Nah, now you’re ruining her credit too. Not a good look.
Older Americans are struggling financially. More and more people are relying solely on Social Security in retirement and are carrying debt long into retirement. Set up the good habits now so that you don’t become a part of these statistics. Stop being hood rich.
Things you shouldn’t spend money on if you have no job and can’t afford your rent:
- A G-Wagon (that’s so fly)
- Crocodile seats in your truck
- Fendi steering wheel or Armani dashboard
- A Cadillac Escalade with a chromed out nose
- 4 fifteens, even if you can’t see the wires
- A Superman Benz that you scored from Shaq
Conclusion: Are you making smart financial decisions or are you a Big Tymer?
This was fun. But really, building long-term wealth is cool. Overspending to appear rich isn’t cool. Get it together.
And then I heard BOOM from the amplifiers.