Beanie Sigel explains how easy it is to spend a 2 million check from the label.

yokuzin said:
A large amount of people live pay check to pay check. Spend it all, we will make more. Not a rap thing, it's the American way. YOLO!!!!
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Exactly, the American consumer is bombarded with advertisements to spend, spend spend.
I think I'm pretty practical and fiscally responsible for my age but I'm also realistic. I know for a fact that some on here would foolishly spend a nice percentage of the money simply for the fact that they've never had that large amount of money before. Bankruptcies occured way before rappers started receiving million dollar checks. Just ask actreess Kim Bassinger who once bought a town for a cool 20 mil before later declaring bankruptcy.
 
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benji2 said:
Exactly, the American consumer is bombarded with advertisements to spend, spend spend.
I think I'm pretty practical and fiscally responsible for my age but I'm also realistic. I know for a fact that some on here would foolishly spend a nice percentage of the money simply for the fact that they've never had that large amount of money before. Bankruptcies occured way before rappers started receiving million dollar checks. Just ask actreess Kim Bassinger who once bought a town for a cool 20 mil before later declaring bankruptcy.
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Money invested in too many small businesses is another fall. We talk so much about the people that blow money, but the ones thinking of gain lose it faster by falling for everyone else's business plans. Then they fall into that trap quick because they losing and start another.....and another. Nobody telling them to keep a security budget and invest a small percentage. Instead, beggers see the opportunity to get what they always dreamed of, and that's to own a business. And they use these ballers and rappers to get that. Because they making it rain. and while they make it rain, mo money is on their mind.....because of somebody's great idea that will bring them 100s of millions for one small investment...that sounds like the greatest idea in the world...."why didn't puffy think of this....watch out Puffy, I'm coming baby! I might only have 4 mill to my name, but after this and these other 5 great ideas...I will be at 40 with ease baby!"

Notice when the year 2000 hit, a lot of rappers also had a small label of their own as they were signed. Just about every rapper in the game had a crew of rappers thinking they about to be Puffy, Percy, Baby. Everybody in the basement talking big shit about being a CEO of some shit...talking about their business and acting as if they were some highly intelligent investor. We often skip the investors to get where we and that investor need to be, so we skip that route and get excited about the label's investment. Because a name means a lot, right? More to talk about, less to think about. If people can talk the talk then they happy....until they lose.
 
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yokuzin said:
2 mill isn't a lot unless you already owe 2 mill once you get it. Having 2 mill is a different story. Wealth is a state of mind, not a defying number. A lot of dudes are still broke with all of that money. Having the real stuff that broke people have the knock offs of. Now if it is worth it to have the real deal, cool. But why would I want jewelry that the next man has the fake of? Hell....better off saving that money and get the fake shit if you want it, right? I mean.....40k and it goes bling..........$40 and it goes bling.....nobody would know. Like someone is going to say "Oprah...you must be going broke because I know that necklace is fake." Wearing somebody's elses name, for $50k........when your name is much valuable to you than the free advertising you giving as rapper who spending petty advance money...."we love your money". $500 on clothes my name on it...same material....putting people to work that know how to do it......refer them to others. Done deal. Business without your name being screwed......get all the clothes you want for free, just because you were a customer to a nobody. Gave them hope and brought them the right business. No risks.

You are what these rappers rap about. Remember that 5.0 back in the days? 64 Impala? You could afford that without being a rapper. And they represent you more than what that other stuff was made to represent.

The 90's messed people's heads up. Time for change.
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Dude you just pretty much stated with the song thrift shop is about. I got a friend who has expensive tastes. Gets the 3 pack of american eagle boxers for 45 dollars. I get the five pack of fruit of loom for 12. I always tell him it's the same damn sweat shop. What does yours do that mine don't? People get too caught up in name brand. rappers especially.

Now onto the topic of the rest of the thread. You'll be surprised how many rappers and ball players went broke trying to invest in different businesses. Some of these guys are simply entertainers and not business men. These types would need a personal accountant. I know I would. I don't blow money, but I'm not great on business
 
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