Tuesday, March 07, 2006

"Get Your Money right" Hip-Hop financial literacy

"Get Money Right" is an attempt by Chrysler Financial and Anheuser-Bush Inc. to reach out to the youth population through Hip-Hop. Starting the 25th of March the tour will kick off visiting several different colleges providing financial speakers and hip-hop artist with financial stories. According to the Economic Policy Institute, debt in the U.S. has risen by 36% in U.S. households over the last four years. The tours intentions are to attack the "lack of knowledge" and "lack of basic knowledge" in hopes of enlighting todays youth on how to manage financial situations. The tour has aspirations of teaching basic concepts of banking, repairing and understanding credit scores, assets and wealth management, vehicle financing and home ownership.

My question is whether a hip-hop convention is the most efficient way of teaching youth the concepts of financial planning. I agree that financial control is vital in ones future, yet I feel there should be more effective ways of teaching the ways of finance.

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