What IS the disconnect between black folks and money?


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chocalate_topaz

chocalate_topaz

I wanna be your lover...
I was reading that Jermaine Dupree mess and I can't help but :smh:

How can we make millions and get broke so quick? MC Hammer, Toni "triple times broke" Braxton, TLC, folks making a killing and can't hold on to it? We all hear these stories but when its our time, REPEAT button. :noidea:

In the beginning I'll give you some leniency. But after 5 years, you should know the game and what it takes to keep playing. :lecture: Ain't no excuse then. You should be "used to" having money by that time.
 
i heard master P says on a talk show that if you give a broke person a million dollars, this time next year they will be broke again. folks just live outside of their means. just bc u got money now dont mean u gonna have it in the future. trying to buy big cars, big mansions and dont realize the up keep to those things is more expensive than actually buying it. folks just dont understand finance like they should. i aint for telling grown folks how to spend their money but damn they look pitiful when they go broke

ps chocolatey topaz it aint just us black folks dont know how to keep money. its some broke white folks that have lost everything too.
 



luvdaboom said:
i heard master P says on a talk show that if you give a broke person a million dollars, this time next year they will be broke again. folks just live outside of their means. just bc u got money now dont mean u gonna have it in the future. trying to buy big cars, big mansions and dont realize the up keep to those things is more expensive than actually buying it. folks just dont understand finance like they should. i aint for telling grown folks how to spend their money but damn they look pitiful when they go broke

ps chocolatey topaz it aint just us black folks dont know how to keep money. its some broke white folks that have lost everything too.
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yep.
Most blacks never seen that kind of money or even know someone with loot like that so when they get that $1 million check, they make the first mistake all do. They don't realize that $1 million is closer to $600,000 when taxes are counted and taken out. They go out and get all these toys and don't even have enough left for upkeep and everyday bills. They don't even think about putting most of it back and let it build.

Then the balling comes. Gotta show everybody h0ow rich and "got it" you are. For the young dumb ones like Jermaine Dupree, that means keeping up with the other dummies, doing dumb shat like throwing money away on skrippers at the club, leaving thousands on the floor for them to pick up nightly. Mofos will have $100 grand in car payments, insurance, and registration yearly alone for cars. . :lol:
 
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There is a reason money is considered the root of all evil. You do dirty things with it, and dirty results follow it.
 
chocalate_topaz said:
I was reading that Jermaine Dupree mess and I can't help but :smh:

How can we make millions and get broke so quick? MC Hammer, Toni "triple times broke" Braxton, TLC, folks making a killing and can't hold on to it? We all hear these stories but when its our time, REPEAT button. :noidea:

In the beginning I'll give you some leniency. But after 5 years, you should know the game and what it takes to keep playing. :lecture: Ain't no excuse then. You should be "used to" having money by that time.
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TLC is different. They never had any money to begin with. Pebbles had all their money.
 
Blacknbengal said:
Remember when Andre Rison had to loan them some money? LOL!!!
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That was still in the "artist getting ripped off for peanuts" days. TLC had #1 songs, CD's..........everythang and I'll bet those 3 didn't pocket $100,000 each off their 1st two platnimum CDs. Everything they had, (Cars, Condos, etc.), was in Peebles or her companies name. :lol:
 
CEE DOG said:
her ex-husband took outkast money too.......
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Why you gonna "out" Baby Face like that. He made a killing off that "Players ball" CD. Dude also made a nice little profit off another good but short lived ATLANTA group..............LOW KEY. :lol:
 
jstate83 said:
Why you gonna "out" Baby Face like that. He made a killing off that "Players ball" CD. Dude also made a nice little profit off another good but short lived ATLANTA group..............LOW KEY. :lol:
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They were killing them pockets on all the Atl artist. :lol:
 
It hard to expect some of these cats who don't come from a background of wealth and affluence to be able to handle all of sudden banking millions.

The two things most people are not used to, especially those who run into a lot money suddenly, is the amount of wealth they've accumulated and all that time to spend it.

Coupled that with being surrounded by people who don't have your best interest in mind and the inability to seek sound financial advice and folks go broke.
 



CEE DOG said:
Baby and LA Reid were killing their pockets. They only made 60K off of the first album together.
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That is what happens when artists are too geeked up only to hear themselves on the radio and dont take an interest in the business (aka money) side of it.
 
jstate83 said:
yep.
Most blacks never seen that kind of money or even know someone with loot like that so when they get that $1 million check, they make the first mistake all do. They don't realize that $1 million is closer to $600,000 when taxes are counted and taken out. They go out and get all these toys and don't even have enough left for upkeep and everyday bills. They don't even think about putting most of it back and let it build.

Then the balling comes. Gotta show everybody h0ow rich and "got it" you are. For the young dumb ones like Jermaine Dupree, that means keeping up with the other dummies, doing dumb shat like throwing money away on skrippers at the club, leaving thousands on the floor for them to pick up nightly. Mofos will have $100 grand in car payments, insurance, and registration yearly alone for cars. . :lol:
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That text is the main reason, some folks are a bunch of showoff's. Give me that mil, that ends up being 600k after tax, I will be COMPLETLY debt free, (not that I have many debts now), but no one will ever know. No fancy cars, no bling on my hands, or around my neck, no fancy clothes, may be, just may be a slightly bigger house, but that's it.
I dont need you to know how I'm living, cause if I screw it up, I dont need you to know how hard I fell.
 
chocalate_topaz said:
I was reading that Jermaine Dupree mess and I can't help but :smh:

How can we make millions and get broke so quick? MC Hammer, Toni "triple times broke" Braxton, TLC, folks making a killing and can't hold on to it? We all hear these stories but when its our time, REPEAT button. :noidea:

In the beginning I'll give you some leniency. But after 5 years, you should know the game and what it takes to keep playing. :lecture: Ain't no excuse then. You should be "used to" having money by that time.
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EDUCATION!
 
CEE DOG said:
Baby and LA Reid were killing their pockets. They only made 60K off of the first album together.
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i was just finna say u betta add LA Reid to that list. He was ripping off folks left and right. But again these folks are strait out the hood talent. They have no idea what the business side of the music game is. Same with these athletes. They can barely add and subtract
 
Folks simply over extending, spending advanced checks, paying loans for all these homes and cars, plus taking care of moma nem and all the hanger ons..

Man let me win the Lottery. I'm not going on TV or nothing. After I set up all kinds of living trust, corp and everything. I'm going to collect my loot and hide it from you. I want to look broker than I actually am. I would send family enounomous cashiers checks with no return address. They would have to sign for them but they woulnd't know it came from me. I would just be smiling like yeah I got my check in the mail too...LOL

Can you imagine how Mario Chlalmers feels when he plays with 14 million dollar players and he makes 387k...He can't even hang with his teamates...
But I bet he trys too and spends all his money...
 
jstate83 said:
Why you gonna "out" Baby Face like that. He made a killing off that "Players ball" CD. Dude also made a nice little profit off another good but short lived ATLANTA group..............LOW KEY. :lol:
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She was married to LA Reid...But you right about them raping folks...Funny thing is D wight man artist and groups always making money for the artist and the record label...
 
97JSULEGEND said:
She was married to LA Reid...But you right about them raping folks...Funny thing is D wight man artist and groups always making money for the artist and the record label...
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Yep but at that time, Baby Face and his wife Tracy, LA Reid, and Peebles was all working together. One couple in Atlanta and the other in Los Angeles. They was banking everybody money except their own from Music to Movies. Them negros got rich off Atlanta". :lol:
 
97JSULEGEND said:
She was married to LA Reid...But you right about them raping folks...Funny thing is D wight man artist and groups always making money for the artist and the record label...
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Since when? Most record deals make no money for the artist. They make their money touring.
 
jag4life said:
Since when? Most record deals make no money for the artist. They make their money touring.
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Them was the old days before ringtones, single downloading, and internet music. If someone signs a old school deal IN 2011 that takes production cost, video cost, traveling cost, ETC., 100% OUT THEIR END , they just stupid. Nobody has to take those "keep them broke" type of deals anymore. Artist can basically do it themselves now and just pay the people on their staff to keep their schedule on track.

Master P, Cash Money and Puffy Daddy showed people how to put an end to those "screw me please" deals. Negros at DEATH ROW got the message late cause SUGE fugged them royally. He just gave them a pile of chump change and a new car in DEATH ROWS name and those ghetto negros thought they was on top of the world. :lol:
 
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jstate83 said:
Them was the old days before ringtones, single downloading, and internet music. If someone signs a old school deal IN 2011 that takes production cost, video cost, traveling cost, ETC., 100% OUT THEIR END , they just stupid. Nobody has to take those "keep them broke" type of deals anymore. Artist can basically do it themselves now and just pay the people on their staff to keep their schedule on track.

Master P, Cash Money and Puffy Daddy showed people how to put an end to those "screw me please" deals. Negros at DEATH ROW got the message late cause SUGE fugged them royally. He just gave them a pile of chump change and a new car in DEATH ROWS name and those ghetto negros thought they was on top of the world. :lol:
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Believe that if you want. Most artists are still getting a small piece of the pie. The record company isn't the only hand in the pot.
 
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