Young Jeezy’s Guide To Beating The Recession
Photo: Jordan Hollender
When Jeezy decided to call his superb third solo album The Recession, America’s financial crisis was just starting to bubble up from the housing market. But as we near the election, the state of the economy has taken center stage. Who better to tell us how to survive the recession than the thug motivator who actually predicted the collapse? Read on below for the Snowman’s six financial tips to get you through tough times…
TIP #1: TRIM THE FAT.
“During a recession, you cut back on things. It isn't the time to buy a new crib or a new car. It's mostly about maintaining. Girlfriends have to understand that, too'it would be in her best interest if I weren't spending all the money. A drought is a drought, baby.”
TIP #2: MAKE SMART INVESTMENTS.
“I like to invest in things where I can be hands-on. I've always invested in real estate, but now's the time. I've been buying up a lot of shit because the market's down. It makes sense to buy now because a lot of shit's in foreclosure'but at the same time, you have to wait until it turns back around to sell the shit.”
TIP #3: KEEP YOUR EAR TO THE STREET.
“The streets dictate everything, even the economy. If the streets were eating right now, nobody would care if gas was five dollars. Who give a fuck, if I can pay for it? It's when you don't have it to pay that you sit there debating, Do I fill up my car, or do I just get a half a tank to make sure I can eat for the rest of the week?”
TIP #4: DIVERSIFY YOUR HUSTLE.
“I try to get cash without covering the lines of who I am. If you look at anybody that's really just had it like that, they always had some other shit going on. You take Jay-Z, Puff'that's their way of life. They go out and create a new opportunities and then bring it back to music.”
TIP #5: USE PAPER, NOT PLASTIC.
“I'm better with cash than I will ever be with a credit card. If you got $5,000 in your pocket and you know it's going to cost you $1,000 to get through your week, you are going to count that $5,000 as if it was a bank. If you blow the whole $5,000 and you know it takes you $1,000 to live per week, then you ain't recession-proof'you're about to be fucked up.”
TIP #6: SWIM WITH THE LOAN SHARKS.
“When money's tight like now, people don't want to pay their debts, so you definitely have to kind of trick them. You have to make them feel good about the situation, like everything's all right. Find where they be at, and then roll up on them.”
This article originally appeared in Complex’s October 2008 issue.
Related:
-Inside Young Jeezy’s The Recession
-Mantras: Young Jeezy
-Rappers Love Women Who Love Cocaine
-Buy The Recession
Melody October 15, 2008 at 5:00 pm
This is ridiculous in every way, but I absolutely have to call his bluff on #2.
People who invest in real estate right now are going to be seriously f***ed in the long-term. Real incomes are not rising, and won’t be for at least a decade. If you’re buying a home as an anything other than a place to put your head down at night, you ain’t gonna sell it for more than you paid, like, ever.
This is why the housing bubble is popping right now! People have mortgages for more money than their house is worth (because the house’s worth is determined by how much another buyer is willing and/or able to pay). We haven’t seen the lowest prices yet, and won’t for a few months now.
Wait 5 months before buying that “investment property†(that’s when I’m betting the market will fully crash), and plan on cashing out in two decades, in order to make a profit.
On the other hand, I wouldn’t mind someone like Jeezy as my landlord. I’d always pay on time, so he’d never have to shoot me, and I could probably “barter†a few things against my rent.