Financial literacy — hip-hop style

Thu, May. 18, 2006
Florida Memorial College News

The Hip-Hop Summit Action Network, its chairman Russell Simmons and its president/CEO Benjamin Chavis have addressed several topics with the hip-hop community over the past five years — from public education and freedom of speech to voting.

The latest topic is finances, and this Saturday the network and its leaders will bring their Hip-Hop Summit on Financial Empowerment to Florida Memorial University’s A. Chester Robinson Athletic Center in Miami Gardens.

Albert Smith, president of FMU, the educational partner of the summit, will give the opening address.

The summit’s ‘’Get Your Money Right'’ national tour, now in its second year, brings together celebrities and Chrysler Financial experts to speak to students and community members about the importance of financial literacy.

Topics to be covered include the basics of banking, home ownership, repairing bad credit and understanding credit scores, entrepreneurship and vehicle financing.

The summit is a grassroots effort to help engage young people in discussions about the importance of personal finance.

‘’Hip-hop is about improving the quality of life for all people,'’ Simmons said. “It is our mission to raise the level of consciousness among young adults about the importance of financial literacy and empowerment. We are committed to helping people get themselves out of poverty.'’

Chavis described Miami as “one of the major centers of hip-hop culture.'’

‘’Given the city’s diversity and strong traditions of musical genius, the Miami Hip-Hop Summit will be one of the most diverse and culturally stimulating summits of the 2006 tour,'’ Chavis said. “Our focus is on financial literacy and empowerment in the context of celebrating the evolution of hip-hop in Miami and throughout the Southeast region of the United States, as well as across Latin America.'’

The initiative embraces not only African Americans but also Latinos.

‘’The Hip-Hop Summit Action Network proudly acknowledges the contributions of Latinos to the evolution of hip-hop,'’ said Jasmin Frangul, director of Hispanic Affairs for Rush Communications. ‘The `Get Your Money Right’ tour utilizes the power of education which transcends racial barriers to nurture the minds of our young people and help them to make better choices for their financial futures.'’

A ‘’Get Your Money Right'’ workbook, which will be given to all participants, is available in English and Spanish and may be downloaded from www.hsan.org.

Media partners for the Miami Hip-Hop Summit on Financial Empowerment are WMIB-FM 103.5 The Beat and WMGE-FM Mega 94.9.

Community partners include the Urban League of Greater Miami and the Historically Black Colleges and Universities Network.
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