21 Money Lessons From Nipsey Hussle's Victory Lap

21 Money Lessons From Nipsey Hussle's Victory Lap

Source: Rap-Up

I’m a keep it 100. Nipsey Hussle is my favorite rapper. Period. If you know me or have been following my journey here at Black Market Exchange for some time then you know I’m an avid fan.

Dr. Eric L. Patrick

To show my loyalty to the Marathon, here are two articles I wrote to explain why:

6 Investing Lessons from Nipsey Hussle

The Nipsey Hussle Effect

As you can see, Neighborhood Nip is about that cash homie and I’m here for it.

As a Certified Financial Educator with a deep love for hip-hop, it only makes sense that Nipsey would reign supreme among the sea of other rappers in the game. With that being said, I’d like to introduce more money lessons that can be learned courtesy of his latest release, Victory Lap.

Nipsey  Hussle Victory Lap Album Cover

(Source: XXL)

“I got checks and balance.” from Victory Lap feat. Stacy Barthe

The phrase “checks and balances” is nothing new, particularly in politics, and in this marathon it’s providing insight as to how to manage your money better.

The best way to keep up with your checks while monitoring your balances (i.e. expenses) is to use a budget. Now I ain’t saying you have to have a zero-based budget like the homie Dave Ramsey, but you do need to check that cash flow to make sure you’re not paying too much for something or overextending your coins on things you don’t need.

“White boy in Manhattan, pay my tax.” from Rap N***s

Okay, at first glance this one may be a little confusing so let me clear the air. Nipsey is a smart businessman and knows the importance of paying his taxes to keep the IRS off his back and block. Since transitioning from the street life to going legit, he knows how valuable a tax preparer, accountant, or financial planner can be when it comes to managing his dough.

The best part is, whoever handles your taxes, which must be done annually if you ain’t know, doesn’t even have to live where you live. Nipsey is LA born and bread but states his tax guy is thousands of miles away in NY.

Personally, I live in TX and my tax guy is in NC.

“In the end, you have to protect yourself at all times.” - Floyd Mayweather

Floyd Mayweather

“Open trust accounts deposit racks.” from Rap N***s

Trusts have been in place for a long time and the super rich (and wealthy) have taken full advantage. To brush up on what a trust is, peep game.

Nipsey not only has a daughter but now a son with actress Lauren London. So it’s only right he manage his money right today, tomorrow, and for his legacy. This isn’t the first time he’s mentioned trust funds in his raps though. Back when The Marathon dropped in 2010, he spit on Love?, “Trust funds for Imani, in case this life take me.” Needless to say, his kids can trust that pops is making the right moves in regards to their future well-being financially.

If you’re considering opening a trust fund for kids, be sure to consult a lawyer and make sure it’s set up right. You don’t ever want your child to be in a situation where he or she can’t access the trust’s assets on a technicality.

“Million dollar life insurance on my flesh.” from Rap N***s