THE YOUTH: FUTURE STAKEHOLDERS IN THE DEVELOPMENT OF OUR ECONOMY
Financial Rhythms & Lessons as Hip Hop Music Turns 50
“We cannot always build the future for our youth, but we can build our youth for the future.” – US President, Franklin D. Roosevelt.
Financial literacy is a core life skill for participating in modern society and our youth are growing up in an increasingly complex world where they will eventually need to take charge of our financial future.
Unfortunately, today’s young adults have the lowest levels of financial literacy. Even from an early age, our youth need to develop the skills to choose between different career and education options and to manage any discretionary funds they may have, whether from allowances or part time jobs.
For Millennials, the 2008 financial crisis and the Great Recession resulted in significant unemployment, huge student debt and a lack of meaningful jobs. Now, for Generation Z, COVID-19 has caused economic disruptions. Young people have every right to be deeply concerned, but we cannot allow these converging crises to stifle the development of the next generation. The youth are the ones with the most innovative ideas and energy to build a better society for tomorrow.
Engaging young people enriches our national institutions and processes. If we take just one critical aspect of empowering the youth, either through skills or economically, we not only engage them in creating sustainable economic solutions for themselves and their dependents, but we also elevate our competitiveness and productivity as a nation.
The YOLO Summit will be held on Sept 23 & 24, 2023 from 10am – 5pm. It will highlight how the youth can be agents of change when empowered with the knowledge to make good financial decisions to create a successful future. The youth will engage in discussions about key issues that will affect their future and our country’s development. For more information visit samuelfieldsconsulting.com
NEXT EPISODE OF LIKKLE BYTE IDEAS
This year is shaping up as a time when Antiguan and Barbudan women are “finding their rhythm” and taking the spotlight as innovators and achievers. This week’s guests will be Renee Edwards-Ambrose, a mechanical engineer and Tamorla Millet, a burgeoning entrepreneur. They will share their experiences as change agents and future stakeholders in the development of our economy. Tune in on Sept 20th at 5PM. Facebook link: https://www.facebook.com/events/637359318467362
YouTube link: https://www.youtube.com/watch?v=1HLHJSOVTp4
FINANCIAL RHYTHMS & LESSONS FROM HIP HOP MUSIC
The beats, flows, inspirational lyrics and the life lessons embedded in hip-hop music continue to have a powerful impact on young people. This year marks the 50th anniversary of the creation of hip hop music, which has been and still is greatly influenced by Latin American and Caribbean musical traditions. Many of the founding fathers of hip hop were of Latin American and/or Caribbean origin, including DJ Kool Herc (Jamaican), DJ Disco Wiz (Puerto Rican and Cuban descent), Grandmaster Flash (Bajan), and Afrika Bambaataa (Jamaican and Bajan descent).
Many of today’s youth see hip hop music as a positive thing. It created a culture that connected various neighborhoods across New York City through the enjoyment of music. It stimulated friendly competition and acted as an outlet for creative expression for rebellious youth.
A mural commemorating Biggie Smalls in Bed-Stuy, Brooklyn
Let’s look at some of the best personal finance lessons from rap lyrics and we will begin with the Big Poppa himself, Biggie Smalls, whose roots are in Jamaica. He was one of the first rappers to glorify his “rags-to-riches” story and his music is a celebration of his hustle and success. His songs are aspirational and inspiring and are also still relevant. A vast majority of Millennials are still in the “negative” as 60% with little savings and many have fallen behind in their bills.
Biggie also taught us that the key to unlocking wealth is to follow our hearts and that making money and finding joy comes from doing what you love. Notably, Biggie was writing these raps when he was 20 years old and died at only 24. His wisdom was well beyond his years.
Biggie’s Money Quotes and Personal Finance Lessons:
• Get Out of Debt: “Damn right I like the life I live because I went from negative to positive.”
• Follow Your Passion and Money Will Follow: “Stay far from timid and only make moves when your heart is in it.”
• More Money Brings More Problems: “I don’t know what, they want from me, it’s like the more money we come across the more problems we see.”
“Music can help us develop a better understanding of ourselves and our relationship with money. We can build financial habits that resonate with our personal identity, as we discover how we process information and how to effectively communicate and collaborate. Understanding our finances impacts more than our wallets, it gives us the skills to thrive,” Dyalekt said.
In the US, Hip-hop is an industry with an economic impact of $16 billion and has launched Black-owned businesses in music, film, fashion, and advertising for creatives that curated the culture. Rappers have turned into entrepreneurs, spurring growth for other Black-owned businesses, building generational wealth, and investing in the communities that nurtured them.
“People wanted to build their own economy, and Biggie said it best: ‘Never thought hip-hop would take us this far.’ Many Hip-hop creatives and the businesses that sprung from them didn’t have corporate grooming or business degrees, but with financial education, hip hop leaders such as Queen Latifah, LL COOL J, and Diddy have becomemulti-hyphenates — rappers, actors, and entrepreneurs,” Dyalekt said.
The YOLO Summit will connect Hip Hop Music and Finance. MC Dyalekt, co-founder of Pockets Change, a US based finance education organization. Hailing from the island of St. Croix, he will deliver the keynote address at the conference and tap into his experiences growing up with Caribbean music. Under the guidance of Dyalekt, the youth will also have a chance to share their personal financial lessons by creating and performing their own “rhythms and rhymes” at the FREE Money Jam Concert which will be the closing session at the conference.
To learn more about the Money Jam click on: http://www.pocketschange.com/hip-hop-finance
LAST EPISODE OF LIKKLE BYTE IDEAS
Our last guest was Humroy Wright of H. Wright Promotions, one of our Youth Financial Ambassadors. He is known for his many entrepreneurial pursuits, including the well known Fete, Sun’s Out Buns Out (SOBO) and his bar, The Wright Room. Humroy recently made the decision to become a full fledged entrepreneur. He discussed the considerations that he had to make to turn his aspirations into action. Click on: https://www.youtube.com/live/x-LIqndvLFc?si=HU4GGrEakMJn8-Lh
LESS THAN 1 WEEK UNTIL YOLO SUMMIT 2023
SFCG will co-sponsor the YOLO Summit with Pockets Change, a US-based group of award winning financial educators. This FREE conference will focus on Youth, Opportunities, Lessons and Outcomes in finance and will be held on Sept 23 & 24, 2023 from 10am – 5pm. This conference will address a range of financial topics that are critical to the youth between the ages of 15 – 35. The venue for the YOLO Summit will be Julee’s on Tanner and Cross Streets. Registration is FREE at samuelfieldsconsulting.com.
YOLO 2023 will feature dynamic speakers and influencers who will utilize music, UI in culture and other learning tools to facilitate engaging financial conversations among the youth. One of the highlights will be an interactive and challenging team-building treasure hunt that will take the youth on a journey to explore St. John’s through a business lens, in a fun, safe, unique, and engaging exercise.
We are grateful to our sponsors: The Citizen By Investment Unit, First Caribbean International Bank and Anjo Holdings Ltd.
FREE REGISTRATION FOR THE MONEY JAM
at YOLO SUMMIT 2023
Changing Your Money Mindset
Another highlight of the YOLO Summit will be the Money Jam, organized byPockets Change, a US-based team of financial educators. Known for their annual Hip Hop FinFest, Dyalekt, one of the organizers of this unique concert, will help the youth “find their financial rhythm,” through knowledge, creativity and self-expression.
The Money Jam will inspire better financial choices and nurture creativity among the youth. Participants will tell their “money story” by combining spoken word, music, dance, art, culture to create original songs and performances based on financial lessons. This FREE event will focus on “financial freedom, financial education, financial empowerment, and most importantly, changing the financial mindset. To enter or learn more about the YOLO Summit 2023: https://t.ly/HU_Dn
WIN CA$H & PRIZES AT THE YOLO TREASURE HUNT
On Sunda at 3PM, there will be a YOLO Treasure Hunt around St. John’s, designed to help the youth solve business problems. Teams of 2 or more participants will work together to improve their communication and problem-solving skills. They will embark on an exploratory learning exercise to collect clues and complete challenges about the Five Money Musts. The winning team will receive cash and prizes. TO LEARN MORE, visit: samuelfieldsconsulting.com
SIGN UP TO BECOME A YOUTH FINANCIAL AMBASSADOR
The Youth Financial Ambassador Program is an initiative designed for Antiguans and Barbudans ages 15 – 35 who are committed to leveling up their financial habits. Led by young people, for young people, members receive free mentorship and financial coaching from SamuelFields Consulting Group and benefit from entrepreneurship and networking opportunities with the business community. https://t.ly/rmT-S
At the YOLO Summit, Ambassadors will lead roundtable discussions about innovative ways to improve money management skills among their peers. Youth Finance Ambassadors will receive a Certificate of Achievement, in recognition of their commitment to building a successful financial future. TO LEARN MORE visit: samuelfieldsconsulting.com
ABOUT THE SHOW
LIKKLE BYTE IDEAS is a weekly digital show sponsored by SamuelFields Consulting Group (SFCG). It is the brainchild of cohosts, Derede Whitlock (CMO) and Megan Samuel-Fields (CEO). Every week, dynamic guests discuss financial topics as part of their lifestyle journey, while connecting the importance of financial well-being to their overall health. Viewers walk away with real ideas that can be put to work immediately.
Youth Entrepreneurship – Turining Aspirations into Actions
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How hip-hop spurred the growth in Black businesses and financial empowerment
https://finance.yahoo.com/news/how-hip-hop-spurred-the-growth-in-black-businesses-and-financial-empowerment-130549339.html
SFCG Announces Speaker Lineup and Agenda for YOLO 2023 Summit
https://antiguanewsroom.com/sfcg-announces-speaker-lineup-and-agenda-for-yolo-2023-summit/
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