Chrysler Financial – News
November 7, 2007
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Amber Gowen, Chrysler Financial
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Atlanta Hip-Hop Summit on Financial Empowerment Draws Thousands to Learn About Financial Literacy
Russell Simmons, Jermaine Dupri, Yung Joc, Cassidy, Hurricane Chris, Doug E. Fresh, LeToya Luckett, Belly, Young Berg, Sean "The Pen" Garrett, DJ Drama, Bryan-Michael Cox, Lavar Arrington, Gregg Street, Free, Dr. Benjamin Chavis and Chrysler Financial's Monique Tate and Sauna Witherspoon Participated in Teaching Young People How to "Get Your Money Right"
Atlanta – On Saturday, November 3, thousands of young adults filled Morris Brown College's John Lewis Gymnasium for the Hip-Hop Summit Action Network's "Get Your Money Right" International Financial Empowerment Tour.
An enthusiastic crowd received important financial literacy information from legendary hip-hop stars and financial experts. With hip-hop idols, coupled with title sponsor and partner Chrysler Financial experts on the panel, young people listened to important, basic financial advice to help them learn how to navigate today's rocky economic environment. Topics covered included the basics of banking, repairing and understanding credit scores, asset and wealth management, vehicle financing and home ownership.
The Atlanta tour stop, which was the last stop of 2007, included Hip-Hop Summit Action Network (HSAN) Chairman Russell Simmons and HSAN President/CEO Dr. Benjamin Chavis, Georgia's own Jermaine Dupri and Yung Joc, hip-hop icon Doug E. Fresh, R&B star LeToya Luckett, hip-hop artists Cassidy, Hurricane Chris, Young Berg and Belly, songwriter and producer Sean "The Pen" Garrett, DJ Drama, producer Bryan-Michael Cox, NFL player Lavar Arrington, V103's Gregg Street, Anheuser-Busch's Miranda Mack McKenzie and Chrysler Financial's Monique Tate and Sauna Witherspoon. Dr. Benjamin Chavis and television personality, Free, co-moderated.
Many of the panelists, artists and financial experts spoke heavily about the importance of good credit. Hurricane Chris gave good advice to those just starting to get credit cards, "Start putting things in your name," he emphasized. "Make a small purchase with a credit card to build your credit when you are 18. By the time you are 21, your credit is already rolling."
Yung Joc gave practical advice about paying off credit, stating, "When you make the minimum payment on a credit card, on anything you owe money on, you are only paying the interest. You never pay the debt. Pay a little more then the minimum otherwise you could be paying double for what you bought."
Chrysler Financial's Sauna Witherspoon emphasized, "Respect credit and the opportunities it can give you, but also remember that it can stop you from what you need to be doing."
HSAN Chairman Russell Simmons told the crowd "Put your head down and focus. It's in all the scriptures, too. Hard work, dedication and faith promotes miracles. Look at these panelists. They're all the best at what they do!"
Even the stars themselves learn from the Summits and take away knowledge every time they participate including artist, record producer, author and executive Jermaine Dupri. JD declared, "I learn from sitting here, listening to everyone talking. You are never too young or too old to learn. When I started, no one was putting these panels together. I want to thank Russell Simmons for giving all of you this opportunity. I wish someone had done this for me when I was young. This information is power."
R&B star LeToya Luckett held up her "Get Your Money Right" workbook and declared, "This ain't no flyer, it's not something you throw away. This has changed my life. Pick up the book, use it and think about what we have all said today."
Yung Joc brought the Summit to an end by declaring, "With the information you have learned here, today is the first day of your life."
For more information, the downloadable version of the "Get Your Money Right" workbook and to see a streaming Web cast of the Atlanta Hip-Hop Summit, go to www.hsan.org.