Chrysler Financial – News
September 10, 2007
Contact: Jody L. Miller, JLMPR, Inc.
212-431-5227
Cell: 917-770-3970
jody@jlmpr.com
Amber Gowen, Chrysler Financial
248-427-3126
Cell: 248-930-6174
arp11@chryslerfinancial.com
North Carolina Hip-Hop Summit on Financial Empowerment:
A Historic Success
Russell Simmons, Jim Jones, Mike Jones, Anthony Hamilton, Lil Mo, Rocsi and Terrence J from BET's "106 & Park," Belly, Frankie Needles, 9 TH Wonder, Jinx, Sauna Witherspoon and Robert Lyles of Chrysler Financial, Kyle Santillian of JAMZ 102, Urban League's Keith Grandberry, North Carolina Department of Justice's Kristi Jones, Television Personality Free and Hip-Hop Summit Action Network President Dr. Benjamin Chavis Inspired More than 5,000 Young Adults to Get Their Money Right
New York – For over two hours, more than 5,000 young adults enthusiastically received vital financial literacy information from legendary hip-hop stars and financial experts at North Carolina's first Hip-Hop Summit on Financial Empowerment on the campus of North Carolina Agricultural and Technical State University, Saturday, September 8, 2007.
Given the current economic environment in the United States, the overwhelming success of the Hip-Hop Summit Action Network's (HSAN) International "Get Your Money Right" Tour reflected how hungry young people were for information to ensure their financial futures. Bloomberg recently wrote, "The housing recession is making it harder for Americans to tap home equity to finance the spending that accounts for 70 percent of the economy. A slowdown in hiring and slimmer pay raises may further weaken consumer sentiment and purchasing power as overall growth slows."
The powerful combination of hip-hop stars and financial experts reached the standing room only audience with the critical messages about managing and budgeting your money, the importance of FICO scores and how to navigate the current economic environment to obtain a home ownership loan and automobile financing. The title sponsor and HSAN's partner on the tour is Chrysler Financial.
The information shared with the rapt audience was both inspirational and practical.
"You must believe in yourself and stay focused," emphasized Russell Simmons, "and make giving a vital part of everything you do."
Avoiding the temptation of living above your means was a principle shared by many of the Summit panelists.
"When I first made money, I started buying everything I wanted," explained platinum hip-hop star, Mike Jones. "But I learned the hard way to think first before buying, and about the importance of having an experienced financial counsel to help me make the right decisions."
Rocsi, on air personality on BET's "106 & Park," took it to the women when she declared, "Be independent! And, live within your means. Otherwise, you're going to ruin your credit, as well as your financial life."
Dipset CEO Jim Jones, always one to tell it straight up, said, "Have a plan of how you're going to spend your money. And make sure how you're going to manage your spending is a part of the plan."
Anthony Hamilton, on a lighter note while commenting on looking for ways to save money, brought attention to a tried and true method, even for an R&B star. "I went down to the mall and they had a nice, sparkly pair of sneakers," he described. "I liked them so, I bought them. But, they were on sale!"
The HSAN "Get Your Money Right Tour" stops next in Washington, D.C. on September 29, Miami, Fla. on October 20 and Atlanta, Ga. on November 3. For more information and to see a streaming Web cast of the Greensboro Hip-Hop Summit, go to www.hsan.org.