When we stumbled across an article in Forbes highlighting 10 hip-hop songs offering up sound financial advice (yes, we literally stumbled), we couldn't help but notice: not one of the hip-hop artists was female.

Considering Nicki Minaj trumped all but three hip-hop artists in earnings this past year, we thought we ought to pay tribute to the female hip-hop artists making the world a financially-savvier (and more harmonious) place.

5 personal finance tips from some of hip-hop's FEMALE artists:

  1. "I leave the rest just to collect interest" (Nicki Minaj, Check It Out)

Don't think that because you've earned more this month than usual, you should spend more than usual. Stick to your budget and put away the rest (preferably in a high-interest savings account).

  1. "Can't pay my rent [with your] compliments" (Lil' Kim, Buy U Music)

One of the top motivating factors influencing Gen-Y's spending habits are their friends' spending habits. Frankly, that can be a top motivator no matter your age. Don't spend beyond your means to impress others (when it comes down to it, you'd rather impress your lenders - trust us).

  1. "Why you procrastinate girl; you got a lot, but you just waste all yours" (Azealia Banks, 212)

Thinking about starting up a 401(k) or finally putting into that RRSP? Then do it. Research indicates one of the biggest regrets people have in their 60s is not starting a retirement savings plans in their 20s. Let's look at an example: if on your 25th birthday, you start making $50 monthly contributions to an RRSP plan with a 7 percent rate-of-return, you'll have $60,999 by your 55th birthday (though your actual out-of-pocket investment will be just $18,000). Start investing even earlier for a higher return. (See how much you can save with RBC's RRSP calculators here.)

  1. "Joint venture, we'll partner up until the shares are up" (Iggy Azalea, Change Your Life)

United we stand, divided we fall - that's the idea behind mutual funds, anyhow. While mutual funds provide you with limited control over how they're managed (a professional manages the funds for everyone involved), you could wind up with significant gains. It certainly is gratifying to be on a winning team.

  1. "And then the stock exchange, bang; then we got claim to the change" (Rihanna, Winning Women)

As a shareholder, you have the right to vote on matters involving corporate policy, actions, operations, and who makes up the board of directors. As important as it is to think monetarily when choosing your stocks, it's also important to invest your money in companies with whom you share values and vision. A corporation's forward movements (and the changes made therein) ultimately fall in the hands of its shareholders.

It's a girl's world

With women holding 60 percent of personal wealth and 51 percent of all stocks in the US, according to research by Virginia Tech, it's important that we share our financial expertise with one another any way we can.

Women's earning power was expected to reach $18 trillion by 2014 (double that of the proposed 2014 GDP of China and India combined). Research suggests women repay loans more often than men, benefit others with their financial decisions more effectively than men, and are narrowing the gender wage gap evermore with each passing generation.

That's a tune we can sing (or rap) along to.

 

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by Golden Girl Finance

A leader in financial digital media, Golden Girl Finance is the modern woman's guide to finance, making the discussion of finance real, relevant and relatable - and shockingly entertaining.