Shawty Lo’s Bad Spending Choices

by Minority Fortune

shawtyloShawty Lo is a rapper from Atlanta with a few hit singles under his belt. He may get a little change from his company plus money from concerts. However, Crunktastical reports that the rapper has 10 kids, ranging from 7 to 17. He recently hosted a Sweet 16 celebration for two of his daughters at Club Crucial, and we shake our heads in shame.

Although it’s hard, we’ll just stick to the financial side of this matter. First of all, with 10 kids, pricey jewelry, Gucci scarves, expensive rides, and whatnot, he can’t afford to “go all out” and spend extravagantly on 1/5 of his children’s 16th birthdays. He has bigger matters to deal with like his impending retirement plan, sending his older children to college, and cutting his excessive spending.

shawtylosixteenSince we doubt Shawty Lo has his finances in tact, we’ll throw a few tips his way. Start a 529 savings plan for the 10 kids. Max out your Roth IRA and 401K contributions. Make sure to invest in a good college education for your kids. Get sponsors to pay for your kids birthday parties so you don’t have to “go all out” and spend up your own money. Ten kids mean ten birthdays a year, so you must be mindful. If you can’t get any sponsors, use your local church’s basement, buy up a bulk of Tampico juice, get some Popeyes, and call it a night.

For now, you get a “lo” Grade F, Mr.

*Pic courtesy of Freddyo.
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