Money Matters: Personal Finance Rap

financial literacy program for teensIn a much-needed effort to get young adults interested in the importance of managing their personal finances before they start to develop bad habits and end up heavily in debt, the Money Matters financial education program held a competition – Money Matters Music Mogul – for teens all across the country.

The contest was opened in November 2012 with submissions closing in late December, and after almost 200,000 votes were made, multi-platinum music producer Kevin “KHAO” Cates picked 15 year old Blake McGuire as the winner.

This meant that Blake could take his first flight ever to Atlanta, where he would record his winning song in a professional recording studio. He also won a $1,000 scholarship, and the Boys & Girls Clubs of America of which he is a member gets a $1000 grant from the Charles Schwab Foundation.

A hip hop album based on financial literacy has also been put together by producer KHAO, using the winning songs from this year’s and last year’s winners and entries from other contestants. You can find out more about it, and even buy the download here. Teens can find out more about the Money Matters program here.

Congratulations to Blake, and to everyone involved and who took part in this worthy effort.

Philip

4 Comments

  1. Very noble cause. What would go a long way in teaching good financial skills to young people is some kind of restriction on credit card companies targeting college kids who have no obvious means of repaying the debt.

  2. That’s a really cool contest, I wish I had heard about it sooner. I’ve got no kids and I’m way too old to be doing things like that myself, lol, but there’s a couple kids I know in my neighborhood that would have had fun with that. I hope they do it again, it sounds like it’s doing great things for the younger generation.

  3. Hey, how come I’ve never heard of this contest? Not that I would have participated, but it would have been nice to read more about it 🙂
    I think the cause is more than noble, the initiative is amazing and more should be done to teach the young generation that money isn’t a joke, financial education is so important!

    • Yes, and I think it can be more effective when you communicate with younger people in a way that they can relate too. That producer has since put the album together: it’s called “M4: Money Matters Music Mogul$”. You can find out more about it and get the download links here: http://www.bgca.org/m4/Pages/m4.aspx

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