Slim Thug: hip hop artist, real estate investor, devoted Suze Orman fanboy.
The hip-hop artist is so devoted that he followed Orman's lead and wrote his own personal finance advice book, called "How to Survive In A Recession." (Hat tip: Time's Moneyland blog.)
For the most part, the advice Slim offers in the 47-page ebook is nothing new: Spend less than you earn, don't waste your money, negotiate everything and have a financial backup plan.
But the way he delivers that advice makes it the most riveting personal finance book of the year. "I'm trying to show the right ways to stack paper," he writes.
As Moneyland pointed out, the rapper has been obsessed with bean counting since the recession began, as well as how the economic downturn has affected the black community.
“I’m sick of this cycle,” Slim told MTV's RapFix in a recent interview. “We always at the bottom as black people."
While his personal finance advice is super solid and likely to save you some money if you follow his rules (e.g. save 50 percent of every check you earn), the actual cost of the ebook -- $9.99 -- is kind of steep for something not much longer than a pamphlet.
We zeroed in on some of the most essential tidbits in our slideshow below:
"Never have a Bentley with a Benz salary." Slim Thug hits on a an old chestnut of personal finance: Don't drive more car than you can afford. Slim also advises against buying a fancy car before you stop living with your mother and not getting rims that cost more than the car itself.
"Going to strip clubs to make it rain 5G's ain't ever profited my pockets," writes Slim Thug. (This follows some advice to men negotiating with women: "Hoes gotta stack too.") Better for the budget? Be content to make it drizzle at the club.
Personal finance advice you won't find in Suze Orman's books: Slim Thug advises against going broke to do drugs. (His view: Legalize drugs, and then tax the hell out of them.) He adds one important caveat: It's OK to spend money on drugs "if you're trying to flip that shit" to make some money.
Babies are expensive. Very, very expensive. Slim Thug to all his brothers out there: No matter how much you like a woman, don't have a baby with her unless you plan to stay with her a long time. In his words: "Baby mamas are expensive."
Don't spend money on things you can't resell for a decent price, advises the rapper. Instead, only spend money on things you can flip, like houses and jewelry.
Millionaire Aaron Spelling may have owned this mega-mansion, but Slim Thug says don't even think about living in more house than you need. But he does say <a href="http://thatgrapejuice.net/2007/09/slim-thug-talks-real-estate/" target="_hplink">flipping houses is good way to make money</a>.
A friendly reminder that when you make a million dollars that doesn't mean you get to keep a million dollars. "Know your taxes and math because you got to pay or your ass is going to jail," he writes. His bottom line: Get a good accountant.
Learning how to deal with Benjamins is fundamental to getting a handle on your personal finances, he says. Here are his rules: Don't keep a roll of $100 bills in your pocket; don't pay more than $100 to get into a club; and don't break a $100 for anything less than $20, because next thing you know that money will be gone.