However, there is a yin and yang to the universe. Just as there are songs whose talk of money I wouldn’t touch with a 10-foot pole, there are also those with sound financial advice any accountant would love. Below, we’ve gathered five songs that entertain while imparting great financial wisdom.
“Thrift Shop” by Macklemore and Ryan Lewis featuring Wanz
Lesson: You don’t have to overspend to get good stuff.
Lyric 1: They be like, “Oh, that Gucci – that’s hella tight.”/ I’m like, “Yo – that’s $50 for a t-shirt.”
Here we have a man with sensible style. Why pay top dollar for designer brands when you can get something that looks just as good from the thrift store and save those hard-earned greenbacks?
Lyric 2: No for real – ask your grandpa – can I have his hand-me-downs?
This hits on an important point in the world of fashion. If you have space for those bellbottoms in the attic, you may want to hold on to them. At some point, all trends come back around. I once had an English teacher who told us he was saving a beat-up baseball cap for when beat-up baseball caps are back in style. Saving some of your old wardrobe might help you not have to buy new things to keep up with the trends.
“The Gambler” by Kenny Rogers
Lesson: Carefully decide when to get in and out of investments.
Lyric: Know when to hold ‘em/ Know when to fold ‘em
This lesson about a poker game applies just as well to investment strategy. Whether you’re invested in stocks, bonds or mutual funds, it’s important to keep a close eye on your portfolio to know when to invest in or get out of particular funds.
You can help yourself by sticking to what you know and also balancing your portfolio so you don’t have too much money tied up in one asset.
“Forget You” by Cee Lo Green
Lesson: If you save wisely, you can reach your goals.
Lyric: Yeah I’m sorry, I can’t afford a Ferrari, but that don’t mean I can’t get you there.
Odds are that if you’re starting out in the workforce, you don’t have a lot of money to get everything you want out of life. However, if you begin to save and invest wisely, putting a little bit away at a time, you can work toward your goals. If you can’t afford a Ferrari, at least you can get a really nice Cadillac at the end of the day.
“Take the Money and Run” by The Steve Miller Band
Lesson: If your employer is going to give you free money, take it.
Lyric: Go on take the money and run
Depending upon where you are in your career, you may be uncertain as to how much to save for retirement. In all cases, if your employer offers a program matching your retirement funds up to a certain amount, always take the opportunity to contribute the maximum. Otherwise, you’re leaving money on the table. Take as much as your employer is willing to give.
“Money on My Mind” by Sam Smith
Lesson: Don’t do anything only for the money. Do it because it’s your passion.
Lyric: I don’t have money on my mind … I do it for the love.
When billionaire financier Warren Buffett came to speak at Quicken Loans, he said that a key to his success was doing what he loved. He had been interested in finance from a very young age, and that interest has stayed with him throughout his life.
There’s a lesson in there for the rest of us. If you do what you love, that will show up in your work. Enthusiasm is infectious, after all. Your passion can also sustain you through tough times and make your success that much sweeter.
Money is a topic touched on often in music. Can you think of a song with good monetary advice that we’ve left off the list? Share it with other readers in the comments section.
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