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Today an announcement was made on the convening of a national Hip-Hop Summit that pertains to Financial Empowerment. Entitled, “Get Your Money Right,” this year’s summits will feature the likes of Russell Simmons, Dr. Benjamin Chavis and Rocsi of BET’s “106 & Park.”

In terms of big markets, the event will be hosted by the Hip-Hop Summit Action Network and Walmart.

The overall purpose of this event is to provide necessary and valuable and timely information that relates to keeping money in order with advice ranging from financial experts to celebrities to community leaders. Taking place on September 12 at the Greensboro Coliseum in North Carolina, doors will open at 12 p.m. and will be open exclusively to the public.

Chavis told Hip-Hop Wired,

“We did a study and we found out that 18-25 year olds, primarily in the African-American community, were ruining their credit and that’s too early of an age. That was the primary reason why we started this campaign. Each year we get deeper into the subject matter and the response has been tremendous for young people.”

People are pretty tired of hearing the pressures and struggles that have come from the recession, but it is evident that it must be true if it still continues to annoyingly buzz in everyone’s ear like a mosquito. Many are unaware of how to handle their finances and financial literacy is vital especially now as multicultural communities are being heavily impacted. African-Americans are only doing themselves a disservice as they believe that this economic downturn is only affecting the big players as everything trickles down after awhile.

“Hip-Hop is about empowerment and transformation. Financial literacy is a fundamental key to financial empowerment. The ‘Get Your Money Right’ Hip-Hop Summit in Greensboro will be an excellent opportunity to receive invaluable information,” said Russell Simmons, chairman and co-founder of HSAN.”

African-American job loss has exceeded close to a million since the recession reared its ugly head and Blacks have come to be a 60% representation of the total number of those that are unemployed. The national unemployment rate for Blacks climbed up to 15% in April which has been the highest rate since June of 1986.

Everyone knows the good ole saying that people lie, but numbers do not as these numbers clearly indicate the fact that a change has been going for the worse and it may be time for those suffering to take more of a direct approach to flipping their negative into something positive.

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