Yeah Drake, the artist from Toronto who grabbed us by our mass consciousness back in 2010, and told us “I’m doing me” with his debut single “Over.” Those were words many of us could identify with, a reminder to remember ourselves as individuals first and do “me” i.e. ourselves instead of them, those people out there. Now a household name, with raw lyrics and lush arrangements Drake’s songs have a habit of reminding us that amidst the demands of modern life, we alone have the power to change it all. And when it comes to finances and “making sure the young money ship is never sinking” the young mogul’s lyrics offer up a wealth of insight. Drake lyrics have taken on a life of their own.
Lyric: I got friends with money and I got money too.
The premise: Drake has money and he knows how to generate income. He makes sure that he surrounds himself with other people with sources of income as well.
It may sound insensitive but the more time you spend with people who have attained the kind of success and wealth you’d like to attain, the better primed you are for success. As the old proverb says, “Show me your friends and I’ll tell you who you are.”
In Forbes magazine, Clint Swindall advises: “If you want to be financially successful, surround yourself with those who are financially successful. If you hang out with people who are broke, you’ll never learn how people who aren’t broke live their lives.”
Conversely hang out with people who are chronic complainers or always cutting others (or themselves) down and, chances are, you’ll find yourself not thinking or acting in positive ways. Want to get ahead? Pick your friends with care.
Lyric: Nowadays it’s six-figures when they tax me/ Oh well, guess you lose some and win some, long as the outcome is income.
Premise: Drake is making more money and, as a result, he’s paying more in taxes.
Paying more in taxes because you’re earning more overall is an inevitable problem to have. As you earn more in life, you may find getting tax returns back is a thing of the past. So get smart about reducing your tax liability and be sure to take every deduction you are due.
Lyric: I got it rollin’ in all kinda ways, lump sum and residual, yeah.
Premise: Drake doesn’t limit his earnings to one stream of income, having multiple streams is how it should be done.
Thanks to today’s hyper-connected world, having a sideline has never been easier. Have skills that are going unnoticed and unrewarded at your 9 to 5 job? Why not use those graphic design, writing, or sewing skills to freelance online? Or get into ecommerce. Set up your own shop or affiliate marketing business. Even driving for Lyft or Uber during the weekends or evenings can help you sock away dollars you can use to boost your savings or invest wisely.
Lyric: I’m 23 with a money tree/Growing more too I just planted a 100 seeds.
Premise: At 23 Drake says he made sure he invested and diversified his money by “planting a hundred seeds” and making his money grow.
Ah… Drake lyrics to take to heart. Growing a “money tree” while you’re young is one of the smartest things you can do to help ensure financial stability for years to come. Diversify those “100 seeds” by planting them in different pots. Getting diversified aims at minimizing risk by investing in different areas where your money can grow.
Lyric: Got the money and I never show it.
Premise: Drake has money but he makes it a point to not show it.
Living a lavish lifestyle might be tempting but keeping it simple is infinitely smarter. Get into the habit of spending lots of money on clothes, cars, jewelry and other fine things and you might rob yourself of future success.
If you find you have to take out small dollar loans, do so only for real life emergencies, not for fashion, bling, or to keep up with the Joneses. Those Joneses have problems of their own. Spend on the things you truly value. As you build a mass of dollars in the bank, you can put more and more of those bills to work for you to further generate passive streams of income. In other words, Drake would not suggest getting a payday loan or bad credit loan in order to buy an Xbox 1, or as a down payment on a vehicle that makes no financial sense. Be smart with your finances.
You know Drake lyrics have something to them when they’ve been immortalized by Jeopardy’s Alex Trebek.