WATCH: 5 Money Management Tips With Mellody Hobson

What young people need to know about investing. (It's not as difficult as you think!)

Mellody-Hobson

The last thing you want to do is work your entire adult life only to discover that you didn’t properly plan for your retirement. It may seem like a concern for years down the line for most young entrepreneurs, but it’s never too early to start thinking about your future, especially when it comes to managing your personal finances in a recession. Black Enterprise recently caught up with regular BE contributor Mellody Hobson, who serves as President of Ariel Investments, a Chicago investment firm that manages over $3 billion in assets, to get her five keys to making your money work for you through smart banking, financing and investment. Check out footage of our interview with the trailblazing businesswoman as she shares her top 5 money management tips for young investors. Take notes!

For more financial advice, strategies, and tips for young people, read “BE Next: Your Questions, Answered” in the January 2011 issue of BLACK ENTERPRISE, which hits national newsstands on December 28.



10 Responses to WATCH: 5 Money Management Tips With Mellody Hobson

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  2. C. Wolfe says:

    The 5 Money Management Tips with Mellody Hobson was very informative and to the point. I’m in total agreement with the advice that Mellody suggested; especially her tip concerning investing with ING. The most important aspect of investing is simply getting started-start with small increments and increase with time. “Slow and Steady” really does win the race.

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  5. I love the advice by Mellody Hobson in this video. Her message is very powerful: social security is in trouble and you cannot depend on it or the others to take care of your financial future; you do not need a lot of money to invest; think about ING and other online companies that allow you to invest small amounts with low costs to customers; help others which will come back to you; cut back on credit card debt and get started in investing with even a small amount per day or per week or per month–just do it and don’t put it off by waiting for the perfect time; and save more each time you get a raise.

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