WATCH: 5 Money Management Tips With 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.