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Rapper Saweetie & Grandmother Create Financial Literacy For Black & Brown Youth
Diamonté Harper, better known as Saweetie, is the CEO of her own business, Icy Baby Foundation, and a dedicated philanthropist committed to empowering Black and Brown youth.
Diamonté and her grandmother Roxane Harper, are committed to educating kids from underserved communities about financial literacy, entrepreneurship, and making better life decisions. Their purpose in creating this program is to close the racial wealth gap in America.
Since 2022, The Icy Baby Foundation (IBF) started programs for students from middle school through high school in Las Vegas, Oakland, and Sacramento. IBF ensures that youth have a nuanced understanding of their finances, allowing them to maximize their profit. All students complete a 45-minute to 1-hour workshop.
Students who attend the six-week programs receive a funded $25 debit card per session (up to $175 total) once they have completed the required educational training. The course teaches them about the importance of saving, budgeting, and financial planning, and provides free access to a money management app for an entire year.
Once students have completed their course, they will be able to participate in an online graduation to celebrate their dedication and learning.
What Students Learn:
- Entrepreneurship
- Financial Literacy
- Coding
- Life Skills
“As a University of Southern California alumna, education is very important to me too. Now that I have this influential platform I want to be able to pass some of that education down to the younger generation,” she tells Ebony Magazine. “This program will be taught in conjunction with experts in different financial fields and I think the youth will be able to take away knowledge that will equip them for a better future both financially and socially.”
Initial research conducted by the Icy Baby Foundation revealed that only one-third of students could pass a financial literacy test prior to the course. After completing the six-week program, 90% of participants passed. The foundation also has a mission to cultivate an entrepreneurial mindset among youth who come from disadvantaged backgrounds.
“Financial illiteracy is a systemic problem impacting the Black and Brown communities, especially in the lower economic demographics. We are trying to break that cycle through our Icy Baby Foundation,” Harper tells Forbes Magazine. She also notes that there has been an influx of youth signed up for the program, which led to a waitlist for the program!
Forbes Magazine shares:
In particular, Saweetie has teamed up with Harper to empower Black and Brown youth through financial literacy because she wants kids to know that “there are levels to being financially successful. It’s not only about putting money into your savings. I want to help them achieve.”
Her two greatest pieces of financial advice are:
1) You need both an accountant and a financial advisor. They are not the same.
2) Learn the difference between financial liabilities and assets.
In terms of career advice, the best Saweetie ever has received is, “Create, don’t compete.” To those looking to achieve their life purpose, she says, “Learn how to say no and protect your peace by consciously setting boundaries in your businesses and personal life.”
This is the true power of kinship! Our hope is that The Icy Baby Foundation becomes nationwide for all black and brown youth to participate and learn. Thank you, Diamonté and Roxane for helping black and brown children learn financial literacy!