News: Ace Hood Gives Money Hustling Tips, "I Save At Least $60,000"

Wednesday, Oct 12, 2011 1:00PM

Written by Biz Jones

DJ Khaled protege Ace Hood has publicly doled out financial advice and admitted past financial mistakes have now helped him become wiser about spending his paper these days.

Admitting he used splurge his money on Gucci clothing, Hood said he has now become a big saver.

"Now, if I make $100,000 per month, I save at least $60,000," he explains. "You definitely have to save for rainy days. You never know. It could rain, but then again it might storm. Hail might come. Maybe a tornado." Another lesson: Don't be afraid to ask advice. Ace Hood listens carefully to fellow Miami-based hip-hop veterans DJ Khaled and Rick Ross. Though Ross, a frequent member of FORBES's Hip-Hop Cash Kings list, has been know to brag about "blowin' money fast," he and Khaled have told Ace Hood simply, "Make sure to save." Ace Hood also says he learned not to overspend on significant others. In 2008, he'd give his then-girlfriend as much as $800 every few days to fund extravagant shopping trips. No more. (Forbes)

Last July, Ace Hood admitted a low point in his life was due to financial instability.

"The low point of my career was after my second album dropped," Hood revealed in an interview. "My second project wasn't exactly what I wanted it to be. Nothing went wrong [with my situation]. But it was a little rushed and it just kinda happened. I was going through a lot of personal issues and financial issues. I was feeling fine, but being in that star light, people don't like to admit to the struggle. It was definitely a huge struggle for me at that time. It was a struggle not having a record out, not being played on radio, and not doing as many shows as I'd like to. My family going through things, dealing with eviction notices. I got an eviction notice at my condo. My girl called me and she was upset telling me what happened. I was trying to work it out with the landlord to get an extension and pay everything off." (Complex)

In August, DJ Khaled talked about having Hood develop his own buzz over the past year.

"Body 2 Body," the third single from "Blood, Sweat & Tears," has also connected. Produced by J.U.S.T.I.C.E League and featuring Chris Brown, the song is an '80s synthesizer-driven slow jam that is No. 56 on the Hot R&B/Hip-Hop Songs chart. As "Blood, Sweat & Tears" rolls out, Ace Hood looks to be finally breaking out from under the wing of mentor and Def Jam South president Khaled. "The first two albums I brought him out and I stood beside him every day," Khaled says. "[But] I had to let him do what he needed to do to get respect. So instead of me opening the door for him, I had him kick the door down. And now other artists want to work with him [and] people that doubted him are fans now." (Billboard)

Recently, Hood spoke to SOHH about his "Hustle Hard" remix summer anthem.

"[Rick] Ross has always been supportive of my career. He had already heard the original and loved it. So with him, I went to his crib and asked him to be a part of [the remix as well]. He did his verse and shot that back to me ASAP. Alotta people tell me this is that record you play when you don't wanna wake up because it makes you wanna get up and do something [and] be something. That's a good feeling. To even be back with a record as big as "Hustle Hard" feels good." (SOHH Singled Out)

Check out some recent Ace Hood footage down below:

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