Even after Saweetie signed her first record deal, she didn’t blow her then-newfound income.
“I was really frugal with my money in the beginning, and there was a really long period of time where I was just working my ass off,” Saweetie, 32, said on the Wednesday, July 9, episode of the “Networth & Chill” podcast. “For some reason, I had called to ask my accountant how much money I had made. I had so much money, and I was like, ‘Where the hell did I get all this money from?’”
The rap star added, “It’s because I wasn’t splurging on everything, but unfortunately, after that, I started splurging. I should have never made that call, but because I was living below my means and I wasn’t really paying attention how much I was just making, I was just grinding and then, after that, it was like a shark that smells some blood.”
Saweetie (born Diamonté Harper) further admitted that splurging on extravagant luxury items was “one of the worst mistakes” she made financially. According to Saweetie, she paid off her student loans from her four-year University of Southern California undergraduate tuition, bought a new G Wagon SUV and new designer clothes and handbags. She also lent money to close friends and family.
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“If someone close to me needed some money, I’d give them a lump sum,” she recalled. “I was very generous with my money, and I don’t recommend that. When you give someone a large lump sum, they expect it to be that easy every time. So, I started creating boundaries because some people thought that money was just growing off of trees. I was like, ‘No, I’m working my ass off.’”
In addition to earning income from her thriving music career, Saweetie has also found financial success via various social media brand deals and after launching multiple companies of her own.
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“When you’ve made so much money and you haven’t had money before, sometimes you’re just so happy that you made money [and] you don’t really plan your money,” Saweetie added. “For me, as long as I have enough to pay my bills, do this and do that, I’m good. I am at a point in my life where I’ve made the wrong decisions with money [before].”
After mishandling her finances, Saweetie opted to hire an external team to help “manage [her] money.”
“Now, I’m thinking different,” she said. “A money goal is to have passive income in the millions.”
