21 Savage has teamed up with the fintech company Chime for the second year in a row to promote his Bank Account Financial Literacy Campaign. The 29-year-old rapper first launched the initiative in October 2020, which is a six-course online program for high school students to learn about how to manage money. Those who successfully complete the course can then apply for one of 100 Bank Account Program scholarships, which will be for $1,000 each.
“Growing up in Atlanta, the hustling energy just rubs off on you,” Savage states in the 45-second video for the program. “Financial literacy is important because that’s one of the main things that you need to operate and be successful as an adult. I just wanted to come up with something that could kids have some understanding of what to do with that money.”
21 Savage also visited his hometown two weeks ago after the upgrade to one of the basketball courts at ATL’s Parkway-Wabash Park was finished. The project was a collaboration between 21’s Leading by Example Foundation, Project Backboard, and muralist George Baker.
“The design “Making Change” at Parkway-Wabash was informed and inspired by Atlanta’s ability to accept the new,” Baker said in a press release, “something we strive to do every day.”
Erica Johnson, the Head of Diversity, Equity, and Belonging at Chime, spoke with Atlanta’s 11Alive about the value of the “Bank Account” lyricist’s presence at the park and speaking directly with his young fans.
“21 Savage shared some great insights,” Johnson said. “He talked about the importance of saving. He talked about the importance of the 50-30-20 rule. And that’s something we at Chime really believe in. And we think it’s key to financial literacy.”
As explained by Savage, the rule is broken down as allocating 50% of your monthly income towards your needs, 30% of your income to what you want, and the remaining 20% should then be put towards paying down any outstanding debts and/or your savings.
Johnson also released a separate press statement about the collaborative efforts between Chime and 21 Savage. “Our partnership with 21 Savage and his foundation, Leading by Example, reflects our continued commitment to promoting financial inclusion in Atlanta and ensuring we provide resources to historically underserved communities,” she said.
Learn more about the Bank Account Financial Literacy Campaign by visiting chime.com/21savage.