*On May 19, courtesy of American Public Media’s Marketplace, the Miracle Theater in Inglewood, CA was the setting for a private screening of Must Be the Money, a timely and much-needed new podcast on financial literacy, hosted by former Wall Street journalist and 2022 Pulitzer Prize finalist, Lee Hawkins.
The podcast, which was created in partnership with the BBC World Service, For The Culture By The Culture, and Matt Barnes’ All The Smoke, is geared towards young people, and teaching them about financial planning, investing and being smart with money, especially in these times when young people are acquiring money through Name Image and Likeness (NIL) deals.
I repeat…This podcast is needed. Why? Because financial literacy is not taught in school, especially in the black and brown communities, which leaves so many young people ill-equipped to deal with money as adults.
There are so many cautionary tales about athletes who make millions during their playing career but lose most, if not all, of their earnings within five years of leaving professional sports in their rearview mirror.
Learning how to handle finances could have saved so many from the rags-to-riches-rags stories we read and hear about. I am a sports junkie, so when I heard former NBA Champion Matt Barnes was attached to this podcast, I was immediately interested in attending.
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It was very fitting that the O’Jays’ “For the Love of Money” was playing before things got started.
General Manager and Vice President of Marketplace Neal Scarbrough spoke first and welcomed people to Inglewood, “his city” and thanked those who had a part in bringing the event together. He explained the importance of such an event and that when he was young, he did not have anyone to show him the way. Next, we saw Episode 2 of Must Be the Money, which was an interview with NBA Champion and podcaster Matt Barnes and his twin 16-year-old varsity basketball sons, Isiah and Carter.
While Matt explained that the lack of financial guidance he had when he entered the league lead to his pockets being empty each July for the first four years of his NBA career, his sons acknowledged they have a different story; a life of privilege and not having to struggle about money, which is something they do not take for granted. When Matt was a teenager, NIL deals were not a thing, but that is not the case for his sons, who emphasized the importance of deciding on which NIL deals to pursue because you do not want to be connected to something that can harm your brand.
Speaking of brands, the twins admitted they never thought about branding, but now understand the importance, especially since, as athletes, they will be dealing with NIL deals and branding in their future. Matt mentioned he wishes he had someone to teach him about real estate and stocks when he was young. He also mentioned he wants his sons to be “good citizens, then good students and then good athletes.”
Matt Barnes is mentoring his sons, much like LaVar Ball, Deion Sanders and LeBron James, all of whom have received negative attention for it. Even though conversation on financial literacy is sorely lacking and needed in the Black community, for some reason, when a Black man wants to point his sons in the right direction, it is perceived as something egotistical and sinister.
Must Be the Money is a platform where conversations on financial literacy can continue. It is a place where young people can learn early how to invest money wisely, regardless of if you have $500 or $5000. It is a space that teaches you it is okay to make mistakes, to start over, to pivot.
The evening ended with a Q & A segment, where the audience asked questions ranging from navigating being a young media professional to finance-related questions. One young lady had an NIL deal and wanted to know how to invest it. Although the panel did not give investing advice, they shared that other podcasts will include financial experts. They did; however, share stories of their pitflalls and offered what I consider expert advice, such as:
• Tie yourself to NIL deals that represent what you like and are about
• Do for yourself and control your own message
• Do not have a hill of regret
• Invest in yourself
• All debt is not bad debt
• Read the room and adjust accordingly
General Manager and Vice President of Marketplace Neal Scarbrough said the podcast reflects Marketplace’s commitment to financial literacy and inclusive storytelling.
“Money management skills and diverse sources are core tentpoles of Marketplace’s mission to educate the nation about the economy,” Scarbrough said. “We are always looking for meaningful ways to reach younger and underrepresented audiences. Must Be the Money demonstrates that building wealth or a business is not about luck — it’s about strategy, discipline, and learning from real-world journeys. In partnership with the BBC, For The Culture By The Culture and All The Smoke Productions, we’ve developed a voice that expands who financial media is for.”
Emmy and NAACP Image Award-winning producer P. Frank Williams (Unsung, American Gangster, director of Hulu’s Freaknik: The Wildest Party Never Told) said the series was created to fill a critical gap in financial storytelling.
“Too often, our communities receive financial advice from voices that don’t reflect their lived experiences,” said Williams, founder of For The Culture By The Culture Media and executive producer of the podcast. “Must Be the Money is about providing accessible, culturally relevant guidance for young people of color who are serious about building and growing wealth. We’re proud to bring what we believe will be a generation-defining series to audiences around the world.”
Three things that were said resonated with me:
1) Invest in stocks
2) Believe in yourself and do not be afraid to start over. An example used was Dr. Dre leaving Death Row records and everything with it. He left with nothing and was ok with it because he believed in himself and his talent and knew he could get it all back, which he did.
3) Do not spread yourself too thin. The example was Warrant Buffet, who concentrated on four things, instead of 25.
I look forward to seeing future episodes of Must Be the Money and what it has to offer.
Episodes can be seen on YouTube channel and include the following:
• Watch Now – Anglie Nwandu, Founder, The Shade Room
• Watch Now – Matt Barnes and Sons, NBA Champion & Co-Founder, All The Smoke Productions
• Watch Now – Jabari Magnus, Managing Director, BlackRock
• Watch Now – Crystal McCrary, Attorney, Filmmaker, Producer, & Author
• June 1 – Detavio Samuels, CEO, REVOLT
• June 8 – Angela Yee, Host, Way Up With Angela Yee (Part I)
• June 15 – Angela Yee (Part II)
• June 22 – Austin Clements, Venture Capitalist, Slauson & Co.
• June 29 – Victor Lugo, Founder, Gameplay Group International
• July 6 – Van Lathan, Host/Producer, The Ringer
Money! Money! Money! Money! Money! We all need it. Whether your pockets are full or light, you can learn something from Must Be the Money.
Marilyn Smith is a Los Angeles based writer/reviewer. Contact her via [email protected].
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