Kevin Hart is working to spread the knowledge that financial health is wealth.
Last year, the actor and comedian partnered with Chase for “Hart of It All” — his series that helps people learn how to shape their financial future. Rolling Out reports that Hart recently visited Spelman College, where he told stories of his own background, his relationship with budgeting, his journey of investing, and advice for college students to avoid debt.
During one of his story times, Hart shared how he went from blowing his first big check to becoming more financially literate and making smarter choices.
“My next major investment was my first comedy special, ‘Laugh At My Pain,’ which I funded and presented theatrically,” Hart told the outlet. “I took the tour of money that I made and I said, ‘You know what? I’m going to invest in this and put it out because I feel like I can make a bigger return.’ It was about $750,000 to produce and put out, and I think it made 9 or $10 million. I received more than five times the money I invested. In my mind, I’m like, ‘OK, this puts me in a better position to navigate my corporation and company’s structure.'”
The main word of advice that Hart had for Spelman students was to find ways to grow their money, which they can only really discover by doing their own research and persistently working toward financial literacy.
“It’s about understanding the investment in the world of interests and savings,” he said. “It’s not just putting your money in a bank account and letting it sit there, it’s putting your money in a bank account to make it work. How do you make your money work?”
He continued: “The key to this is understanding the world of the economy and putting your money in safe stocks that you can sit, watch and let grow. There’s such a large world that’s attached to finance and the biggest piece of information that I can give college students today is to outsource the information because it’s not going to be given to you. We have to cure the financial illiteracy that we’re suffering from. It’s not just the work that I’m doing but it’s the work that you also have to do in just being ambitious enough to find that element.”