Less Money, More Problems: Financial Lessons From Ace Hood

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Click for full photo gallery: Ace Hood's Top Ten Money Lessons

Shortly after rapper Ace Hood signed his first major record deal at age 17, financial planning wasn't exactly at the front of his mind. He leased a new Cadillac Escalade and decked it out with 26-inch rims. He rented a three-bedroom condo in South Florida for $3,000 per month. And then there were the shopping trips.

"It was $1,500-$2,000 every time I hit the Gucci store," he says, lounging poolside at the...