Usher was conscious of his spending habits from a young age even as a star on the rise.
When Usher debuted his first album at 15 — his self-titled debut album, “Usher,” was released on Aug. 30, 1994 — he earned more than most teenagers but resisted the urge to spend on luxury fashion and jewelry.
Money Minded
Instead, as reported by CNBC’s “Make It” on July 24, he took a more prudent approach to his finances, focusing on long-term stability over immediate gratification.
“Surprisingly, I was never extravagant with my finances,” he said.
Of course, Usher has purchased items like cars and jewelry, typical for many celebrities to maintain their lifestyle. However, he remained dedicated to building a solid financial portfolio and generational wealth. The singer‘s passion for promoting financial literacy among young people led to the creation of his nonprofit, Usher’s New Look (UNL).
Since 1999, UNL has provided grade school and college students with essential financial education and guidance to prepare them for the future. The organization offers a 10-year program that supports youth from middle school through college, focusing on leadership development, educational support, and career preparation, according to Idealist.
“I had the right idea when I was a kid. Somewhere along the lines, I began to kind of just have fun,” the singer said.
The program has garnered backing from prominent organizations, including the Truist Foundation, which granted $500,000 to strengthen its high school leadership program and financial literacy initiatives, according to PR News Wire.
On March 7 IBM announced it had partnered with the UNL to offer career readiness training via IBM SkillsBuild, an initiative that teaches students, particularly those from historically underrepresented communities in technology, about artificial intelligence (AI) and essential professional skills for the future workforce.
“I’m always trying my hardest to figure out the best solution to be able to help those people whom I know could benefit from what access I had,” Usher said.
