You may have heard that the U.S. economy is currently doing its best MC Hammer impression, but what you may not know is how the economic downturn is affecting the world of hip-hop. According to The State, rappers have had to make some significant cutbacks and alterations to their lifestyles in order to account for the effects of dwindling album sales and empty seats at concerts. The article indicates that the Slick-Rick style jewelry and ostentatious showboating are the first things to go, when rappers need to save cash:

Before, a new artist might spend $25,000 of a $30,000 advance on a chain, according to[Ben] Baller, who counts Fat Joe as a client. “Now they would rather try to spend $5,000 and $6,000,” he says, adding, “they’re willing to talk about options by using sapphires, using very, very low quality gold. Some people (are) even wanting to mix diamonds with cubics (cubic zirconia) so it would not be completely ungenuine.”

Who knew that times were so tough for rappers? Well, hip-hop heads need not worry. Your uncle Nahshon has been through these tough times before and I’ve got some tips that will keep your pockets fatter than Joe. Here are the top 5 ways that hip-hoppers can avoid bankruptcy.

5. Dip your toes in international business for some of that “Arab Money”

The Iraqi Dinar, which Busta calls “Arab Money,” trades at something like 1000 to $1 US Dollar.

4. File a lawsuit against people who would never suspect it

Lil Wayne sued a handful of DJ’s last year, but this time he goes for the big dog.

3. Wearing knock-offs instead of paying for authentic brand-name apparel…BAWSE!

Officer Ricky rocked his infamous fake Louis Vuitton shades on the cover of XXL

2. Share wardrobe in music videos

Juelz and Loso saved production cost by sharing a headband in the “Rockin That Thang” video

1. Marry a rich Find one successful friend and live off of them for the rest of your life

Mr. Yayo (aka 50 Cent’s Tax Write-off) plans to name his new album What recession?