1. Signing bad contracts: Rappers get the sign and not knowing the business. Get yourself a lawyer, so that you can walk out of the label office with a great decision.
2. Freeloader: Yes you will have those come across, the fact you got a nice buzz, they will try to be around you once you get on. Just know once the money is gone, they have gone to.
3. Buying things you can't afford: We all know you want to ball out, make it rain, spend money on some dope looking jewelry, be in the strip, unfortunately, none of these things create wealth in the long run to the point you won't be able to start investing unless your money is good.
4. Taxes: Pay your taxes or the government will take all your things or lock you up.
5. Keep Your Penis In Your Pants: This is kind of self-explanatory, you got rap money now doesn't mean you can have sex with the world. Thinking that you won't have a kid and she won't put you on child support.