Russell Simmons Says 'Get Your Money Right'

Hip-Hop mogul Russell Simmons is planning to school youngsters on money management, teaming up with financial guru Suze Orman for a six-city tour called "Get Your Money Right."

Eminem and "American Idol" champ Fantasia Barrino have already signed on to support the summits, which teach young people essential financial tools such as basic banking, managing assets, understanding and fixing credit scores, home ownership and auto financing, said Simmons.

"You can say the same thing over and over again until you're blue in the face, and it doesn't stick unless it's said in the proper language," the mogul told reporters at Manhattan's 40/40 Club, according to the Associated Press.

In an attempt to reach Americans without bank accounts due to poor credit or financial problems, Simmons introduced a prepaid Visa debit card in 2003.

"Money crosses every race, every sex, every religion, every tax bracket," said Orman, who hosts a show on CNBC and has written several books on personal finance. "It is the foundation of your life, whether you want to believe it or not."

The "Get Your Money Right" tour opens May 14 in Detroit, with events planned for Washington, D.C. on June 7, Miami on July 15, St. Louis on Aug. 20, Los Angeles on Sept. 17 and Chicago on Nov. 5.