Lil Baby opened up about his financial journey during his candid appearance on Lil Yachty’s A Safe Place podcast, revealing the tough lessons he had to learn the hard way. He shared how, early on, he didn’t know how to manage money properly. “The only thing I knew how to do was spend or buy some drugs,” he admitted. “We didn’t learn investing and accounting.” He sought financial guidance by reaching out to industry figures like Rick Ross and 21 Savage.

Baby went on to discuss his struggles with taxes, explaining how he initially didn’t understand the importance of paying them. “I got over $100 million from labels and deals, and nobody told me how to pay my taxes,” he said. His early financial mistakes included saving too much money, which led to high tax bills. “I didn’t know you needed to spend money the right way to save on taxes,” he added. After learning the hard way, he now pays his taxes quarterly and advises fellow rappers to do the same.

Looking ahead, Lil Baby revealed plans to release two new albums in 2025. His first album, WHAM (Who Hard As Me), drops on January 3, while his second album, Dominique, named after his real name, is expected to arrive shortly after. He described the two albums as representing different sides of him: WHAM showcases his “turnt” lifestyle, while Dominique is more introspective, where he plans to be more open with his fans.