

This Accountant's Worst Money Decision Was Not Trusting Her Gut
Money Talks is an xoNecole series where we talk candidly to real women about how they spend money, their relationship with money, and how they get it.
Dora Belle is more than your average pretty girl from Long Island, New York - she's an entrepreneur, accountant and the founder of The Tax Collective. The Brooklyn-based beauty successfully runs a tax firm that focuses on small- and mid-size businesses, startups, and tax audits while keeping her personal finances in check. As a licensed enrolled agent who possesses the ability to represent her clients in tax court, she has proven that being a beautiful woman can include brilliance and crunching numbers.
Courtesy of Dora Belle
When the St. John's University honors graduate was asked by xoNecole about the worst money or business-related decision she's ever made, Dora responded, "I didn't trust my gut." Clearly as someone who has worked for New York State Department of Taxation and Finance, Morgan Stanley, and Ernst & Young in the Private Client Services group where she specialized in high-net worth individuals with assets in management of over $2 million, her intuition hasn't steered her too far in the wrong direction.
xoNecole had the chance to catch up with The Tax Collective founder for the latest installment of "Money Talks" about traveling through Europe, the importance of investing, and leaving corporate America:
On how much she tries to save per month:
"It depends on the month. My income is not received evenly throughout the year. I have high seasons and low [seasons]. Like during tax season when I'm the busiest, I save over 50% of my income. In the low season, when I'm just managing audits and notices, I try to put away at least 20% of my earnings every month."
"I have high seasons and low [seasons]. Like during tax season when I'm the busiest, I save over 50% of my income. In the low season, when I'm just managing audits and notices, I try to put away at least 20% of my earnings every month."
On whether her savings are in a high-yield savings or a Roth IRA:
"I don't believe the high-yield savings accounts are worth it. On average, you make around $300 a year for every $10,000 you deposit. I tend to recommend Roth IRAs more to my clients. It's especially great for first-time investors. It's a retirement account that you can play with where your money is invested and it grows tax free."
Courtesy of Dora Belle
On defining wealth and success:
"Before I give my opinion on this, I encourage everyone to really think about what these words mean to them individually. It's a large sliding scale when we start to ask the question, 'Am I successful and/or wealthy?', and you should not think about anyone but yourself. You're on your own pace. Be kind to yourself but also be realistic.
"Wealth to me is financial freedom. Financial freedom for me is when all of my student loans are paid off, no credit card debt, and I'm paying a mortgage and not rent. Success and wealth are two different ideas for me. I define success as happiness and being grounded in what I do for a living."
On the lowest she’s ever felt when it came to her finances:
"Now looking back, the lowest was [when I was] living check to check. Not having a savings account and waiting on clients to pay me in order to pay my bills for the month. But while it was happening, I was in the midst of the hustle. I never felt any pain. I never felt low. You have to build brick by brick and just keep going."
On how she overcame it:
"By making more money! (Laughs) I work a lot, sometimes from 8am til 11pm every day, but every hour is worth it when I look at my growth as a business owner from Year 1 to now Year 3. I had to take more risks and put myself and my business out there. I now have multiple streams of income and I don't depend on any one client to make ends meet."
On her biggest splurge so far and why she purchased it:
"My biggest splurge since being an entrepreneur was in 2018 when I traveled to 11 cities in Europe over eight weeks. It was my first year as an entrepreneur and I did it only because I could [and] I finally owned all of my time. Looking back, I could have reinvested that money into my business. But then again, the memories I have are irreplaceable."
On whether she’s a spender versus a saver and how she trains herself to save money:
"I'm somewhere in between, but I'm disciplined when I want something. Saving can actually become addicting. Saving my first $1,000 as a self-employed person was one of the hardest things I ever did. I reinvest my earnings as much as possible, but once I saved the first $1,000 dollars, it became addicting to keep seeing the number increase."
"I believe your 30s are for setting up your 40s. Your 40s are for setting up your 50s. You have to invest in yourself first. I think about the type of life I want to live when I'm 40. Or when I have children. So, I'm actively trying to set myself up with residual income."
Courtesy of Dora Belle
On the importance of investing:
"Investing is extremely important. I invest in real estate, art, and stocks. I believe your 30s are for setting up your 40s. Your 40s are for setting up your 50s. You have to invest in yourself first. I think about the type of life I want to live when I'm 40. Or when I have children. So, I'm actively trying to set myself up with residual income.
"I'm in the stage right now ready to purchase my first piece of property and I'm looking for multi-family homes so I can collect rent. The ultimate goal is to make money while I'm sleeping.
"Investing in art is something I highly recommend. You don't need a large budget to start. Start with your local gallery. Go there and jot down some artist names. Go home and research them. Look at their followers and who they're following. You're looking for other artists that they follow, who are just beginning their career. You can buy a piece for $800 sometimes that could be worth thousands of dollars.
"Stocks are the riskiest of the bunch but can turn into a fun hobby for you. It's all based on your taste. Where do you think the economy is moving to? What industry do you think will be next after the economy recovers from the COVID-19 pandemic? You should read articles to research the company and review their financial statements before investing anything. Look at how much debt is sitting on their books. Look at how liquid they are (cash readily available). Research indicators that experts use to determine a company's short-term and long-term growth. But ultimately, it is based on your taste for the company, your preference. It's your money, don't let any one article or anyone tell you how to spend it."
On establishing streams of revenue and her intentions behind it:
"I went to school for accounting. I have my Bachelor's Degree in Accounting and my Master's Degree in Taxation, so my revenue streams range from accounting, tax preparation, tax strategy, and tax audits. I work with companies with $2 million plus in assets and companies who are just beginning with just their savings account and a dream. The intention is to never be broke! (Laughs) I don't ask anyone for anything and I want to keep it that way."
On unhealthy money habits and mindsets:
"When I had a 9-5, I would go out on the weekends and not check my bank account til Monday or worse when I was forced to because I received an alert. I absolutely cannot run my business like that. I have a spreadsheet for my recurring monthly expenses and automated systems that calculate my income for the month. Knowing where you stand as far as your bank account balance and credit score is the most important money lesson I've ever learned. It starts there."
"Knowing where you stand as far as your bank account balance and credit score is the most important money lesson I've ever learned. It starts there."
Courtesy of Dora Belle
On the change she saw once she changed her mindset:
"A savings account was birthed from it. Not living check to check was [also] birthed, and the ability to hire my first employee who works with me all year."
On the craziest thing she’s ever done for money:
"I've never done anything crazy for money. All money is not good money. I left Corporate America because my peace and sanity is more important to me than making money. I decline new clients if my gut tells me my peace is going to be interrupted."
On the money mantra she swears by:
"You can be intimidated to do the work or you can be broke. The work is the research for the things you are curious about that you believe can make you money. We are all intimidated at one time or another when it comes to a new venture. But you have to take risks. You have to execute. You can't want a thing and be afraid of that same thing."
For more of Dora, follow her on Instagram.
Featured image courtesy of Dora Belle
Exclusive: Gabrielle Union On Radical Transparency, Being Diagnosed With Perimenopause And Embracing What’s Next
Whenever Gabrielle Union graces the movie screen, she immediately commands attention. From her unforgettable scenes in films like Bring It On and Two Can Play That Game to her most recent film, in which she stars and produces Netflix’s The Perfect Find, there’s no denying that she is that girl.
Off-screen, she uses that power for good by sharing her trials and tribulations with other women in hopes of helping those who may be going through the same things or preventing them from experiencing them altogether. Recently, the Flawless by Gabrielle Union founder partnered with Clearblue to speak at the launch of their Menopause Stage Indicator, where she also shared her experience with being perimenopausal.
In a xoNecoleexclusive, the iconic actress opens up about embracing this season of her life, new projects, and overall being a “bad motherfucker.” Gabrielle reveals that she was 37 years old when she was diagnosed with perimenopause and is still going through it at 51 years old. Mayo Clinic says perimenopause “refers to the time during which your body makes the natural transition to menopause, marking the end of the reproductive years.”
“I haven't crossed over the next phase just yet, but I think part of it is when you hear any form of menopause, you automatically think of your mother or grandmother. It feels like an old-person thing, but for me, I was 37 and like not understanding what that really meant for me. And I don't think we focus so much on the word menopause without understanding that perimenopause is just the time before menopause,” she tells us.
Gabrielle Union
Photo by Brian Thomas
"But you can experience a lot of the same things during that period that people talk about, that they experienced during menopause. So you could get a hot flash, you could get the weight gain, the hair loss, depression, anxiety, like all of it, mental health challenges, all of that can come, you know, at any stage of the menopausal journey and like for me, I've been in perimenopause like 13, 14 years. When you know, most doctors are like, ‘Oh, but it's usually about ten years, and I'm like, ‘Uhh, I’m still going (laughs).’”
Conversations about perimenopause, fibroids, and all the things that are associated with women’s bodies have often been considered taboo and thus not discussed publicly. However, times are changing, and thanks to the Gabrielle’s and the Tia Mowry’s, more women are having an authentic discourse about women’s health. These open discussions lead to the creation of more safe spaces and support for one another.
“I want to be in community with folks. I don't ever want to feel like I'm on an island about anything. So, if I can help create community where we are lacking, I want to be a part of that,” she says. “So, it's like there's no harm in talking about it. You know what I mean? Like, I was a bad motherfucker before perimenopause. I’m a bad motherfucker now, and I'll be a bad motherfucker after menopause. Know what I’m saying? None of that has to change. How I’m a bad motherfucker, I welcome that part of the change. I'm just getting better and stronger and more intelligent, more wise, more patient, more compassionate, more empathetic. All of that is very, very welcomed, and none of it should be scary.”
The Being Mary Jane star hasn’t been shy about her stance on therapy. If you don’t know, here’s a hint: she’s all for it, and she encourages others to try it as well. She likens therapy to dating by suggesting that you keep looking for the right therapist to match your needs. Two other essential keys to her growth are radical transparency and radical acceptance (though she admits she is still working on the latter).
"I was a bad motherfucker before perimenopause. I’m a bad motherfucker now, and I'll be a bad motherfucker after menopause. Know what I’m saying? None of that has to change. How I’m a bad motherfucker, I welcome that part of the change."
Gabrielle Union and Kaavia Union-Wade
Photo by Monica Schipper/Getty Images
“I hope that a.) you recognize that you're not alone. Seek out help and know that it's okay to be honest about what the hell is happening in your life. That's the only way that you know you can get help, and that's also the only other way that people know that you are in need if there's something going on,” she says, “because we have all these big, very wild, high expectations of people, but if they don't know what they're actually dealing with, they're always going to be failing, and you will always be disappointed. So how about just tell the truth, be transparent, and let people know where you are. So they can be of service, they can be compassionate.”
Gabrielle’s transparency is what makes her so relatable, and has so many people root for her. Whether through her TV and film projects, her memoirs, or her social media, the actress has a knack for making you feel like she’s your homegirl. Scrolling through her Instagram, you see the special moments with her family, exciting new business ventures, and jaw-dropping fashion moments. Throughout her life and career, we’ve seen her evolve in a multitude of ways. From producing films to starting a haircare line to marriage and motherhood, her journey is a story of courage and triumph. And right now, in this season, she’s asking, “What’s next?”
“This is a season of discovery and change. In a billion ways,” says the NAACP Image Award winner. “The notion of like, ‘Oh, so and so changed. They got brand new.’ I want you to be brand new. I want me to be brand new. I want us to be always constantly growing, evolving. Having more clarity, moving with different purpose, like, and all of that is for me very, very welcomed."
"I want you to be brand new. I want me to be brand new. I want us to be always constantly growing, evolving. Having more clarity, moving with different purpose, like, and all of that is for me very, very welcomed."
She continues, “So I'm just trying to figure out what's next. You know what I mean? I'm jumping into what's next. I'm excited going into what's next and new. I'm just sort of embracing all of what life has to offer.”
Look out for Gabrielle in the upcoming indie film Riff Raff, which is a crime comedy starring her and Jennifer Coolidge, and she will also produce The Idea of You, which stars Anne Hathaway.
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Feature image by Mike Lawrie/Getty Images
Jada Pinkett Smith & Why Authenticity In Black Women Sparks Controversy
Will Smith and Jada Pinkett Smith went to social media to share their Thanksgiving holiday with followers. The pair were surrounded by family and friends Thursday, and both posted how grateful they were to be with the ones they loved. Yet this comes on the heels of Pinkett Smith’s whirlwind of negative opinions and critics forecasting her book would be a flop.
Despite the negative feedback she received, Worthy, Pinkett Smith’s memoir, still debuted at #3 on the New York Times’ Best Seller list on October 25. The greatest backlash she received was centered around her relationship with Smith and the fact that the two had been living separate lives since 2016.
The commentary about their marriage overshadowed the reality that this book is ultimately about her journey to self-worth and the path she’s had to take in order to get there.
Social media comments about her book tour ranged from, “Me counting all the times Jada woke up and chose to embarrass Will Smith,” to podcasts like The Joe Budden Podcast saying, “Take me out the group chat,” which was a sentiment shared by many celebrities and fans alike. Yet, a point made by comedian KevOnStage proved that even though people say they don’t want to know about the Smiths, they’re secretly interested and want to know more.
Since the Smiths were wed in 1997, people have been fascinated with their marriage, and rumors about their marital arrangement have always been a topic of conversation. People continue to speculate that the pair is gay and swingers, and even new allegations have come out that Smith and Duane Martin shared an intimate relationship at one point.
However, despite their consistent united front throughout their marriage in recent years, Pinkett Smith has borne the brunt of backlash in the couple’s relationship, from her entanglement with August Alsina to Smith slapping Chris Rock at the 2022 Academy Awards to the recent truths she’s shared about the couple’s marriage in her memoir.
Individuals are consistently running to the internet to support Smith and villainize Pinkett Smith, from podcast guests saying things such as “She doesn’t like Will, she likes the lifestyle” to deeming her “mean” or "manipulative" because of her facial expressions and demeanor.
Likewise, when you have hosts of daytime talk shows such as Ana Navarro saying, “I think she’s having a relationship with her bank account,” insinuating Pinkett Smith only shared stories about Smith to increase her book sales, it begs the question of where was this same energy when Smith released his memoir?
In Will, Smith discusses both of his marriages and how, in relationships, because of his upbringing, he needed constant validation and praise from his partners to feel secure. He also shared the reality that Pinkett Smith never wanted to be married, just as she never wanted the huge estate they share in California, but he wanted to give it to her despite her feelings about it.
Smith admitted to creating this family empire that only further boosted his ego and what he wanted his legacy to be instead of actually asking his family what they wanted or needed. People praised him for his vulnerability and said his book was an inspiration.
So how is it that one book about a person’s family, upbringing, and journey to self is praised, and another is villainized? The glaring thought that comes to me is, does likability often trump accountability?
People love Smith and his “good guy” persona; he’s always been an attractive, charismatic man that people can relate to, so even when he speaks about the way he mismanaged his marriage and family, it’s seen as growth. On the contrary, because Pinkett Smith doesn’t constantly fawn over him and shares how miserable she was in their marriage, she’s the villain.
People still blame her for not stopping Smith from smacking Rock at the Oscars and share their sentiments about how she embarrassed Smith with her entanglement with Alsina. Though this is a celebrity couple we’ve all followed for years, the question must be asked, how much accountability must Black women be subjected to in relationship to their partners' actions?
Why is it that the media is more interested in the marriage between Smith and Pinkett Smith than her childhood, or the fact her memoir consists of writing prompts, meditations, and methods for other women to find their sense of worth?
Could it be that the larger society doesn’t value Black women having the tools to find their own sense of worth? Or is it that Black women are expected to accept whatever is given to them regardless of how they feel or what they want?
The exclusive interview with Eboni K. Williams (@ebonikwilliams) and Dr. Iyanla Vanzant about if she would date a bus driver seems to have a lot of people talking. You can watch her response tonight on #theGrio. Catch the full interview, here: https://t.co/ctxE0zKFWj pic.twitter.com/BhIO52T2fg
— theGrio.com (@theGrio) May 2, 2023
When Eboni K. Williams shared that she wasn’t interested in dating a bus driver, the internet blew up with individuals saying that Black women need to be less selective with their dating prospects. The commentary around this conversation shed much light on the reality that this demographic is expected and invited to settle in love if they actually want a life partner.
Black women aren’t often given the space to find their joy, fulfillment, or even self-worth because of the responsibility they’re forced to acquire in order to support their families and communities. Yet, “high value” Black men speak vehemently about Black women’s masculinity and inability to submit. We’re often inundated with podcast guests sharing that they’re not impressed by our success and are uninterested in our aspirations.
Black women, from a young age, are taught to place their community first and cater to the men around them regardless of what they do or how they behave.
We see this when young girls are told to put on pants when male relatives come around, we experience it when domestic violence survivors are encouraged not to press charges against their perpetrators, and we even see it when Black women face backlash for dating outside of their race.
The way Pinkett Smith has been treated since sharing the truth about her life and journey of discovering her self-worth is another example of how the world isn’t receptive to Black women being their most authentic selves.
It’s another example we can hold up to illustrate how Black women are expected to be magical but not human.
Even with this article, I’m sure there will be many who want to argue why Pinkett Smith was wrong in her narrative, but at the end of the day, it was her story to tell, and no one has more authority to share her lived experience than her.
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Featured image by James Devaney/GC Images