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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
How This New Bond Repair Line Transformed One Mother's Postpartum Shedding Into The Ultimate Curl Comeback
This article is in partnership with SheaMoisture
For Crystal Obasanya, her wash day woes came shortly after her son did. The beauty and lifestyle content creator had been natural for years, but during postpartum, she quickly learned about one reality many mothers can relate to experiencing: postpartum hair loss. “Sis had thinning hair. Sis had split ends,” she shared about her hair changes in a Reel via xoNecole.
Over a year into her postpartum journey, Crystal explained she also had dry, brittle hair, noting that keeping it hydrated before pregnancy had already been “a task.” The 4C natural recalled going from thick hair during pregnancy to a thin hairline due to postpartum shedding as “devastating.” When it came to strengthening and revitalizing her hair, the new SheaMoisture Bond Repair Collection was just the thing she needed to elevate her damaged coils to revive and thrive status and get them poppin' again.
SheaMoisture is providing us with the cheat code for transforming dry and damaged strands into thriving and deeply nourished crowns. By unveiling their 4-step hair system, the SheaMoisture Bond Repair Collection is equipping you with the tools to reverse signs of hair damage caused by protective styling, heat, and color and is uniquely formulated for Type 3 and 4 hair textures.
The haircare system revives damaged natural hair by repairing and rebuilding broken hair bonds through a game-changing combination of HydroPlex Technology and AminoBlend Complex, a unique blend of fortifying amino acids formulated specifically for curly and coily hair. Scientifically proven to reduce breakage by 84% and make your hair six times stronger (vs. non-conditioning shampoo), the collection infuses your hair with the nourishment it craves and the strength it deserves.
All five products of the SheaMoisture Bond Collection are infused with natural strengthening ingredients like Amla Oil and fair-trade shea butter. The collection consists of the 4-step breakage-fighting Bond Repair system, as well as the Bonding Oil.
“When trying it out, I quickly noticed that my hair felt revived and renewed, and my curls were so hydrated,” Crystal said while using the Amla-infused Bond Repair Leave-In Conditioner. “I also felt my hair strands were stronger.” So much so that the influencer felt brave enough to get her hair braided shortly thereafter. “I can definitely say that I will be keeping it in my hair wash routine,” she added in the caption of her Reel about her positive experience using the products.
SheaMoisture Bond Repair Collection is making bond-building a key player in your wash day routines and the purveyor of life for thirsty manes. Because who doesn't want stronger, shinier, happier hair?
Step One: Bond Repair Collection Shampoo
Rejuvenate your hair with SheaMoisture Bond Repair Shampoo, your go-to solution for luscious locks. Packed with hella hydration power, this shampoo adds moisture by 60% while removing buildup without stripping your strands. This shampoo gently cleanses impurities while significantly enhancing shine, smoothness, and softness.
The Bond Repair Collection Shampoo is the first step in the 4-step Bond Repair system, all of which are powered by the uniquely formulated AminoBlend, and HydroPlex, SheaMoisture’s technology that rebuilds hair strength at its core.
Step Two: Bond Repair Collection Conditioner
Tailored to repair styling damage, this creamy conditioner locks in 12x more moisture than standard non-conditioning shampoos, boosting damaged hair strength by 1.5x with significantly less breakage. The creamy SheaMoisture Bond Repair Collection Conditioner deeply hydrates, enhances manageability, and leaves your hair looking healthier and shinier.
Step Three: Bond Repair Collection Masque
This Ultra Moisturizing reparative masque is a moisture-rich game-changer for those dealing with the aftermath of hair damage caused by styling. The SheaMoisture Bond Repair Collection Masque delivers 13 times more moisture compared to non-conditioning shampoos, ensuring your hair feels nourished and soft. Designed to repair and rejuvenate, this masque significantly strengthens damaged hair — making it twice as strong while reducing breakage.
Step Four: Bond Repair Collection Leave-In Conditioner
Elevate your curl game with SheaMoisture’s Bond Repair Collection Leave-In Conditioner. Lightweight and hydrating, the Bond Repair Leave-In Conditioner provides 12x more moisture than non-conditioning shampoos and tames frizz with 24-hour humidity control. Designed to define curls and coils, the leave-in conditioner enhances softness and shine allowing you to detangle effortlessly.
Bonding Oil
The SheaMoisture Bond Repair Collection Bonding Oil is a multitasking all-in-one formula that acts as a heat protectant and provides the hair with moisture, strength, shine, damage protection, and intense nourishment. This lightweight oil not only offers 24-hour frizz and humidity control but also fortifies your tresses, making them up to 5 times stronger with significantly less breakage.
Featured image courtesy
It’s funny how a breakup can be the best or worst thing that’s ever happened to you. It has the power to completely change your life, whether it knocks you down or empowers you to evolve. Either way, whatever happens next is up to you. That can feel like a lot of pressure when you don’t even want to get out of bed. But sometimes, all it takes is a moment of encouragement, inspiration, and motivation that you’re not crazy for wanting to send that drunk text or stalk your ex on social media.
But in those heartbreaking moments, you can tap into your inner resilience and strength, knowing that there’s a reason the relationship came to an end. Whatever that is, please trust that whatever is meant for you will be so much better, including the you that comes out on the other side.
This is the perfect time to heal, rediscover you, and open yourself up to love again. Here are 12 books to help you do that and more.
Power Moves: Ignite Your Confidence and Become a Force
Whether you were the initiator or the receiver of a breakup, the end of a relationship can be traumatic. But it can also help you find the confidence you might have lost in the aftermath. Sarah Jakes Roberts’ Power Moves: Ignite Your Confidence and Become a Force reminds you that your true self is worth loving and pulls you out of the status quo that you might have fallen into in your relationship. It lets you know that it’s more than okay to clap for yourself and the growth you’ve accomplished while unleashing your boldness. Tap in!
Win Your Breakup: How to Be The One That Got Away
Amazon
Nobody wins when the relationship ends. But if we’re honest, many of us want the other person to at least regret the parting of ways. Like, did we matter at all? Natasha Adamo’s Win Your Breakup: How to Be The One That Got Away talks us off the ledge of trying to prove that we have the upper hand (and quoting Beyoncè’s “She ain’t no divaaa” under anyone’s post that your ex appears to be moving on with).
Instead, Adamo motivates us to focus on our own journey after the breakup because it will be tough enough without being preoccupied with what our exes are doing. You have a whole life after this, and your best days are ahead of you, not behind. You truly win when you decide to walk away from whatever negativity came with the breakup and focus on you. ‘Cause we’re not looking back, sis.
Emotional Self-Care for Black Women
Amazon
One of the best things you can do in this moment is be selfish and think about you. If self-care is a priority in your healing journey, think about diving intoEmotional Self-Care for Black Womenby Alicia Magoro. It takes you through the process of improving your self-esteem, getting rid of negative thoughts, and truly healing from past traumas, each of which is crucial after a breakup. No matter how crazy life is as you try to put the pieces back together, taking moments to truly uncover the reality of your feelings and emotions is essential to your healing.
Break Up With What Broke You
Amazon
I feel like a key step in getting through a heartbreak is cookie dough ice cream, any Shonda Rhimes show, and a box of tissues. But unfortunately *sigh* that can’t last forever. When it’s time to push through, Break Up With What Broke You by Christian Bevere is waiting for you. When you’re ready to overcome the comfort of who you’ve always been, this book helps you evolve into who you’ve been meant to be all along. If you need a book that provides steps with compassion and grace instead of a no-nonsense approach, this is for you (cause who’s trying to get their feelings hurt?)
How To Get Over A Boy
Amazon
‘Cause that’s all we’re trying to do, right? I love the theory of How To Get Over A Boy by Chidera Eggerue because it reminds us that men, or any partner we have, do not belong on a pedestal. As amazing as they may be, you’re just as dope! Eggerue isn’t having you tap into your inner fineness to help you find a man or get a text back with outdated tactics. No, sis. This book is all about reminding you that you are the true prize, and there’s nothing wrong with carrying yourself as such. Yes, wanting to be in a relationship again is natural and inevitable. But for now, it’s also okay to find satisfaction with yourself.
Didn’t See That Coming: Putting Life Back Together When Your World Falls Apart
Amazon
All of the signs may have been there, but a breakup can still be shocking. We’ve tried to see the best in our now-ex, and it may have left us holding the bag. Any breakup can be devastating, but if you’re trying to get through a traumatic one, add Didn’t See That Coming by Rachel Hollis to your list. The title alone is funny because it’s ironic and true. And in all seriousness, it pulls you out of being stuck in your pain and trauma and encourages you to be a better you when all is said and done. Your breakup doesn’t have to be detrimental to your life. It can be a turning point to help you transition into the woman you never thought you could.
I Almost Forgot About You
Amazon
Isn’t it crazy how after a breakup, almost everything reminds you of that person? From a song that’s shuffled into your playlist and inside jokes to a hilarious viral video on social media, it feels like you can’t escape. Thankfully, our good sis Terry McMillan did her good work with her novel I Almost Forgot About You. No, it’s not a non-fiction book that gives you ways to get through your heartbreak, but it tells the story of a woman named Dr. Georgia Young, who’s going through a transformation of her own to find her inner shero after quitting her job and relocating. The relatable ups and downs she experiences as she bravely takes on unexpected risks can inspire and let you escape for a while.
Sis, Don’t Settle: How to Stay Smart in Matters of the Heart
Amazon
Following our hearts is all fun and games until it leaves us in an agonizing situation. Sis, Don’t Settle by Faith Jenkins gives us a much-needed reminder not to give in to the desire to be in a relationship just to avoid being alone. Whether your ex checked every box on your list or you compromised because you saw potential in what it could be (we’ve all been there, love), let’s decide to not let our hearts or emotions cause us to settle for less. I love this book because it drops the fluff and gives relatable ways to be smart about love, have healthy and loving relationships, and not rush the process.
The Art of Letting Go
Amazon
I read a meme that said, “If overthinking was a sport, I’d be an Olympic gold medalist.” And I felt seen. After a breakup, it’s so easy to replay those final moments in your head over and over again, especially if you were blindsided. The Art of Letting Go: Stop Overthinking, Stop Negative Spirals, and Find Emotional Freedom (The Path to Calm) by Nick Trenton walks you through doing exactly that.
No matter what happened, the brutal reality is we can’t do anything to change it, and mentally running it on a loop does more harm than good, sis. This book lets your mind be a safe place full of peace and tranquility instead of a battle zone. It inspires you to embrace the present without yearning for the past or being afraid of the future.
The Breakup Bible: The Smart Woman's Guide to Healing from a Breakup or Divorce
Amazon
Like many books on this list, The Breakup Bible: The Smart Woman's Guide to Healing from a Breakup or Divorce empowers you to channel your inner power, rediscover your worth, and flourish like you’ve always wanted. If you’re like me, you might not know where to start after a major (and possibly unexpected) life transition. How do you even begin to move on without sitting in the aftermath for too long?
This book, penned by Rachen A. Sussman, serves as a guide for you to truly heal from the devastation one step at a time. Because it’s okay to take things slow. It features three phases of recovery — healing, understanding, and transformation — providing a clear road map to not just surviving a breakup, but coming out whole on the other side.
I love this version of myself that you brought out: a memoir of a broken heart
Amazon
Can we just take a second to salute the power of a breakup? Whether it sparks your international solo eat, pray, love journey or makes you truly consider what you want in life for you, as horrible as it can be, good things can come out of the parting of ways. I love this version of myself that you brought outby Jaymen Chang gets real about the good, bad, and the ugly, from wishing you could unsend that vulnerable text message, to waking up one day feeling different and ready to move on. Pick this one up when you’re ready to cry it out, process, and enter your season of becoming.
When You’re Ready, This Is How You Heal
Amazon
When the dust settles, how are you for real? You may be excited about the idea of using your breakup as an excuse to glow up, or you may be heartbroken and just aren’t in the space to think beyond turning on Mary J. Blige and drinking wine in a bathrobe. And that’s okay. When You’re Ready, This Is How You Heal by Brianna Wiest encourages you to embrace the true work of your healing journey. It can be soul-crushing, yet rewarding. With dozens of essays geared toward your process, this book realizes that it doesn’t take one day or one thing to heal.
It’s an ongoing life moment as you recover from the person (or people) who just wasn’t the best for you. As you find yourself again and welcome the things and people who truly love you, you’ll flourish even through the pain.
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