When it comes to earning a living, we all know that there's a wage gap for Black women. And while we can acknowledge disappointing realities, we can also consider our hopes and still work toward making a dream of financial freedom a reality. There is a specific price tag on certain lifestyles, and even if a soft life is what you're into, it'll cost you.
Many of us simply want to earn enough to pay our bills, make sure our families are thriving, and retire peacefully. With the way this economy has been going, the price of simple survival keeps going up and up. According to a 2023 Pew Research Center report, 40 percent of Black adults in the U.S. say "an annual income of $100,000 or more is enough to lead the kind of life they want." So how do you level up from a five-figure salary to six figures?
First, let's address mindset: If you want to earn more, you have to think from a space of abundance, patience, and strategy, not one of fear, scarcity, and inaction. Take it from entrepreneur Chris Bible, who, when sharing her experience with a six-figure mindset shift, told xoNecole, "Most importantly, I had to embrace that I was worthy and capable of reaching a certain level of success and that it could be done all on my own." This is a powerful first step: Affirming and making a commitment to recognizing you are worthy and capable of reaching a financial goal.
Now let's get to a few ways to get to six figures:
1. Invest in higher education or additional training.
Research has shown that those who have earned bachelor's degrees or higher earn more than those who do not, and the top six-figure jobs require advanced degrees. That's not to say you can't earn six figures without going to college, but it's definitely one sure-fire six-figure path for many.
If you already have a bachelor's degree, consider going for a master's or higher. Find out what advanced skills or credentials are required to get a higher-paying job within your field.
Sometimes, you can get certifications or specialized training to do jobs that aren't necessarily what you went to college for but can enhance what you already offer as a professional, so be sure to look into those, especially if you work in the medical, tech, financial services, or psychological industries.
2. Apply for a new job and negotiate higher pay at the start.
Job hopping doesn't have the stigma attached to it that it used to, and for some, it's the best way to earn more. One good example of this is Chinneah El-Amin, founder of Flynanced. She worked in tech and banking, according to CNBC, and, in her 20s, went from being a senior project analyst (with an offer for $68,000 that she negotiated up to $72,000) to technical project manager (with an offer of $186,000 and she negotiated a signing bonus of $29,000).
True, El-Amin worked in industries that could pay that type of money, but again, if your desire is to earn six figures, the industry you're in (and whether you might want to transition for finance's sake) is something to consider.
Either way, negotiate no matter what, especially if you're a mid- or senior-level professional who has the experience, talent, training, and acumen to lean on.
Just because a company claims a salary is "the best" or "industry standard" doesn't mean you shouldn't negotiate. The worst you could get is a "no," or even better: You find that the company isn't one you want to invest years of your life working for at all, since they don't put dollars behind the most valuable asset in the world: Human capital.
3. Start a lucrative side hustle.
This one is a given. Side hustles are always promoted in stories like this, but you just can't get away from facts. Some side hustles can add more than $4000 to your monthly income if done just part-time, especially if you're savvy with tech, social media, or digital marketing. Other lucrative side hustles include offering services or products via e-commerce, personal fitness and/or wellness, mobile notary, and travel agents.
4. Sell your expertise and talents via speaking, digital products, or consulting.
This is yet another way to earn six figures and even transition out of a 9-to-5. If you have a gift for communications, public relations, marketing, or teaching, you can create workbooks, audiobooks, art, tutorials, and courses for download. (This couple started making six figures after selling patterns for doll clothes, for example.) If you're not great with actually creating and marketing the concept, take it to a freelance professional to bring it to life and market it for you. Take a few courses, research the best platforms (and their fees), and invest in a reputable tutorial on how to create and market digital products on social.
Another great way to add to your current salary is to get paid for speaking engagements or consulting gigs at schools, organizational retreats, churches, or conferences. Get a speaking or consulting mentor, join a networking organization, pursue more training to prepare you for success, and tap into your personal and professional communities to find out where you can serve through speaking.
5. Bonus: Invest, invest, invest.
Technically, this isn't really tied to your salary, but investing can help you add to your overall bottom line and prep for financial freedom in the future. I can't say this enough: At a minimum, be sure you're tapped into your company's 401K and that you know whether they're matching your investment or not. Let it grow, and avoid withdrawing from it if you can. If you're not into the idea of investing with your company's retirement options (or your company doesn't offer any), consider your options for an IRA (individual retirement account).
Above that, start investing via an online platform or open a brokerage account. (Here are a few good beginner-friendly options). Be inspired by women like Tiffany James, who turned a $10,000 stock market investment into a million-dollar portfolio. True, investing in stocks can be risky, but there are opportunities to add to your wealth if this is something you're willing to be patient and diligent about.
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'He Said, She Said': Love Stories Put To The Test At A Weekend For Love
At the A Weekend For Love retreat, we sat down with four couples to explore their love stories in a playful but revealing way with #HeSaidSheSaid. From first encounters to life-changing moments, we tested their memories to see if their versions of events aligned—because, as they say, every story has three sides: his, hers, and the truth.
Do these couples remember their love stories the same way? Press play to find out.
Episode 1: Indira & Desmond – Love Across the Miles
They say distance makes the heart grow fonder, but for Indira & Desmond, love made it stronger. Every mile apart deepened their bond, reinforcing the unshakable foundation of their relationship. From their first "I love you" to the moment they knew they had found home in each other, their journey is a beautiful testament to the endurance of true love.
Episode 2: Jay & Tia – A Love Story Straight Out of a Rom-Com
If Hollywood is looking for its next Black love story, they need to take notes from Jay & Tia. Their journey—from an awkward first date to navigating careers, parenthood, and personal growth—proves that love is not just about romance but also resilience. Their story is full of laughter, challenges, and, most importantly, a love that stands the test of time.
Episode 3: Larencia & Mykel – Through the Highs and Lows
A date night with police helicopters overhead? Now that’s a story! Larencia & Mykel have faced unexpected surprises, major life changes, and 14 years of choosing each other every single day. But after all this time, do they actually remember things the same way? Their episode is sure to bring some eye-opening revelations and a lot of laughs.
Episode 4: Soy & Osei – A Love Aligned in Purpose
From a chance meeting at the front door to 15 years of unwavering love, faith, and growth, Soy & Osei prove that when two souls are aligned in love and purpose, nothing can shake their foundation. Their journey is a powerful reminder that true love is built on mutual support, shared values, and a deep connection that only strengthens with time.
Each of these couples has a unique and inspiring story to tell, but do their memories match up? Watch #HeSaidSheSaid to find out!
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Are You & Your Partner Financially Compatible? Here’s How To Tell.
With nearly half of all marriages that end in divorce citing finances as the nail in the coffin to deading their relationship, financial compatibility is one aspect of long-term compatibility that doesn't get talked about enough. Beyond the circular 50/50 discourse and whatever hot-button issues regarding providers and the like, at its core, financial compatibility is about how well your financial behaviors, values, and long-term goals align with those of your partner.
More than it is about how much money a person makes or doesn't make, financial compatibility focuses on how you think about money, how you spend your money, and most importantly, how you plan for the future with your money. Think, questions about money mindsets, spending habits, debt, budget, etc. Are you a saver and he's a spender? Do you see money as a tool for freedom? Does he see it as something to hold on tightly to as a means of survival? Can you talk about your financial goals and plans openly?
Knowing if you and your partner are financially compatible can save a lot of heartache, a lot of headaches, and a lot of money in the end. Keep reading for a few key indicators to pay attention to and learn whether or not you and your partner are truly aligned financially.
Signs You’re Financially Compatible
1. You can talk about money without judgment.
Conversations about money aren't something you dread. You're able to talk to your partner freely and openly about money matters, like debts, bills, the budget, etc., even when it is uncomfortable. There is an understanding that talking about money doesn't have to be something you're on the defense about, instead it's an opportunity for transparency, clarity, and solutions.
2. You respect each other's money personalities.
What is a money personality? According to Ken Honda, author of Happy Money, a money personality is our "approach and emotional responses to money" and there are seven money personalities we can fall under. These personalities can help us understand our own relationship with money, as well as our partner's. For example, maybe you're someone who likes to treat yourself to a fancy dinner once a month and your partner is someone who believes ordering takeout and not cooking meals at home is a cardinal sin.
When you can respect each other's money personalities, neither approach is subjected to judgment and shifts can be made in each other's spending habits as needed and from a place of love versus guilt or shame.
3. You agree on what it means to have "financial security."
Whether it’s building a stacked emergency fund, paying off debt before putting a downpayment on a home or being able to splurge on a baecation without checking your account balance before the bill arrives, your definitions of what it means to be financially secure are in sync, or at least compatible enough to reach a compromise.
4. You are not each other's "financial parent."
You’re not constantly teaching, fixing, or stressing out over what the other person is doing with their money. Although I fast-forwarded through a lot of the most recent season of Love Is Blind, I did pay attention to Virginia and Devin and money seemed to be a recurring theme in their conversations. It was clear Virginia had her ish together when it came to money and her financial plans for the future and Devin was not quite on her level.
Though she said no at the altar for additional reasons, I could also see how sis could eventually get very tired of being her partner's second mama, so to speak. And that's the thing about being your partner's "financial parent," eventually, you could end up feeling like you are one-half of a "parenting" or "teaching" dynamic with your partner instead of feeling like you're equals in a partnership.
5. You make financial decisions with each other in mind, not for each other.
Whether it’s booking a trip, deciding which debt to tackle first, saving up for a big purchase, or planning out your next move, there’s a mutual respect for each other’s input. Those shared goals might look like wealth, freedom, stability, or just a debt-free life that feels soft and secure.
You don’t have to be chasing the same bag in the same exact way, but you do need to be aligned on the vision. What you're building should feel like a joint venture with shared effort and purpose, not one of y’all making major money moves like you're still single. Making financial decisions is not just about where the money goes, it's about where you’re going together.
6. You're aligned when it comes to the big stuff.
Financial compatibility extends to the long-term of money management. The legacy, structure, and shared responsibility that comes with decisions like shared accounts, estate planning, having babies, or even blending families. Will you split bills or combine income? Who’s taking time off if you have a child? How do y’all feel about generational wealth or investing for your family’s future? You and your partner have had the real conversations.
These conversations can’t wait until after the wedding or until after a baby’s here. They’re the foundation for how you function as a unit, and if you're not aligned, or at least willing to get on the same page, that incompatibility can cause friction in the end that love alone can't fix.
Love is cute and all, but building an empire together? That’s the real flex. Tap into our new series Making Cents to see what financial compatibility really looks like when love and legacy go hand in hand.
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