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This Six-Figure YouTuber Educates Women On How To Make Money Work For You

"You have to treat your money like an employee and let it work for you."

Money Talks

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.

Ladies, I don't know about you, but when I see other women making their coin and a name for themselves through their passions, it just makes me feel all fuzzy inside. Especially when those women spread the wealth of knowledge to help other women earn extra income and secure all of the bags in the process. Contrary to popular belief, there is enough to eat sis, so we can all have a seat at the table. Lyn Allure, founder of Good Girls Gone Boss, is someone who believes that it pays to pay it forward.


The Toronto-based entrepreneur took advantage of the power of the internet and has been able to create multiple streams of income by changing her mindset around money and educating other women on how it's done. With a background in finance, Lyn used her experience in corporate and her bachelor's in Business Administration to jump-start her journey into entrepreneurship. Since leaving her corporate job seven years ago, Lyn has been able to harness the power of the internet to spearhead successful online businesses, including a successful YouTube channel.

Courtesy of Lyn Allure

In July 2020, Lyn launched her online platform Good Girls Gone Boss. She explained its inception, "I started Good Girls Gone Boss as a solution for other entrepreneurial-minded women to connect and share gems along this business journey. When I first started making money on social media and growing my brand, it was a very isolating process. I was in my own little world most of the time. None of my friends were into social media at the time, but I knew I had an interest in YouTube and I saw the potential there."

Lyn continued, "I thought to myself, 'If I can turn a fun hobby into more money, then why not?' So I had to learn how to do things on my own, like how to inquire about brand deals, tips for Google AdSense, affiliate links, etc. After I started to see the money coming in, I thought it would be helpful to really make this community with Good Girls Gone Boss because I figured other women felt isolated as well."

As a solution and a resource, Good Girls Gone Boss offers weekly YouTube videos surrounding personal finance tips, an exclusive community that includes hands-on support and trainings, and financial resources such as a budget workbook. The platform is a space for a community of unapologetically, ambitious bosses who are looking to design, plan, and execute their dream life.

In this installment of "Money Talks", xoNecole spoke with Lyn Allure about how normalizing financial literacy, staying humble, and making your money work for you are the keys to creating financial freedom.

On the definitions of wealth and success:

"With wealth, I believe that aligns with being financially free. To be able to live a quality of life without worrying about if you can afford it or not. I also consider someone being wealthy by the company they keep. You are only as wealthy as the people around you; whether that means helping your friends to get to your level if they are struggling, or passing down wealth for future generations.

"Now, with success, to me, is simply happiness. Not just being content, but being proud of yourself for where you are in life and in a state of bliss. We know success can be different for different people. Success can mean making six figures for some people and for others, it has nothing to do with money at all. Whatever success may mean to you, it should definitely include happiness."

On unhealthy mindsets about money she had to let go of:

"One thing for me was, the idea [that you have] to spend money to make money. You know that saying, 'scared money, don't make money'? That is absolutely true (laughs). I grew up in the hood, so I thought the best mindset about money was to make a lot of it and then save a lot of it. But the reality is, it is not just about how much money you make. It's about how much money you make and how much you invest in order to make more. When you invest, now you have equity and assets that produce income for you. I had to really change my mentality with money early on, in order to get to where I am right now."

"The reality is, it is not just about how much money you make. It's about how much money you make and how much you invest in order to make more. When you invest, now you have equity and assets that produce income for you."

Courtesy of Lyn Allure

On her investments: 

"Right now, I have two main investments. My first investment is a single-family home investment property with tenants. I currently reside in a condo because I have no desire to live in a single-family home for myself. I am not going to be mowing the lawn or doing those other things (laughs). But with my property, I am thinking about renovating the basement and renting that out as well. My second investment is stocks. I try to invest in stocks on a regular basis with buying index funds and stocks in companies I truly believe in."

On her biggest tip to beginner investors: 

"Something that people often think, is that we need to be involved in the finance field 24/7 in order to be a successful investor. That's honestly not the case. If you put money away periodically or every month into an index fund or an ETF, it appreciates. You will be able to see a 7-10% return on that every year. This way is low effort and it's definitely better than just putting your money away into a savings account."

On the worst money-related advice she has ever received: 

"That scarcity mindset around 'don't spend your money because you don't know when you are going to get it back' needs to be thrown out the window (laughs). There is an abundance of money out there and it's really about reframing your mindset around it. A phrase I like to follow is 'a dollar today is worth more than a dollar tomorrow.' So for example, if I am holding on to $10,000 in my savings without putting [it] into an investment opportunity, in 10 years that $10,000 will be worth around $9,000. The money loses its value. You have to treat your money like an employee and let it work for you."

"There is an abundance of money out there and it's really about reframing your mindset around it. A phrase I like to follow is 'a dollar today is worth more than a dollar tomorrow.' You have to treat your money like an employee and let it work for you."

Courtesy of Lyn Allure

On the money mantra she swears by:

"I would say my mantra is 'what doesn't get measured, doesn't get managed.' What I mean by that is, a lot of people do not know what their financial standing is. It can bring up so much anxiety for people because they don't want to face those hard facts of their spending habits. But I find that once you get over that hurdle and really know what your hard-earned numbers are, you realize what steps you need to take to improve it. It's important to manage your money no matter what financial state you might be in. But remember you can't manage it if you aren't measuring it."

On the early challenges that came with starting her business:

"The inconsistency of cash flow when you first start out is real (laughs). I remember one month I made five figures and then the next month I made three figures. I was like ummm, what's going on here? (Laughs) I definitely wasn't prepared for it at the time. But luckily, I referred back to what I preach to my Good Girls Gone Boss community. Do not rely on one stream of income. Think of it as a table. Every single leg is a stream of income. If you only have one leg, then if it collapses, you collapse too."

"Do not rely on one stream of income. Think of it as a table. Every single leg is a stream of income. If you only have one leg, then if it collapses, you collapse too."

On the most important lesson she's learned about creating wealth:

"I have always had this hustler mindset where I had multiple side hustles in college. So I have always been thinking to myself, 'Where's the next job and where's the next check?' (Laughs) But what I have learned is that, I do not need to have multiple jobs in order to make all this money. It is not the key to creating wealth or financial freedom.

"There are only 24 hours in a day. Finding a way to make those passive streams of income with a business has definitely been an eye-opener for me. You also do not need to make a certain amount of money in order to make passive streams of income for yourself. Whatever your salary is, you can still make things happen, especially on the internet."

Read more money mindset conversations in xoNecole's "Money Talks" series here.

For more about Lyn Allure, follow her on Instagram @lyn.allure. You can also subscribe to her YouTube channel here.

Featured image courtesy of Lyn Allure

ACLU By ACLUSponsored

Over the past four years, we grew accustomed to a regular barrage of blatant, segregationist-style racism from the White House. Donald Trump tweeted that “the Squad," four Democratic Congresswomen who are Black, Latinx, and South Asian, should “go back" to the “corrupt" countries they came from; that same year, he called Elizabeth Warren “Pocahontas," mocking her belief that she might be descended from Native American ancestors.

But as outrageous as the racist comments Trump regularly spewed were, the racially unjust governmental actions his administration took and, in the case of COVID-19, didn't take, impacted millions more — especially Black and Brown people.

To begin to heal and move toward real racial justice, we must address not only the harms of the past four years, but also the harms tracing back to this country's origins. Racism has played an active role in the creation of our systems of education, health care, ownership, and employment, and virtually every other facet of life since this nation's founding.

Our history has shown us that it's not enough to take racist policies off the books if we are going to achieve true justice. Those past policies have structured our society and created deeply-rooted patterns and practices that can only be disrupted and reformed with new policies of similar strength and efficacy. In short, a systemic problem requires a systemic solution. To combat systemic racism, we must pursue systemic equality.

What is Systemic Racism?

A system is a collection of elements that are organized for a common purpose. Racism in America is a system that combines economic, political, and social components. That system specifically disempowers and disenfranchises Black people, while maintaining and expanding implicit and explicit advantages for white people, leading to better opportunities in jobs, education, and housing, and discrimination in the criminal legal system. For example, the country's voting systems empower white voters at the expense of voters of color, resulting in an unequal system of governance in which those communities have little voice and representation, even in policies that directly impact them.

Systemic Equality is a Systemic Solution

In the years ahead, the ACLU will pursue administrative and legislative campaigns targeting the Biden-Harris administration and Congress. We will leverage legal advocacy to dismantle systemic barriers, and will work with our affiliates to change policies nearer to the communities most harmed by these legacies. The goal is to build a nation where every person can achieve their highest potential, unhampered by structural and institutional racism.

To begin, in 2021, we believe the Biden administration and Congress should take the following crucial steps to advance systemic equality:

Voting Rights

The administration must issue an executive order creating a Justice Department lead staff position on voting rights violations in every U.S. Attorney office. We are seeing a flood of unlawful restrictions on voting across the country, and at every level of state and local government. This nationwide problem requires nationwide investigatory and enforcement resources. Even if it requires new training and approval protocols, a new voting rights enforcement program with the participation of all 93 U.S. Attorney offices is the best way to help ensure nationwide enforcement of voting rights laws.

These assistant U.S. attorneys should begin by ensuring that every American in the custody of the Bureau of Prisons who is eligible to vote can vote, and monitor the Census and redistricting process to fight the dilution of voting power in communities of color.

We are also calling on Congress to pass the John Lewis Voting Rights Advancement Act to finally create a fair and equal national voting system, the cause for which John Lewis devoted his life.

Student Debt

Black borrowers pay more than other students for the same degrees, and graduate with an average of $7,400 more in debt than their white peers. In the years following graduation, the debt gap more than triples. Nearly half of Black borrowers will default within 12 years. In other words, for Black Americans, the American dream costs more. Last week, Majority Leader Chuck Schumer and Sen. Elizabeth Warren, along with House Reps. Ayanna Pressley, Maxine Waters, and others, called on President Biden to cancel up to $50,000 in federal student loan debt per borrower.

We couldn't agree more. By forgiving $50,000 of student debt, President Biden can unleash pent up economic potential in Black communities, while relieving them of a burden that forestalls so many hopes and dreams. Black women in particular will benefit from this executive action, as they are proportionately the most indebted group of all Americans.

Postal Banking

In both low and high income majority-Black communities, traditional bank branches are 50 percent more likely to close than in white communities. The result is that nearly 50 percent of Black Americans are unbanked or underbanked, and many pay more than $2,000 in fees associated with subprime financial institutions. Over their lifetime, those fees can add up to as much as two years of annual income for the average Black family.

The U.S. Postal Service can and should meet this crisis by providing competitive, low-cost financial services to help advance economic equality. We call on President Biden to appoint new members to the Postal Board of Governors so that the Post Office can do the work of providing essential services to every American.

Fair Housing

Across the country, millions of people are living in communities of concentrated poverty, including 26 percent of all Black children. The Biden administration should again implement the 2015 Affirmatively Furthering Fair Housing rule, which required localities that receive federal funds for housing to investigate and address barriers to fair housing and patterns or practices that promote bias. In 1980, the average Black person lived in a neighborhood that was 62 percent Black and 31 percent white. By 2010, the average Black person's neighborhood was 48 percent Black and 34 percent white. Reinstating the Obama-era Fair Housing Rule will combat this ongoing segregation and set us on a path to true integration.

Congress should also pass the American Housing and Economic Mobility Act, or a similar measure, to finally redress the legacy of redlining and break down the walls of segregation once and for all.

Broadband Access

To realize broadband's potential to benefit our democracy and connect us to one another, all people in the United States must have equal access and broadband must be made affordable for the most vulnerable. Yet today, 15 percent of American households with school-age children do not have subscriptions to any form of broadband, including one-quarter of Black households (an additional 23 percent of African Americans are “smartphone-only" internet users, meaning they lack traditional home broadband service but do own a smartphone, which is insufficient to attend class, do homework, or apply for a job). The Biden administration, Federal Communications Commission, and Congress must develop and implement plans to increase funding for broadband to expand universal access.

Enhanced, Refundable Child Tax Credits

The United States faces a crisis of child poverty. Seventeen percent of all American children are impoverished — a rate higher than not just peer nations like Canada and the U.K., but Mexico and Russia as well. Currently, more than 50 percent of Black and Latinx children in the U.S. do not qualify for the full benefit, compared to 23 percent of white children, and nearly one in five Black children do not receive any credit at all.

To combat this crisis, President Biden and Congress should enhance the child tax credit and make it fully refundable. If we enhance the child tax credit, we can cut child poverty by 40 percent and instantly lift over 50 percent of Black children out of poverty.

Reparations

We cannot repair harms that we have not fully diagnosed. We must commit to a thorough examination of the impact of the legacy of chattel slavery on racial inequality today. In 2021, Congress must pass H.R. 40, which would establish a commission to study reparations and make recommendations for Black Americans.

The Long View

For the past century, the ACLU has fought for racial justice in legislatures and in courts, including through several landmark Supreme Court cases. While the court has not always ruled in favor of racial justice, incremental wins throughout history have helped to chip away at different forms of racism such as school segregation ( Brown v. Board), racial bias in the criminal legal system (Powell v. Alabama, i.e. the Scottsboro Boys), and marriage inequality (Loving v. Virginia). While these landmark victories initiated necessary reforms, they were only a starting point.

Systemic racism continues to pervade the lives of Black people through voter suppression, lack of financial services, housing discrimination, and other areas. More than anything, doing this work has taught the ACLU that we must fight on every front in order to overcome our country's legacies of racism. That is what our Systemic Equality agenda is all about.

In the weeks ahead, we will both expand on our views of why these campaigns are crucial to systemic equality and signal the path this country must take. We will also dive into our work to build organizing, advocacy, and legal power in the South — a region with a unique history of racial oppression and violence alongside a rich history of antiracist organizing and advocacy. We are committed to four principles throughout this campaign: reconciliation, access, prosperity, and empowerment. We hope that our actions can meet our ambition to, as Dr. King said, lead this nation to live out the true meaning of its creed.

What you can do:
Take the pledge: Systemic Equality Agenda
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Featured image by Shutterstock

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