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
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'K' is a multi-hyphenated free spirit from Chicago. She is a lover of stories and the people who tell them. As a writer, 9-5er, and Safe Space Curator, she values creating the life she wants and enjoying the journey along the way. You can follow her on Instagram @theletter__k_.
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Everything Kerry Washington Has Said About Her Husband Nnamdi Asomugha
Actress Kerry Washington and her relationship with her husband, actor Nnamdi Asomugha, is the perfect example of a winning team.
The pair became an item following a chance encounter in 2009, and many years later, on June 24, 2013, Washington and Asomugha would secretly tie the knot. Since then, the high-profile couple has expanded their blended family by welcoming two children, a daughter Isabelle Asomugha, 8, and a 6-year-old son Caleb Asomugha. Asomugha also has a daughter from a previous relationship.
Despite Washington and Asomugha choosing to live a relatively private life for the most part by not sharing images of their family on social media and occasionally attending events together. The rare glimpses they provide to the public showcase that Washington and Asomugha have much in common regarding essential topics.
For example, Washington is highly involved in politics and encourages others to participate by spreading information about various issues and how everyone would be affected.
As for Asomugha, the 41-year-old officially founded the Asomugha Foundation in 2010, years after doing other charity work in Nigeria. According to its site, the organization was created to help "disadvantaged youth and women by providing educational opportunities and mentorship."
Washington's public remarks regarding her relationship with Asomugha and their family may be rare, but when she does speak about their family, it's all positive.
Kerry On Why She Keeps Her Relationship Private
Photo by Bryan Bedder/Getty Images for Bronx Children's Museum
In March 2016, the UnPrisioned actress revealed during a discussion panel at SXSW Festival that one of the reasons why she is adamant about remaining private about her union with Asomugha is because she doesn't want the public to make any narratives regarding her marriage.
At the time, it was reported that Washington and the former NFL player were experiencing marital troubles and were allegedly planning on getting a divorce. Washington would shut down those allegations by saying she hasn't and will not share any information about her private life.
"Social media has actually been great for [other celebrities'] relationships with the weeklies or the gossip sites because people say things and they say, 'That's not true!' So I'm thinking in some ways, it's been great because people are able to maintain their voice," she explained.
"It's a little different for me because I don't talk about my personal life. That means not only did I not tell you when I was getting married, it also means if somebody has rumors about what's going on in my marriage, I don't refute them, because I don't talk about my personal life."
Kerry On How She Met Nnamdi And What A Normal Day Looks Like for Their Family
Fast forward to October 2018, the Scandal star gave insight into how she met Asomugha and their family life. During an interview with Marie Claire, Washington shared that she and Asomugha met in 2009 while she was working on the Broadway play Race.
The mother of two told the publication that her life has "completely transformed" since their encounter. "The last time I did theater, it completely transformed my life. That's where I met my husband. I love being with my family. My days off look like homework, reading, and watching stuff. Just hanging out, doing things we love to do," she stated.
Kerry On Nnamdi's Accomplishment
Photo by Jeffrey Camarati/Getty Images
But as time progressed, Washington began speaking a little more openly about her man. In October 2022, Washington gushed over Asomugha and his Netflix project, The Good Nurse, which came out around the same time her film, The School for Good and Evil, was released. While talking to Entertainment Tonight, the star expressed how "proud" she was of her husband.
"I'm really proud of him, I think he's doing amazing work. I'm really excited for his film, The Good Nurse," she said. "It's really exciting to both have really important films at Netflix right now, we feel really blessed.”
Kerry On Why Nnamdi Is Her Soulmate
Washington shared how her love with Asomugha goes beyond the surface after spending over a decade together.
In a March 2023 interview with Marie Claire, Washington explained that she and Asomugha are perfectly aligned because she's allowed to be her authentic self with him.
"I'm in my immediate truth with [him]," Washington said. "Those mirrors are important because they help me get back to myself."
Kerry On The Couple's Upcoming 10-Year Wedding Anniversary
Photo by Bruce Glikas/Getty Images
That same month, Washington expressed that in addition to the many years the couple has been together, and their personal and professional accomplishments, she still finds Asomugha "incredible."
Washington shared this revelation while promoting her latest project, UnPrisioned, in an Entertainment Tonight interview.
"I do have an incredible husband," the actress told ET host Kevin Frazier as she disclosed little to no details about their upcoming plans for their tenth wedding anniversary. "Do you remember how secret my wedding was? How private and secretive it was? That's how the anniversary is gonna be too!"
Kerry On Why She Thinks Nnamdi And Their Children Are A Gift From God
Washington's love and admiration for Asomugha and their family grow increasingly each day, so much so that she uses it as inspiration to share positive messages with her fans.
The 46-year-old revealed during a panel with Al Sharpton at National Action Network Convention on April 12 that she sees her husband and their children as "proof" that God exists and loves her because of the great joy they bring to her life.
"Well, you've met my husband, my husband's amazing. I got a good one. We have three beautiful children. And I think, you know, when I look at my marriage, and I look at my kids, fundamentally, they are proof of God to me,” she said. "Because I know that God loves me to have put those people in my life. And that sense of like, knowing that God loves me. That, to me, is so much of how I make the decisions about the activism that I do and the content that I make."
Regardless of what the public may think about Washington and Asomugha's private union, they are proving with each moment that love can conquer all.
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Feature image by Arturo Holmes/MG23/Getty Images for The Met Museum/Vogue