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 spend it.
When you think of a nurse practitioner, you may think of the extras from Grey's Anatomy staged behind Jesse Williams. However, this specific one is doing anything but taking a backseat in the audience, especially when it comes to her finances. 44-year-old Princess Lomax is a family nurse practitioner by day and a sports bar owner at night, all while juggling and maintaining her doctoral candidacy at Valparaiso University. Lomax is conducting in-home assessments for the Medicare population and is the proud owner of Diamonds Sports Bar & Grill, so it's no wonder why she's able to write a book on taking your career to the next level.
Courtesy of Princess Lomax
The Atlanta-based serial entrepreneur's best-selling Amazon book 6 Highly Effective Strategies For Making 6 Figures As A Nurse is a compilation of real-life accounts and experiences of entrepreneurship while becoming a nurse. If you're a young Black woman in the healthcare industry looking to elevate your career beyond the examination room and medical jargon, it might be the read for you.
In this installment of "Money Talks," xoNecole spoke with the Chicago-bred nurse practitioner, real estate investor, and bonafide hustler about making well over six figures a year, splurging on her half a million-dollar home and flipping houses as an extra stream of revenue.
On how much she saves per month:
"Right now, I don't have a set goal for saving on a monthly basis, however, I'm in the process of setting up a portfolio that will allow me to start having money automatically deducted from my account that will go towards an IRA and money for investing in stocks."
On her definitions of wealth and success:
"I define wealth as the power to acquire whatever you desire and the power to put other people in positions to become successful. Being wealthy for me is about putting measures in place so that everybody around me can become wealthy also. I have the desire to uplift and motivate the people around me so that we can attain generational wealth and break generational curses.
"I define success as accomplishing and attaining the goals you've set for yourself. Success for me is a never-ending cycle because I'm always thinking of a master plan to achieve something higher than my last accomplishment. Not that I'm never satisfied, but I always push myself to a higher level that surpasses my current level. It's always me against me. I'm always striving to defeat the old me so that my success will continue to grow."
On the lowest she’s ever felt when it came to her finances and how she overcame it:
"I was born poor and raised in the heart of the ghetto so it doesn't get any lower than that. There were times growing up when I wasn't sure where my next meal was coming from. I didn't have the luxury of heat and hot water, so figuring out where I would bath from day to day was once a lifestyle I endured.
"I overcame being poor by thinking rich and pushing myself until I no longer had to figure out where my next meal was going to come from. I sometimes still have fears of not being able to eat, which is why I continue to grind like my next meal is depending on it. I sometimes have flashbacks of my struggling childhood and pray that God continues to bless me so that I will never have to endure those hardships again. So for me, I overcame it by never forgetting my struggle and by pushing myself on a daily basis to stay on top."
Courtesy of Princess Lomax
"I overcame being poor by thinking rich and pushing myself until I no longer had to figure out where my next meal was going to come from. I sometimes still have fears of not being able to eat, which is why I continue to grind like my next meal is depending on it. I sometimes have flashbacks of my struggling childhood and pray that God continues to bless me so that I will never have to endure those hardships again."
On her biggest splurge to date:
"My latest biggest splurge was the purchase of my new home which was over a half of million dollars. Splurging in the past for me has been the purchasing of Chanel bags, Christian Louboutins, and expensive cars. This year, God has allowed me to level up and splurge in a different way. I'm now a homeowner so my splurging this year has been phenomenal."
On whether she’s a spender or a saver:
"Unfortunately, I am a spender and sometimes wish I was a saver. Growing up poor and not having much of anything and not having anyone in my life to teach me about saving has unfortunately hindered me from being a saver. At one point, I was spending more than I was making, but as my entrepreneurship continues to grow, I'm learning how to save and plan for retirement. I'm still in the process of training myself to save and not spend. My training has just begun and plans for my future and retirement are at the beginning stages."
Courtesy of Princess Lomax
"Growing up poor and not having much of anything and not having anyone in my life to teach me about saving has unfortunately hindered me from being a saver. At one point, I was spending more than I was making, but as my entrepreneurship continues to grow, I'm learning how to save and plan for retirement. I'm still in the process of training myself to save and not spend."
On her savings goals and what retirement looks like to her:
"My saving goal is to save a minimum of $20K a month so that I can retire by the age of 50. Retirement for me as a Nurse Practitioner will be within the next 5-10 years and I don't think I'll really ever retire as an entrepreneur."
On the importance of investing:
"Most of my money has been attained via investing, so investing is extremely important to me. I've learned that if I invest in the right assets, my portfolio during retirement will be prosperous. I invest in real estate purchases and acquiring businesses. I invest mostly in real estate in the Chicagoland area and also invest in multiple businesses that will become great assets in the near future."
On her intentions behind multiple streams of revenue:
"My streams of revenue were established by buying and flipping houses and by owning and operating a successful nightclub and sports bar in the Chicagoland area. Having multiple streams of income became a way of life for me after having slow periods with both real estate and the nightlife industry. Having multiple streams of income has allowed me to continue to be successful without having too many periods of dry spells without income coming in."
On unhealthy money habits and mindsets:
"The number one unhealthy habit that I had to restructure is feeling like I always had to go shopping for the latest Chanel bag and or the latest pair of Christian Louboutins. Once I changed my mindset, I saw the bigger picture for saving and investing more. I now know that I can still look and be great while attending parties and/or events without having to buy a new pair of shoes and or a new bag."
Courtesy of Princess Lomax.
"My streams of revenue were established by buying and flipping houses and by owning and operating a successful nightclub and sports bar in the Chicagoland area. Having multiple streams of income has allowed me to continue to be successful without having too many periods of dry spells without income coming in."
On her money mantra:
"Keep God first and don't ever allow the money to change who you are on the inside."
On desperate times calling for desperate measures:
"Yes, yes, and hell yes. I'm not proud of some of the things I've done in my past for financial gain, however, it has been a part of making me the successful female CEO that I am today. "
On the worst money-related decision she’s ever made:
"The worst money-related decision I ever made was not to invest early-on in stocks. I truly feel that if I had invested in stocks like Amazon instead of buying shoes and bags, my portfolio would be near retirement by now."
On her budget breakdown:
How much do you spend on rent?
"I'm a homeowner now, which allows me to spend less on [a] mortgage than I was paying on renting. $4,000 month."
Eating out/ordering in?
"Both $500 per month."
Gas/car note?
"$2,000 per month."
Personal expenses?
"$3,000 per month."
For more of Princess, check out her website.
Featured image courtesy of Princess Lomax
Originally published on October 9, 2020
- Money Talks ›
- The 33-Year-Old Accountant Whose Worst Money Decision Was Not ... ›
- The 25-Year-Old Culture Manager Who Believes An End Goal Is A ... ›
- The One Mindset Trick This PR Girl Uses To Save $1.5K Each Month ›
- Money Talks: Chanel Nicole Scott, CheMinistry - xoNecole ... ›
- Money Talks: Ariel Adams, The Money Realtor - xoNecole: Women's ... ›
- Money Talks: Samari Ijezie, The Female Economist - xoNecole ... ›
- Money Talks: Timeesha Duncan, 'Olivia Pope of Branding ... ›
- Mindset Shifts To Make To Earn Six Figures - xoNecole: Women's Interest, Love, Wellness, Beauty ›
- On OnlyFans: - xoNecole: Women's Interest, Love, Wellness, Beauty ›
- This Accountant's Worst Money Decision Was Not Trusting Her Gut - xoNecole: Women's Interest, Love, Wellness, Beauty ›
As again, I watched her try and navigate through both relationships as she strived to figure out which man would truly be the best fit for her, I thought about a question that I get emailed on a semi-regular basis. When you’ve been with someone for a while, when you have deep and profound feelings for them, and when you’re not sure if you’re just being “extra” or something really is “off” in the relational dynamic — how do you know if it’s time to stay vs. when it’s time to go?
Before we get all up into this, let me just say that I’m addressing this particular topic from the angle of NOT being married. Because I personally think that the covenant of marriage is way more sacred and serious than a dating situation, I would be giving some different advice for husbands and wives. Also, I’m not including the topic of abuse (neglect included) because I’m hoping it goes without saying that if any type or level of that is transpiring, you definitely need to bring things to a swift and permanent end.
With all of that out of the way, today, we’re going to explore seven questions that you should ask yourself in the instance that you just can’t seem to “scratch the itch” on whether you should remain with your bae…because while nothing is actually “bad,” things are not as good as they used to be either. And since time is precious and you don’t want to waste it, you want to make sure that you’re right where you’re supposed to be.
Are you ready to (hopefully) gain more clarity than you had before clicking on this article? Let’s do this.
1. Do I Get That Even Relationships Have “Seasons”?
GiphyEcclesiastes 3 starts out talking about the fact that there are times and seasons for everything. And you know what? Relationships are not exempt. The reason why I’ve written articles for the site like “The ‘Seasons Of Sex’ That Married People Go Through” is because everything in this life has seasons — you know, periods when things shift. When it comes to the weather, whether we like the season that we’re in or not, we simply adjust because…what choice do we have?
Oh, but when it comes to relationships, so many of us have been conditioned to think that things are supposed to remain one way (usually the way we want it to be), without fluctuating, the entire time, that when there is a season of distance, disconnect or misunderstanding, we automatically believe it’s our cue to bounce instead of taking some time to process if it’s simply a period for communicating, maturing and learning more about our partner.
Listen, there is no way that people can grow without it affecting those around them, especially the ones whom they are closest to. So, before you decide to end things with your significant other, talk to them about what’s going on so that both of you can figure out if you’re going through an unfamiliar or uncomfortable season or if things are transitioning in a way where the relational dynamic no longer serves one or both of you.
Because I’ll tell you what — the people who have mastered longevity in relationships know that just like the weather, sometimes there are things that you have to learn to be flexible about…because even if you’re not thrilled with how certain things are at the moment, just like the weather, oftentimes, those things will change. Just like summer isn’t forever and fall comes in due time.
Plus, if you’re someone who can adapt well, there are pros and cons with different seasons, too. For instance, if this is a season when your partner is working more hours or traveling more than usual, if the goal is to get promoted or stack bread, the extra time that you have for yourself could help you to create some more long-term or short-term goals, pick up a hobby or do some self-work. Then, by the time things level back out, you’ll both be better people because of the “season.” See what I mean?
2. Did I Go into This with Unrealistic or Unfair Expectations?
GiphyI’m gonna tell you, right out the gate, what an unrealistic or unfair expectation is: If you thought that things were always gonna go your way or you were gonna get what you want right when you want it. I can’t tell you how many people have pretty much worn me out in counseling sessions, and it’s all because they thought a relationship was a catering service — that them being happy all of the time was to be the top priority and non-negotiable goal.
WRONG.
Something that wisdom, maturing, and self-reflection will teach you is that one of the main purposes of a relationship is to be with someone you love, respect, enjoy, trust, and can rely on to help you become a better person as you do the same for them. And no, that is not always going to be a fairy tale. In fact, I have said on many occasions that I loathe fairy tales (for adults) because I know what they mean: a story told to children and/or an incredible and misleading account. And don’t even get me started on the women who profess that they are waiting on their Prince Charming. After all, the Bible tells us that “charm is deceitful” (Proverbs 31:30).
Does this mean that you shouldn’t expect to have your needs — and even some of your wants — met? Of course, you should. Yet your needs need to make (reachable) sense. And honestly, a lot of folks could stand to ask themselves if they are able to give their partner all of the things that they expect from them (because many cannot).
So, what are some examples of unrealistic/unfair expectations?
- Expecting your partner to think just like you do
- Expecting your partner to read your mind
- Expecting love to mean that you won’t have to compromise
- Expecting your partner to give above their means
- Expecting your partner to be the sole source of your happiness
- Expecting your partner to love you more or better than you love yourself
- Expecting your partner to put their own needs in jeopardy just to meet yours
- Expecting your partner to always agree with or concede to you
- Expecting your relationship to always have good times and no challenges
- Expecting your partner to be the only one to make sacrifices
- Expecting every expectation to be met
I really was on a roll while writing these out, yet I’m sure you get the gist. Being in a relationship with another human being means that they have their own opinions, perspectives, and expectations — and they aren’t always going to match yours. And so, if you think that the sign of a healthy relationship is that they should, you really should be alone instead of trying to be with someone else. Because that way of thinking is the most unrealistic of them all.
3. Are We Incompatible or Am I Just Impatient?
GiphyWhen you get a chance, please read, “If He's Right For You, He Will COMPLEMENT Your Life.” In another article, I’ll be addressing why love is not enough in relationships. For now, one of the reasons why that is the case is because you can LOVE a lot of people who you simply cannot DO LIFE with. That’s why it really is important to seriously ponder if you and he are compatible or not.
To be compatible means that you share similar values, have like-minded relational goals, want the same long-term things out of life, have at least some of the same interests, and complement each other well when it comes to things like communication and meeting each other’s needs.
Listen, I’ve loved a few men in my life where these boxes did not check off, and because of our feelings for each other, we stayed together far longer than we ever should’ve.
At the same time, what if you are compatible with someone, but you’re just impatient as hell? I’ve been watching the current season ofReady to Love, and there are some women on there who are mad pushy when it comes to the clock. Personally, I don’t even know how you can hop on a show where you just met some dudes and roll up on them talking about how you want to be married by the end of the year. Yeah, it’s another message for another time, the amount of people who are tied to a goal more than a person.
Anyway, sometimes your partner can be in the same chapter as you (love story-wise) yet still not necessarily on the same page. Meaning, say that you want to be married this year, and he wants to wait until this time next year — are you contemplating ending things without considering his frame of mind? Maybe he wants to save money. Maybe he’s trying to secure some things professionally first. Maybe he wants to give you the kind of wedding (and ring) you want without relying on credit to get it.
It's one thing to end a relationship because you both want different things out of life. Oh, but it’s completely different to bounce because you’re used to folks giving into your pressure, ultimatum, or time frames. I’m not the one who thinks that a good man is hard to come by; I know many. I do think finding YOUR FIT isn’t as easy as you might believe, though.
A Canadian writer by the name of Janette Oke once said, “Impatience can cause wise people to do foolish things,” and, to that, the Good Book says that “Loveis patient” (I Corinthians 13:4). If you’re gonna end something, make sure it’s because the puzzle pieces don’t fit; not because you’re too impatient to see how the pieces will create a beautiful picture…when the time is right.
4. Do I Still Love, Like and Respect Him?
GiphyThe married couples whom I work with know that I live by a certain, I guess you can call it a motto: “If you still like each other, you can get back to love.” Liking someone is about enjoying their personality, wanting to spend time with them, and having feelings that are rooted in friendship, acceptance, and appreciation. When those things are present and accounted for, all of the butterflies, googly eyes, and sheer lust that the feelings of love may provide — they can usually get you through the seasons when those feelings seem to be missing.
And respect? Listen, a lot of women get triggered by the fact that the Bible instructs husbands to love their wives while telling wives to respect — respect, not love — their husbands (Ephesians 5:33), yet you know what? If you’re gonna be real with yourself, you know that it’s hard to love a man who you don’t respect — who you don’t esteem. We’re simply not wired to trust a man who we don’t think will be a good provider, protector, and leader on some level.
Confession time: I stayed in a relationship with someone who I really liked, kind of loved, and absolutely did not respect (as a man) for quite some time, once upon a time. And all it did was make me resentful and him insecure — and that was a form of mental and emotional torture for both of us.
You’re not doing a man any favors by staying with him if you don’t respect him. And it doesn’t make sense to try and build a future with someone who you don’t like a ton. As far as love goes, love is a beautiful thing — very. All I’m saying is, like, love and respect are a package deal when it comes to how we see a man. If one of those things is missing, ask yourself why and then be honest about if anything can be done to change how you’re feeling or…not.
5. What Would Improve About My Life If I Leave?
GiphyThis right here. Although this article is for people who are dating and not married, I do think it would be beneficial to put on record that, on average, somewhere between 30-40 percent of people regret getting a divorce. I think one of the main reasons is because the person you were when going into a marriage isn’t the person you are leaving it. You’re older. Dating dynamics in society have changed (and are ever-changing). You probably have a different set of life circumstances that may make dating more challenging (for instance, you may have kids now, and it takes a very special person to be a good potential stepparent).
Unfortunately, a lot of people will leave a relationship without considering this, only to have the ice-cold water of reality hit them smack dab in the face.
Now listen, I will be the first person to say that one of the major perks of dating is you don’t have to try and put the same effort into your relationship as married folks do. In fact, all of these non-engaged folks who spend months and years in couples therapy to try and make things work? Unless you’re someone who is in a long-term relationship with no desire to ever get married (check out “12 Couples Reveal Why They're Happy With A Long-Term Commitment Instead Of Marriage”), I don’t even get why you’re going through all of the trouble (or is it drama?). Some people have acted married before marriage so often, they don’t take marriage seriously enough when it finally does happen for them. SMDH.
This is where this particular question comes in. When you’re just dating, you really don’t have to hold on for dear life. You’re not “failing” if you realize that someone really is awesome — just not the right or best fit for you. And the reason why you know this is because you can actually name more than three ways that your life would get better if you left them alone.
Maybe you’d feel less stressed out. Maybe you’d have more time to focus on some personal ambitions. Maybe you’re compromising some core values that you want to get back to. Maybe they have you questioning some things about yourself that you know you shouldn’t be. Sometimes it’s as simple as maybe you’re feeling like something/one is better for you, and you know you won’t find them while you’re still…where you’re at.
This particular question really is underrated on a lot of levels because, while a lot of people are out here ending relationships on an emotional impulse, when you know that you’re leaving because you have a literal list of how your life would improve if you did dip out, that makes grieving the relationship less painful and finding closure, on some levels, less necessary (as far as dragging things out are concerned).
6. What Would Be Beneficial If I Stay?
GiphyIf something (or one) isn’t making you better, it’s either keeping you stagnant or making you worse, and you know what? Neither of those are good. So yeah, it’s also wise to ask yourself how you would benefit — mind, body, and spirit — to stay where you’re at. And honestly, one of the best ways to figure out the answer to this question is to fully take in a relationship-based quote that I have shared on the platform before:
“As soon as the love relationship does not lead me to me, as soon as I in a love relationship do not lead another person to himself, this love, even if it seems to be the most secure and ecstatic attachment I have ever experienced, is not true love. For real love is dedicated to continual becoming.” (Leo Buscaglia)
When something (or someone) benefits you, they are helpful, they are useful, they are constructive. No, this does not speak to transactional dating (which is oftentimes very self-centered and mercenary); what this means is they are improving your quality of life — prayerfully, on several levels. And no, this does not mean that everything is easy all of the time, either.
Sometimes, what helps you is constructive criticism. Sometimes what’s useful for you is being challenged in ways you’ve never been before. Sometimes what’s constructive is learning how to be more flexible, understanding, and forgiving (umm, like you would want your partner to be towards you…right?).
So, just like you should ask yourself how you would get better if you left, be real about how you are becoming better by staying. This is where a good old-fashioned pros and cons list comes in super handy. If the “improve” outweighs the “beneficial,” if you know that you are not becoming more of who you need to be thanks, in part, to the influence of the relationship…well…I’m sure you get what I’m about to say…about that.
7. Have I Been Here Before?
GiphyA wise person once said, “Everywhere you go, there you are” and boy, can it be a hard pill to swallow sometimes. Something else that I’m a firm believer in is that the universe will keep you in the same “life class” for decades if needed, until you learn whatever it is that a particular lesson is trying to teach you. So, one more question: Before you decide to call it quits, how many times have you been in this same spot — the same kind of relationship? The same type of guy? The same kind of issues? The same type of break-up?
Because there is absolutely no point in abruptly chalking it up to, “It was all his fault…again,” just so you can find another man to say this about in another six months or a year. If you’ve been here before, take some time out to do some serious self-pondering as to why.
__________
Every action has a reaction; I’m pretty sure that you’ve heard that saying at least once before — and when it comes to ending a relationship, it is most definitely true. If you’re wondering if you should, honestly, that’s already a feeling that is trying to tell you something. However, now that you’ve read all of this, hopefully, you can take some actions that you will feel at peace about…and won’t regret.
Because if you’re gonna end something, it’s a good idea to know why, so you can feel truly at peace about doing it — and yes, I’m speaking from very up close and personal experience here. Get your internal answers. Move wisely from there, sis.
Let’s make things inbox official! Sign up for the xoNecole newsletter for daily love, wellness, career, and exclusive content delivered straight to your inbox.
Featured image by Lyndon Stratford/Getty Images
