Meet The Entrepreneur Who Believes Wealth Is In The Mindset Of The Beholder
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.
Samari Ijezie is the creator of The Female Economist, a platform created to challenge and disrupt the stereotypical gender norms within the financial industry while educating millennials of financial literacy. However, before founding this financial literacy company for women and marginalized millennials, she had a career in fashion and style as a model that started in her preteen years. Though she briefly kicked off her modeling career at the age of fourteen, it was short-lived because soon after high school, Ijezie decided to go off to college but later had to drop out during her freshman year due to not receiving financial assistance in the next term.
After reigniting her determination to excel, Ijezie eventually pursued getting her degree once more and later earned her dual degrees in Economic and Political Science from University of Massachusetts Amherst. Though crunching numbers and secretary duties were never easy to her due to her dyslexia, the current New York resident overpowered her disability to become an expert in finance as leverage to escape poverty. After multiple jobs in finance and accounting from a Massachusetts state agency to Spotify and Publicis, the Boston native eventually launched The Female Economist platform where users can learn through articles, courses, webinars and is soon creating a tool that matches individuals with their own certified financial advisor.
In this installment of "Money Talks", xoNecole spoke with Samari about splurging on much-needed vacation time, her alternative definition of wealth and success and having a scarcity mindset.
On how much she makes in a year and how much she saves:
"Each month, I try to save at least $5K. Because my monthly income varies each month from trading and brand gigs, I always ensure that I have at least $5K coming in on a monthly basis. I do have a Roth IRA. I like having this account because I can see the companies I have in my index fund."
On her definitions of wealth and success:
"Wealth has no dollar amount. Wealth is the amount of time that you can sustain with the amount of money that you have. In other words, how many days can you survive without working; living off your savings. I define success by someone accomplishing their goals and dreams."
Courtesy of Samari Ijezie
"Wealth has no dollar amount. Wealth is the amount of time that you can sustain with the amount of money that you have."
On the lowest she’s ever felt when it came to her finances and how she overcame it:
"The lowest I've ever felt with my finances is when I was in college. I personally was not making any money but also was acquiring loans to put myself through school. I was ignorant when It came to understanding money and personal finances. I overcame this by fully taking the time to understand personal finance. I worked on building my credit score. I used websites like Credit Karma to find the best credit cards to set myself up with to help build credit. I consolidated my loans and started paying them off on a monthly basis. After I fully took control over my personal finances, expenses and savings, I then began to invest."
On her biggest splurge to date:
"My biggest splurges are on vacations. I consider splurging money on experiences and memories to be comparable to an asset. Traveling to me helps me become a worldly person, and that is something that contributes to my education and knowledge. So, I do not mind spending thousands of dollars on a vacation where I am learning about the country's culture."
On whether she’s a spender or a saver:
"I consider myself a spender. I do splurge on unnecessary items. I do enjoy shopping and looking fly. However, if I buy expensive products/materials, if I cannot afford to buy it twice, I tell myself that I cannot really afford it. I am a spender because tomorrow is never promised, I could save millions, but If I never spent it, how can I truly enjoy being a millionaire? I train myself to properly manage money by spending money on things that help better my life. I rather spend thousands on opening an investment account that can allow my money to compound rather than spending it on designer, nightlife, or any other guilty pleasures that us millennials face."
Courtesy of Samari Ijezie
"I am a spender because tomorrow is never promised, I could save millions, but If I never spent it, how can I truly enjoy being a millionaire? I train myself to properly manage money by spending money on things that help better my life. I rather spend thousands on opening an investment account that can allow my money to compound rather than spending it on designer, nightlife, or any other guilty pleasures that us millennials face."
On her savings goals and what retirement looks like to her:
"My plan is to retire by 35. I have been working since I was 14 years old. So, retiring in my thirties is very important too. I will be able to fully retire when I have enough money that can allow me to not work. I do enjoy keeping busy, so by the time where I can retire, it won't be fully retiring, but doing things that I enjoy that continue to make me money."
On the importance of investing:
"Investing is very important to me. I invest by figuring out my goals. Some of my investment accounts are short-term investment goals and others are long-term. Depending on the financial product, I have different goals. When I trade options, I have the intent that I will make a short-term investment."
On her budgeting must-haves:
"In my budget, I do allocate money to doing the things I like which include food. I am a big foodie and take pride in eating very well. As everyone knows, to eat healthy is very costly. So I do allocate a monthly spending budget for food. I enjoy seafood which can be very costly, but that is something that I will spend money on because it makes me happy to eat well."
Courtesy of Samari Ijezie
"My mindset completely changed in regards to money. I used to have a scarcity mindset where I would tell myself at times I cant afford this or complain about my financial situation. Once I started reading more books and opening up my horizon when it comes to wealth and abundance, I started making more money. Wealth is truly in the mindset of the beholder."
On her intentions behind multiple streams of revenue:
"I created The Female Economist to have six streams of revenue. The first one is through ad revenue, affiliate marketing, e-courses, brand merch, membership, and consultancy. When I created this business, the business model was only through ad revenue, but as the demand increased for more objectives, the business structure changed to adapt to that. The intention of having multiple streams of revenue was purposely so the business would be able to function with or without me."
On unhealthy money habits and mindsets:
"My mindset completely changed in regards to money. I used to have a scarcity mindset where I would tell myself at times I cant afford this or complain about my financial situation. Once I started reading more books and opening up my horizon when it comes to wealth and abundance, I started making more money. Wealth is truly in the mindset of the beholder. I stopped using words like 'can't', and instead started saying, 'How can I afford this?'
"Growing up in a single-parent home, I had a lot of unhealthy ideologies when it came to money. I grew up in a household where it was us trying to make ends meet regardless so, as I aged, I always just had that scarcity mindset of I need these now because I may never be able to attain it again. As I became financially independent and literate, that changed."
For more of Samari, follow her on Instagram.
Featured image courtesy of Samari Ijeze
Originally published on August 14, 2020
ItGirl 100 Honors Black Women Who Create Culture & Put On For Their Cities
As they say, create the change you want to see in this world, besties. That’s why xoNecole linked up with Hyundai for the inaugural ItGirl 100 List, a celebration of 100 Genzennial women who aren’t afraid to pull up their own seats to the table. Across regions and industries, these women embody the essence of discovering self-value through purpose, honey! They're fierce, they’re ultra-creative, and we know they make their cities proud.
VIEW THE FULL ITGIRL 100 LIST HERE.
Don’t forget to also check out the ItGirl Directory, featuring 50 Black-woman-owned marketing and branding agencies, photographers and videographers, publicists, and more.
THE ITGIRL MEMO
I. An ItGirl puts on for her city and masters her self-worth through purpose.
II. An ItGirl celebrates all the things that make her unique.
III. An ItGirl empowers others to become the best versions of themselves.
IV. An ItGirl leads by example, inspiring others through her actions and integrity.
V. An ItGirl paves the way for authenticity and diversity in all aspects of life.
VI. An ItGirl uses the power of her voice to advocate for positive change in the world.
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.
I Tried Beyoncé's Haircare Line CÉCRED & Here's My Honest Review
Beyoncé is snatching our wallets yet again with her latest business venture CÉCRED. In 2023, the Texas native hinted at a potential haircare line when she posted this photo causing fans to speculate that her next project would be focused on her famous tresses - they were right. Her haircare line Cécred launched on February 20 with her first drop called The Foundation Collection which focuses on haircare first, and I can only assume that a style product line for colored-treated hair will likely follow since Beyoncé is known for slaying various shades of blonde.
As a super fan since the early 2000s, it was only right that I give an honest review of the full line and purchase the Super Fan Bundle (retailed at $265) which includes the full product line of the 8 products, as well as a branded cosmetic bag. If you’re thinking, “Girl that bundle is too pricey for me,” I can assure you that for the value you're getting, the price is quite reasonable. This bundle was an intentional and marketable way to allow consumers to experience every Cécred product.
The brand messaging surrounding Cécred has been salon-inspired, and rightfully so as an ode to Beyoncé’s upbringing growing up in her mother’s hair salon in Houston. This line is backed by science and licensed cosmetologists showing that she’s done her research and appointed the experts. Cécred's IG feed has been filled with images and videos inside of hair salons including some videos of Ms. Tina herself assisting in the styling of beauty experts who visited Cécred's private salon to have the VIP treatment!
Now, have I seen influencers, consumers, and beauty stylists using the Foundation Collection at home? Yes, but I thought it was best to experience Cécred with my go-to cosmetologist who also happens to be my Auntie Tawana. She has been my educator and go-to for hair knowledge since I was a child and has had a hand in my mom's hair health which has always been goals for me. As a little girl, my Saturdays were spent sitting in her hair salon while my mama got her hair done as I patiently waited reading Jet and ESSENCE, ever so carefully eavesdropping on the conversations of the ladies who were coming for much more than just a beauty routine, but an experience.
I’d fall asleep on the plush couch in the waiting area flipping through magazines while listening to the sultry sounds of Maxwell. And I had my first lesson in breakup empowerment when I heard Sunshine Anderson’s “Heard It All Before.” So there was no other place for me to go than to see her, and because I’m her niece, I was able to visit her private salon in her home that she calls The After Hours where upon arrival I was greeted with my favorite Black-owned sparkling Rosé, candles lit, and my aunt’s breakdown of Cécred.
Yasmine Jameelah/xoNecole
But let me refocus and share my salon experience as I tried Cécred for the first time.
If You’re Wondering…Who is Cécred For?
Yasmine Jameelah/xoNecole
When news of Beyoncé potentially launching a beauty brand hit the internet, there were a bunch of predictions of what and who the line would be marketed towards and if she’d have any wig care products as she’s known for slaying her units! But she went in a totally different direction which I love, and I’m going to tell you why. Critics have questioned if Beyoncé should be venturing into the haircare industry because she is often seen in weaves and wigs, but true Beyoncé fans know that she has healthy hair and that, like many Black women, experiments with various styles.
Cécred was created for all hair types and textures, including straight to coily, virgin, color-treated, chemically processed, and heat-styled. As a Black woman who has worn wigs, had chemically processed hair, heat-styled, natural, and color-treated hair, let me tell you, this was no easy feat! The amount of money I’ve spent on my hair through its various changes just on product alone, forget styling has been astronomical.
Cécred is serving the needs of various hair types in textures and I truly believe that this is going to make Beyoncé a true competitor in the hair industry amongst brands that are comparable such as OUAI and Olaplex. Both competitor brands have similar items at a higher price point and unlike Cécred, their products and brand messaging haven’t always felt inclusive to Black women and other hair types.
Cécred has been tested inclusively and the reviews from various hair types and backgrounds of consumers are allowing the brand to stand out.
I Tried Beyoncé's Haircare Line Cécred: My Honest Review
Yasmine Jameelah/xoNecole
Yasmine Jameelah/xoNecole
My hair has never felt cleaner and it shined for well over a week following the styling (but the oil should be used sparingly if like me, oil can weigh down your hair.) Immediately when my hair touched the sink, my aunt told me that she saw all the dirt and oils lifting from my hair when she applied the clarifying shampoo. As a girl who loves my curls, I am often judgy when I use any other shampoo and conditioner aside from Pattern, but not this time.
When my aunt guided my hands across my hair, she showed me how my curls weren’t tangled, and how she didn’t need to comb out my curls before applying the moisturizing deep conditioner or the deconstructing treatment mask.
Yasmine Jameelah/xoNecole
She applied each step with care and walked me through the process, and to my surprise, the hair mask wasn’t thick - but through trial and error as a natural girl, I’ve learned that a thick mask doesn’t always equal what’s best for your hair. She styled me with a silk press that left my hair with shine and I can honestly say that each step of the line is needed especially if you are someone who changes up your hair and deals with breakage. If your hair is healthy, you can opt out of the reconstructing treatment mask but I recommend taking the product line to your salon, having a discussion with your stylist on where your hair health needs improvement, and then purchasing based on that.
We know ourselves better than anyone else, but your stylist knows your hair better than you do. I like to lead with their knowledge first and then incorporate what my hair goals are. If you’re a girly who’s committed to hair health and has either the discipline to incorporate each step at home or can bring your products to the salon, Cécred is for you no matter if you’re a silk press or a wash-and-go naturalist.
Give Cécred a try, I’ll be using the line for my hair appointments until it runs out and if I see long-term results, it will be added to the beauty regimen indefinitely.
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 courtesy of CÉCRED