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
When we talk via Zoom in late August, Lindsay, 38, has just returned from a lunch date with a friend, the type of midday social outing she’d never had time for previously. In a week, she’ll be heading to Europe for an Eat, Pray, Love trip. It’s the first time she’s had time to go to Europe in five years.
“You ask me what I have time to do? Take care of me,” she says, beaming.
In the past six years, Lindsay has made a lot of changes. After becoming the first Black woman to lead ABC’s Bachelorette dating series in 2017, she fell in love with Bryan Abasolo, the man she chose on the show, and married him. Enamored with the world of entertainment but also accustomed to the stability that being an attorney provided her, she returned to practicing law in her native Dallas, Texas, while pursuing media opportunities on the side.
For a time, Lindsay would fly herself to Connecticut to co-host ESPN’s Football Frenzy radio show. The role was perfect for the Dallas Cowboys fan and sports fanatic who majored in sports management and once dreamed of becoming an agent. In 2019, when she finally felt she’d saved enough money and made enough connections, she made the leap and left the legal profession behind, determined to bet on her entertainment dreams.
Working as an on-air correspondent for Extra was one of Lindsay’s first big roles as a full-time media personality. In this job, she interviewed celebrities such as Halle Bailey and Anthony Anderson. She also notably conducted the controversial interview with Bachelor host Chris Harrison that subsequently led to his departure from the franchise. After Harrison told Lindsay he felt people needed to have “grace” for a contestant who had attended an “Old South” party, Lindsay publicly announced her plans to distance herself from the series.
Today, she cites changes in Extra’s leadership and her responsibilities as the reason for her recent departure after three years. “I just didn’t fit within the new regime,” she reveals to xoNecole.
Lindsay is currently focusing her energy work-wise on her two podcasts with The Ringer Podcast Network, the Higher Learningshow with Van Lathan, and Morally Corrupt. Despite the extremely different subjects – Higher Learning touches on race and politics while Morally Corrupt finds Lindsay commenting on her favorite Bravo reality shows – she gushes when speaking about both, calling podcasting “the most liberating thing you can do.”
On Higher Learning, she’s challenged by her co-host, Lathan, to think in new ways. She’s regularly in conversation with prominent figures such as Tracee Ellis Ross and Billy Porter.
Lindsay, a “Bravoholic” whose favorite Real Housewives franchise is Potomac and whose favorite Housewife is Nene Leakes, is no less passionate about Morally Corrupt, even if the subject matter is much lighter. “I’ve always loved reality TV because it was such an escape from my real world. Part of me admired people who could put themselves out there in a way that I believed I never could, until I went on reality TV,” Lindsay says.
Courtesy of Rachel Lindsay
The podcast host says she never intended to find love when she went on The Bachelor, and she was surprised when she was asked to lead season 13 of The Bachelorette. Going from viewer to reality TV star quickly opened her eyes to the demands of being a public figure. After receiving initial criticism from viewers about choosing and marrying Bryan Abasolo, she realized she wanted to become more protective of certain aspects of her personal life.
“I quickly learned that we had to protect what we had, and stop trying to prove it to other people and convince people to know what we knew to be true,” she says. “I wish I could share more of my relationship. But the moment you do that, you have to continue to provide more and you have to continue to answer.”
In many ways, Lindsay benefited from being on a show like The Bachelorette, where the contestants are confined to a limited environment over a temporary amount of time. She says she doesn’t think she could ever be on a reality show where she’s expected to reveal all aspects of her life constantly. In fact, she says if she ever had pregnancy news or updates about her relationship with Abasolo, she wouldn’t make a big public announcement.
Since walking away from The Bachelor franchise, the former Bachelor Happy Hour host says she’s been approached to participate in recent seasons, specifically this year’s season with Black lead, Charity Lawson. Lindsay says she ultimately declined to participate. “I just started thinking I can have a relationship with Charity – whose number I do have and I have talked to – outside of the show. I don’t need to come on television to put that out there for other people,” she says.
Reflecting on her life today, Lindsay is trying to learn the benefits of being still. She’s not planning to do any on-air correspondent booked for the time being, and she’s not planning to release another book, the followup to the collection of essays Miss Me with That or the fictional Real Love.
As her 40th birthday approaches in a couple of years, she’s been thinking a lot about the popular quote, “You are, right now, as young as you'll ever be again” from the FX drama Fleishman Is in Trouble. If she does start on a new creative project, it might delve into this notion, she says. “I think I could do something in that space about adulthood and getting older and maybe questioning things in life because I think we all do it,” she tells xoNecole.
Lindsay is not rushing the process, though. For now, she’s remembering to rest and renew.
“We'll see what comes out of this state that I'm in.”
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Featured image courtesy of Rachel Lindsay
