This Brand Strategist Left The C-Suite To Take The Reins Of Her Financial Destiny
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.
Self-proclaimed "Olivia Pope of Branding" Timeesha Duncan is no stranger to saving her finances. With a savings plan incorporating putting away 20% of what she earns per month into her savings, which she invests into a high-yield savings account, this personal brand strategist and experiential consultant is successfully developing generational wealth. Today, Timeesha is recognized as an international best-selling author, serial entrepreneur, brand marketing expert and educator who helps transform their ideas into income, monetize their genius, build strong sense of communities and social impact through leadership.
The Atlanta, Georgia resident by way of Bronx, New York has a strong belief that people should quit codependency when it comes to relying on others to fill financial gaps and not relying too much on the social security boat to pull into the dock. By building a lucrative Instagram brand and parlaying that into public speaking, writing and coaching, Timeesha left the C-Suite of Coca-Cola after her nine-year tenure to rake in the profits for herself and her family - ultimately taking control of her income and her finances by the reins. She is currently a podcast host alongside her husband on Fix My Brand and co-founder of national workshops The Mogul Builder and The Bombshell Experience.
In this installment of "Money Talks", xoNecole spoke with Timeesha Duncan on letting go of unhealthy money mindsets, wealth being more than having physical capital and splurging on a coach to elevate her business.
Courtesy of Timeesha Duncan
On her definitions of wealth and success:
"Wealth to me is not just having physical capital, but having worth, assets, and possessions that accumulate value over time. Success is being able to accomplish things that make you happy. It's not about reaching a certain level of income or status. If you are happy at what you've accomplished, you're successful."
On the lowest she’s ever felt when it came to her finances and how she overcame it:
"Three weeks after I left my corporate job, I made $12,000 from an online course I created. It felt awesome. However, my next course flopped. I had put in all this work and not a single person bought the course. Right around the same time, my mortgage was due and I had -$67 in the bank. I didn't have another product to sell, no income and no hope. I would literally just stare at my computer hoping some bright idea would fall from the sky to help get me back on track but it didn't. I would look at others in my industry, who appeared to be killing it, and yet I was sitting on the sidelines. I went into a deep depression. I was stuck and couldn't get out of it. My ability to create was gone. I started to regret the decision I made to quit my job. I lost my motivation and had to file for unemployment to help me get back on my feet.
"My mind wanted to give up, but my heart kept tugging at me to keep going. My family pushed me to rediscover my talents, stop feeling sorry for myself, and get to work. I started revisiting comments, and emails from previous clients on how I helped shape their business and changed their lives. This helped to recharge me. So I decided to give it another shot. The next course I created made over $25K which was double what I made the last time. That was the reassurance I needed to keep going."
On her biggest splurge to date:
"I spent over $60K on a coach to help me grow my business. I was excited about working with this particular coach because I felt she could take my brand to superstar status."
Courtesy of Timeesha Duncan
"I made $12,000 from an online course I created. It felt awesome. However, my next course flopped. I had put in all this work and not a single person bought the course. Right around the same time, my mortgage was due and I had -$67 in the bank. I didn't have another product to sell, no income and no hope. I would literally just stare at my computer hoping some bright idea would fall from the sky to help get me back on track but it didn't. I would look at others in my industry, who appeared to be killing it, and yet I was sitting on the sidelines. I went into a deep depression. I was stuck and couldn't get out of it."
On whether she’s a spender or a saver:
"I'm definitely a spender. I have always had a hard time saving money. If I see something I want, I buy it. I learned over the years that I had a bad relationship with money and I needed to reverse it or I would be broke forever (laughs). I love money and numbers but not accounting."
On her savings goals and what retirement looks like to her:
"I want to be able to save at least $15K-$30K each month. Retirement looks like me having seven-figures in the bank, several investment properties, and a house on a beach."
On the importance of investing:
"Investing is very important to me because I don't want my children to ever need or want for anything if something happens to me. I've had investment properties in the past and currently looking for more to acquire, and recently started investing in stocks and trading."
On her budget-friendly must-haves:
"I'm actually a budgetnista. I enjoy finding great things on a budget. I shop at thrift stores a lot to find low-cost, one-of-a-kind items. My press-on nails are my biggest budget must-have. I can't live without them. I have been wearing press-on nails for over a year now which has saved me about $720/year on getting my nails done twice a month. I used to also spend about $300/month on my lashes. I found the perfect lash strips from Walmart that cost me $4.88 and those are also a must-have. I check Amazon first before I buy anything, which also helps to save on items."
Courtesy of Timeesha Duncan
"My intention behind having multiple ways to make money came from me not wanting to run out of it. As a business owner, I realize that every business has seasons. When I started my business I only had one offer, and when that 'season' was slow, I wasn't making any money. So I needed to create different ways for others to work with me. I also wanted to meet my clients where they were."
On her intentions behind multiple streams of income:
"I provide 1-1 coaching, which is a more personal experience for my VIP clients and corporations, I also have online courses, books, a membership program, speaking engagements, and brand sponsorships. My intention behind having multiple ways to make money came from me not wanting to run out of it. As a business owner, I realize that every business has seasons. When I started my business I only had one offer, and when that 'season' was slow, I wasn't making any money. So I needed to create different ways for others to work with me. I also wanted to meet my clients where they were. Some are not ready for the 1-1 experience just yet and want other ways to experience working with me."
On unhealthy money habits and mindsets:
"I always looked at money as 'the root of all evil', or that money was limited because 'money doesn't grow on trees'. And therefore, subconsciously I felt bad when I made a lot of money. Maybe that's why I could never keep it. I eventually realized that those are not true and were just sayings that were fed to me by my parents because that's what was told to them. Changing my view of money and inviting it into my atmosphere, instead of pushing it away has truly helped me to prosper. I started making more money and it would come from places I wouldn't even expect. When I'm closed off, the money faucet closes too."
On her money mantra:
"You only live once. Buy the shoes."
On the craziest thing she’s ever done for money:
"I was hosting a conference and didn't have enough money to pay for all the expenses so I took out a title loan on my car. I regretted that because the interest rate was super high, and I never paid the loan off. It took me years to get my title back."
On the worst money-related decision she’s ever made:
"Investing $60K in a coach. I wouldn't say it was the worst decision I made, but I honestly wasn't ready for that type of coach. I invested the money because I thought this person was going to give me a 'magic pill' to success. It took a while before I realized there is no such thing as a magic pill. I would have invested that money so differently, if I had hindsight 20/20 back then."
Courtesy of Timeesha Duncan
"Changing my view of money and inviting it into my atmosphere, instead of pushing it away has truly helped me to prosper. I started making more money and it would come from places I wouldn't even expect. When I'm closed off, the money faucet closes too."
On her budget breakdown:
How much do you spend on eating out/ordering in?
"I love to cook, but staying in the house for six months has me tired of looking at (and cleaning) my stove. We've been ordering out a lot lately. So feeding a family of four a couple of times a week is about $125."
Gas/car note?
"Excited that I will be paying off my S550 this month, so goodbye car note! Corona has helped a lot with keeping gas expenses down, but it's about $60 to fill up with premium gas, so I would say about $120 -$150 a month."
Personal expenses?
"Massage Membership, $100/month. Pedicure every two weeks, $50/month. Eyebrows maintenance every two weeks, $20/month. Haircuts and products, $75/month. Drinks with the girls twice a month, $100. If Amazon or Sephora bullies me into buying something I don't need, $100/month."
For more of Timeesha, follow her on Instagram.
Featured image courtesy of Timeesha Duncan
Originally published in September 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.
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A Therapist Breaks Down The Internet's Fixation On The Black Cat-Golden Retriever Dynamic
In the realm of love and relationships, there's a growing interest in the idea of opposites attracting. This concept is gaining traction on platforms like TikTok, where users explore how different personality types interact in romantic partnerships. One popular comparison is between the "golden retriever" and "black cat" archetypes.
According to Urban Dictionary, the golden retriever, typically portrayed by men, embodies a relaxed and friendly demeanor, making relationship maintenance seem effortless. These individuals are described as easygoing, patient, loyal, socially adept, and optimistic. On TikTok, many women are intrigued by the prospect of finding partners with these qualities.
In contrast, the black cat, often represented by women, leans towards introversion and independence. They're mysterious, quiet, and introspective, preferring to be pursued rather than doing "the chasing" in relationships.
@annakrstna Replying to @BeckyAmi part II coming soon❤️ #femmefatale #blackcat #blackcatenergy #dating #marriage #datingadvice #princesstreatment #feminine #feminineenergy #relationship #sprinklesprinkle #celebrity #femininenergy #love
This dichotomy reflects the anxious-avoidant attachment dynamics in psychology (pursuer-distancer cycle), where one partner seeks closeness (golden retriever) while the other values autonomy (black cat).
The Black Cat Golden Retriever Archetypes & Attachment Styles
Attachment theory suggests that early caregiving experiences shape our attachment styles, influencing how we relate to others. Anxious individuals seek reassurance, while avoidant individuals prioritize independence. However, not every instance of the black cat/golden retriever dynamic indicates underlying insecurities. Individuals can embody these personas without necessarily being insecure or exhibiting unhealthy attachment patterns.
For instance, a golden retriever's desire for closeness may come from a secure attachment style, rooted in self-worth and trust in others. Conversely, a black cat's preference for autonomy doesn't always indicate avoidance; they may simply value their independence, and it's relatively easy for them to connect and disconnect when needed. Understanding these dynamics requires personalized individual/couples assessment, ideally with a licensed therapist.
The Black Cat Golden Retriever Roles in Relationship Success
A prevailing notion in this discussion that's sparked a lot of conversation is the idea that when a woman takes on the role of the golden retriever in a relationship with a black cat partner, the dynamic is more likely to fail. (I've experienced this firsthand, even in my own past relationships, and I've seen it play out in my own life.) Conversely, when the roles are reversed, the relationship tends to thrive. But why does this happen?
Historically, men have been socialized to take on the role of the pursuer, while women are expected to be more passive recipients of romantic advances. From a biological standpoint, some researchers argue that evolutionary instincts may play a role in shaping mating behaviors. Evolutionary psychology suggests that men may be inclined to pursue potential mates to maximize their reproductive success. This perspective suggests that men may have evolved to seek out partners and compete for their attention and affection.
@annakrstna Replying to @Tina Kaur #love #dreamgirl #beauty #relationship #dating #datingadvice #femmefatale #feminineenergy #desire #obsession #darkpsychology #sprinklesprinkle #femininity #psychology #selflove
Additionally, societal expectations and cultural norms can heavily influence gender roles and relationship dynamics. From a young age, boys may be socialized to take initiative, assert themselves, and pursue their romantic interests actively. On the other hand, girls may be encouraged to adopt more passive roles, waiting for suitors to express interest or make romantic gestures.
As much as there's a lot of conversation about gendered expectations and societal norms, it's crucial to recognize that these expectations aren't universally applicable. Not all individuals adhere to traditional gender norms, and people express a wide array of behaviors and preferences in romantic relationships. Research indicates that attitudes towards pursuit and courtship have evolved over time and differ across cultures.
In today's society, there's a growing recognition of the significance of mutual consent, communication, and reciprocity in romantic relationships. Many individuals, irrespective of gender, prioritize egalitarian principles and seek partnerships founded on mutual respect, understanding, and collaborative decision-making.
The Black Cat & The Problem With 'Acting' Secure in Dating
Delving deeper, there's a growing conversation surrounding the distinction between acting secure and authentically embodying security in relationships. True security stems from a deep-rooted sense of self-assurance and a healthy understanding of one's needs and boundaries. Secure individuals don't feel compelled to mask their vulnerabilities or play games to attract a partner; they attract healthy relationships by being genuine and self-assured.
Contrastingly, attempting to mimic secure behavior without addressing underlying insecurities can lead to relational pitfalls. Pretending to be nonchalant or aloof may initially attract a partner, but it ultimately creates a façade that crumbles under the weight of emotional triggers and unresolved attachment wounds.
Authenticity and vulnerability form the bedrock of secure relationships, fostering trust and mutual understanding.
Most importantly, whether you identify as a black cat or a golden retriever in relationships, it's best to find someone who genuinely loves you for who you are. Connect with people who appreciate you instead of engaging in games or "acting secure," because even secure individuals have vulnerabilities and weaknesses. People need to see the real you to truly connect with you.
Transitioning from acting secure to being secure requires introspection and self-awareness. Here are some tangible tips to cultivate genuine security in relationships:
1. Reframe Your Beliefs About Love and Relationships:
Challenge any negative beliefs or misconceptions you may hold about love and relationships. Recognize that healthy relationships are built on mutual respect, trust, and compatibility, rather than scarcity or desperation.
Cultivate a mindset of abundance, believing that there are plenty of opportunities for meaningful connections and fulfilling partnerships; you just have to be the person you want to attract and refrain from entertaining anything less.
2. Develop Self-Confidence:
Invest in building your self-confidence and self-worth independent of external validation or romantic relationships. Foster a sense of independence and autonomy in your life. Develop interests, goals, and aspirations that are separate from your romantic relationships, and invest in your personal growth and development. Engage in activities and hobbies that bring you joy and fulfillment, and don’t abandon those hobbies just because you met someone new or you’re in a new relationship.
3. Set Realistic Expectations:
Avoid placing unrealistic expectations on yourself or your partner in relationships. Recognize that no relationship is perfect, and both partners will inevitably experience challenges and setbacks. Instead of striving for perfection, focus on building a strong foundation of mutual respect, understanding, and communication. Embrace the ups and downs of relationships as opportunities for growth and learning.
4. Emotional Regulation:
Develop healthy coping mechanisms for managing emotions and navigating conflict constructively. Prioritize self-care and cultivate resilience in the face of challenges.
5. Practice Patience and Acceptance:
Understand that finding a compatible partner and building a fulfilling relationship takes time and patience. Avoid rushing into relationships out of desperation or fear of being alone. Trust in the process and have faith that the right person will come into your life at the right time. Practice acceptance of yourself and others, recognizing that everyone has their own journey and timeline when it comes to love and relationships.
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Featured image by Amber N Ford/Getty Images