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
RELATED
One new fun fact we learned was that Nicole was married and Boris was also in a relationship. That didn’t bother Boris though because when you know, you know.
“It started getting tricky when the second year, second season [of Soul Food], I think, when the whole entire crew was over us. The whole crew was like, ‘Y’all mfs, you better get that together because we know. Are you guys blind?’”
He went on to say, “Then one day I walked in a trailer and I said to her, ‘By the way, we are gonna be married with two kids one day.’ And I just walked out. That didn’t go over very well. She was mad. She was mad for three weeks. But think about it—why was she mad though? Why was she mad? Because she was right. If it was just a joke to her, she would’ve just laughed and moved on.”
They decided to take a break from each other over the summer after Soul Food wrapped. But the universe had other plans, just two weeks later, they found themselves working together again on the set of Brown Sugar in New York.
Together, they’ve navigated parenthood, launched business ventures, and become advocates for health and wellness, all while keeping their connection strong. Their journey is a beautiful reminder that true love thrives on teamwork, trust, and a shared vision for the future.
The 'Soul Food' cast members in 2000: Darrin Henson, Rockmond Dunbar, (back row) Boris Kodjoe, Nicole Ari Parker, Vanessa Williams, (middle row) Malinda Williams and Aaron Meeks (foreground)
Ken Hively/Los Angeles Times via Getty Images
2000:
First Meeting: Nicole Ari Parker and Boris Kodjoe met on the set of the Showtime series Soul Food, where they played on-screen love interests. Their chemistry both on- and off-screen sparked a real-life romance. During his interview with Jemele Hill, he said, “When I first got there, I was the newbie. It was my first job. Super excited, super nervous. And she was unbelievable—actress on stage, movies, TV, everything. But she really embraced me. She was super nice to me. I remember that—super heartwarming and nice.”
He continued, “She really helped me a lot—breaking down the scripts, explaining to me what was going on. I had a million questions. When I read the script, half the stuff I didn’t understand, right? Because there were colloquialisms, there were references to old TV shows that I’d never seen in my life. So I would always come to her and ask her about certain things that I was supposed to say, and I didn’t know what it meant.”
2005:
Engagement: Boris proposed to Nicole, marking a significant step in their relationship.
Marriage: The couple tied the knot on May 21, 2005, in an intimate ceremony in Gundelfingen, Germany, Boris's homeland. Kodjoe and Parker exchanged vows in his hometown of Gundelfingen, Germany, in 2005 at a 900-year-old venue. They told People, “We walked from the church to his Oma's house, and it was literally like we were Hansel and Gretel. I thought I was in a storybook.” The newlyweds arrived at the church in a horse and carriage donning traditional German garb.
First Child: The couple welcomed their first child, Sophie Tei-Naaki Lee Kodjoe, who was born with spina bifida. Her condition inspired their advocacy for health awareness.
2006:
Advocacy Work: Boris and Nicole became active in raising awareness about spina bifida and supporting families with children who have special needs. “We have gone through so many different emotional levels with Sophie,” Boris told PEOPLE. “We had the fear of her dying to paralysis. All kinds of different monsters attacked us.” The couple's personal journey led them to establish the Sophie's Voice Foundation.
The organization's mission is to increase awareness about spina bifida and generate financial support for a groundbreaking new surgical procedure trial.
2007:
Second Child: Their son, Nicolas Neruda Kodjoe, was born, completing their family. In 2015, Boris celebrated his baby boy on Instagram saying, “You brighten up the sky for us every single day. When God sought me out to be your dad he blessed me with so much love and light. I'm honored and excited to be in your presence and to witness the evolution of Nico.”
2010s:
Power Couple Status: Nicole and Boris became known as a Hollywood power couple, balancing their thriving careers with family life and public appearances. They often shared insights into their marriage and parenting on social media and in interviews. The Real House Husbands of Hollywood alum shared this advice, “[Treat] your wife like she's still your girlfriend. You have to water the plant every day, not just once a week. [Give her] surprises, little gifts, notes, texts, flowers. Just little things, but do them consistently."
Nicole Ari Parker and Boris Kodjoe in 2010.
Jean Baptiste Lacroix/WireImage
2015:
10th Wedding Anniversary: The couple celebrated a decade of marriage, frequently sharing their gratitude for each other in public forums.
To celebrate, Nicole shared a love letter in German (that we have translated in English) to her forever love:
You are EVERYTHING
Corinthians said it would be.
Patient
Kind
Free of envy
Does not boast
Humble
Not easily angered
Keeping no record of wrongs.
You protect, trust and persevere.
You are EVERYTHING your fans think you are.
Ridiculously fine.
With clothes.
Without.
Takes care of his kids.
Good to his wife.
Respects his Mama.
Handles his business.
You are EVERYTHNG I ever hoped for
Strong.
Deep.
Kind.
Connected to his Spirit.
Funny.
Smells good. (heyy)
Travel companion
Focused on what matters.
Provider.
Good father.
King.
Together we have filled a decade with
Laughter and adventure,
Tears and trials,
Kids and chaos,
Deep connections and communication breakdowns,
Fried Chicken and schnitzel…
Holding each other up and having each other’s back all along the way.
I am so blessed to call you my husband for these past 10 years
and I am so ready for 10 more.
Truly, Madly, Deeply, Your Nicole.
2018:
Fitness Venture: Nicole and Boris launched KOFIT, a wellness app focused on fitness and healthy living, showcasing their shared passion for holistic health. Nicole and Boris Kodjoe's fitness app aims to help families prioritize health and wellness without sacrificing precious time. The app offers quick and easy exercises and meditations that can be completed in as little as five minutes per day, making it accessible for busy families.
The app features instructional videos led by the fit couple themselves, along with contributions from Boris' brother Pat, a certified personal trainer, and his wife, a seasoned yoga practitioner. The Kodjoe-Parker children also make appearances in the app, adding a fun and engaging element for families to enjoy together.
2019:
In a 2019 interview with PEOPLE, Nicole Ari Parker and Boris Kodjoe expressed their admiration for each other. “He's exactly who his persona is, kind, loves being a husband and father. An incredible human being who thinks of others. He's just authentically good.” Boris added, "She's drop-dead, smashingly gorgeous and sexy. She's intelligent. She's confident. The fact that she's so comfortable with who she is, that to me is everything."
Nicole Ari Parker, Boris Kodjoe, and family in 2019.
Rachel Murray/Getty Images for City Year Los Angeles
2020:
Lockdown Life: During the COVID-19 pandemic, the couple’s humorous social media posts about their relationship resonated with fans. Nicole jokingly complained about Boris not flirting with her, sparking a viral discussion about romance in long-term marriages.
2022:
Marriage Wisdom: They shared their secrets with Ebonyto keeping the spark alive in their relationship after nearly two decades, emphasizing communication, mutual respect, and adaptability. The couple attributes “kissing for no reason, surprise daycations, and spiritual check-ins” as tried-and-true tips for keeping the fire alive in your relationship throughout all of the chaos.
2023:
In February 2023, the couple revitalized Gymwrap, Parker's athleisure brand. Originally conceived by the actress years prior as a solution for workout headbands, the brand has since expanded under Parker and Kodjoe's leadership to include a wider range of accessories, jackets, tops, and leggings.
"I admire her and her brain for how creative she is and the ideas that she comes up with. I'm in awe when I just watch her navigate these kinds of environments," Boris shared with PEOPLE. The family collaborated to relaunch the brand, with Sophie contributing her production and photography skills.
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Featured image by Kevin Tachman/amfAR/Getty Images for amfAR