<p><em><a href="https://www.xonecole.com/money-talks/" target="_blank">Money Talks </a>is an xoNecole series where we talk candidly to real women about how they spend money, their relationship with money, and how they get it.</em></p><p><em></em>Founder and CEO of <a href="https://www.instagram.com/MILAN360strategies/" target="_blank">Milan360 Strategies</a>, a public relations and event management agency, is more than just a sweet Georgia peach. In fact, 26-year-old <a href="https://www.instagram.com/jasminemilan/" target="_blank">Jasmine Murray</a> is setting the bar for millennial women as a boss woman in the communications industry, all while having a complete handle on her finances. The young publicist-to-watch can also add "author" to her extensive resume thanks to her e-book, <a href="https://www.milan360strategies.com/product-page/finance-much" target="_blank"><em>Finance Much?</em></a>, that teaches readers how to conquer their bad relationship with money and create an electronic strategized money savings plan.</p>
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<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzM5MTg4OS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY1Njk1NzM3M30.dZ9xJqOBHggmRf3Zcba5TftqGgyPuPb2xenajfuRTsw/img.jpg?width=980" id="ed80f" class="rm-shortcode" data-rm-shortcode-id="4f2c7ecd5929110627c17f5a85d71d46" data-rm-shortcode-name="rebelmouse-image" />
<small class="image-media media-photo-credit" placeholder="Add Photo Credit...">Courtesy of Jasmine Murray</small></p>
<p>However, like most of us, UberEats and DoorDash gets a little tempting, but she has to rely on her all-time favorite money mantra to keep her pockets in check - <em>I have food at home</em>. "It sounds so crazy, but I spend so much money eating out," Murray laughs with xoNecole, "Especially during summers."<br/></p><p>In this installment of "Money Talks", xoNecole had the chance to speak to the Cupcakes and Convos creator about squeezing home decor into her budgeting plans, her previous occupation as a bartender, and her ideal retirement.</p>
<p><em>Featured image courtesy of Jasmine Murray</em></p>
On the lowest she’s ever felt financially and how she overcame it:
<p>"Oddly enough, the lowest my finances have ever been is actually when I had the most clients on my roster. I was managing my money completely wrong. So, even though I was clearing close to $10K each month, I was spending the money quicker than my invoices were being cleared, so I was never able to save the way I should have.</p> <p>"I overcame this by just confronting the issue head-on and making some major life adjustments. I became so frugal with my spending, because I really enjoy seeing money in my account and living worry-free."</p>On her biggest splurge to-date:
<p>"My biggest one-time splurge would have to be my Chanel bags, [but] my biggest ongoing splurge would have to be my car. I purchased these items because I felt like I deserved them. I work so hard and I sometimes forget to treat myself every now and then. When I do treat myself, it's sometimes over the top and I think I've finally got it all out my system."</p><img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzM5MTg5NC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY0MTE4MTY1NH0.4cmQBB4pWUgYh917KHHHBLqv-btpJEyqD1irCgNG30Q/img.jpg?width=980" id="ab2e0" class="rm-shortcode" data-rm-shortcode-id="0b013735da26de5f560dc3355c3515ce" data-rm-shortcode-name="rebelmouse-image" />
Courtesy of Jasmine Murray
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On if she considers herself a spender or saver:
<p>"At this point I consider myself to be a saver. There's so many bigger plans that I have for my future self, so I've sacrificed a lot of casual luxuries so that I can better prepare for the life I want to live long-term. I trained myself to save money by having multiple accounts - some I never touch, some are for casual spending, some are only for paying bills. But when I separate my money, it's actually easier for me to see what I have and therefore, know how to spend it."</p><h5>"I trained myself to save money by having multiple accounts - some I never touch, some are for casual spending, some are only for paying bills. But when I separate my money, it's actually easier for me to see what I have and therefore, know how to spend it."</h5>
On how much she saves per month:
<p>"I try to save at least $1,500 a month that I place in an account that I never touch. I then separate the leftover profits into different accounts."</p><div class="ad-tag">
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On savings goals and what her retirement will look like:
<p>"I guess just like everyone else, I am trying to make my way to a million, but my biggest goal is to make sure that I am always comfortable, so whatever that means [in dollars] will always be OK for me as long as me and my family are provided for. For me, retirement looks like a four- to five-bedroom house paid off, no ongoing bills, and enough money in the bank to get me through life, as well as get my kids through college."</p>On business structures and multiple streams of revenue:
<p>"The bulk of my money comes from servicing my clients, but I've also been able to create multiple streams by offering e-books and pop-up classes/events. It's a good feeling knowing that I can always offer something to bring in a couple extra dollars, if need be. Creating multiple streams of income has shown me that I can create something tangible that will provide a profit for me. Because my industry is service-based, it's difficult to offer something tangible, but I found something that works for me."</p><img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzM5MTg5My9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYxNTEyNjYxN30.zR-SucG-YAdlqefSoYA0vn4Jf91zv0hXSzbEEVG52dU/img.jpg?width=980" id="f0a6c" class="rm-shortcode" data-rm-shortcode-id="8220fd4c7d4c9f99c85d35e7ec3567df" data-rm-shortcode-name="rebelmouse-image" />
Courtesy of Jasmine Murray
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On unhealthy money habits and changing her mindset:
<p>"My unhealthy mindset with money was that 'it'll come back so it's not a big deal for me to spend it now'. While this is true - money <em>does </em>come back - I can save so much more if I am not so frivolous with my spending. I also had to get out of the habit of trying to help everyone. I was raised to have a big heart, but a lot of the people I've helped probably wouldn't do the same for me. Nowadays, I'm more inclined to politely say no. My bank account looks WAY healthier. It gives me a lot of comfort knowing that during slow periods, I can still sustain myself."</p><h5>"My unhealthy mindset with money was that 'it'll come back so it's not a big deal for me to spend it now'. While this is true - money <em>does </em>come back - I can save so much more if I am not so frivolous with my spending."</h5>
On desperate times and desperate measures:
<p>"I am able to make an income based on what I love to do, so that's a blessing within itself. Before my income was steady with my business, I [used to] bartend in nightclubs and that afforded me a lot of money and nice things, but it's so easy to get comfortable with easy money. Unfortunately easy money is not 'realistic' in a sense. In the real world, people can't always come by and sustain money that easily, so I didn't want to get so comfortable with my bartending money that I never learned how to make and sustain corporate money."</p><div class="ad-tag">
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On the worst money/business-related decision she’s ever made:
<p>"Investing in clients that were afraid to invest in themselves was the worst decision I made. I put so much money into people that I believed in and I always lost in the long-run because it's hard for that money to come back to you when someone is afraid to make money moves. I also suffered from not investing in myself enough. I, now, create a budget for rebranding regularly, personal photoshoots, and <a href="https://www.xonecole.com/black-women-self-care/" data-linked-post="2548465423" target="_blank">self-care</a>." </p>On the importance of investment:
<p>"I've recently just learned the importance of investing. It's always good to have money coming in that you don't really have to 'work for' [in a sense]. I've been interested in investing in cannabis companies, so lately I've done a lot of research in the market, connected myself with some canna-entrepreneurs, and prepared myself to invest a decent amount in cannabis that will easily pay off for me."</p>On budgeting must-haves:
<p>"Somewhere in my budget has to include home decor. Now that I'm getting older, my treats/splurges go to kitchen appliances and pillows more than anything else. I've also put some money aside for a couple vacations throughout the year."</p><div class="ad-tag">
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On her definition of wealth and success:
<p>"I define wealth as enough money to compensate for my family's needs and wants and live comfortably. I define success as accomplishing the goals I have set on my own terms and defeating my own odds."</p><h4><em>For more of Jasmine, follow her on <a href="https://www.instagram.com/jasminemilan/" target="_blank">Instagram</a>. </em></h4><h4>Need more money talk like this in your life? <a href="https://members.xonecole.com/" target="_blank">Sign up for our exclusive xoTribe today</a> for weekly discussions with our Resident Money Coach, Dr. Nicole Garner Scott. </h4>
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