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.
Maryland-bred success coach Nathalie Nicole Smith is no stranger to being successful. In 2013, Nathalie Nicole was recognized as one of Forbes' "Top 30 Under 30" for her work in development of her Plush brand and now she is a multi-millionaire at the age of 32. The young mogul is also the author of best-selling book Becoming a Brand and founder of Women Who Boss, a 501c3 organization that helps women walk into their real purpose amidst their pain.
Nathalie is truly educating the next group of Black female leaders through financial and spiritual means and showing no signs of slowing up. With the development of an international podcast, an apparel line, a second book, and a million-dollar coaching program, it's clear that for her, elevating is a habit.
When it comes to her money, Nathalie shared a secret with us that a mentor once bestowed upon her. "I live by my money mantra, 'what to do with a dollar' that my mentor shared with me years ago," she said. She continued to break it down that for her money gets split up in seven ways: 15 percent to self, 20 percent money going up, 10 percent to tithes and offering, 25 percent to taxes, 20-25 percent household expenses, reinvesting 10-15 percent and saving 10 percent.
In this installment of "Money Talks", xoNecole spoke with the beauty and wellness CEO about treating herself to a 2020 Lambourghini, the bigger picture of wealth and success, and her unhealthiest money habits.
On her definitions of wealth and success:
"Wealth means freedom to me. Being able to do what you love without having to think about money. It's not about the actual items you can attain, it's about the stress that is taken off of you when you don't have to worry how something will get paid. Success is being able to achieve your highest level of goals and being able to create massive impact. What good is success if you can't help people? If you can't impact lives? That's the bigger picture."
EPI Media Group/Nathalie Nicole Smith
"Success is being able to achieve your highest level of goals and being able to create massive impact. What good is success if you can't help people? If you can't impact lives? That's the bigger picture."
On the lowest she’s ever felt when it came to her finances and how she overcame it:
"Running my salon and not being able to really function 100 percent due to lack of stable liquid income [is the lowest I've ever felt]. At the time I was a recent college graduate and wanted to be an entrepreneur. I did not want to join the corporate world, so I hustled to make ends meet. I sold hair, did bottle service, etc. to make it work. I joined direct sales to be able to have liquid income to invest back into my businesses. I was actually not a fan of the direct sales industry, but when I met Coach Stormy Wellington and was introduced to Total Life Changes, I just knew this was what I needed. This was the vehicle I was looking for to change my future."
On her biggest splurge to date:
"[My] 2020 Lamborghini. And it was such a crazy experience. In one breath, I was so excited because it was definitely something I wanted, but in the next breath I had a few feelings of, 'It's too much, I don't need it, etc.' But I am extremely thankful for my circle that kept reminding me that I worked hard for it and I deserved it."
On whether she’s a spender or a saver:
"[I'm] a saver but I reward myself when I hit goals. You have to enjoy yourself and treat yourself sometimes. It keeps you hungry and makes you keep pushing yourself and working hard. Remembering the days I didn't have any [money] helped me learn how to save. It was a process though. I had to continue to grow and mature with my spending habits as well. There were definitely those times where if I made $5,000 a month I was spending $5,005!"
On the importance of investing:
"Investing is important. I just recently got into real estate. I also believe in investing in yourself and your team that helps you make money. I'm currently looking into acquiring two more properties by the end of 2020. Real estate is the game at the next level."
On her savings goals and what retirement looks like to her:
"My savings goal is $35 million minimum by 35 years old. Retirement is going to be amazing! Of course everything I have will already be paid off so expenses will be minimal. My family will be secure and I will be able to save the majority of the residual income that would come in from my business."
On her budgeting must-haves:
"Basic necessities - I need a nice environment to live in that allows me to create. My peace is essential to my ability to work and lead my team effectively. I enjoy my freedom and moving around as I desire. My budget must be able to cover those basics."
On her intentions behind multiple streams of revenue:
"My business structure is under a C Corp holding company. I have three main legs of business: direct sales, the Women Who Boss Network nonprofit, and the Plush rx Maryland location and online [division]. I always make sure I am doing income-producing activity to ensure productivity. Every move, every decision must be intentional and influential. Even things that may seem like 'fun' or 'relaxing' still has the underlying purpose of motivating my team. If they see me in a position they want to emulate, guess what? They are going to work hard to get it themselves, generating their own income-producing activity and keeping the ball moving.
"You never want to be in a predicament that you are stuck. You want to focus on one stream until you win big. After you win big, diversify so you can make that money work for you. For example, once I was really able to win in TLC, I was able to put focus back into Plush Rx and Women Who Boss. Now all wheels are generating income and adding to the bottom line."
EPI Media Group/Nathalie Nicole Smith
"I have three main legs of business: direct sales, the Women Who Boss Network nonprofit, and the Plush rx Maryland location and online [division]. I always make sure I am doing income-producing activity to ensure productivity. Every move, every decision must be intentional and influential. Even things that may seem like 'fun' or 'relaxing' still has the underlying purpose of motivating my team. If they see me in a position they want to emulate, guess what? They are going to work hard to get it themselves, generating their own income-producing activity and keeping the ball moving."
On unhealthy money habits and mindsets:
"Savings was a big thing I had to learn. Every dollar is not supposed to be spent. I had to also learn how to pay myself a set percentage to ensure that I was able to enjoy the fruits of my labor. I started to see my savings accumulate. I started to do some of the things I had always desired because money wasn't an issue. I also began to see my team grow and their personal income skyrocket. That is the major key. Helping others win too."
On the craziest thing she’s ever done for money:
"I was in the bottle service industry for 10 years. Clubs, late nights, fast life and faster money. It was a great learning experience and I met some powerful business associates along the way. I made a lot of money, but ultimately it was in a very toxic environment that I needed to break away from."
On the worst money-related decision she’s ever made:
"I opened myself up to a partnership with a friend that wasn't in alignment or equally yoked with my goals. I believe it's a mistake we are all destined to take as we grow and learn how to make better business and financial decisions. You're so excited about your success and you want other people to be successful also. However, everyone is not meant for you to work with."
On her budget breakdown:
How much do you spend on rent? "$3,600."
Eating out/ordering in? "$2,000."
Gas/car note? "$3,000."
Personal expenses? "I am very low maintenance. After I pay my bills, 15-20% goes to me to spend as I please. I treat myself sometimes, but I am very mindful of the amount I have allocated and I govern myself accordingly. It is extremely helpful and I teach my team how to manage their finances in the same manner. It ensures you are able to not only make and save money, but also enjoy some of it too."
For more information on Nathalie Nicole Smith, follow her on Instagram or visit her official website.
Featured image courtesy of Nathalie Nicole Smith
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Anyway, I personally think that the less shallow folks out here may contemplate calling things “quits” or they at least distance themselves a bit from their partner (and what I’m referring to is serious relationships) due to all of the stress and strain that oftentimes comes with the holidays whether it be financial, familial, due to their tight schedules or something else.
Listen, I would hate for you and your man to miss the fun and happiness of experiencing this time of year, all because you are so overwhelmed or irritated that you can’t really enjoy it. That’s why I have a few practical tips for how to avoid allowing the typical holiday season stress from INFECTING your relationship.
Manage Your Expectations
GiphyUnmanaged expectations. If there is a main reason why the holiday season tends to be so stress-filled for so many people, I’d bet good money that this is the cause. And when you’re in a long-term relationship, expectations can manifest themselves in all sorts of cryptic and/or unexpected ways. You might have relatives who assume that you are going to be with them for Thanksgiving or Christmas when you have other plans in mind. You might be thinking that you are going to spend one amount for presents while your man is thinking something totally different. When it comes to scheduling, your signals may be crossed.
And you know what? To all of these scenarios, this is where clear and consistent communication come in. Don’t assume anything. Don’t dictate anything either. From now until New Year’s, mutually decide to check in once a week, just to make sure that you are both on the same page as it relates to the holidays and what you both are thinking will come along with it. The less blindsided you both feel, the less stressed out you will be. Trust me on this.
Set (and Keep) a Budget
GiphyOkay, so I read that last year, 36 percent of Americans incurred some type of holiday-related debt. Hmph. Last year, there was still some sense of normalcy in this country, chile, so I can only imagine what finances are gonna look like over the next several weeks. That said, since I don’t know a lot of people who don’t find being broke stressful, make sure that you and your bae set a budget and then stick to it this year — no ifs, ands or buts.
Because really, y’all — it doesn’t make sense to deplete savings and/or max out credit cards for a few days of giggles only to be damn near losing your mind because you don’t know how to make ends meet come Dr. Martin Luther King, Jr. Day.
And by the way, this tip doesn’t just speak to things like food and gifts; I also mean travel. If it doesn’t make a ton of sense (or cents) to be all over the place this year — DON’T BE.
Keep Matthew 5:37 at the Forefront
GiphyIf off the top of your head, you don’t know what Matthew 5:37 says, no worries, here ya go: “But let your ‘Yes’ be ‘Yes,’ and your ‘No,’ ‘No.’ For whatever is more than these is from the evil one.” That verse right there? Oh, it’s a boundaries lifesaver! I say that because do you see “maybe” or “I’ll think about it” in there? Nope. LOL. It says that you should tell people “yes” or “no” and leave it at that — and that complements Anne Lamott’s quote, “’No’ is a complete sentence” impeccably well. Yeah, you’ve got to remember that anything beyond a yes or no to a request is privileged information; you don’t owe anyone details or an explanation.
Besides, if you are really honest with yourself, when someone asks you something and you give a “Umm, let me think about it” kind of reply, more times than not, you already know what your answer is going to be — so why not let you both off of the hook? Give your response. Commit to that. And let everyone (including yourself) get on with their lives and schedules.
I promise you that when it comes to those holiday parties, you are pissing more folks off by not RSVP’ing or doing so and not showing up than just saying, “Thank you but not this year” off the rip.
Remember That Your Personal Space Is Privilege Not a Right
GiphyA friend of mine recently bought a new house and invited me over to come see it. He’s a single man with no children, so as I was taking in all of the space that he had, especially as I walked through his finished basement, I joked about relatives coming to live with him. “Hell no” and “absolutely not” were pretty much his immediate responses as he went on to say that some folks even had the nerve to be offended when he told them that he had no intentions on taking DNA in.
Ain’t it wild how people think that your stuff is their right? And yes, that brings me to my next point. Your home is your sanctuary space. If you want to host folks this year — cool. If not, ALSO COOL. Please don’t let folks (family included) guilt you into how they want you to act or even into what they would do if the shoe was on the other foot. You are not them — and as one of my favorite quotes states, “If two people were exactly alike, one of them would be unnecessary.” (A man by the name Larry Dixon said that.)
Hell, my friends? They know that I am good for sending them random things that they need or even want all throughout the year. Coming over to hang out at my pace, though. Uh-uh. Chalk it up to being a card-carrying member of the ambivert club yet I like keeping my living space personal — and I sleep like a baby, each and every night, for feeling that way.
Always remember that your space, your time, your resources, your energy and shoot, yourself period (including your relationship), are all things that are your own. You get to choose how, when and why you want to share them. The holiday season is certainly no exception.
Cultivate Some “You Two Only” Traditions
GiphyIt’s not uncommon for some couples to hit me up after the holiday season to “detox.” Sometimes it’s due to the financial drama (and sometimes trauma) that they experienced. Sometimes it’s because they allowed their relatives (especially in-laws) to get more into their personal business than they should’ve. More than anything, though, it tends to be because they didn’t get enough quality time together and so ended up feeling “disconnected.”
Please don’t let that happen. Listen, I’m not even a holidays kind of woman and yet, I will absolutely sit myself down with some hot chocolate and chocolate chip cookies to enjoy a Hallmark holiday film or two. Aside from the fact that most of them are lighthearted and sweet, I also like that they usually focus on couples loving on each other amidst all of the holiday beauty and ambiance — which is something that all couples should set aside some time to do.
Maybe it’s a vacation. Maybe it’s a staycation. Or maybe it’s my personal favorite, A SEXCATION. Whether it’s for a few days, the weekend or even overnight — don’t you let the holidays go by without setting aside time for you and your man to celebrate one another. Don’t you dare (check out “Are You Ready To Have Some Very Merry 'Christmas Sex'?”).
GET. SOME. REST.
GiphyI once read that 8 out of 10 people get stressed out over the holidays and 3 out of 10 lose sleep during to it — and when you’re stress-filled and sleep-deprived, that can absolutely lead to hypersensitivity, making mountains out of molehills and even not being in the mood for sex.
Your relationship can’t afford to go through any of this, so definitely make sure to prioritize rest. I don’t care how unrealistic it might seem during this time, sleep should never be seen as a luxury; it will always and forever be a great necessity.
That said, try to get no less than six hours of shut-eye in (check out “6 Fascinating Ways Sex And Sleep Definitely Go Hand In Hand”) and even ask your bae to take a nap with you sometimes (check out “Wanna Have Some Next-Level Sex? Take A Nap, Sis.”). Not only will sleep help to restore your mind, body and spirit but, when it’s with your partner, it’s an act of intimacy that can make you both feel super connected, even in the midst of what might feel like chaos.
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Holiday season stress is real. Still, never give it the permission or power to throw your relationship off. Put you and your man first and let the holidays be what they are gonna be, chile.
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If, while on your continual journey to get the best out of your own tresses, you’d like to learn how to get them healthier than it’s ever been, I’ve got seven acids that are typically known for skin use that can be just as beneficial to your hair as well.
1. Salicylic Acid
When it comes to your skin, salicylic acid is beta-hydroxy acid that is great for your skin if you’re looking for something that will exfoliate it, clear out your pores and dissolve dead skin cells. In fact, this is why it’s an acid that is quite popular when it comes to treating acne.
Your hair will enjoy salicylic acid because, if you’re looking to remove product build-up, you want to soothe an itchy or irritated scalp or you’ve got some dandruff flakes that are totally driving you up the wall, salicylic acid has the ability to treat all of this. Either purchasing a shampoo that contains this ingredient or adding it to your favorite scalp scrub is probably the most effective way to get the most out of it.
Just make sure that if your scalp is sensitive or dry that you approach with caution. In these instances, it could end up irritating your scalp more than helping it out, so use a very little bit in the beginning to make sure that it vibes with you.
2. Lactic Acid
Lactic acid is an alpha hydroxy acid that can help to even out your skin tone as well as slow down the signs of aging. The properties in it help to do this by reducing hyperpigmentation and boosting collagen production in your skin as well as keeping it hydrated.
Why is it great for your locks? For one thing, lactic acid is considered to be a humectant. This means that it pulls water from the air so that your hair is able to remain moisturized.
Another thing that makes it a winner is the fact that lactic acid breaks down dead skin cells on your scalp (so that your hair follicles are able to flourish), it can help to soften and detangle your hair (making it a helpful addition on your wash days) and it also helps to protect your tresses from heat styling tools and UV damage. Applying a hair rinse that’s made up of part lactic acid and part water can work wonderfully (so long as you apply it once a month, tops; more than that might be too “intense” for your hair strands).
3. Glycolic Acid
Glycolic acid is a water-soluble alpha hydroxy acid that is actually made from sugar. Your skin will adore it because it smooths the appearance of fine lines and wrinkles, improves the texture of your skin, gently exfoliates, clears your pores and brightens up your complexion overall.
The reasons why you should consider this acid for your hair is because it helps to keep your scalp youthful (and yes, there is such a thing; check out “Your Scalp Ages Six Times Faster Than Your Face. Why It Matters.”), removes excess sebum (that could be clogging up your hair follicles) and it helps to keep your hair moisturized. Your best bet here is to make it a part of your pre-shampooing ritual.
4. Succinic Acid
Succinic acid is an acid that is made from sugar cane and contains antimicrobial and anti-inflammatory properties. Although it doesn’t exactly exfoliate (like many of these other acids do), it can still be beneficial to your skin when it comes to reducing the kind of irritation that is associated with eczema, decreasing the bacteria that leads to breakouts and keeping your skin pretty hydrated.
As far as your hair goes, this is an acid that is worth trying out because it helps to balance the sebum that is on your scalp, remove dead skin and product build-up that can irritate your scalp and clog your hair follicles and, succinic acid is also beneficial when it comes to reducing dandruff and helping to prevent hair loss. Most people tend to apply this as a serum.
5. Hyaluronic Acid
I’ve officially sung the praises of hyaluronic acid on this platform before. One example is via the article, “Why Your Skin, Hair, And Nails Need Hyaluronic Acid Like...Yesterday.” On the skin tip, hyaluronic acid is great because it deeply hydrates your skin, contains anti-aging properties and can even bring relief to vaginal (including vulvar) dryness.
Your hair will adore this particular acid because it aids moisture to it (including your hair follicles), will help to improve your hair’s texture and it also soothes scalp dryness, nurtures the cuticles of your tresses and decreases frizz. Using a serum rich in this acid as a pre-poo or as a leave-in conditioner is recommended.
6. Azelaic Acid
If you’ve never heard of azelaic acid before, this is your lucky day. It’s a dicarboxylic acid that, when it comes to skincare (and hair care) products, is usually synthetic. Anyway, if you are looking for a way to reduce inflammation, even skin tone after a breakout or if you want to use an exfoliant that will improve the texture of your skin overtime, you might want to give this acid a shot.
This one makes the list as far as your hair is concerned because, if achieving more inches is your current focus, azelaic acid might come in handy. That’s because it is able to strengthen your hair, thicken your strands and also stimulate hair growth from within your hair follicles.
7. Glutamic Acid
Glutamic acid is actually a type of amino acid. Skin-wise, it’s great for deeply hydrating your skin as well as protecting it from pollutants and damaging UV rays. Also, if you’re looking for an acid that treats skin dryness or “tightness,” this could be the answer to your prayers.
Since glutamic acid is also considered to be a humectant, it’s another acid that can moisturize your hair. As a result, it can decrease breakage while helping your hair to feel smooth and look shiny.
BONUS: Amino Acids
Speaking of amino acids and hair, please try to keep some amino acids in your diet at all times. The reason why is because, since your hair is made up of mostly protein (keratin, to be exact), amino acids are pretty darn effective when it comes to helping you to maintain the overall health and well-being of your hair.
Ones to prioritize include proline (it boosts collagen so that your hair strands can maintain flexibility); arginine (it increases blood flow to your hair follicles so that they can receive the nutrients that they need); cysteine (it helps to keep your hair follicles healthy); alanine (it helps your system to produce more collagen), and isoleucine (it strengthens the tissues that help to make up your hair strands). All of these are available in supplement form or you can use Google to see which foods contain them.
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Although it might initially seem odd to apply acid to your hair, as you can see, certain ones will work miracles for it. So, test them out to see which one tickles your fancy.
Hell, since they work for your skin as well — it’s a two-for-one deal that is worth every penny!
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