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.
Born Sara Hood in a Sudan refugee camp after her parents escaped a civil war, this Seattle-bred influencer does not show any signs that she has been through any of the hardships she has ever endured. As a mother of two— including a first-born diagnosed with autism— Sara Lovestyle uses the many hats she wears as a mother, wife, advocate, and entrepreneur to demonstrate the true definition of living a "lovestyle", a pseudonym that was born out of her desire to live a life of happiness, wholeness and health.
In this installment of "Money Talks", xoNecole spoke with the 33-year-old social media coach and lifestyle influencer about the importance of investing, generational wealth being the greatest form of wealth, and her worst money mistake of not trusting her gut instinct.
On how much she saves and if it’s in a high-yield savings account:
"When it comes to being an influencer, it took me two years before I started making money and four years before it was significant. I've also discovered it's not so much about what you make (revenue) but what you keep (profit), so I do projections for my business revenue and personal income for a year, along with the budget. I also prioritize what needs to be done to retain a certain level of profit margin, normally at 30 percent, and I believe in saving/investing 20 percent."
On her definitions of wealth and success:
"The greatest form of wealth is generational wealth in the form of financial prosperity you can pass down from one generation to the next. Wealth at its core is also the financial freedom to do what you want to do when you want to do it—creating a prosperity engine where my kids are able to do the same, too…in perpetuity, as T.I. would say (laughs). Success to me is more than just financial freedom. It's the impact I can create and the legacy I can leave.
"Success is evolving to a level of impact where you can empower others. It's being able to start a VC fund for black, brown, and female entrepreneurs because we are so underrepresented and underfunded. Success is all about the tables I can build and fill for others. Whose lives did I touch with my success? Who did I encourage, uplift, impact with my success? Success for oneself leads to a lonely life, and I want so much more than that. Success is not a self-centered pathway to acquiring more clout and material possessions. It's empowering more leaders of excellence and creating the bold audacious change the world needs."
Courtesy of Sara Lovestyle
"Success is all about the tables I can build and fill for others. Success for oneself leads to a lonely life, and I want so much more than that. Success is not a self-centered pathway to acquiring more clout and material possessions. It's empowering more leaders of excellence and creating the bold audacious change the world needs."
On the lowest she’s ever felt when it came to her finances, and how she overcame it:
"In college, I was working at the gas station and at the mall making below minimum wage. I was literally working 16 hours every day while taking a full load of college credit hours. It was rough because I was in sheer survival mode, working whatever hours were necessary to pay rent and stay in school. The interesting thing about the low points when dealing with finances is that they made me scrappy and stronger. It's where my hustle and drive come from. I hustle the same at my lowest and at my highest because to level up from any spot always requires everything you got."
On her biggest splurge to date:
"My biggest splurge is my house. It's where I spend the most time. It's where I raise my children. But the biggest splurge inside my house is the chandelier in my office (laughs). I budgeted for everything, but my chandelier I had to have…because it was a symbol that made me feel like a boss. I love looking up at it because it reminds me to grind and continue to level up…every single day. Success is leased not owned, and rent is due every day."
Courtesy of Sara Lovestyle
On whether she’s a spender or a saver:
"I am a little bit of both. Majority of my splurges are for my business, and I don't consider them splurges; they are investments into my business. If I want to splurge on a purse or shoe I will, but it's planned and calculated if I earned it. If it's a reward, I will. Also, the rule I have is similar to what Jay-Z said. If I can't afford something three times, I don't buy it. If I can buy it once, I consider it a negative, if I can afford it twice, I break even, and if I can afford it three times, then I'm still in the positive.
"Another thing that I do is I plan my finances, my goals, and budgets for my entire year. I break it down to the month, and I have a specific budget each month. I'm blessed as well because my parents made sure to teach me financial literacy starting really young."
"The rule I have is similar to what Jay-Z said. If I can't afford something three times, I don't buy it. If I can buy it once, I consider it a negative, if I can afford it twice, I break even, and if I can afford it three times, then I'm still in the positive."
On the importance of investing:
"It's interesting I went from having never invested to several in a matter of months. Investing has expanded my mind to many experiences and knowledge I would've never gotten in different sectors of business. I invest in financial investments (stocks), and normally put 10 percent of my income toward it. In addition, I make business investments as an angel investor, which I'm most proud of. I invested into Moon UltraLight, an innovative new touch-controlled mobile lighting device designed to clip onto any smartphone or tablet. Its founder is a genius black entrepreneur named Ed Madongorere.
"The number one tip I would give before investing in a business is, you're investing in the person not the business. There could be an exceptional business idea, but if the founder doesn't have a plan of execution or isn't focused, then it won't matter. A recommendation I would also give is to truly study the industry that you're passionate about. Binge on as much information as you can, and then connect with others in the same industry."
On her savings goals and what retirement looks like to her:
"My savings goal is to have three years of emergency savings in reserves. I am intentionally building cash flow systems so that I can be in position to retire in seven years by 40. At that point, my goal is to have built enough cash reserves and investments where I could live off the interest if I wanted to for the rest of my life. At this stage, I imagine [in my] retirement [that I am] still being impactful, so it would be filled with philanthropy, travel, and my family."
Courtesy of Sara Lovestyle
"My savings goal is to have three years of emergency savings in reserves. I am intentionally building cash flow systems so that I can be in position to retire in seven years by 40. At that point my goal is to have built enough cash reserves and investments where I could live off the interest if I wanted to for the rest of my life."
On her budgeting must-haves:
"Before you even make a substantial amount of money, you should always have a budget. It's the foundation to managing your finances. The basics of a budget is you must understand. To the penny. What's coming in or out. What is a necessity (i.e. rent/mortgage) and what's a want? Something I've noticed with even some of my own friends is [people] not paying attention to any subscriptions they have. Sure an app might only be $1.99 or something is $29.99, and something else is only $49.99, but all of that adds up. You have to stay on top of it all with a budget. The same discipline it takes to manage $1,000 is the same it takes to manage $1 million."
On her intentions behind multiple streams of revenue:
"When I created my lifestyle influencer platform, I was initially a make-up stylist and beauty influencer, and make-up styling services became a primary income stream. As I began to pivot and expand, I created income streams for even more influencer passions I have coined a 'Lovestyle' which includes fitness, cooking, and social media influencer coaching. The streams of revenue created for these areas of influence include sponsored social media posts and affiliate marketing, cookbooks, cooking classes, fine dining pop-up events, Belay & Bell Spices — and influencer coaching with my new business partnership with AgencyLuxCo and business partner Taylor Winbush.
"Having only one source as an influencer and entrepreneur isn't smart for me. Social media is a billion-dollar industry. To not have several streams would be doing myself and my audience a disservice, especially because all of my services are tangible, measurable, and scalable resources for others and their businesses."
On unhealthy money habits and mindsets:
"I would say an unhealthy habit is operating with a scarcity mindset. The thought of 'Is it enough?' can be stressful. It can consume you as well as take up precious mental space and energy with worry. I had to understand that to travel far in business and to truly be successful I needed to spend on my team, resources, software, and the things required to make me successful in my businesses. Once I changed my mindset, my businesses began to grow exponentially."
On her money mantra:
"What gets measured gets done."
On the craziest thing she’s ever done for money:
"I'm structured in my personal life, in my business, and I'm certainly structured with my finances. It's rare I'll make random purchases. If it doesn't make sense or if I can do without it, I just won't. The other thing is I rarely buy on trend. That goes for shoes, clothes, furniture—whatever. Even the items in my closet for the most part aren't [trends]. The problem with following trends is that trends change, and trends aren't budget-friendly because you always have to keep up."
On the worst money-related decision she’s ever made:
"The worst money mistakes I've made all happened because I did not follow my instincts. I was presented with a business deal that I didn't feel good about, but I did it to please others I cared about. The structure was wrong, there was no long-term plan, and I didn't trust the business owner completely. Within 90 days, the business collapsed, and I lost all the money I had invested. It makes me sick to my stomach to this day because I didn't trust my instincts that were 100 percent right. Discernment is real, and every mistake I've made is because I didn't listen to my spirit and it always backfired."
On her budget breakdown:
"My budget breakdown for my business is one-third goes back into the business, one-third toward business expenses, and one-third is for me. Keep in mind for a long time I did not take a salary. It was more important to keep my team and put it back into my business. When I teach financial budgeting for influencers, I normally use this breakdown for personal expenses:
Housing: 40%
Auto: 15%
Expenses: 20%
Savings/Investments: 15%
Wants: 10%"For more Sara Lovestyle, follow her on Instagram or visit her official website.
Featured Image Courtesy of Sara Lovestyle
As again, I watched her try and navigate through both relationships as she strived to figure out which man would truly be the best fit for her, I thought about a question that I get emailed on a semi-regular basis. When you’ve been with someone for a while, when you have deep and profound feelings for them, and when you’re not sure if you’re just being “extra” or something really is “off” in the relational dynamic — how do you know if it’s time to stay vs. when it’s time to go?
Before we get all up into this, let me just say that I’m addressing this particular topic from the angle of NOT being married. Because I personally think that the covenant of marriage is way more sacred and serious than a dating situation, I would be giving some different advice for husbands and wives. Also, I’m not including the topic of abuse (neglect included) because I’m hoping it goes without saying that if any type or level of that is transpiring, you definitely need to bring things to a swift and permanent end.
With all of that out of the way, today, we’re going to explore seven questions that you should ask yourself in the instance that you just can’t seem to “scratch the itch” on whether you should remain with your bae…because while nothing is actually “bad,” things are not as good as they used to be either. And since time is precious and you don’t want to waste it, you want to make sure that you’re right where you’re supposed to be.
Are you ready to (hopefully) gain more clarity than you had before clicking on this article? Let’s do this.
1. Do I Get That Even Relationships Have “Seasons”?
GiphyEcclesiastes 3 starts out talking about the fact that there are times and seasons for everything. And you know what? Relationships are not exempt. The reason why I’ve written articles for the site like “The ‘Seasons Of Sex’ That Married People Go Through” is because everything in this life has seasons — you know, periods when things shift. When it comes to the weather, whether we like the season that we’re in or not, we simply adjust because…what choice do we have?
Oh, but when it comes to relationships, so many of us have been conditioned to think that things are supposed to remain one way (usually the way we want it to be), without fluctuating, the entire time, that when there is a season of distance, disconnect or misunderstanding, we automatically believe it’s our cue to bounce instead of taking some time to process if it’s simply a period for communicating, maturing and learning more about our partner.
Listen, there is no way that people can grow without it affecting those around them, especially the ones whom they are closest to. So, before you decide to end things with your significant other, talk to them about what’s going on so that both of you can figure out if you’re going through an unfamiliar or uncomfortable season or if things are transitioning in a way where the relational dynamic no longer serves one or both of you.
Because I’ll tell you what — the people who have mastered longevity in relationships know that just like the weather, sometimes there are things that you have to learn to be flexible about…because even if you’re not thrilled with how certain things are at the moment, just like the weather, oftentimes, those things will change. Just like summer isn’t forever and fall comes in due time.
Plus, if you’re someone who can adapt well, there are pros and cons with different seasons, too. For instance, if this is a season when your partner is working more hours or traveling more than usual, if the goal is to get promoted or stack bread, the extra time that you have for yourself could help you to create some more long-term or short-term goals, pick up a hobby or do some self-work. Then, by the time things level back out, you’ll both be better people because of the “season.” See what I mean?
2. Did I Go into This with Unrealistic or Unfair Expectations?
GiphyI’m gonna tell you, right out the gate, what an unrealistic or unfair expectation is: If you thought that things were always gonna go your way or you were gonna get what you want right when you want it. I can’t tell you how many people have pretty much worn me out in counseling sessions, and it’s all because they thought a relationship was a catering service — that them being happy all of the time was to be the top priority and non-negotiable goal.
WRONG.
Something that wisdom, maturing, and self-reflection will teach you is that one of the main purposes of a relationship is to be with someone you love, respect, enjoy, trust, and can rely on to help you become a better person as you do the same for them. And no, that is not always going to be a fairy tale. In fact, I have said on many occasions that I loathe fairy tales (for adults) because I know what they mean: a story told to children and/or an incredible and misleading account. And don’t even get me started on the women who profess that they are waiting on their Prince Charming. After all, the Bible tells us that “charm is deceitful” (Proverbs 31:30).
Does this mean that you shouldn’t expect to have your needs — and even some of your wants — met? Of course, you should. Yet your needs need to make (reachable) sense. And honestly, a lot of folks could stand to ask themselves if they are able to give their partner all of the things that they expect from them (because many cannot).
So, what are some examples of unrealistic/unfair expectations?
- Expecting your partner to think just like you do
- Expecting your partner to read your mind
- Expecting love to mean that you won’t have to compromise
- Expecting your partner to give above their means
- Expecting your partner to be the sole source of your happiness
- Expecting your partner to love you more or better than you love yourself
- Expecting your partner to put their own needs in jeopardy just to meet yours
- Expecting your partner to always agree with or concede to you
- Expecting your relationship to always have good times and no challenges
- Expecting your partner to be the only one to make sacrifices
- Expecting every expectation to be met
I really was on a roll while writing these out, yet I’m sure you get the gist. Being in a relationship with another human being means that they have their own opinions, perspectives, and expectations — and they aren’t always going to match yours. And so, if you think that the sign of a healthy relationship is that they should, you really should be alone instead of trying to be with someone else. Because that way of thinking is the most unrealistic of them all.
3. Are We Incompatible or Am I Just Impatient?
GiphyWhen you get a chance, please read, “If He's Right For You, He Will COMPLEMENT Your Life.” In another article, I’ll be addressing why love is not enough in relationships. For now, one of the reasons why that is the case is because you can LOVE a lot of people who you simply cannot DO LIFE with. That’s why it really is important to seriously ponder if you and he are compatible or not.
To be compatible means that you share similar values, have like-minded relational goals, want the same long-term things out of life, have at least some of the same interests, and complement each other well when it comes to things like communication and meeting each other’s needs.
Listen, I’ve loved a few men in my life where these boxes did not check off, and because of our feelings for each other, we stayed together far longer than we ever should’ve.
At the same time, what if you are compatible with someone, but you’re just impatient as hell? I’ve been watching the current season ofReady to Love, and there are some women on there who are mad pushy when it comes to the clock. Personally, I don’t even know how you can hop on a show where you just met some dudes and roll up on them talking about how you want to be married by the end of the year. Yeah, it’s another message for another time, the amount of people who are tied to a goal more than a person.
Anyway, sometimes your partner can be in the same chapter as you (love story-wise) yet still not necessarily on the same page. Meaning, say that you want to be married this year, and he wants to wait until this time next year — are you contemplating ending things without considering his frame of mind? Maybe he wants to save money. Maybe he’s trying to secure some things professionally first. Maybe he wants to give you the kind of wedding (and ring) you want without relying on credit to get it.
It's one thing to end a relationship because you both want different things out of life. Oh, but it’s completely different to bounce because you’re used to folks giving into your pressure, ultimatum, or time frames. I’m not the one who thinks that a good man is hard to come by; I know many. I do think finding YOUR FIT isn’t as easy as you might believe, though.
A Canadian writer by the name of Janette Oke once said, “Impatience can cause wise people to do foolish things,” and, to that, the Good Book says that “Loveis patient” (I Corinthians 13:4). If you’re gonna end something, make sure it’s because the puzzle pieces don’t fit; not because you’re too impatient to see how the pieces will create a beautiful picture…when the time is right.
4. Do I Still Love, Like and Respect Him?
GiphyThe married couples whom I work with know that I live by a certain, I guess you can call it a motto: “If you still like each other, you can get back to love.” Liking someone is about enjoying their personality, wanting to spend time with them, and having feelings that are rooted in friendship, acceptance, and appreciation. When those things are present and accounted for, all of the butterflies, googly eyes, and sheer lust that the feelings of love may provide — they can usually get you through the seasons when those feelings seem to be missing.
And respect? Listen, a lot of women get triggered by the fact that the Bible instructs husbands to love their wives while telling wives to respect — respect, not love — their husbands (Ephesians 5:33), yet you know what? If you’re gonna be real with yourself, you know that it’s hard to love a man who you don’t respect — who you don’t esteem. We’re simply not wired to trust a man who we don’t think will be a good provider, protector, and leader on some level.
Confession time: I stayed in a relationship with someone who I really liked, kind of loved, and absolutely did not respect (as a man) for quite some time, once upon a time. And all it did was make me resentful and him insecure — and that was a form of mental and emotional torture for both of us.
You’re not doing a man any favors by staying with him if you don’t respect him. And it doesn’t make sense to try and build a future with someone who you don’t like a ton. As far as love goes, love is a beautiful thing — very. All I’m saying is, like, love and respect are a package deal when it comes to how we see a man. If one of those things is missing, ask yourself why and then be honest about if anything can be done to change how you’re feeling or…not.
5. What Would Improve About My Life If I Leave?
GiphyThis right here. Although this article is for people who are dating and not married, I do think it would be beneficial to put on record that, on average, somewhere between 30-40 percent of people regret getting a divorce. I think one of the main reasons is because the person you were when going into a marriage isn’t the person you are leaving it. You’re older. Dating dynamics in society have changed (and are ever-changing). You probably have a different set of life circumstances that may make dating more challenging (for instance, you may have kids now, and it takes a very special person to be a good potential stepparent).
Unfortunately, a lot of people will leave a relationship without considering this, only to have the ice-cold water of reality hit them smack dab in the face.
Now listen, I will be the first person to say that one of the major perks of dating is you don’t have to try and put the same effort into your relationship as married folks do. In fact, all of these non-engaged folks who spend months and years in couples therapy to try and make things work? Unless you’re someone who is in a long-term relationship with no desire to ever get married (check out “12 Couples Reveal Why They're Happy With A Long-Term Commitment Instead Of Marriage”), I don’t even get why you’re going through all of the trouble (or is it drama?). Some people have acted married before marriage so often, they don’t take marriage seriously enough when it finally does happen for them. SMDH.
This is where this particular question comes in. When you’re just dating, you really don’t have to hold on for dear life. You’re not “failing” if you realize that someone really is awesome — just not the right or best fit for you. And the reason why you know this is because you can actually name more than three ways that your life would get better if you left them alone.
Maybe you’d feel less stressed out. Maybe you’d have more time to focus on some personal ambitions. Maybe you’re compromising some core values that you want to get back to. Maybe they have you questioning some things about yourself that you know you shouldn’t be. Sometimes it’s as simple as maybe you’re feeling like something/one is better for you, and you know you won’t find them while you’re still…where you’re at.
This particular question really is underrated on a lot of levels because, while a lot of people are out here ending relationships on an emotional impulse, when you know that you’re leaving because you have a literal list of how your life would improve if you did dip out, that makes grieving the relationship less painful and finding closure, on some levels, less necessary (as far as dragging things out are concerned).
6. What Would Be Beneficial If I Stay?
GiphyIf something (or one) isn’t making you better, it’s either keeping you stagnant or making you worse, and you know what? Neither of those are good. So yeah, it’s also wise to ask yourself how you would benefit — mind, body, and spirit — to stay where you’re at. And honestly, one of the best ways to figure out the answer to this question is to fully take in a relationship-based quote that I have shared on the platform before:
“As soon as the love relationship does not lead me to me, as soon as I in a love relationship do not lead another person to himself, this love, even if it seems to be the most secure and ecstatic attachment I have ever experienced, is not true love. For real love is dedicated to continual becoming.” (Leo Buscaglia)
When something (or someone) benefits you, they are helpful, they are useful, they are constructive. No, this does not speak to transactional dating (which is oftentimes very self-centered and mercenary); what this means is they are improving your quality of life — prayerfully, on several levels. And no, this does not mean that everything is easy all of the time, either.
Sometimes, what helps you is constructive criticism. Sometimes what’s useful for you is being challenged in ways you’ve never been before. Sometimes what’s constructive is learning how to be more flexible, understanding, and forgiving (umm, like you would want your partner to be towards you…right?).
So, just like you should ask yourself how you would get better if you left, be real about how you are becoming better by staying. This is where a good old-fashioned pros and cons list comes in super handy. If the “improve” outweighs the “beneficial,” if you know that you are not becoming more of who you need to be thanks, in part, to the influence of the relationship…well…I’m sure you get what I’m about to say…about that.
7. Have I Been Here Before?
GiphyA wise person once said, “Everywhere you go, there you are” and boy, can it be a hard pill to swallow sometimes. Something else that I’m a firm believer in is that the universe will keep you in the same “life class” for decades if needed, until you learn whatever it is that a particular lesson is trying to teach you. So, one more question: Before you decide to call it quits, how many times have you been in this same spot — the same kind of relationship? The same type of guy? The same kind of issues? The same type of break-up?
Because there is absolutely no point in abruptly chalking it up to, “It was all his fault…again,” just so you can find another man to say this about in another six months or a year. If you’ve been here before, take some time out to do some serious self-pondering as to why.
__________
Every action has a reaction; I’m pretty sure that you’ve heard that saying at least once before — and when it comes to ending a relationship, it is most definitely true. If you’re wondering if you should, honestly, that’s already a feeling that is trying to tell you something. However, now that you’ve read all of this, hopefully, you can take some actions that you will feel at peace about…and won’t regret.
Because if you’re gonna end something, it’s a good idea to know why, so you can feel truly at peace about doing it — and yes, I’m speaking from very up close and personal experience here. Get your internal answers. Move wisely from there, sis.
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Featured image by Lyndon Stratford/Getty Images
