In 2019, the average tax refund was $2,869, which is almost an entire month of income for many Americans. A sudden influx of cash makes it so tempting to splurge, but does that align with your long-term financial goals? As savvy responsible women, we have options besides breaking the bank on a new pair of heels, a lavish vacay, or a designer purse.
Have you thought about how you will use your lump sum of money this year? It's not too late to make smart financial decisions. If you want to invest in your future, then learn the best ways to invest your tax return instead of blowing through it.
Start Or Grow A Business
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You may be a founder or thinking about becoming a founder. Either way, an investment in something that's all yours is a great way to spend your tax return. In 2019, there were 30.7 million small businesses in the U.S and nearly 80% of those businesses employ only the founder. Business is booming! Instead of spending your money on material things that give you instant gratification, use your tax return to start or grow a business that helps you in the long-term.
The majority of businesses are started using personal savings. You never know what could happen. You could turn your tax return into a profitable business that pays for the luxuries you didn't splurge on this year.
Create Or Expand An Emergency Fund
If you haven't created an emergency nest egg, then this is the perfect opportunity to finally create one. You don't have to dedicate all of your tax return to an emergency fund, but it would be smart to dedicate at least a small portion. If you already have an emergency fund, it doesn't hurt to expand because emergencies are truly unpredictable. It's better to be safe than sorry.
Invest in Career-Building Certifications Or Continuing Education
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The most successful business leaders in the world all have different paths, but they tend to agree on one thing. Learning is key. When the average person has 10 jobs by age 40 it's easy to understand why highly accomplished people preach the importance of staying competitive by continuing your education. This doesn't mean you have to run to the nearest university and spend a ton of cash. Continuing your education is as simple as taking an online class, buying helpful books, or gaining a certification. Whichever method helps you to acquire knowledge to better yourself. Whether it's for financial gain or to fulfill a passion of yours.
Leave Your Debt Behind
Paying off your current debt is a fantastic way to spend your extra cash, especially if your interest rates are sky-high. The less debt you have, the less accrued interest.
This is the perfect time to pay off existing credit card debt, especially debt that you acquired in anticipation of tax season. Or, contact your student loan servicer to make an extra student loan payment. Ditch the monthly minimum this month, so you save money in interest costs. Just make sure to prioritize debt with the highest interest rates.
Invest In Valuable Stocks
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Investing your money now could potentially make you rich in the future! According to an analysis by Rubicoin (digital educational investment platform), had a person invested the average tax refund of $3000 in Netflix, Apple, and Amazon over 10 years, then their $30,000 investment would have turned into $220,000! Now that's a good return on your investment.
Just think, with the proper research and strategic investment decisions, that could be you. Stock ownership is a great source of passive income. Make money while you sleep! Investing in stocks is perfect for someone who isn't scared of taking on risks to potentially reap the benefits in the future.
Save To Buy A Home Or Increase Home Equity
If you want to leave behind the days of renting or living at home, use your tax return towards a down payment on a house. Start the journey towards saving enough money to cover a down payment and closing costs for your home. Next year, you could be sitting in your very own place decorated to your liking!
If you already own a home, then use the extra cash to increase your home equity. You can make extra mortgage payments or make a direct payment to the principal. Paying down housing debt can help to lower interest expenses over the length of the loan. The more home equity you have, the less you owe while gaining more value in your home. Unlike many other forms of debt.
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The couple met years ago at their alma mater, Clark Atlanta University, when they were still working to create the life they have now, and if you had told them then that they’d eventually tie the knot, the pair probably would’ve laughed in your face.
Today, they’re new parents, flourishing in their careers, and each others’ “teammates.” When desiring love, Dalen recommends not looking to other couples for advice. And Stacey advises staying true to what you want. “Don’t put age or limitations on love and children. If God could do it for me, why can’t he do it for you?”
Here's How We Met.
How did you meet?
Dalen: We met in 2005 when she was advising the Greek sororities and fraternities in college. She was old as hell in college, and I was a young buck (laughs). Everybody had a crush on her, but I didn’t think much of it. Then, in 2007, we were in the same grad school class, but she still wasn’t trying to see me then either. I had to catch her five years ago; I was very patient.
Stacey: Yeah, everybody in our grad school class called him Young, Fresh to Death because he was always dressed in B-school (what CAU affectionately refers to as business major classes), and we’d just wear sweatpants (laughs).
So, I know Dalen was always attracted to you. But what about you? Did your attraction to him develop over time?
Stacey: So 2006-2008 – all the years went by. I don’t think we were really thinking about each other at all back then. Years later, I had an event in Dallas, and I booked him to be a speaker. Then, a few years ago, Dalen posted a photo of him on Instagram, and I slid in his DMs. I remembered him being so young and handsome, and I’m like, I should hook him up with my younger cousin. His response was: "If you’re not hooking me up with you, no thank you." But I still thought he was too young at the time, and he started pulling receipts. Taraji P. Henson was dating someone young at the time, Gabrielle Union–
Dalen: First of all, I didn’t do that. You did that.
Stacey: Okay, I did. I thought he was a cutie pie, but that age thing was on my mind!
"Dalen posted a photo of him on Instagram, and I slid in his DMs. I remembered him being so young and handsome, and I’m like, I should hook him up with my younger cousin. His response was: 'If you’re not hooking me up with you, no thank you.'"
Courtesy
Talk to me about the first date. How did he change your mind?
Stacey: Our first date was at Tin Lizzy's in Atlanta. During that time, he was living in Dallas, so it was long-distance. But he came into town, and we just had a good time. We talked a lot, which we still do. It wasn’t anything fantastic.
Dalen: Don’t downplay our first date.
Then, walk me through your courtship. How did you get to the next level? What was that conversation like?
Stacey: I think he knew at age 43 or 44 I wasn’t playing around. But also, I think it just naturally progressed.
Dalen: Yeah, it just happened naturally. And I’m going to be honest, I don’t think initially either one of us thought it would be as serious as it was. She thought I was too young and I wasn’t ready for marriage, kids, and all that. I think we both thought we were just hanging out. But after spending so much time together, a lot of stuff started happening. Like, she had to have surgery early on. It wasn’t just time together; it was intimate time. Next thing we know, we just never left each other. That’s why we still don’t have an anniversary date because we never really asked.
"It wasn't just time together; it was intimate time. Next thing we know, we just never left each other. That's why we still don't have an anniversary date because we never really asked."
What made you want to commit to each other?
Dalen: The moment I knew Stacey was for me was from a phone call. I don’t really like talking on the phone, and I can be really blunt sometimes. But we were talking, and I said, ‘I don’t really feel like talking anymore.’ And she was just like, okay, and hung up. I wasn’t trying to be rude, and she understood that. It sounds bad, but that’s how I knew she just got me. I felt like she could get my random awkward moments, and she does to this day.
Stacey: For me, I liked him as a person. Even when times get rough and tough, I could still like him as a human. He is my best friend. We have time. We laugh until we cry, and it’s just always like that. Even when we get pissed at each other, something happens, and we fix it. Also, how he treats his mother. That’s a momma’s boy, but I’m a daddy’s girl – so I get it. I know how I want to be treated, and I see how he is with her and that’s beautiful.
What are some important lessons you’ve learned about yourself through loving your partner in this relationship?
Dalen: I grew up an only child and she grew up with siblings. So, when you have someone who is used to doing things by themselves, there is definitely a learning curve when you get into a serious relationship. It’s funny now, but it was definitely a process.
Stacey: I agree – definitely the only child thing. There’s times I look at him like, did you ever live with anyone else? That comes from being momma's baby, too. I have to say, my “mother-in-love” spoiled him. But also with Axel (their daughter), that brings another level of patience.
Photo by Paras Griffin/Getty Images
What was the biggest challenge that you had to overcome together?
Dalen: We’ve gone through a lot within the years we’ve been together. We suffered two miscarriages – I’d say that’s the biggest.
Stacey: Having those miscarriages and trying to understand what’s next and what our options are was a lot. I had two myomectomies (fibroid surgeries), and he supported me through that time. Also, still, it was on my mind that he’s eight years younger than me. I was wondering if I can’t carry [a child] what that looks like for us. We had very real conversations pretty early in our relationship.
"Having those miscarriages and trying to understand what’s next and what our options are was a lot. I had two myomectomies (fibroid surgeries), and he supported me through that time. Also, still, it was on my mind that he’s eight years younger than me."
What do you fight the most about?
Dalen: Nagging. Stacey nags; she’s a complainer. She’s that momma that will look in a room and just hunt for something to complain about. Like, I’m worried for Axel when she's in high school.
Stacey: It’s because I like things to be in place. He leaves stuff all over the place. I can tell where he’s been in the house because something is left around. So he says I’m nagging – but it’s like, just get your stuff.
What are your love languages?
Dalen: Stacey is gifts all day.
Stacey: *thinks*
Dalen: We’ve talked about this. xoNecole is about to cause problems in our home (laughs).
Stacey: Obviously I love you. *thinks again* It’s words of affirmation.
Dalen: That’s it.
What’s your favorite thing about each other?
Dalen: I’ve always respected her business-mindedness. That may sound superficial, but it’s not because I’ve never been with someone who thinks like me. It’s one of my most treasured things about her. I remember one day, I was just running through ideas with her, and each time Stacey had a suggestion on how I could make it better. It’s just very comforting. She takes whatever I’m doing and elevates it – including me.
Stacey: I love Dalen’s hustle and creativity. He’s been on multiple shows, and he continues to create, produce, and reinvent himself and the product he’s putting out. I love that we can create together and bounce things off each other. Even though we may be in different arenas, there’s nothing he can’t offer me great advice about. I love that drive.
Finally, how did you know it was love?
Dalen: Well – she said it – first. (laughs)
Stacey: And he looked at me and smiled! He didn’t say it back. We were on a trip, out of the country.
Dalen: We were arguing when she said it, and she just threw it out.
Stacey: But we continue to do that. We’ve spent holidays and everything outside of the country.
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How To Do a Sunday Reset Routine
The beauty of a Sunday reset is that it’s something you can define for yourself. On a personal level, only we know the tasks, projects, workload, and duties that demanded our attention during the week prior, so how we choose to recharge may look different for everyone. Some may feel the need to tackle weekend chores or run a few errands, while others could find that an hours-long binging spree of their favorite TV show or simply doing nothing, can do the heart some good.
Resetting your time, space, and mind over the weekend is all about listening to your body and honoring your needs. When you pause and reflect on what will make you feel the most productive, you gradually discover what a successful Sunday reset looks and feels like for you. By taking some time to plan and reflect, you allow yourself to approach the new week from a place of ease.
How To Build the Best Sunday Reset Routine
But what kind of reset could be right for you? Let’s consider the following: are there things you could scratch off your to-do list to put your mind at ease? Did this week drain you and now you need to catch up on rest? Are you looking to get ahead of a demanding week? If you’ve found yourself agreeing with at least one of these scenarios, we’ve put together a couple of tips to inspire your next Sunday reset routine needs.
The Sunday reset routine for the woman who thrives on productivity:
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Hey goal-getter! For you, a typical Sunday reset looks like planning and execution. The weekend is a chance for you to catch up on all the chores and tasks that your hectic weekday schedule didn’t allow for. When planning your Sunday reset, to-do lists are your best friend. Lean on your list to stay organized and keep track of the stores you need to visit, meals to prep, and house chores to tidy up in order for you to feel like your most accomplished and productive self.
Be sure to give yourself some grace if you don’t hit everything on your list, and be sure to reward yourself for what you were able to carry out — because either way, you deserve it.
The Sunday reset routine for the woman who needs some TLC:
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Self-care queens, we see you. And we know that your Sundays are sacred. You are intentional about your Sunday resets because you know that you can’t pour from an empty cup. In your case, resets are all about taking time to reflect and set your intentions for the week ahead — which can show up in many forms. From journaling and reading a new book to taking a long walk and ordering in your favorite meal, you don’t play when it comes to the power of self-nourishment.
Take a few minutes to look back on the previous week and reflect on what went well and what didn't. Think about what you accomplished, what you could have done better, and what you learned so you can approach the week with a clear mind and heart.
The Sunday reset routine for the woman who desires to do absolutely nothing:
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I know you’re used to high-achieving and tackling your goals, but let me tell you something: rest is productive. You’ve spent the last five days hustling, killing your projects, and showing up for the people in your life, but now it’s time to take a moment to simply be. No to-do lists, no errands to run, no socializing — you deserve time to zone out and reconnect with yourself in solitude.
Sleep in. Watch scandalous reality TV. Get lost in your thoughts. You’re not lazy for spending time alone and letting the laundry pile up; we know you’ll get to that later. This Sunday reset is about taking time to center yourself in the present moment, you’ll be back on the grind on Monday, but Sunday is all about you.
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Originally published on March 4, 2023
