Take Care of Your Money, & Look Good Doing it.
The SAVVY STEWARD Blog
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Happy Thanksgiving, Everyone! I am vehemently not one of those people who skip over Thanksgiving to get to Christmas. I love Mariah Carey just like everyone else, but all I want for Christmas is for us not to forget Thanksgiving. For me, the holiday gives me the opportunity to stop and reflect on what’s really important in my life. I’m not talking about macaroni and cheese, even though it’s my favorite. My priorities are my faith and my family, and I get the opportunity to focus heavily on these things as well as rest and reflect on my blessings during Thanksgiving. Gratitude does not take much, but I do not want to negate how much of an impact it can have. Here are a few ways that you can show your gratitude for free:
Complete a task for someone else. Someone else could be your partner, your parent, your friend, or even your boss. These tasks could be as simple as washing the dishes, shredding paperwork, or even walking their dog. It does not have to necessarily be something that is a physical task, but it should be something that improves the other person’s peace of mind and well-being. By taking something off of the plate of someone you love, you show them that you are truly grateful for them.
Send them a compliment or a note of encouragement. I cannot stress enough that we are not always privy to the struggles that people go through. Many people choose to keep their tears, their stressors, and even their aches and pains private. A compliment goes a long way to people who may not even recognize what they may be doing well at a particular time. If we’re being honest, there is never a moment when you would not accept the motivation to just keep going. If they got out of bed this morning, that’s enough to shout about!
Just say thank you. Literally only two words that can go with anything. Thank you for your email. Thank you for making me laugh. Thank you for praying for me. Thank you for putting up with me (I know it’s not an easy task). Saying thank you makes a lasting impact that we may never see. But that’s okay, do it anyway. Gratitude is not about reciprocation, it’s about multiplication. The more you express gratitude, the more you’ll see things to be grateful for.
This season, I am bursting with gratitude for my family. Recently, I had the opportunity to travel to New Orleans for the first time! I spent quality time with my cousin Jalin, whom I’ve not seen in a few years! Don’t we look alike?
The SAVVY STEWARD Blog
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Happy September, Everyone! I’m so excited for fall, football, and all the rest of the season’s festivities. As I reflect on the changing weather climate, I am also reflecting on the changing technological climate. So many businesses are going cashless that it’s hard to keep up. Even my alma mater, Georgia Southern University, has an Amazon walk-out store where you tap your card before you even enter. Now more than ever, it’s important to incorporate some type of artificial intelligence (AI) into your business processes. Whether it’s used to streamline, market, or beautify your current activities, there is no doubt that AI improves efficiency. Here are the top 3 ways I’m using AI in my businesses for free.
Let’s go ahead and get the low-hanging fruit out of the way first. I use ChatGPT at least twice a week. Chat is literally my primary ideation partner. I use Chat to write emails, letters, proposals, and so much more. Most recently, I have enjoyed using Chat to write press releases for events and announcements. I am careful not to share any identifying data with ChatGPT and I suggest you do the same. You can even use features without creating an account or logging into the software. Just a quick pro tip: make sure you give Chat a personalized prompt, do not just tell it what to do, or you may not get the result you’re looking for. So a prompt for me coils look something like this, “Imagine you own a financial and business consulting company, write a press release for your free upcoming financial literacy sessions at your local library.” There is no identifying information about the name of my company or my local library and in less than 30 seconds, this press release is complete.
If you follow me on social media (@loveserveeducate on Facebook, Instagram, LinkedIn, or YouTube), you may have already noticed that I use OpusClip to create reels. I record long-format videos and then upload them to Opus to create short-form content. Opus creates about 20 clips in between 5 to 10 minutes, fully equipped with captions, varying time limits, and grades (A-F) about how likely the clip will connect with your audience. The free version comes with 100 credits, which is equivalent to 100 minutes of video, and also has the OpusClip watermark, but you can always upgrade if you need more credits or the watermark removed.
Last but definitely not least, I have to make it known how much I love Gamma. Gamma is a more recent find for me, but it has been a game-changer. I primarily use Gamma for presentations, but it can enhance visuals for social media, documents, and websites. Remember, I’m the numbers girl, the money lady, the Savvy Steward. I’m not a super creative interior or exterior designer. I know when things look good, but I have no idea how to make them that way. That’s where Gamma comes in for me. I can develop a blank presentation with black lettering on a white background and Gamma enhances the aesthetic with beautiful variations of colors, fonts, and photos. Chef’s kiss literally.
All in all, do not let AI scare you or paralyze you. Give it a try and see how you can best incorporate different tools into what you’re currently doing. Be on the lookout for a YouTube video from me about these tools and more!
The SAVVY STEWARD Blog
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Happy August, everyone! While most people may be celebrating the last full month of summer, this month I am celebrating my 8th year of being a homeowner. I recently had a conversation with an associate about how 70% of the people who live in my city are renters and the Georgia state average is 30%. So, of course, I naturally had two questions. Why aren’t more people homeowners and what can I do to help more people become homeowners? I believe people perish for their lack of knowledge—and this isn’t limited to academic education but also financial education and general awareness about available resources. So here are just a couple of things you should know about owning a home.
First things first, it’s important to have good credit. If you are not paying for a home in cash, you cannot get around needing something to leverage, which is most likely to be your ability to pay back funds that you borrow. My Nana, God rest her soul, deeply emphasized the importance of paying all your creditors in a timely manner. Literally a couple months before she passed away, I remember sitting in her room with her as she was paying down her catalog bill for clothes she had purchased that she wasn’t even wearing. I asked her, “You’ve been sick. Why are you paying that?” “You always pay your bills, no matter what,” Nana said. And I always have.
Remember, having good credit is simply telling your lender that they can trust you to pay them back. How many times do some people disown family members because they never paid back that $20 you let them borrow and you always see them on vacation on social media? As they used to say in church, I’m not talking about you, I’m talking about your neighbor. How much more then should we be willing to pay off the bank that loaned us thousands to buy a car, instead of allowing it to get repossessed?Next, having good credit opens up the opportunity for better financing options. Good credit means better interest rates and even down payment assistance through applicable programs. Please know that your financing has to be in place before you pick out your house. I have seen many people put the cart before the horse and reach out to a realtor before a lender, not knowing how much house they can truly afford first. Realtors have lenders in their network, but they are usually going to refer you to the one that gives them the best benefit, not you. Research different banks and mortgage lenders and find out what is best for your budget and your housing goals.
Also, know that the process is very invasive and extensive. There are a lot of documents and there are multiple parties involved, including lawyers, notaries, appraisers, and inspectors. After you purchase your home, the fun has only begun, as you may still have different renovations and repairs that need to be completed from time to time. Make sure your savings account does not only covers your down payment and/or closing costs, but also any unexpected needs from normal wear and tear—or even natural disasters. See my photo reference of my cute little ranch-style home with the new roof courtesy of Hurricane Helene.
Happy house hunting!
The SAVVY STEWARD Blog
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Happy July! As you may have seen we are celebrating our 6th year in business this month! I want to take a moment to thank everyone who has celebrated with us as well as all of our team members, clients, advisors, social media followers for your partnership in making LoSeEd Financial and Business Solutions successful. 2019 seems like so long ago while it simultaneously feels like yesterday. What started out as a seed of an idea has grown into a sequoia of a business that is SBA certified and services clients internationally. As I reflect on how we’ve grown, I thought I would share a couple of steps I took when starting my business that can be helpful for you as well.
Step #1 - Creating a Business Concept
This is easy for some and hard for others, but no matter where you fall, we’re going to talk through it together. All of my businesses are connected to skills and personal interests that my husband and/or I have. LoSeEd specifically is directly tied to my accounting education and experience, which would be seen as common since many businesses are started from hobbies. But what if you know you want to have a business but do not know where to start because your interests just don’t seem like enough? My first suggestion is to start with how passive or active you would like to be in your business. If you don’t have much free time, I would not recommend you open a storefront; a nice parking lot management or vending machine operation would be great. Secondly, are there any enhancements that would improve certain products or services that you are affiliated with or already use? Whether you believe his story or not, as a native Californian and lover of Hot Cheetos, I will forever be intrigued by Richard Montanez, who claimed to create Hot Cheetos while working as a janitor for Frito-Lay. He saw the need for an enhancement and it changed his life forever. If all else fails, check out smallbiztrends.com for ideas.
Step #2 - Choosing a Business Name
Deciding on what to name your business can be tricky. You should want your name to be unique but not too weird or vague that people do not know what your product or service is. LoSeEd is a very unique name of course that always needs explaining but because the full name includes the words “financial” and “business”, it helps to define the service offerings. You always want to make sure that your business name is not taken before you start any business. You can do a simple free business search on the Secretary of State site where your company will be headquartered. The last thing you want is a business denial letter or even worse, a cease and desist letter. But be creative when deciding on your business name and make sure it’s something that will make you proud.
The SAVVY STEWARD Blog
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Happy Summer!!! No matter if it’s 90 degrees or 70 degrees where you are, it’s time to celebrate longer days, more sunlight, and frequent weekend barbeques. Earlier this month, I enjoyed a well needed girls trip on a Carnival cruise to the Eastern Caribbean for 7 days. I had the pleasure of jet skiing for the first time in the Bahamas, exploring Umbrella Street and Pink Street in the Dominican Republic, and mostly lounging by the water in Turks and Caicos. Whether you’re traveling internationally or domestically this summer, here are a few ways to save some of your coins.
This first suggestion may sound weird to some, but I can say it’s true after seeing it with my own eyes. Use a private browser when doing any vacation research and booking. Due to all of the history and cookies (otherwise known as business ear hustling) on our normal web browsers, charges can and mostly will be higher when we are looking at pricing for flights and lodging. It is a common business marketing tool to give new customers preferential treatment with discounts and other promotional tools. This is the same way a private browser operates. A private browser has no search history or cookies therefore company websites are registering the site visit as a new customer rather than a recurring customer. The company wants that “new customer” to become a recurring customer so some discounts may be applied that are usually not visible to everyone else.
Another suggestion which may be more common is to travel the unbeaten path. Be willing to go where no one else goes and do what no one else does. Carnival cruises as well as many other cruise lines and even resorts have their own opportunities for off site excursions that appeal to many people. While these corporate sponsored excursions are usually the safest, they are also the most expensive and the least beneficial to the local economies. Therefore in the effort to save money but also support small business owners I am usually willing to forgo the more common corporate excursion for the more risky authentic experience. The blood of Jesus is my life long insurance policy and it has not let me down yet even with a 12 year old, unlicensed jet ski operator with a two mile travel distance just a couple short weeks ago. I am not encouraging anyone to be unreasonable so please have some discernment, common sense, good cell service, and travel in groups when possible.
Speaking of traveling in groups, that’s always a great way to save money as well. I have nothing against solo traveling, as it gives you the opportunity to set your own schedule without competing opinions. But if you can get past multiple opinions and occasional miscommunication, the group rate will always be the cheaper (and remember, safer) travel option. There were a total of eight of us on the girls trip cruise which reduced the cost significantly for transportation, lodging, flights, excursions, and even the cruise itself. It also helps that one of my sisters is a travel agent so she is always looking for the most cost efficient opportunities. The experience and the memories are the best part of any vacation so why not share them with others when you can? I unfortunately have no jet ski pictures because my hand, eye, arm, and finger coordination would not allow it, but here’s my youngest Gen Z sister keeping the memory fresh for me from Paradise Island. Happy Summer!
The SAVVY STEWARD Blog
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DescriIt’s My Birthday Month!!! May is always a month of celebration for me, and I pray you can find some ways to celebrate this miraculous month as well! In honor of embarking upon this new season, I am affectionately calling #thirtymore. Here are 34 birthday ideas under $34.
Go to the beach. (This is my favorite place to go. There is nowhere more relaxing to me.)
Go for a hike. (For those not close enough to the beach.)
Take a dance class. (One of my favorite hobbies. Dance classes are usually offered pretty cheaply at your local recreation center.)
Go to a museum (There are so many types to choose from! History, Art, You Name it!)
Go to a book signing. (This is actually one of my birthday activities this year! I can’t wait to see Kennedy Ryan in person!!!)
Go on a picnic.
Go bike riding.
Go to a Jazz Festival. (My family attends the Atlanta Jazz Festival each year. We bring our own snacks and just chill.)
Go to the Zoo or a live animal show. (Pro tip: If you live in Georgia, you can get free tickets to the Atlanta Zoo through your local library.)
Attend a live show taping. (Most audience tickets are actually free.)
Enjoy a Birthday Brunch. (I highly recommend The Flying Biscuit Cafe. You can thank me later after you taste the creamy, dreamy grits.)
Netflix and Chill. (Not in a weird way. Lol, if you enjoy being inside, this one always works! And I still can’t get over the last season of “You.”)
Go on a city scavenger hunt.
Go to the Farmer’s Market.
Go to a Botanical Garden. (This is a hidden gem in a lot of places.)
Visit a national park. (There are usually multiple in most states.)
Thrift store shopping spree. (Ball out on a budget!)
Go bowling. (This is my husband’s favorite hobby that is moving up on my list by association!)
Go kayaking.
Go to a water park. (In the summer, of course.)
Go to church. (The Word is the gift that keeps on giving.)
Go to a local bookstore.
Go fruit picking. (Peaches and berries are great this time of year!)
Host a Potluck Game Night.
Watch a Sunrise or Sunset.
Create your own vision board.
Host a Karaoke Night. (You can use YouTube!)
Create a scrapbook.
Enjoy a nice spa night. (Dollar Tree has everything you need from face masks to bath bombs!)
Go roller skating. (I’m not good at this, but I keep trying for some reason.)
Treat yourself to an ice cream date.
Write a letter to your younger self. (Let them know how far you’ve come!)
Spend quality time with your family members or friends. (Make lasting memories!)
Purchase a financial literacy session (Our on-demand sessions are only $25 with topics such as multiple streams of income, budgeting, insurance, and so much more!!!)
Here’s a photo from my birthday 5 years ago, but let’s just imagine it’s this year!ption text goes here
The SAVVY STEWARD Blog
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Happy Financial Literacy Month!!! I pray you’re feeling all the financial love on social media, and I want to encourage you to be frugal and fiscally responsible. If you love the NBA, like me, or even more than me, like my husband, you know of the term “The Big 3”. It refers to what some would consider the best/most important three players on the team and seems to have now become a requirement for modern NBA teams. Think Michael Jordan, Scottie Pippen, and Dennis Rodman, or one of my old favorites: Kevin Garnett, Ray Allen, and Paul Pierce. My current favorite “Big 3” is Stephen Curry, Klay Thompson, and Draymond Green. I’m still sad about the breakup—don’t remind me. Each player brought (Klay)/brings (Steph and Dray) their own x-factor to the team, and you definitely noticed when one of them was missing. They literally won 4 NBA championships together and were all drafted by the Golden Warriors, meaning that they did not need to leave to win—unlike some people.
When it comes to Financial Literacy, there is another “Big 3” that takes the cake. Budgeting, Credit, and Taxes will forever be the foundation of finances upon which each other's fiscal skill is built. Budgeting might be a buzzword, but it is literally making a plan for your money and telling it what to do. Too often, money walks people around on a leash when it should be the other way around. Budgets make sure your money is obedient, knowing when to bark, knowing when to sit, and knowing when to roll over. Your credit simply answers the question of “Can I trust you to pay back what you’ve borrowed?” An 800 credit score says, “You can trust me to pay you back, so much so that you’re willing to throw your money at me before I ask.” A 400 credit score says, “I may or may not pay you back, but please charge me a high interest rate because of this uncertainty.” Taxes are a societal obligation that should improve the lives of communities, whether nationally, regionally, or locally. Jesus said to render to Caesar what is Caesar’s centuries ago, and today we’re still rendering Alexander Hamilton’s to the United States Treasury. And just like then, there are still hefty consequences when you don’t pay your taxes, like fines, garnishments, and even jail time.
If I could make a comparison, Steph would be budgeting, Klay would be credit, and Draymond would be taxes. Steph is pretty consistent when it comes to making shots. Whether from the free throw line, the three-point line, or half court, if you consistently work your budget, it will work for you. When Klay is hot, he’s hot, and when he’s not, he’s not. Please don’t remind me of him going 0/10 in the elimination game. I know, I know. When your credit is good, opportunities can be endless, but when it’s not, opportunities are predatory. Draymond is definitely your taxes. If you don’t pay the IRS, they just might choke you, stomp you in the chest, or elbow you in the head. But if you do your part, the tax code can definitely be a benefit to you. But when it comes to any “Big 3”, they all work better together.
The SAVVY STEWARD Blog
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Fresh off the high of Valentine’s Day and with the wedding season of Spring and Summer right around the corner, it’s safe to say that love is in the air. I recently spent some time flipping through old photos and reminiscing on lovely moments during my now 10+ year marriage with a smile. Holy matrimony is surely a marathon and not a sprint, complete with hurdles, pitfalls, and bruises, but we can’t forget the laughter, the joy, and the Deion Sanders style victory celebrations after overcoming challenging obstacles. I will always be one to promote the sanctity and importance of marriage in all aspects of life but I think it’s time to better highlight the financial benefits of marriage.
With the rate of divorce in the United States being well over 50%, some people do not see the reason to get married anymore. I have heard everything from “marriage is just a piece of paper” to “marriage is just a way for someone to steal your money.” I will be honest and say that marriage is more about commitment than it is about infatuation. Leaving the toilet seat up, excessive facial hair in the sink, and other adverse bathroom habits quickly reduce even the idea of infatuation, so if it is made the foundation of a marriage, you can be sure it will quickly fail. But if a marriage’s foundation is commitment, then you can be sure that your partner doesn’t intend to hurt your feelings when they inevitably do; you can be sure that you have someone to help you up when you fall and you have warmth when you lie down.
Let’s not forget that financial commitments exist within marriage as well. The vow of “in sickness and in health” reminds me of the insurance benefits that a lot of married people share. Health insurance, vision insurance, and dental insurance have spousal options in order to make sure that special someone in your life has essential coverage. There are unfortunately no coverage options for friends whether they live with you or not. How many people leave any death benefits to their unmarried partners? I’m sure it happens, but I’m also sure it’s not very often. It’s also important to note that if someone dies without a will and no beneficiaries, an unmarried partner will not receive any inheritance. Death benefits will go to the next living family member, even if it’s one that they did not like or even know.
I would be remiss if I did not mention tax benefits while we still have a month left in the season. Married filing jointly is undisputedly the best filing status to have when preparing your taxes. Most single deduction limits are essentially doubled. For example, according to IRS Publication 523, “If you meet certain conditions, you may exclude the first $250,000 of gain from the sale of your home from your income and avoid paying taxes on it. The exclusion is increased to $500,000 for a married couple filing jointly.” And what about the benefits of having a second income? When you can live off of one income and invest with the other? Or when you can reach your financial goals faster because you are not working on them by yourself? I’ll take Marriage for $2000 Alex (may he rest in peace).
The SAVVY STEWARD Blog
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It’s mid-February so we should be well beyond spoiler alerts, warnings, or cautions. The second season of Squid Game was released on December 26th and if you are anything like me, you stayed up until midnight to watch it and were disappointed to find out it was released at midnight Pacific Standard Time and not Eastern Standard Time. The next day came with more fireworks than Christmas though as my family and I watched Seong Gi-hun try to get back into the game with the hope to put an end to it once and for all.
While we all love a great hero story, especially one with guns, car chases, and knockout gas, we cannot let that distract us from the strong themes of the bondage of debt and poverty in our beloved Netflix series. Debt so bad that you would allow someone else to slap you in the middle of a train station. Poverty so bad that it would make you choose the uncertainty of a lottery ticket over the certainty of a piece of bread when you are starving. A mix of debt and poverty so bad that you would continue to risk your life playing a series of games to become rich where failure means your execution and you only have a 1/456 (0.22%) to win. Doesn’t this seem crazy, or is it just me?
After some research, I found that many South Koreans live in debt and the average household debt last year was 91.28 million South Korean won or $63,390. But don’t get too haughty now Americans. According to Experian, the average household debt for U.S. households was $104,215 in 2023. I’m so sure it hasn’t decreased, I would be willing to run across a field of snipers while playing red light, green light as a bet on it. Therefore, no matter the country, debt, and poverty are lurking and waiting to strike after you jump off a carousel in an attempt to open a safety door only to find that it’s locked. Debt and poverty are the meanest of sisters, but they have an absolutely evil baby sister named Desperation. Desperation has no hope, no sense of endurance, and no aptitude for patience. She wants what she wants right now by any means necessary and will do anything it takes to get it no matter if it’s unethical, immoral, or even illegal.
Who wants to live in a community with desperation? Not me and honestly not you either. So how did we get here? An even better question is what is the solution? The more excellent way is to get off of the hamster wheel. The more excellent way is to create a budget and stick to it. The more excellent way is to develop a debt management plan and work with creditors until they are paid. Getting into more debt is never the answer and neither is playing relay games for your life. Once we are out of the debt cycle, let’s be like Seong Gi-hun and work to get others out as well by financially educating them on the danger.
The SAVVY STEWARD Blog
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Happy Valentine’s Day!
Love is in the air! And if you’re anything like me, you like to keep love in the air as often as possible! Love shouldn’t only be celebrated today, it should be celebrated EVERYDAY! We were created by God who loves us unconditionally, so much so that He sacrificed His only begotten Son Jesus Christ, that we could have life and have it more abundantly! Hallelujah! (***Insert Church Shout here!***) It is my honor and my joy to serve Him and be educated by Him! (You like how I did that there right? Love, Serve, Educate? I digress. lol)
This Valentine’s Day I was asked, “How can I spoil the one that I love on a budget?” It was a great question that sparked a great idea. Valentine’s Day for $50 or Less! Disclaimer: I spent more than $50 over the weekend, after a weekend mini-getaway to Florida. I have a full-time job, a part-time job, a nonprofit organization, as well as this business. Sis needed a break and a breather. I am Sis and Sis is me. But this budget is something I used faithfully each Valentine’s Day during the first 5 years of my marriage and I’ve currently been married for 7 years.
So, how are we breaking down the $50? We are going to basically split the costs between dinner and a gift. For me, there is no meal more romantic than a steak dinner. I don’t know why, but it is always one of the highest priced items on a menu. I will let you know right now, that if you substitute chicken with steak for your Valentine’s dinner, you have essentially cut your costs in half. So, our first $25 is for our food. You want to find two steaks for no more than $20. The cuts of meat are your choice, but your hard limit is $20. Not $20.01 or $20.05. Next, our sides are going to be mashed potatoes and broccoli. We’re on a budget so they are not fresh, but it’s the thought that counts. An off brand sleeve of instant mashed potatoes and frozen broccoli cuts should be more than $2.50 together. I can get them $1 a piece at Walmart, but I understand some stores may be different, and the US is currently going through a period of inflation. The last $2.50 is going to be spent on candles. Even the cheapest candles will make your dinner seem more intimate and romantic so we don’t want to forget these.
Our next $15 will be spent on a gift. You know your partner the best, so you know what they would like, but you also have to be affordable. My recommendation when selecting a gift is to be mindful of their love language. (The 5 Love Languages is a book by Gary Chapman. The 5 Love Languages include Quality Time, Physical Touch, Acts of Service, Words of Affirmation, and Gifts.) Five unisex gifts based on love languages could be a movie you know your partner would enjoy that you could watch together (Quality Time), Massage Oil (Physical Touch), a voucher for a car wash (Acts of Service), a thoughtful card deeply describing what they mean to you (Words of Affirmation), or a cheap piece of jewelry that they should not wear for a long period of time (Gifts). You can also go with the basic teddy bear, chocolate, and flowers too if you want, nothing wrong with the classic.
Your last $10 is for assistance with taxes as well as additional items that you may need for dinner. If you know me, you know I’m always going to include money in my budget for a contingency plan. I don’t want you to have to put anything back at the grocery counter because you did not have enough money. Additional items for dinner could include seasonings, sauce, cooking utensils, and candle holders. I know I didn’t account for wine, but you should be drunk in love like Beyonce anyway.
Lastly, what is Valentine’s day without entertainment? If you have any funds left, I recommend that you buy a deck of regular playing cards, nothing fancy. You should be able to purchase them for less than $2 and you can actually get them for $1 at the dollar store. After dinner, let your partner know that you would like to play an affectionate game with them. Take out the Joker cards then shuffle the cards and lay them down in a stack with the face of the cards facing down. You and your partner will take turns picking up a card and following these directions:
If one of you picks up a heart (♥), you will tell the other person a reason why you love them.
If one of you picks up a diamond (♦), you will tell the other person about a time they made you laugh.
If one of you picks up a club (♣), you will massage the other person’s hand for 30 seconds.
If one of you picks up a spade (♠), you will massage the other person’s shoulders for 30 seconds.
The game ends when one of you picks up the Ace of Spades; it means time for extracurricular activities.
Enjoy yourself this Valentine’s Day, but more importantly enjoy your partner!
The SAVVY STEWARD Blog
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It’s February already! Can you believe it? We have completed one month of 2022 and we officially have 11 more to go. And what’s any February without the mention of Black History Month on every social media site, commercial, and blog post? I want to properly and publicly acknowledge before moving forward that Black History is not only American history but it’s also World History. The oldest human remains are from where again? Oh, Africa, that’s right, not too far from the equator where the sun blesses God’s creations with all the melanin their hands and hearts can hold. So although Black History Month is acknowledged by the masses during the shortest month of the year, it is celebrated here 24/7/365, 366 during leap years.
Off my soapbox now and back to our regularly scheduled program. So what does Black History Month mean to me specifically as a Black Female Owned Business? Last week I shared on my social media stories that according to an economist at UCSC and a survey by Guidant Financial and SBTA respectively, there are 38% more black business owners in the United States today than February 2020 and as of December 2020, 46% of black small business owners are women. I am extremely proud to be a part of the growing population of black owned businesses and more specifically black female owned businesses. Personally, for me, being a black female business owner means continuing the legacy of my late grandfathers.
My paternal grandfather, Hosie Joshua, was born and raised on the remnants of a plantation in Mississippi in the late 1920s and only matriculated through the 6th grade. His tenacity and diligence pushed him to found his own cleaning company in the 1980s. His company supported his wife and 3 children and allowed him to own properties in California and Georgia in his lifetime. My maternal grandfather, Freddie Carter, was a Navy veteran in the Korean War at a time when black men were only allowed to serve in the kitchen of the ships. His perseverance and intuitiveness assisted him in starting his own wig company in the 1950s and supporting his wife and 8 children. Starting and running a nonprofit organization and a limited liability company have not been easy tasks for me, but reflecting on my grandfathers and what they endured without the education, access, or resources that have been afforded to me as an entrepreneur in 2022 keeps me motivated.
So, what about my grandmothers and the influence of black female owned businesses? Although my grandmothers served as tireless business partners to my grandfather’s businesses, they were rarely viewed as vice presidents or chief operating officers by clients but rather avid supporters and silent assistants. I grew up watching my grandmothers receiving money for their unmatched cosmetology and cooking skills but of course not under a corporate umbrella or above the table. So I knew as black women we had the talents and skills to be profitable, I just didn’t know how we were supposed to capitalize off of them within my family. Outside of the family thankfully, just right across the street, was my childcare provider and Pre-K teacher whom we affectionately called Mama Bertha. Mama Bertha ran her own successful childcare company for over 20 years from the den/remade garage in her home and this was not just a room where kids took naps. She had a curriculum that included bible study (I knew all of the books of the bible at 4), Spanish (I’m still not as good at it as I want to be), and dance (I did tap and ballet, might I add). I didn’t have the opportunity to ask her about the inner workings of her business before she passed away, but the evidence of the business acumen she had is proven in all of the college graduates whose formative education began right in her childcare center including six people including myself from my own family.
If I can make any suggestions or encourage you in any way as it relates to Black History, I would recommend these things:
Buy Black. What better way to support black owned businesses than to sow into them?
Learn a local Black History fact and share it with someone you know. Black History is much more than Rev. Dr. Martin Luther King Jr. and Harriet Tubman.
Have a conversation with a seasoned black person (70+) and ask them about their upbringing and experiences. We have to preserve history in order to share it and not repeat it.
“In recognizing the humanity of our fellow beings, we pay ourselves the highest tribute.” - Thurgood Marshall
The SAVVY STEWARD Blog
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The beginning of the year always gets everyone so excited. Excited to read the entire bible, excited to lose weight, excited to make new friends, excited to travel more, and of course, the most common excitement comes from the opportunity to improve your finances. Paying down debt, increasing your savings accounts, and balancing your budget are all different financial New Year resolutions that many people have set this year, last year, and probably for all the years to come. So, as we wrap the last hours of the month of January, this question lingers, how are your financial resolutions going?
According to Discover Happy Habits, after just 1 month, only 64% of people are still successful in keeping it. So if the entire US population made a New Year's resolution, by today, 151,570,000 people have quit. If the entire world made a New Year’s resolution 3,634,000,000 people have bowed out gracefully as of 12:01 am. On the upside, if the entire US population made a New Year’s resolution, by today, 210,880,000 people are still eating healthy, going to the gym, and drinking water. If the entire world made a New Year’s resolution, 5,056,000,000 people would be keeping their therapy appointments, journaling every day, and keeping in constant contact with their family members.
So which end of the spectrum are you on when it comes to your finances? Of course, if you’ve stopped, I’m going to tell you to pick your good habits back up and if you are still going strong, I’m going to tell you to keep up the good work. All resolutions will be difficult to implement without consistency and discipline, and it is a daily choice to keep the commitment you made to yourself. A willing mindset (not positive, or negative, but willing) is the key to sticking all of your New Year’s resolutions including the financial ones.
This year, my financial New Year’s resolutions are to increase my quarterly dividends to double digits, save at least one of my husband’s biweekly paychecks in a month, and pay off our Toyota. In one month, I am not ashamed to say I have not yet made a sizeable contribution to my Robinhood account yet but I did reinvest some dividends, my savings goal was $400 short, and I did not make a double payment on our vehicle. Why am I not sad, disappointed, or ready to give up? I’ve made progress! Progress is not perfection and that’s what makes it so great! I have made small steps to get closer to these overall goals and those 12 inches (it’s 12 inches in a foot, stay with me here, foot, steps, get it, great) in forward progression are still better than none any day.
So if your financial goals include increasing corporate revenue, retiring early, or investing in real estate keep taking steps. Even if you take a break (which is completely understandable), clock back in and get back to work. Financial goals are important for setting up your future and even the future of your family and those in your sphere of influence. All of these people are waiting on you to become an even better version of yourself and teach them how to become financial gurus too (yes this message is for me too!) Improvement of individual financial literacy is the foundation of the economic development of communities.
Final thought: Think of each dollar you save like an ab crunch. Ab crunches are common and easy to form like just four quarters, ten dimes, twenty nickels, or one hundred pennies. One ab crunch won’t get you an immediate six pack but you can guarantee every six pack started with an ab crunch. One dollar won’t magically turn into one million dollars but each dollar you save or invest gets you that much closer to seven digits. So pick those weights up and build those financial muscles, we’ve got 11 more months to go!
Check in with me on social media and let me know how your financial resolutions are going! Let’s crush these goals together!
The SAVVY STEWARD Blog
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LoSeEd stands for Love, Serve, and Educate. It’s a personal legacy that was left for me and one I hope to leave in the world.
So the first word, Love
John 15:12, We are commanded to love one another as Christ loves us and that's what we’re going to do.
We are patient, kind, and positive as we work with you to meet your financial goals.
The second word, Serve
Matthew 20: 25-28- We are commanded to serve one another as Christ served. We’ll even wash your feet if you need it.
We are committed to the highest quality of customer service with a familial purpose.
Lastly, Educate
Deuteronomy 31:7- Our foundational scripture. We are commanded to assist you in retrieving the inheritance God has for you, which means teaching you not only how to obtain it, but how to maintain it as well.
So what do we do?
LoSeEd provides premium financial and business consulting for personal money management, nonprofit organizations and small businesses. Whether it's banking, budgeting, or wealth building, we are sharing what we know to take you to your next level.