Highly Melanated Podcast
Hosted by PJ, Blair & Red A safe space for you to enjoy every bit of your melanin no matter how "melanated" you are in skin tone, we are ALL Highly Melanated.Come enjoy funny and dynamic conversations that people of color face on a day to day basis with various topics such as loving ourselves, knowing who we are as a people and uplifting each other with a mix of class and rachetness (CLATCHETNESS)
Highly Melanated Podcast
Stop Spending: Start Thriving! feat. Sha-Rhonda Wilson
Financial freedom is about facing uncomfortable truths and taking actionable steps to change your habits. In this episode, we share crucial insights about spending, saving, and investing wisely.
In the Highly Melanated Manor we have the pleasure to introduce a special guest, Sha-Rhonda Wilson, Lifestyle Coach & Business Consultant. to help with a few tips and on how to make your money work for you and not waste it away.
• How sales can sometimes lead to unnecessary spending
• The reality of relying on credit cards for emergencies
• Importance of building a solid emergency fund
• Reflecting on choices showcased through spending
• Discussing financial control and investment strategies
• The need for open conversations about money within communities
• Understanding the basics of strategic investing
• Budgeting as a key tool for financial security
Sha-Rhonda has worked with Terry Ellis of En Vogue with her perfume line. Southern Exposure and has worked as an Independent Contractor for Mano. Swartz Furs; a furrier company which has been in business for over 134 years. in Baltimore, Maryland! She coordinated the Baltimore, Maryland leg of a 25 City Book Tour for Dr. LaJoyce Brookshire - who wrote the novelization to Soul Food the movie and sold over 200 books at the premier city book tour. Sha-Rhonda was formerly the Executive Consultant to What About US!, a teen talk show on Baltimore Cable Access; a successful Event Planner with Pfizer Pharmaceuticals and a Development Associate with WEAA Radio Station in Baltimore, Maryland. Sha-Rhonda has also secured a radio show segment for Dr. Levi Harrison NPR Affiliate station WEAA 88.9FM called “The Art of Fitness.” Working with Artist and Vocal Percussionist Rahzel – a ‘Disciple’ of Hip Hop band The ROOTS, she has negotiated international business deals and traveled around the world with him as a Road Manager.
>> Sha-Rhonda Wilson's Contact Email Info Link <<
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I'm 54 and if you're younger than me, here's some really hard financial truths that are probably going to make you uncomfortable, but they just might save you. Your dream life is possible, but not with your current financial habits. If you need a payment plan to afford it, you can't afford it. You're not saving money when you buy something on sale. You still spent. You just spent less. If you don't control your money, someone else will, and guess what? They're not going to use it in your best interest. A credit card is not an emergency fund.
Speaker 1:If you don't take the time to understand money, you will spend your life working. For someone who does, financial stress is self-inflicted. You can't retire on vibes and optimism. You're going to have to work until you die if you don't start investing. Your bank account reflects your choices, not your excuses. You don't believe me? Take a look. Every dollar you spend is a vote for the life that you're building. What are you voting for? Security or poverty? You don't need a financial miracle. You need financial discipline. Stop praying for money and begin managing what you have. Your future is being sold off, one impulse purchase at a time, and you will never escape the cycle of being broke until you admit that you are the problem. Hope that helps.
Speaker 2:I don't know what it is, but I just love being black BJ here.
Speaker 3:What up doe? It's your girl, blair. You know, mel Melanin was popping yesterday, it's popping today and it's sure enough gonna be popping tomorrow.
Speaker 4:It's your boy, red, and you're listening to the Highly Melanated Podcast.
Speaker 2:Hey guys, hey guys, hey guys. Welcome back to another episode of Highly Melanated Podcast, the safe space where it is okay to watch what you say, but more so watch what you spend your money on. Ooh Message.
Speaker 3:Message Ooh.
Speaker 4:Message, message PJ is tired of waking up and realizing I spent too much money the day before and have to readjust for today. Red, you ain't getting one red cent from me on Friday.
Speaker 3:Red Blair Hot take. I get really excited when it's time to do my taxes.
Speaker 2:Blair, we know that right now, we're not going to be waiting to the last minute, right, blair? Oh, absolutely not.
Speaker 3:I had to request a duplicate copy of a W-2 today because it never came, and it was the last one that I needed, so now that I have it, I can start doing my taxes. She's so excited y'all I'm so excited. Let me clarify I'm not excited to give the government any money. I'm excited to A get a return and B to be able to do my taxes efficiently because I have an organized system.
Speaker 2:Me too. If y'all didn't know by now, blair's middle middle name is Efficiency Period. And, guys, we have a very special treat for you. We have an actual wonderful treat. It is our first guest of the year first guest of 2025 number one. We have a life style coach. She is also a business consultant and she let us know that she Professional bubble gum popper cracker. It's crack, crack, snapple, pop, pop rock snap crackle pop. What's your name, Emile? We have Sharonda Wilson on the call with us.
Speaker 3:Sharonda Wilson is a dynamic individual, a phenomenal turnkey specialist who marvels in the world of business negotiations, event marketing, international event planning, management of affluent entrepreneurs and sales consulting. She is an entrepreneur connoisseur with flair and pizzazz and astonishes all that have bear witness to deals and negotiations she's closed which were amicable for both parties. Sharonda has put together and created innovative business endeavors she has spearheaded. She is creative and versatile entrepreneur and entrepreneur. As a solid lifestyle coach and business consultant, she helps high-achieving clients create and maintain healthy and fulfilling lifestyles. Her strong college background and social development skills have given her a well-rounded perspective in diverse areas of business into many facets of the event marketing industry, and her outstanding personality only supersedes her ability to network and foster positive business relationships.
Speaker 5:Sharonda Say hello, sharonda. Yes, thank you. Wonderful melanated team of chocolate and bronze and caramel and all that great stuff. Love you guys.
Speaker 2:Love what you guys?
Speaker 5:have done to the universe for us.
Speaker 3:Yes.
Speaker 2:And also we have and we also have and we also have comment.
Speaker 3:The resident black ass cat.
Speaker 2:Oh my God, they even think of it like that. See the cat.
Speaker 5:He is adorable. Oh my God, I love animals. I take care of my brother's cat. His name is Claus. I'm going to send you guys a picture.
Speaker 3:He's so adorable, please do.
Speaker 5:We talk to each other. He lets me know when he wants water. I work for him.
Speaker 3:That's it, that talk to each other. He lets me know when he wants water.
Speaker 2:I work for him. That's how it goes. Since there are multiple cat people on this panel, I will keep my mouth shut, but I hope your souls are safe.
Speaker 4:My soul is safe. I'm still here.
Speaker 2:I was just playing. I was just playing. Y'all know I'm just jiving, y'all. Well, welcome back to another episode. Another week, y'all, it's been. Another week we are here, how's everybody doing, how's everybody's weeks have been.
Speaker 3:You know we're making it through. It's finally starting to warm up outside, which is nice. I hope that it's not like a false you know falsehood where I, but I would not be surprised with just the way that the weather works. I'm I'm I'm not going to speak it into existence, but I would not be surprised if that thing that happens when it gets cold outside and the humidity starts to change and like precipitation happens, happens one more time. But I'm glad that it is starting to get warmer.
Speaker 4:I think I think it's all a ruse, though I think this is like. I'm sorry, I just want to be truthful to you.
Speaker 3:I'm your friend sometimes I need you to lie to me. Sometimes I need you to lie to me just no, absolutely not, no, absolutely not. Sometimes I need you to lie to me just a little bit.
Speaker 2:No, uh-uh, uh-uh.
Speaker 3:Uh-uh, uh-uh, I need you to be, prepared.
Speaker 2:Today was 53 degrees.
Speaker 1:Exactly.
Speaker 2:And yesterday was 38 degrees. No, it was warmer yesterday.
Speaker 2:Well, I wouldn't know. Yesterday I really didn't go anywhere Like these past couple days days. I've actually been stuck in the house. I've actually um, today I had a major headache, but, um, I've actually have not done all the things I said I would do, such as the laundry that's been still piling up here that's ready for me to walk down four flights of stairs and to the corner, to the laundry mat. I still have not done it, but I still. I bought new socks, um, and this is what I mean about.
Speaker 2:You bought new socks to avoid doing laundry, and so this is this is one of the points about. I'm, you know, disappointed about how much money I spent yesterday because I ordered new socks, new underwear and a new t-shirt, just so I wouldn't have to wash what I already have, which is a bountiful amount of them.
Speaker 4:We just want to say that you just needed them Not because you didn't want to wash anything. Sharonda's taking notes so that way she can review on it later.
Speaker 3:She's making notes. She's a mental note. Make sure to scold PJ on this later.
Speaker 4:Never again this motherfucker.
Speaker 2:Sharonda, how was your week, my love?
Speaker 5:My week was amazing. Thanks for asking. Right now I'm playing big auntie to five kids, two dogs and a cat. Five kids. My brother has five children from age 17 to 27.
Speaker 2:Oh my, so you don't have. No, these aren't five kids.
Speaker 5:Oh, so these aren't children.
Speaker 2:These are young kids no. These are young adults.
Speaker 5:You know, young adults slash adults, you know, unfortunately, so you got to be a little more. You know, supportive.
Speaker 3:A little more hands-on, a little more attentive.
Speaker 5:I got you and everybody wants my attention and it's so lovely to know that the cat, the dog gets upset when I spend too much time with each other. I'm like, are you serious? The cat and the dog are jealous of my time.
Speaker 3:I'm a rock star. Are the kids in town visiting or are they local?
Speaker 5:I'm with them in Maryland.
Speaker 3:Copy Gotcha, we're in Maryland.
Speaker 5:Copy Gotcha, we're in Maryland. Yes, I'm sorry, we're in Maryland, baltimore.
Speaker 1:I used to live in Baltimore.
Speaker 2:Why Hold on Baltimore Baltimore?
Speaker 5:I lived in Bolton Hill. Me too, I used to live in Bolton Hill. Hey, neighbors, those beautiful limestone apartments that's there.
Speaker 3:Yes, I lived right off on Park Avenue.
Speaker 5:I was on Park Avenue, girl Park, and what I was on 816 Park Avenue. Actually, that was more like Mount Vernon 816. That's not too far. I was 1111 Park Avenue Actually, that's more like Mount Vernon, that's not too far.
Speaker 3:I was 1111.
Speaker 5:Park Avenue. We were neighbors.
Speaker 2:And see, this is Pause, before we even get into the episode. This is a prime example of what I was when I met this wonderful woman over here, sharonda, and this is an example of what I said to her. I said you know something? Because one day I was on my way downtown and I got on the dollar van bus and she got on and she was just like peace and blessings everyone, glorious Thursday everyone. I hope everybody has a fantastic day. And she was walking to her seat but like and I was already like, kind of like, but that energy woke me up and I just looked over and I said come on, energy, I see you, I thank you for that. And she said listen, because we gotta speak to each other. And that's what I was always saying like we always really do have to start speaking to each other because you never know how we're all connected in one way form or fashion.
Speaker 2:and she had just talked about how she did a spot on a podcast and I was like, really, I got a podcast Award winning, but you know, we would love to have you on what is it that you do? And then we got to talk and then boom, here she are. Now we know that both of them one day probably ran into each other at the is it a dude?
Speaker 3:don't don't, this is fine. What do they do at b-boy?
Speaker 2:yeah, what do they do at baltimore with the wretched? What do they do?
Speaker 3:with the wretched. We have big fun. We have big fun with the wretched okay, but yeah.
Speaker 2:So I'm just really really happy to um have you on and share your message of and we'll get into all of that in a moment, but yeah well, I mean, that makes me it's so funny that, um, we're so connected.
Speaker 4:Um, I want to do a question a week. It's one of the things that we do, um, just to see where everybody's mind is at. So, question a week, question a week your questions as they pertain to you prospectively and introspectively, um, so I just want to ask you guys, just based on like how you I am talking into it. No, there's like an echo. Yeah, is it connected? Yeah, it's gonna.
Speaker 3:No, there's like an echo.
Speaker 2:Yeah, is it connected? Yeah, it's going to Ladies and gentlemen, please hold as he.
Speaker 4:All right, and we do it again. How's it feel now?
Speaker 3:Welcome back to the podcast Wait, hold on a second.
Speaker 4:This entire time you didn't say anything to me. This is teamwork.
Speaker 3:You weren't talking long enough in one long span.
Speaker 4:Anyway, thank you, we will start over again. So I just want to ask a question a week. So question a week your questions as they pertain to you prospectively and introspectively. So we're all connected in some shape or form or fashion as Black people, as the human race. But I guess, with everything that's going on, I kind of just had a question for you, sharonda being with all of this stuff that's happening and, I guess, politics right now, where do you think is the best place for Black people to put their investment in? You think is the best place for Black people to put their investment in? It could be a business, it could be a service. What does that look like? And I'm curious to hear what you guys also think about like where do you put your? Where are you putting your?
Speaker 5:Black dollars in? Yeah, that's an amazing question I always start with and I had sent this to PJ before you could even talk about investments. You need to have and put someone in control of what you do, because, God forbid, if you can't make a financial or a health decision, guess what? That money means nothing. So we have to really start there. Do you have a healthcare proxy in place? Do you actually have someone's power of attorney that if something happens to you financially, who can move your money, make decisions before you can even talk about, or trusting someone to invest? Number one and then number two you never go wrong with gold, you never go wrong with silver and dealing with commodity. Commodities trade seven days a week. Fortune 500, S&P 500, they trade five days a week.
Speaker 5:So I always advise learning about commodities, oil, investing in those things corn, tobacco it's a slow process of investing, but if you're thinking about long term investing, so let me clarify that Immediate investing. If you know someone that has a business and they need some financial assistance, you being an angel investor, and say, hey, I'm successful, I need some rolling capital coming in, can I be 40% owner of your company? I just talked to one of my clients about this today. I said you need help. You got to give a 40%. You make about $200, $200,000 a year. You got to give someone 40% of that so you could stay afloat and continue to do that.
Speaker 4:So I would say that I'm sorry, no, I was just going to say that's interesting, because the whole reason why I was thinking about like just uh, I guess, where people are investing their money or like where people should like put their black dollars, because everything that's going on, but I don't, I don't know if people normally think about it like that, you know, like because, like, when I'm thinking about how we need to invest in black-owned businesses and make sure that you, you know we're supporting each other, I'm thinking about how can I get somebody to know about a particular product, like I have, like one of my frat brothers who you know he has a business.
Speaker 4:I have a couple of frat brothers who have businesses and you go, well, I want to support them. So you do like a post here and a post there, and you know we think like, like we did our job or if we bought like one piece of product or whatever like, and that's that's not necessarily enough. Like Blair PJ, I don't know if, like you, have anybody in particular that you know you, you say that you want to support or things that you think that are important for us these days.
Speaker 2:Um, I I want to well, number one support our local businesses, support the people that are in our communities, even if they're not in our direct local communities. We live here in Brooklyn, you live in the Bronx, Blair lives in Brooklyn. Sharonda is between Maryland and Brooklyn. Um, there's, uh, it's a lot of space in there and I think that there's a lot of companies that just started, a lot of food places, a lot of, um, no, no matter what restaurants, um people who are selling whatever it is, people who are selling candles or whatever they are. You know, they just got there. Even the people that you see outside panhandling to an extent, I think, uh, with their, with their uh tables, because they haven't gotten where they need to go yet, and maybe this is their foundation so they can get their money together.
Speaker 2:Um, I like to support us, but I wanted to take a step back first, uh, to answer your, your question of the week. Um, I would rather um worry about where I'm investing my money forward, but, like worry about where I'm spending my money. More so, like an example, like I was just saying, not too long ago, I realized that I was paying double for hulu. I was paying double for amazon's. I'm paying for amazon prime and then like three amazon prime video accounts that did no existed I don't know why.
Speaker 2:That sounds crazy to me and even on top of that adobe, for, like all the podcasts and everything, I'm paying for all these other other parts of Adobe that I don't even physically use presently. I'm not using Photoshop, I'm not. I'm using Premiere, but I'm not using all these other different things, and I'm paying for them monthly, and one of them is annually and it just came on my account just two days ago.
Speaker 4:And I'm like, what Side note. I just want to describe Blair's face because she's like listening to you and listening to all the ways. And she's like ripping out chunks of her hair Like how could you?
Speaker 3:pay for five Paramount Plus Every time I see those commercials for that one company that based Rocket Rocket.
Speaker 2:Rocket Money.
Speaker 3:Which just charged me. No, we're not.
Speaker 2:They don't sponsor us. No, they don't, because they also just charged me and I never signed up for them. So like how do you even have access?
Speaker 3:and I know.
Speaker 2:I know I never I downloaded the app. I did because I went to see it, that was your free trial when I downloaded the app, I went through it and I didn't like sign up, put my name in, or I said. I said no, I'm not interested, and I took the app off of my phone. But now I'm getting being hit with fees, so you said yes.
Speaker 3:Somewhere there you said yes. So where in the fine print they said if you download this app, would you like to give us a? Million dollars 34.95 they will get you. But yes, every time I see those commercials and they're just like oh, I didn't know I had like 10 subscriptions to the same thing. I'm like how did you not know? I don't understand. But this is also coming from somebody who goes over their finances with a fine, the finest of toothed combs, Come on toothed.
Speaker 3:Toothed. So I know it's been a while since we've had a guest and we're so excited to have you here with us today and, you know, be able to give the listening audience some, some insight and some perspective on something that everybody should be paying attention to. So I'm glad I have another advocate on the line with us. Guys know how anal I am about money and finances and knowing where every last red cent of your dollars are and investing, and you know all of budgeting and all of these things that are near and dear to my heart, so I'm so glad that we have a certified expert on the line with us. So, just to start us off, if you can just tell us a little bit about just how you even got started in this world of you know financial education and mentorship and you know with your business like, how did what? What got you started in this? In?
Speaker 5:this Great question. What got me started is I knew I didn't want to spend three, five, 10 years working for somebody. But I've always heard that you need a retirement plan. So you're always taught get that city job, get that state government job, so you get the benefits and you get retirement. Well, I don't want to do that. I don't want to give somebody that much time in years of my life. So what do I do? And I was just telling someone today I was living in la and a makeup artist and I. We were sitting down talking and we was like you don't have no retirement plans or nothing you do. No, I don't either. I said I'm gonna figure it out and when I figure it out I'm gonna let you know. So I began to just do research, meet the right people you know youtube, university webcast and I said, okay, I just gotta take a test and then I could be licensed to do this and that that's it. Get a 70. I'll do that.
Speaker 5:So here we are today and again, it's the little things we don't know as entrepreneurs that we can do and fund our own retirement plans, fund our own loans and our own businesses. People want to charge you eight hundred dollars for this information and we should have learned this in school. Our accountants, our cpas people know this information. I just got tired of people just trying to hide it and I'm like that's it. And you want me to pay you eight hundred dollars for that? No, I, I'm going to figure it out. Make it cheaper, make it free, not even cheaper free.
Speaker 5:Let me coach you. Let's do this. Let me be committed to plan your financial lifestyle and live the life that you want. If you don't want to work a nine to five, I got you. This is what you're going to need to do. This is the plan from A to Z. I love typing. I'm a Virgo, so I'm very anal and I can outline to the zero and whatever needs to be done, so it's comprehensive and that you can take it and spin it off. So, in a nutshell, I just needed to figure it out because I did not want to work for anybody. So I said I got to figure out this whole financial game plan. So here we are today.
Speaker 3:Love it, love it, love it. And you know something that you said you did the research on your own. You know you took advantage of, like the tools that were available to you, and I think that's one of the things, especially like people in general, but especially black people, we are not always aware of what tools and resources we have access to. Just like you said, youtube, university, youtube is free and there's so much that you can learn. And then, just also like this is part of the reason, like why we do this podcast is to be able to just bring additional resources to people so that way their interests can get piqued and they can then, you know, listen to this and go off and do like the research on their own.
Speaker 3:And you know you said your motivation was like you didn't want to have to work for anybody for the rest of your life, and I'm sure there's plenty of people that also feel that way, myself included. But a lot of times, like, we don't necessarily have the knowledge of where to start, and so that's why it's so important having you here with us today, because I think a lot of times, we get motivated by seeing what other people have done and what other people who look like us have done, and that really is like a determining factor in whether or not somebody takes things into their own power. So love that.
Speaker 2:And thank you.
Speaker 5:Thank you. Thank you, blair, because again it's it. Again, it's not difficult, it's just knowing the system, writing it out, hearing it, and it's like, let's do it. If you don't want to do it, fine, if not, you can move on. I was talking to one of my business partners and I said are you interested in learning what I do and I can help you in your business? He said no, I got off the phone. Well, we was on Zoom. Okay, thank you for your time. Why are you here then? I totally understand, if you know someone, refer them to us and you have a wonderful evening, goodbye, and maybe then that's what sometimes it's just about.
Speaker 5:I'm not wasting my time.
Speaker 2:And I think that's a big part of it. I'm sorry before you go, chris, I think that's a big part of it.
Speaker 4:No, no, it's okay.
Speaker 2:Time is money, and the more time you waste with other people, the more. And not to say that you could be making more money elsewhere, but you can be putting what gifts and what skills and what things that you know, what knowledge that you have somewhere else is going to be lucrative not for just the person that you're you're communicating with, but also for yourself. Like we are, we are all in a capitalist society, so to speak. So how can we move forward and make money and how can we help each other do that? I one of the reasons why I really wanted this to be, um, that I'm so glad this is like one of the top episodes of the year, so let's start the year off right as far as how can we improve our wallets, and from ourselves individually as well as those collectively around us. Go ahead, chris. I'm sorry.
Speaker 4:No, I was just going to say what do you think is, what do you think is when you're dealing with people and you're telling them and giving them suggestions about their, their business and in guiding them, because all that information is out there, right, we can all agree like we can at any given time. We can go into google, we can be like I want to know this and we can go and find it. What do you? What is the most surprising thing that you about people that you talk to when it comes to finding industry, finding information and anything that's necessary to get them going? Because I think it's, it's, it's. It's always so interesting. People say I don't know. But is it? I don't know? Or they just don't want to know, or they don't want to actually put forth the effort with, like, what is the most surprising thing that you see talking to people?
Speaker 5:It's a combination of both you. Finances has always been a sensitive topic in our community how much you make, whatever, so that's always the whisper right. So it's a combination like why are you in my business? I'm in your business, just to you. I don't care what you do with your money honestly and how much you make. I just want to assist you because I have the knowledge that I didn't know at one time. So, hey, I'm here to assist. Secondly, you don't want to make it look like you don't know, especially if you're in the banking industry and I thought I was the woman because I know this body and I know this and I was at this celebrity's house and I did that. So I'm in the mix. I know nothing about no money. So I'm mixing and mingling in all these different wonderful places. You know hanging hamptons, but it's definitely healed. My people got money. So I'm like you know, on that flex, to be honest, and I was like, well, it's not adding up into my bank account. So I gotta regroup and figure this out. So if I don't know, it's okay, but let's, let's help each other and let me again, let me figure this out.
Speaker 5:A lot of people again don't want to be told what to do. They said they want the coaching, but they asked about well, what are your credentials? What do you do? I said, well, I have a lot of both, but what I want to speak to another caveat to this and blair spoke about it too is the taxes. A lot of times that's the game changer. You gotta understand your taxes. That's where most of the money goes, unfortunately, especially if you're in new york or uk. City state is bad.
Speaker 3:So, man, look, I don't. As somebody who moved here from outside of new york, I don't appreciate. I don't appreciate it. Okay, I don't, because I was used to paying federal and state, and now you want to charge me for my borough too.
Speaker 4:Y'all doing a lot it's a lot of money. It's a lot of money.
Speaker 5:I had a client. She thought she was making 125 000, she was paying 48 in taxes 48 and she didn't realize until I took her pace up and broke it down to her.
Speaker 4:That's what the average person pays.
Speaker 5:The average person pays 35 to 48% in taxes because there's only about eight or nine tax write-offs for employees. There's over 500 tax write-offs for business owners.
Speaker 4:No so but see, what is catching me off guard right now is how did you not know? Because I know at the end of the year I always be all like, well, let me see what my net is, because that's what actually goes into my account. You know what I mean?
Speaker 3:I actually look at that, I know she's looking at it like I know I made money. Where did it all go?
Speaker 2:Exactly? Where is the first step that people, in your opinion or your knowledge, where is the first step that people should go to number one, really be able to accumulate, or to know what they're accumulating after post-tax, pre-tax, and what they're spending on a day? How would you go about assisting someone who just came up to you and said hey, I would like to know how to move forward. I want to purchase a house within the next couple of years. What?
Speaker 5:should I do I say let's go over your monthly expenses. I email your monthly budget worksheet. Let's talk. Secondly, I asked do you mind this is confidential because I can't spread your information around Can I look at your pay stub so I can share with you how much tax you are spending, so you can actually make an adjustment Because you're probably not at the right tax percentage that you should pay? You can direct the IRS to say I'm in this tax bracket, I only want to pay 27% in taxes. You have to fill out the forms. They only taking out 20%, 27%. But what that means is you don't get a return because you're keeping most of your money up front, right? Yep, so that's what I do. Let's do your monthly budget. Here's a PDF of it.
Speaker 5:Secondly, let's sit down, let's look at your pay stuff and let's see how much was taken out of taxes. And this is what we have to change and get someone as a tax strategist that's going to help you pay less tax. So this is what I say there's a bookkeeper, there's a tax preparer, there's an accountant, there's a CPA and then there's a tax strategist. That's the only person that assists you and pays less taxes. All these other people only thing they do is just filing. The caveat to that is we know who's in office. Now what he did honestly was legal, because his people know the tax law.
Speaker 2:Okay, so I work for myself and I left corporate America and I've worked a very long time. I built up my social security, so to speak, air quotations, um, and you know, since then I am now like a 1099 type of employee, also like a person that I just started. My. My business, my llc, was founded a year and actually friday makes a full year that it's actually been up and running so now I qualify for grants and things of that nature, which I didn't when I first started it okay my first question is for, especially for someone like myself as well.
Speaker 2:As you know, we got another person. We got someone who has a production company. It's called hey Girl, hey Productions. I'm pretty sure that you can tell it's not myself, nor Chris. Now wait a damn minute. But you know like what in from your to give your financial advice. What would be the best way to begin now starting to save up for not just your retirement, but just how you're living your life, moving forward, since you're not getting a steady paycheck from you. Know where we're basically, invoice to invoice.
Speaker 5:Again, the first thing is honestly knowing your monthly expenses. Once you know that number, we need to then prepare for an emergency and then become pandemic proof. So my suggestion for an emergency you want to save $2,000 cash in a checking account where you can have access to it, like this, or in a safe, fireproof and waterproof safe in your home, which I do owe. That's what all the monies are and paper. So, god forbid, if something happens, I know it's there when I get back home. So that would be the first step knowing, knowing your budget, saving for an emergency and then setting up to become, I want to say, pandemic proof that you actually have three months to 90 days of your monthly expenses saved up to work to that ultimate goal. Start at 90 days, then we go for four months, five months, six months, but the goal is to get to at least have two years of that money that you don't even touch. God forbid another pandemic.
Speaker 5:Something else happened. That's what I would suggest, in that particular order, because we know, as entrepreneurs, the money, money's good, the contract is on, something happens, you know, I don't. I don't say say 10 of everything that you do, because it's I don't feel it's really natural realistic. But if you say I'm going to save $2,000, you're going to make sure you get to that $2,000. That's what I want to be just realistic with everyone in regards to that.
Speaker 3:So I personally feel like a lot of what we end up learning and doing with our finances is an absurd behavior. I don't think any one of us like just like wakes up one day and has the answers to everything and then we're all following some type of template, we're all following some sort of example. I think that there's kind of a divide between people who are more hands-on with it and people who are more like I'm going to set it up and let somebody else kind of run it, kind of thing. But at the end of the day, especially as entrepreneurs who don't have, like the traditional, you know, nine to five W-2 kind of income, so much of the knowledge that we get is learned from other people. But that's also a callback to exactly what you were saying before in the fact that people don't want to talk about their finances for a multitude of reasons.
Speaker 3:And I get it Like most of us, you know, grew up with the experience that talking about money is very taboo and you shouldn't talk about money. But that's exactly the problem and that's why we, especially Black people, tend to be kind of pigeonholed in just one particular, you know like group. So my question is what are the kind of things that you would say to somebody? To A encourage them to be more open about what they're doing with their finances. B be more receptive to receiving information about what to do with their finances. And then, just in general, how do we make the conversation surrounding money more palatable?
Speaker 5:I would say Blair, I say you know, and you can hear that my voice, I'm very engaging. I say listen, I know this may be a little uncomfortable for you You've never had this kind of conversation and most likely say yes or no and I say OK, I'm here to help, I'm here to support you. I learned this. I didn't know this either. I'm here just to spread information. Will you allow me to coach and assist you? Give me 90 days. The faster you do this, the better you will see, not only for your immediate life but for your friends and family. Allow me to assist you and usually when they see that the sincerity I'm in, it's not a rush conversation, it's not about, oh, I have this, I know this person can do this and you could pay them money. You know it's not. No, I have this, I know this person can do this and you could pay them money. You know it's not. No, tell me what you want. Let's sit down, map it out, make a game plan, and I got you.
Speaker 2:You know what I find. I find it's been in my experience, especially when you talk to people about money. You know money is such a personal thing that a lot of people are embarrassed to talk about the truth, and so a lot of people are living.
Speaker 2:You know they're, they're faking the funk, they're, they're living a life beyond their means, just so they can air quotations, fit in with society or fit in with their friends, who are actually doing the exact same thing that you're doing. Because we are all trying to, we are all struggling in one way, form or fashion. Um, because, uh, forgive me, I don't, I don't, I don't know the actual number itself, but let's just say a good above 70 percent of americans are two paychecks away from poverty, so to speak. If you're not in that one percent, 2% or whatever, have you so like I know that you've. Here's one thing I do enjoy about you, and I get these messages from you every single day, or when you do send them, and there are some, some great, great tools here, and I've so wanted. I wanted to really touch on really quickly as Blair toss, toss her hair.
Speaker 3:I just try to put my blanket on in peace.
Speaker 2:But it's seven timeless rules about money and one was, and the one that stood out to me was you need to develop a money mindset. Can you explain that?
Speaker 5:The money. Mindset is always putting yourself and knowing that you are asking, you're praying and you're working to have abundance and have money. Not just talk about what you don't have. Let's get to what we want and create that lifestyle so we can have it. I've caused so much crazy stuff that people told me was impossible and it happened. You know. I'm just going to bring it back to one day in school, when I was in college, I didn't have money to go to summer school, but I said I was going. I didn't have money to go to summer school, but I said I was going. I didn't have a penny. I went to Nassau Community College and I said I need to go to school. Do you have money? No, can you guys help? The man pulled up my financial aid. He said oh, you do have money from the semester that you didn't use. We could apply for you to go to summer school.
Speaker 3:I think that's one of the biggest things is a lot of times and I, in addition to everything, I think our listeners also know that I do work in fundraising for higher ed and I've done that since I was in college and the mindset that we've always been taught and that I work by is the worst thing somebody can do is say no and you'll never know until you ask. And that's kind of like the philosophy that I use when I'm approaching corporations and individuals and foundations and asking them for a financial contribution to the college. You have to go into it and ask, because you don't know the lay of the land until you actually ask and you can't assume either. So that's and that's a prime example you know you went in there and you asked what's possible and all of a sudden, look at that you have money for summer school. Look at God, won't he do it?
Speaker 4:Can I just add to because I want to touch on a point. So, and then this will lead up to a question for you, sharonda. But I think also that one thing that'll help out people with their finances we talk about like talking about it like people are uncomfortable with it, but maybe talking about it as often as you possibly can. I think a lot of people think that you go to a class or you go to a seminar and then you picked with you know, whether it be any type of funding that I put to the side, savings or whatever I'll, I'll pick up. I could, I could have you, sharonda, pull to the side and you could tell me everything that I need to do. But you know what? I probably picked up on it 10%, because my mind, my capacity is sometimes is just not that good.
Speaker 4:All of us are like that, especially if we're working full jobs and we got other worries and other things that go on.
Speaker 4:And what I find myself doing oftentimes is that I'll go back to, let's just say, a fund that I have or savings, and I go, oh, but I could tweak this and I could do that and I raise the percentage on this and I did this and what happens is I've gotten a little, you know, a little bit further. I've saved a little bit more because I'm becoming smarter about it. It's becoming ingrained in my livelihood. So, sharonda, what I want to ask you is is there a lot like how a habit it is 30 days to break a habit? A lot like how a habit it is 30 days to break a habit? Is there a timeframe that you want to tell our listeners out there for that they should be looking for, for them to start making some noticeable changes and differences? I know that it's not cookie cutter, I know that it's not the same for everybody, but I think sometimes if you give them a general idea, then you might people won't fall off the bat, off the wagon, so to speak.
Speaker 5:I see 60 to 90 days to be fair. If they want to be aggressive about it, which I love, I'm for talking every day until you feel comfortable as well too. Sometimes you need that coach, that conversation, the text messages I send out, just talking about the lifestyle and what you can create. Think about more as well. Our conditioning is crazy in reference to going to school, learning seven, eight subjects, but then when you want to make money, seven, eight of different ways you're taught to. That's too much. But I was in school taking eight courses a day for five days a week. But now when I want to do that to make money, you tell me to slow down.
Speaker 5:But now, when I want to do that to make money. You tell me to slow down. So I kind of put things in a different perspective for people as well and say let's kind of work and change our thinking that it's OK that you don't know, because I didn't know either. You don't know what you don't know yeah.
Speaker 5:And let's just take our time to do it the faster you want to do things. Just take our time to do it the faster you want to do things. I have a client. She's been paying me for three months and I have to force to meet her to make sure that I don't want her to keep paying me because she's not listening, you know. So I'm like I'm coming to your home, coming to your job this week. What time can I be there?
Speaker 4:Yeah, I just, I just, you know, I just asked about the timeframe because I think a lot of people just don't see it Like, especially in today's society where everything is is very microwavable, everything is just popcorn. I got to get that response. I got to get that, that uh, some type of um result right then. And there I mean I posted it the other day on my Instagram. I said I hate patience, why can't I just have it now? Now, part of that is me kidding, but part of that is also me fighting that the generation that I've been born into, where it's just all like why can't I have it now? Meanwhile, you had mama or papa that did stuff for 50 years before they saw any type of ROIs. And they were, they were fine.
Speaker 2:And I'm not saying that the times and finances aren't different, but you know, you know I mean the patience is different quickly to help people, or what's the first thing that people can do to learn their, for them to have a better relationship with?
Speaker 5:money so they can improve themselves. Really look at their paycheck, look at that gross, look at that net, because we don't see paychecks as much as we used to because of direct deposit.
Speaker 3:Unless you're OCD like me.
Speaker 5:We need to see what the numbers are so that we could make a plan to do things differently. Right, we got to know the numbers. We got to be able to see that to say, okay, this is my net. They took out four hundred dollars or five hundred dollars each week for taxes, all this other stuff, what I have now. How could I make the most of it? There are certain formulas they say my dad taught me for you to be okay financially, that one check that you get it needs to be able to pay your rent. If that one check doesn't pay your rent, you're always going to be in trouble. That's what he taught me and I was like, really, as I got older, he was right If that one check cannot pay your rent, you're usually spiraling down.
Speaker 3:Well, I think that's just another really important point when we're talking about finances, and it's so important to make sure that you educate yourself financially. But if you have children or you have, you know, a generation that looks up to you, you know, in any capacity it's so important to teach healthy financial habits to our kids and to the next generation and, honestly, that's what I attribute a lot of my financial know-how to is just the access that my parents gave me. I think I've mentioned before on the podcast that when I was a preteen, my parents had my brother and I in a investment club for black kids.
Speaker 5:You know so we reminded me I had a Christmas club account.
Speaker 3:We learned. We learned about. You know what investment was and what CDs were and you know a Roth IRA like we. We, we got exposed to that information early on and I will say that, like when we were going through it, I couldn't make sense of it, Like I didn't really understand, like what it was that I was learning, but it was more so the fact that I was exposed to it. So that way, at this big adult age, this isn't the first time that I'm hearing about this stuff, so it's not as overwhelming as it potentially could be.
Speaker 3:My dad well, my grandmother on my father's side passed away.
Speaker 3:She left all of his grandkids money and my dad sat me and my brothers down and said look, I'm taking this money that your grandmother left you and I'm putting it in an investment account and it's going to stay in there until you're 18. When you're 18, you'll have access to it. But I highly suggest you don't touch it, you leave it alone and you let it continue to accrue finances. I still have that account to this day. I have not touched it and I don't plan to touch it unless I have to Eventually, like my, my grand plan would be to be able to pass a large portion of that down to my niece so that way she has financial success early in life, so we can set her up for success. And so I think that that's so important in the role that you do, in the role that all of us do, is just being able to educate ourselves and educate the next generation and get everybody just comfortable with finances and talking about everything related to it, with finances and talking about everything related to it.
Speaker 4:So, Sharonda, there's so much stuff that's like involved with this. Where do we, where do we go from here? Like if you had to, if it was like the last final thing that you could possibly do before somebody made that, that one wrong decision, or the thing that they needed to do, and you needed to pull them to the side right now. What would you say to them?
Speaker 5:You know. I mean, like you said, and I'm gonna say it again, you gotta know what your monthly living expenses are, not the Netflix, not the Hulu, rent gas, all the necessities, what is that number? And make sure you have income to cover those things. First, cell phone, whatsapp we can talk on computers. Now we can alleviate that bill as well. That's another conversation. A higher level of savings but you got to know the numbers, that you are, where you are, so that you can get yourself into that place. And then the next thing if you have credit card debt which many people do how to lower your interest rate so you can pay that off quickly and then move to the next stage of saving and planning that $2,000. And then that three to six months nest egg up. I call it the pandemic food plan.
Speaker 3:Because the pandemic took a lot of us out.
Speaker 4:So it's a two-step process. I'm going to paraphrase for everybody out there. So step one know your shit. Step two get rid of that credit card, right, and that is your pandemic proof plan. Okay, final words, save in 2000 for an emergency.
Speaker 5:Save in 2000 minimum for emergency. Emergency, that money doesn't exist. It's only for an emergency. An emergency is got a flat tire. Oh my gosh. Got a root canal. Not, oh my gosh. My sister needs $200. Her phone is going to be cut off.
Speaker 3:That's not an emergency at least not your emergency.
Speaker 4:That's not your emergency. I was about to say that. So, step one know your shit. Step two get rid of the credit card. Step three make sure that you have $2,000 that you have to decide for emergencies. This is the pandemic proof plan by Sharonda, number one Wilsononda number one, Wilson, the number one center.
Speaker 3:Why, why, why, why?
Speaker 2:why? Why? Why, all right, before we go, where can, where can, where can all of our listeners if anybody wants to reach out to you? Because here it's also not just about like expanding our network, but expanding yours as well. How can we help your business grow?
Speaker 4:how can they find you?
Speaker 2:how can they find you?
Speaker 5:yes, um, my website is stellar lifestyle dot net, because that's the goal want everyone to have a stellar lifestyle. And then my email is info at stellar lifestyle dot net come on, speak it stellar okay, oh my god, thank you so much for coming on today.
Speaker 2:It's been a time we've been. I hope to have you on again and hopefully this time we'll have a little bit more time. I know this today was a little condensed and we're both all. We're all doing a bunch of different things, but I'm just grateful that you've we connected the way we did and we're going to continue this relationship. You are now, as we've always said to all of our previous guests, welcome to. Now. We're on the sixth floor of our mansion. It's growing, it's growing.
Speaker 3:Oh shoot, we done, moved on up.
Speaker 2:Okay, of the highly melanated man, we got the wings and everything. Take your key. You have a wing that is dedicated to you. You are a full-fledged new member of the highly.
Speaker 4:The pool is out in the back.
Speaker 2:The highly melanated family. Please watch what you do in the pool, because sometimes he goes in there and we don't know if he's peeing in the pool or not.
Speaker 5:But who's he? I'm sorry, CJ. Sorry CJ, you don't even know what you just said. My brother lives in a mansion and I'm in a corner suite chilling here in Maryland. Okay.
Speaker 4:Look at that.
Speaker 2:We are watching the corner suite right now people.
Speaker 1:Period. Thank you again for taking the time.
Speaker 2:For everybody. Thank you for taking the time to listen to another episode of Highly Motherfucking Melanated.
Speaker 5:Capital M and then F.
Speaker 2:The safe space where it is okay to take your finances seriously. Okay.
Speaker 4:And be interstellar, be stellar.
Speaker 3:Stellar finances Okay.
Speaker 2:All of Sharana's information will obviously be in the descriptive notes down below when you take a listen and make sure that you send an email. Send a carrier pigeon, send something send a smoke signal. Just let her know that she's awesome and she's welcome here at the Highly Millennial Family, as we all tell everybody.
Speaker 4:Sharonda Number one how do you feel?
Speaker 5:Peace, love and Sharonda number one.
Speaker 1:Wilson peace, love and thank you guys.
Speaker 5:You were amazing. Thank you so much for having me. I'm so, so grateful.
Speaker 2:I give thanks for you guys energy thank you so much, so good to have you yes, yes, yes, well, as we are about to close, as we always do peace, love and still a lifestyle. I'm sorry, I'm stuck on that you are paid by how hard you are to replace understand that, not by how hard you work.
Speaker 3:So make sure that you're spending money all right, okay, you are putting, you're investing in yourself because, look, people are working too hard for too little. All right, amen, all right, yes, love it. Love it, bye.