Why Adopting This Simple Money Mindset Could Change Your Life

Photo: Smith House Photography

“Did I really just do that?”

That was my immediate thought after hiring my first business coach a little more than a year ago. It was the most money that I’ve ever spent on myself—$7,000 to be exact—and honestly, the most money I had spent on anything in my life.

Putting that amount down was scary beyond belief. I thought I was crazy, but I was also done playing small. I was done thinking that I or my vision wasn’t worth it. I was done having a money mindset that dollar bills were scarce and hard to earn.

And I knew deep down that to get a return, I would need to invest. In myself. Pretty big jump considering that at the time I felt hesitant to spend $35 on a workshop. But this is what I realized: money is meant to be in a healthy cycle of giving and receiving, making and spending.

If one part of that cycle is blocked, like when you try not to spend money at all or don't ask for what you're worth, the whole cycle gets thrown off and creates a clogged financial situation that feels strained and uncertain. Maybe you’re good at spending money, but if you feel guilty about it, it blocks the flow just as much. Spending and investing your money should feel good. 

So here’s a thought that can turn things around…

"There's always more where that came from."

This mindset reminds me that whatever I spend or invest comes back to me in some way. If I end up paying more on a dinner bill split among friends, I’m convinced it'll come back to me in some way. If I invest in an online course, I believe a return will come back to me in some way.

But without some sort of initial investment, there can’t be a return. And if all or most of your money is going towards rent, food, and Ubers, with little to no personal development expenses, you’re missing out on one of the biggest ways you can change your life. 

As a life and business coach, I've worked with dozens of women who, at first, had a strong resistance to spending money on themselves, and here’s what one of them has to say about this:

“Working with my coach has confirmed that I am worth investing in financially, emotionally, and spiritually. I’m worth that investment, and because I’ve decided that I’m worth it, I’m reaping the benefits, and that investment is being returned to me in the form of clients, improved relationships, and a better version of myself.”

So, if spending money on yourself feels selfish or indulgent, ask yourself these questions: 

1. Are the financial decisions I’m making right now leading towards the most fulfilled version of myself? 

2. Are they helping me reach my biggest goals and dreams?

3. Are they amplifying my impact in the world along with my quality of life?

If you answered no to some or all of these questions, what could you invest in to help you grow and develop financially, emotionally, or physically? Maybe it’s by investing in the online therapy you’ve been thinking of, your own business coach, or a personal trainer that you’ve been dying to work with. 

If at least a portion of your disposable income goes towards those types of expenses, then you’re bound to have a more fulfilling life. So don’t hold yourself back by not investing in the things that’ll help you grow.

It’s not self-indulgence. It’s self-investment, which is arguably the best expense on your bank statement.

About the Author: Kimberly Lucht is a life and business coach who helps female entrepreneurs make their dream business a reality. Degree-trained in psychology, Kimberly has previously directed and grown start-ups that help women blast through limitations and go after their dreams. As a life coach now, she has helped dozens of women massively increase their income, productivity, and overall fulfillment in life through in-person workshops, online programs, and one-on-one coaching. Kimberly has been featured in Money.com, Thrive Global, along with a variety of other media outlets and she currently lives in New York City.

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This story was originally published on September 13, 2019, and has since been updated.

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5 Signs You're Not Being Paid What You're Worth

Photo: Christina Jones Photography

Make no mistake, trying to figure out how your salary stacks up against others in your field is a challenge. The unavoidable fact is: people get cagey when it comes to talking money. (Personally, I believe that being more open about these things will only help us close the pay gap, but that's an article for another day.) 

If you suspect you're being underpaid, getting a free salary report from Comparably or PayScale and scouring Glassdoor is a great start. But that's all it is—a start. To figure out whether you're being underpaid, you need to pay attention to the signs. Or, as career expert, bestselling author, and former editor-in-chief of Cosmopolitan (oh, and four other magazines), Kate White says, "You need to be a mercenary for information."

Here are the top five signs you're not getting paid what you deserve.

1. You Never Negotiated Your Pay 

I know this is difficult to hear because a large percentage of women don’t. But accepting this fact is the first step. "That's your first clue," says White. "It's a sign that you probably are being underpaid because often if you don't negotiate, you're leaving money on the table." Now, if you didn't negotiate, all is not lost! Make a commitment to yourself to never take a job without negotiating again. 

2. You’re Doing More, But Not Being Paid More 

This one might sound obvious, but employees let it slide all too often. Just recently a friend's workload was effectively doubled without a plan for a salary increase or title change. When she went to her manager to make a case for a salary bump, he threatened to simply take away her increased responsibility. Don't fall for this. If you're doing significantly more than the role you were hired to do, you deserve appropriately increased compensation. And if you can't get it at your current company, go get it elsewhere. 

3. It’s Been Two or More Years Since You Got a Raise

"Here's the problem: the market rate increases faster than the rate within a company where people may be getting 3% raises," says White. "I saw it happen to people who worked for me at different times, and as the boss, you felt bad, but often the company tied your hands.” 

“When the new person was coming in and was able to negotiate for a certain salary, sometimes it was better than people on the same level,” she explains. “But again, a company won't necessarily let you say, ‘Hey if I bring this person in at X, I hate the fact that this other person is only making Y.’ So if you've been at a company for awhile, you can practically bank on the fact that you are not doing as well as people coming in from the outside."

4. You Find Out the Salary of Someone in a Comparable Position  

This is less a "sign" than a fact, but it's worth mentioning. Again, talking to people about salaries can be tough, but there are ways to get the information you need. 

"You could ask a mentor or someone who used to work at your company and has since moved on," says White. "And maybe you could say it in a bit of a cheeky way, like 'If I told you my salary, what amount would make you think, 'Oh my God, she's an idiot?’ You're never going to get someone who left, especially in a lateral move, to tell you what their salary was. But I think if you ask in that way, sometimes people like to answer those types of questions."

"Or find people who have comparable jobs in similar companies,” suggests White. “Without asking what they make, you can say something to them like, 'Would you mind me asking you the range of X position at your company? I love my company but I'm just curious what the range is elsewhere.' I think people will often answer that as well."

However, proceed with caution. 

"I've been in situations where people found out salaries by snooping around or having conversations about it in the office, but if your boss finds out it really makes you look small," says White. "So I would say that's something to avoid."

5. You Have a Gut Feeling 

I have found this to be true in my own experience, and White confirms to trust your gut. If after a few months of watching and listening, you have the sneaking suspicion you're being underpaid, you probably are. 

"I think a lot of times our gut feelings about things like this are absolutely accurate," says White. "It's almost as if you're picking up clues on a lot of different subliminal levels. Maybe a guy on your same level invited people from the office over for drinks and you saw his apartment and realized, 'Wow, that's pretty nice.' Or you notice the vacations he takes. And sure, maybe he's got a trust fund. But all those little things that happen—the way your boss might be evasive, the spending habits of people on your level—all those things end up being almost imperceptible clues that on some subliminal level make your stomach twist a little bit. And you just sort of know.” 

"It could be from things people inadvertently say, but the point is that it's not just one thing—it's a combination of those various, vague little things, and what they add up to that speak to you on a subliminal level,” says White. “And a lot of what they say about intuition is connecting the dots and I think you should connect the dots in this case and listen to your gut."

For more advice from Kate White on negotiating and more, pick up a copy of her tell-all career bible, “I Shouldn't Be Telling You This: How to Ask for the Money, Snag the Promotion, and Create the Career You Deserve.”

Written by Kelsey Manning for Levo. 

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This story was originally published on April 19, 2017, and has since been updated.

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How to Keep Calm About Money When You Start a Business

Photo: Christina Jones Photography

Funding your business is like re-enacting the first scenes of a Bond film. It’s fast-paced, dramatic, and highly unpredictable. But in the end, you know you’re at the beginning of the story, and M(s)r. Bond (that’s you) is very likely to prevail. S/he overcomes the first of the saga’s challenges by acting nimbly and exhausting even the most obscure options. You’ve got this. 

Here’s how to suit up, fight on, and tackle any financial challenge (whether it be personal or entrepreneurial) with that calm, cool, and collected charm that only Bond can balance. Because after all, aren’t we all aiming to fight financial obstacles with precision and grace in a beautiful British sports car? 

#1 Be prepared. Be very prepared. 

Ask any of your more tech-centric friends who their favorite Bond character is and they’ll likely say, “Q, of course.” That’s because Q prepares Bond for any high-speed chase or “sticky” situation. Here’s how to prepare yourself (and your wallet) to be financially ready to take the leap (or free-fall) into entrepreneurship. (Let’s be honest, these are all great for personal money management too). 

1. Build up your credit score if it’s less than 700. You’ll want a good score to open your business account, which can open up some credit lines when you’re strapped for cash. Believe us, this isn't a matter of if, it’s a matter of when.

2. Secure a little nest egg. While we know some bada$$ founders who had very little sitting in the bank, having an emergency fund to fall back on personally can seriously help with your stress levels. 

3. Know your next 3 steps. Before even publishing your website, know what you need to 1. Start your business, 2. Get your first client and/or 3. Build a community of loyal, paying customers. Stress reduction is all about knowing where you’re headed and how you’ll get there. Think of these as your GPS coordinates to locate that beautiful Aston Martin. You need them to slide into that leather seat and zoom through the road ahead. 

#2 List out your priorities (and everything else).

Lists are our best friends. BEST FRIENDS. We have lists for to do’s, to don’t’s, how to do’s, etc., etc. Listing out your priorities might be less of your on-camera Bond persona, and more like your very real, Money Penny (equal bada$$) reality. That’s ok. Your lists will help reassure you at the end of a very long day that you did some good, you defeated some evil, and you know what’s left to accomplish.

Here’s how to get your financial priorities set: 

1. Find the right team. As much as you may think your Bond alter-ego can go it alone, you can’t. He doesn’t. Why would you try? Determine what your weaknesses are early and hire someone better suited to manage that aspect of the business. Even better, find a co-founder. They invest, they’re likely to take as little-to-no income as you, and they work just as hard. (Plus, you then have someone to talk to about all the obstacles that arise). 

2. Negotiate everything. Set a projected cost for all of your assumed expenses. Then mark down where you think you can save 10, 20, 50%. If you’re working with contractors, remember they need your logo just as much as you need their work. 

3. Build SMART (specific, measurable, achievable, relevant, time-based) goals and milestones. List out your necessary milestones for the next year and then set reasonable goals to help you hit those targets. This will help you decide what you should spend money on now and where you can press pause if needed.

4. Always ask yourself, “What will investors think?” If you’re going to rely on outside investment to help you hit your goals, make sure you’re developing a financial plan that’s aligned with your market, your audience size, and your investment goal. Try and learn how investors think (which is different than business owners!) to craft your messaging and pitch. You can be debonair as all hell, but if your gadgets don’t help you defeat the bag guy, you’ll be left vulnerable. 

#3 Be kind to yourself. 

After a long, grueling defeat of the villain, what does Bond do? He takes a vacation. And as you’re building up your Bond-like entrepreneurial persona, you should try to too (have you decided on your code name yet?). Taking time away from your business no matter what stage it’s in is always going to be hard. There will always be emails to answer, ideas to craft, missions to crush. And yet, you will never be your full Bond-self if you don’t take the time to recover. 

Here’s how we prioritize kindness and self-care even after the most trying days: 

1. Find something to pay attention to after a long day, that isn’t a screen. Nature, anyone?

2. List your fears and come back to the list often to assess and reframe. At the end of the day, you’re not fighting some evil foreign power who wants the world to end. Try reframing each fear into an opportunity. For instance: “I’m afraid we’ll fail.” Turns into, “If we fail, I’ll only be disappointed if I haven’t given this f&cker my all. If I have, I’ll know I’ve done something great.” 

3. Ask for help. We never do this enough and often by the time we have it’s too late and we’re already drowning in stress. Don’t wait. Find your support network of entrepreneurs, advocates, advisors, colleagues who can help you navigate even the darkest or most uncertain situations. 

4. Build your Bond Backbone with a daily mantra. Here are some thought starters: “I am strong. I am capable. I am right for this. I am wise. I manifest my abundance.”

And there you have it. Taking that entrepreneurial leap can be scary, but when you have the right mindset, a good plan of action, and enough certainty that at the end of your story, you’ll be stronger, more resilient, and ready for anything, you’ll find a feeling of empowerment that far outweighs any obstacle or villain that might stand in your way. Now go out there, embrace your inner secret agent, and become the titan of industry you were born to be.  

“H

aving an emergency fund to fall back on personally can seriously help with your stress levels.”

—Maia Monell, Co-Founder and CMO, Nav.it

About the Author: Co-founder and CMO Maia Monell has experience in growth marketing and brand strategy for developing software firms as well as in global women’s development. Prior to Nav.it, Maia worked with sports technology brand Bridge Athletic and holds an M.S. in Marketing Strategy & Innovation from Cass Business School. Maia's background in developing programs for professional female athlete campaigns and Brand Ambassadors gives her the unique experience to develop Nav.it’s authentic voice and brand promise.

About Nav.it: Nav.it is a banking app that helps you build healthy financial habits.  Pay down debt, automate savings, track spending, and learn how to more optimistically navigate your financial future with Nav.it's financial roadmap. Nav.it changes behaviors around money by providing personalized tools that build confidence in your money moves. Financial wellness starts here!

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This story was originally published on September 10, 2020, and has since been updated.

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"Nothing Was Standardized"—How 2 Frustrated Moms Took On a $61.8 Billion Industry

We know how daunting it can be to start a new business, especially if you’re disrupting an industry or creating an entirely new one. When there is no path to follow, the biggest question is, where do I start? There is so much to do, but before you get ahead of yourself, let’s start at the beginning. To kick-start the process, and ease some of those first-time founder nerves, we’re asking successful entrepreneurs to share their stories in our new series, From Scratch. But this isn’t your typical day in the life profile. We’re getting into the nitty-gritty details—from writing a business plan (or not) to sourcing manufacturers and how much they pay themselves—we’re not holding back.

Photo: Courtesy of Perelel

 Did you know that one out of every 33 babies in the United States is born with a birth defect? In fact, birth defects are the leading cause of infant deaths, accounting for 20% of all infant deaths, according to the CDC.

So, when Tori Thain Gioia’s daughter was born with a cleft lip despite not having any risk factors or genetic link, “it really knocked me off my feet” she told Create & Cultivate. “I started looking for answers.” she continued. “I did a lot of research with my OB/GYN and learned that the type of cleft my daughter was born with is often associated with a folate deficiency.”

Shocked is an understatement because Gioia had been taking a prenatal vitamin with folic acid which she thought was the same thing as folate. “I later learned that folic acid is the synthetic version of the nutrient folate and some 60% of women cannot transform it into the absorbable format, known as folate.” What’s more, she learned that folate levels during the first nine weeks of pregnancy are crucial to development. “I was frustrated to find that so many prenatals had poor quality ingredients like folic acid and saddened that there was so little education out there about what and when you really in need your prenatal.”

So, she partnered up with friend and fellow frustrated mama, Alex Taylor to change the statistics. When they first met, they had both just given birth and as two people with a lot of startup experience, they were equally disappointed by the current offering for millennial moms.

Today, they’re taking on the $61.8 Billion supplements industry—it’s predicted to reach a value of $349 billion by 2026—with their own prenatal line, Perelel vitamins to be parallel to where our woman is in her journey, there to support her when she needs it most. These supplements have been designed to adapt to your body’s changing needs throughout your motherhood journey. Using only bioavailable, high-quality ingredients at doctor-recommended doses, their formulations offer targeted nutrients for each phase.

Read on to hear more about how Gioia and Taylor are disrupting the supplements space and sparking connection and community with new moms along the way.

On the lightbulb moment…

Alex Taylor: I had also recently given birth to my first child and felt frustrated with my prenatal vitamin experience. I’ve always been incredibly health-conscious, which was only magnified when I was diagnosed with a thyroid disease about seven years ago. I’ve been fortunate to have access to incredible practitioners over the years, so when it came to pregnancy I was especially privy to the nutritional nuances associated with each phase. In a nutshell, I learned that the timing of certain nutrients was paramount.

When I began my pregnancy journey, I supplemented my prenatal vitamin with CoQ10 and additional folate while we were trying to conceive. Once I finally got pregnant, I supplemented with added calcium and iron and tracked down a separate Omega that offered both high-quality DHA and EPA, and so on. I was chasing down vitamins from Amazon, Whole Foods, your name it, piecing together what I understood to be the optimal mix of vitamins. It was a haphazard experience, to say the least. Each morning, I’d line up my various pill bottles and sort out my daily dose, which my husband found very amusing.

What made things all the more confusing was the fact that there was very little credible information online about prenatal vitamin nutrition—nothing was standardized and most of the resources I found were on community forums, which just didn’t cut it. After putting together the puzzle pieces of our challenges, Tori and I knew there had to be a better way.

What we found were three major issues with the current one-size-fits-all prenatal vitamin market:

1. Poor quality ingredients

2. Timing the introduction of certain ingredients was vital

3. Lack of information from credible sources

Appreciating we weren’t MDs, we teamed up with Tori’s OB/GYN, Dr. Banafsheh Bayati, who eagerly validated our concept (and joined as a Medical Co-Founder). Along with Dr. Bayati, we also ran the idea by a handful of other leading OB/GYNs and maternal-fetal medicine doctors who were equally enthusiastic about the need for a more targeted prenatal vitamin with a holistic approach.

From there, we knew we were onto something special, and so, Perelel was born.

“There was very little credible information online about prenatal vitamin nutrition—nothing was standardized.”

—Alex Taylor, Co-Founder, Perelel

On writing a business plan…

AT: In our own way, yes! Instead of writing a memo, we used the exercise of creating a full presentation as a way to crystalize the brand, our product assortment, our mission, and what we hoped to accomplish. We used the deck as a roadmap for the concept, how we’d get it off the ground, and what the financial architecture would be. We built a financial model that contemplates a number of scenarios and strives to ensure a path to profitability. Both exercises have been invaluable tools for us and served as compasses that we often reference and discuss.

On coming up with the name…

AT: Naming was probably the toughest part! We created endless lists of ideas but never seemed to pull the trigger. Finally, Tori called me one evening as I was driving down the 405 and said that we had to pick a name so we could incorporate the business. As luck would have it, we both gravitated toward the same name on our long list of options: Perelel. We chose this name because our goal is to always be parallel to where our woman is in her journey, there to support her when she needs it most. Plus, we loved that our version of the spelling used the root word “pere-” which means “to produce”—a nice wink to the goal of taking our products: to produce a healthy pregnancy.

As soon as we locked in the name, we secured the web domain, social handles, and applied for the trademark. From there, jumped into the formulation process with our doctors while also interviewing manufacturers that met our high quality and production standards.

On finding a trustworthy manufacturer…

TTG: While the FDA does not approve dietary supplements, we manufacture our products in accordance with the FDA’s current Good Manufacturing Practices (cGMPs) to ensure quality and safety. And for good measure, we test all of our products for heavy metals, microbes, allergens, and contaminants. To find our manufacturers, we teamed up with a supplement consultant who has 20 years of experience in the space to help us find the right partners while also working hand-in-hand with our team of doctors and Medical Co-Founder, Dr. Bayati, to formulate the perfect product.

Due to COVID-19, we encountered some hurdles as many supply chains were disrupted and manufacturing lines were backed up due to the shutdowns. Eventually, we found an amazing partner who met our long list of requirements. We did many reference checks and Zoom interviews. If you’re looking for a manufacturer, we suggest pulling in a consultant with a deep category experience. There are so many nuances you need to be aware of, and unless you’re an expert yourself, it helps to have the reassurance an insider can offer.

On funding the company…

TTG: We raised a small friends-and-family round, but because we’re focused on proving our concept and establishing the brand, we decided to primarily bootstrap through launch. We have plans to raise a small institutional seed round in early 2021 from the right partners who believe in the mission of the brand and an efficient path to break-even.

“

We chose this name because our goal is to always be parallel to where our woman is in her journey—there to support her when she needs it most.”

—Alex Taylor, Co-founder, Perelel

On paying themselves a wage…

TTG: Right now we’re not paying ourselves, but hope to someday soon! When we reach an appropriate scale, we will both look to take a salary, but as we bootstrap through launch, we’re not.

On the building a team…

AT: We have two primary co-founders along with an OB/GYN who is our medical co-founder. Additionally, we have two full-time employees, an amazing intern, and we have a panel of 9 experts and advisors who support us with content, community building, product review, and development.

Both Tori and I have managed larger operations and teams in the past, so hiring and building out the infrastructure came second nature to us.

On staying on top of the financials…

AT: Tori has a finance background, which spans investment banking, investing, and operations. She also has an MBA from Harvard Business School and a lot of experience building financial plans for very early-stage businesses, so we’ve leaned heavily on her savvy there for sure. That said, strategic finance and operations are a different beast than accounting, so we’ve onboarded a great partner to help us there. We want to be buttoned up and organized from the start so we don’t have to undo (or redo) a lot of work there.

On the biggest learning curve…

AT: There’s never a dull moment, especially when you’re dealing with third-party operators and have supply-chain dependencies. We’ve had to block-and-tackle as we go, making tough decisions. But honestly, the process has helped us build a strong foundation as partners. We trust one another implicitly and deeply respect each other, too.

There are so many nuances you need to be aware of, and unless you’re an expert yourself, it helps to have the reassurance an insider can offer.

—Tori Thain Gioia, Co-founder, Perelel

On having a business coach…

AT: I’ve worked with an incredible coach on-and-off for the past five years or so. He’s helped me build a resilient mindset, grow as a leader, make leaps in my career to better align with my personal values, and has equipped me with tools to not only make better decisions but also insights that have helped me become a better person, too. I am deeply grateful to him. If you can, I highly recommend finding a coach or a mentor you can regularly check in with.

On creating buzz around the brand…

AT: I come from a content, marketing, and strategy background where I’ve built many brands you might know and love today, so building Perelel came second nature to me. Part of it was pulling the more obvious levers such as social media and building our email list ahead of launch through compelling programming, but what’s been especially fun are all of the new and unconventional strategies we’ve been pursuing! Consumer habits are shifting a mile-a-minute so we’ve been focused on understanding fresh ways to engage our customers and pull her into our universe. Think outside the box!

On advice for small business owners…

AT: In the very early days of starting Perelel, I was chatting with a mentor of mine and he shared a story with me: He told me about a dinner he had with Elon Musk, who said being an entrepreneur is like waking up every morning and chewing glass. I laughed it off at the time, but it’s true. You have to be prepared to deal with a whole new set of challenges each day. And these challenges don’t ever go away, no matter how successful your business. Starting and running your own company is not a cakewalk. And it’s definitely nothing like the “girl boss” fantasy you often see portrayed in the media or founder press out there.

On the #1 piece of financial advice for new business owners…

AT: Loaded question! The first is spending the time upfront to do an honest assessment about what capital is required to break-even, even if it’s a range. Forming a point of view as to what your cash needs are in the near and long-term is crucial given there is no business if there isn’t cash. The second piece is being thoughtful about what KPIs you’re targeting to determine what success looks like. We’re trying to identify the metrics that we’ll need to achieve and not fall into the trap of cherry-picking data points to make strategic choices.

On developing a solid working relationship as co-founders…

TTG & AT: We are launching this business while also expanding our families (Tori just had a new baby and Alex is due in December). Fortunately, we are not first-time moms and fully understand what is involved in coming home with a newborn. We have great respect and understanding of what each other is experiencing, and because we are a small, nimble team, we can flex when the other needs to retreat to be with family, but we still feel fully supported by each other. We also knew we would need to have some support, so we brought on two full-time team members to Perelel to help keep the day-to-day rolling when we need to focus on family.

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The Best Money Advice From the Founders of ClassPass, Birchbox, Drybar, and More at the U.S. Bank Women and Wealth Summit

Photo: Smith House Photography

On Thursday, October 8th, we tapped industry-disrupting entrepreneurs and experts for the private U.S. Bank Women and Wealth Summit, a virtual event exclusive to U.S. Bank clients. Inspired by the recently released U.S. Bank Women and Wealth Insights Study, it’s safe to say we didn't hold back on discussing all the important topics around women and wealth, from exploring how women are making their mark on communities through philanthropic giving to diving into the systems that cause the gender wealth gap and how to dismantle them.

The afternoon of thought-provoking conversations was led by noteworthy female founders including Payal Kadakia, the founder and executive chairman of ClassPass; Katia Beauchamp, the co-founder and CEO of Birchbox; Alli Webb, the co-founder of Drybar and Squeeze, and more. Then, Gunjan Kedia, Vice Chair of Wealth Management and Investment Services at U.S. Bank took to the virtual stage with Jaclyn Johnson, founder and CEO of Create & Cultivate to share her story of immigrating to the U.S. to become one of America's Most Powerful Women in Finance, with her division responsible for more than $7 trillion in assets under management or administration. 

Although the event was exclusive to the U.S. Bank audience, don't worry, we wrote down all the most quotable moments for you! Read on for the highlights.

Fireside Chat With U.S. Bank's Gunjan Kedia, Vice Chair of Wealth Management and Investment Services 

Panelist:

Gunjan Kedia | Vice Chair of Wealth Management and Investment Services, U.S. Bank 

Moderator: 

Jaclyn Johnson | CEO & Founder, Create & Cultivate

On being a leader…

“Leadership is fundamentally about everyone but you.”

“I very humbly believe that your title comes with your career, but leadership comes with your point of view.”

On entering a successful company in a high-powered role… 

“First, seek to understand, then seek to change.”

On being empowered by your finances...

“Being on top of your money affairs is so empowering. It gives you so much confidence that it’s worth investing in.”

On paying it forward by working in the finance industry… 

“It is hugely satisfying personally to see someone smile a little bit because you helped them through a difficult decision.”

On managing your money…

“I’m not going to make you believe it’s the most fun thing you do, but I want you to believe it’s not optional.”

On saving, saving, saving…

“‘I save first, and I spend second’ is a mindset that’s very important.”

On getting started… 

“You have to invest in educating yourself.”

“Don’t fear making terrible decisions. Just don’t make huge terrible decisions.”

“Think about what $5 a day does for you 30 years from now if invested wisely.”

On making smart money moves during COVID...

“Right now, interest rates have come down very dramatically so if you have debt you should look at it and see if you can restructure it.”

On maintaining your income… 

“Income continuity is very important to building wealth.”

On cultivating a healthy mindset around money…

“Money is a way to achieve what you want to do with your life.”

“Know it, manage it, don’t fear it, and don’t let it control you either.”

On switching industries to spend more time with her family…

“If anyone thinks that motherhood doesn’t disrupt a career, I’d have to respectfully disagree.”

On giving advice to working moms…

“Don’t give up, stay in the game.”

“Life works out, but you never plan it.”

Keynote Conversation With Actor and Entrepreneur Tracee Ellis Ross

Panelist: Tracee Ellis Ross | Actress, CEO, and Executive Producer 

Moderator: Jaclyn Johnson, Founder and CEO, Create & Cultivate

On becoming an actor..

“Acting gave me access to everything about myself—everything was at play in the world of acting and I felt completely alive and could use all aspects of myself.” 

On how the industry has changed…

“There are so many different ways to discover talent, and to have your gift and talent be seen.”

“There is a democracy in the industry now, that people are able to not just be one thing.” 

On aging in Hollywood…

“I have always wanted to get older. I am always excited about birthdays. You get wiser, more comfortable in your skin. I am grateful at this age to be able to have at my fingertips what I have at my fingertips because I know what it means to me and what I want to do with it.” 

On starting her business, Pattern Beauty…

“It is a task and a half to be a founder and CEO of a company. A successful company is not based on good intentions or even good ideas, it has to be combined with a really good operational process and strategy.” 

“I retain majority ownership, I have full creative control, it is my brand, it is my idea and that means I get to run it the way I want.”

“I believe in shared power. I believe in a table filled with voices, I believe in people bringing their whole selves to work.”

“I believe in a business that doesn’t just make money but also gives back to the community.”

On confidence around money…

“I have always been an outspoken individual but I did not know how to negotiate on my behalf and I did not know how to talk about money.”

“Culturally, women are not taught to talk about money. We have been taught that women are not meant to take up space and not rock the boat. We have also been siloed off from each other particularly as Black and Brown people so we don’t share information with each other and you always think you are alone. And when you think you are alone, it is very scary to show up for yourself because you don’t know; you have nothing to compare it to.”

“Don’t be afraid to ask for support and ask for help. You can be transparent. If you go somewhere to ask for support and they make you feel wobbly, try somebody else.”

“I believe in people being paid fairly and equally for the jobs that they do.”

“I strongly believe in women and WOC fighting for equity—for having a stake in what they create.” 

On sharing the table with other women…

“My confidence has come from the collective energy of other women. They have taught me how to navigate my life—not on my own as this siloed individual, but with this collective spirit and information of all of us.” 

“You want to have people in your circle who are steps ahead of you and steps behind you.”

On advice she’d give her younger self…

“Things take longer than you think they are going to take.”

“Trust the process.”

“The questions are more important than the answers but there is such a sense of fulfillment when you stop looking for that answer and it just appears on your plate.” 

Investing With the Heart: Building Thriving Communities by Combining Social Responsibility With Charitable Giving

Panelists:

Ruby Pediangco | Senior Philanthropic Advisor, U.S. Bank Private Wealth Management

Arian Simone | General Partner & Co-Founder, Fearless Fund

Shiza Shahid | Co-Founder, Our Place

Rebecca Minkoff | Co-Founder & Creative Director, Rebecca Minkoff, and Co-Founder, The Female Founder Collective

Moderator: 

Sacha Strebe | Editorial Director, Create & Cultivate

On being a woman and a philanthropist…

“We are nurturers. We are givers. We multiply anything that is given to a woman.” - Arian Simone

“It’s no longer a luncheon activity. It is an activity of smart women who want to maximize their capital and do good at the same time.” - Rebecca Minkoff

On being inspired by your upbringing…

“My parents instilled in me the concept of sadaqah jariyah, which is this idea that you should do something in your life that will live long after you’re gone.” - Shiza Shahid

“I’ve learned from my work what happens when you help a woman earn a dollar: She invests 80-90% back for her family and her community. It is typically 30-40% for men.” - Shiza Shahid 

On finding new solutions to old problems...

“Anything that puts you out of the status quo gives you a deeper perspective and allows you to be far more creative in solving challenging issues.” - Shiza Shahid

On using life experiences to inspire giving back …

“Working at a nonprofit is very close to my heart, however, I believe that if we’re to solve the most pressing challenges, we need businesses to step up.” - Shiza Shahid 

On providing education, access, and connection to the female founder community…

“I was tired of seeing the same few women being asked to speak on panels and then being asked, ‘What's it like to be a female founder?” as if we were polar bears.” - Rebecca Minkoff

“Founders teach founders best. We've been through it.” - Rebecca Minkoff

On influencing positive change in our communities…

“I'm the answer to my problem.” - Arian Simone 

“Black women are the most founded, yet the least funded.” - Arian Simone

“We are the first Women of Color fund that is built by us, for us.” - Arian Simone

On investing your wealth into your personal values, ideas, and perspectives…

“It's very rare that I've invested in anything that's been owned and operated by a man because I am putting my money where my mouth is.” - Rebecca Minkoff 

“Take the time to do some self-reflection and think, ‘Why am I passionate about education for children?,’ ‘Who influenced me?’ Once you do that reflection, you begin to have a story to tell and it ignites a fire.” - Ruby Pediangco 

“It's that laser focus on what's important that really has flourished all of their endeavors.” - Ruby Pediangco

On finding mentors and providing advice to others…

“It's one thing to give somebody capital. It's another thing to equip them with the skills in order to put that capital to work.” - Arian Simone

“Rather than putting it into Google, you are able to talk to another woman and say, ‘Hey, how did you do this?’ and it doesn’t mean it’s high-to-low, it’s side-by-side.” - Rebecca Minkoff

On ensuring your values align with your philanthropic efforts… 

“Take a sheet of paper, draw a line down in the center, and think of three things that are important to you other than your family. And on the other side, think of charities that you have given to or wherever you’ve invested your money to. Look at that sheet to see if there is alignment between the two.” - Ruby Pediangco

 On encouraging more women entrepreneurs to consider philanthropy…

“It’s absolutely fine if you can’t give today. You can give in the future.” - Ruby Pediangco

On creating connection, impact, and community…

“Women of Color, by nature, bring to the table an element of social impact. By nature, that is just what is happening.” - Arian Simone

On making charitable giving an active part of one’s life…

“I’m not just handing over my money. I am handing over my time.” - Rebecca Minkoff

On finding a thoughtful approach to help build thriving communities…

“There is no trade-off between deep ambition and trying to do the right thing. It’s more and more complimentary.” - Shiza Shahid

“What we have to do, in this moment, is think hard about what we stand for and then be consistent in it. Not just when it’s fashionable.” - Shiza Shahid

“Speak with someone older than you to inform your perspective.” - Ruby Pediangco

Closing the Gender Wealth Gap: A Conversation About the Multibillion-Dollar Disparity

Panelists:

Divya Gugnani | Co-Founder & CEO, Wander Beauty

Katia Beauchamp | Co-Founder & CEO, Birchbox

Alli Webb | Co-Founder, Drybar & Squeeze

Lindsey Boyd | Co-Founder, The Laundress

Moderator: 

Beth Lawlor | President of Private Wealth Management, U.S. Bank 

On experiencing the gender gap early on…

“The minute I got out of college, I told myself, ‘I don’t want to be financially dependent on anyone but myself.’” - Divya Gugnani 

“Early in my career, I was really naive about the gender gap. In my mind, as a young person just starting a career, I thought, ‘But we’re doing the work, we’re closing the gap.’”- Katia Beauchamp

“I wanted to learn and earn that right [of having a voice in the room].” - Katia Beauchamp 

On starting a business despite challenges... 

“I surrounded myself with people who are smarter in ways I’m not and can help bridge that gap for me.” - Alli Webb

“You have to follow what you’re excited about doing.” - Alli Webb

On finding the right market to thrive in...

“There was a major void in the market for proper cleaning products seventeen years ago.” - Lindsey Boyd

“I was excited about getting out of the house, getting away from my kids, and doing something for me, which turned into, ‘Oh my god, there is a massive hole in the marketplace,’ and, ‘Why isn't anyone doing that?’” - Alli Webb

On raising money and learning about finances through experience... 

“We called on people that we knew and believed in us.” - Lindsey Boyd

On investing in female-founded companies…

“We really have to change the entire ecosystem.” - Divya Gugnani

On empowering your employees… 

“Allow people to do what they're passionate about within your organization.” - Lindsey Boyd

On simultaneously being an empowered mother and successful entrepreneur…

“Entrepreneurship prepared me to be a stronger mother and motherhood gave me a perspective that is so needed and useful as an entrepreneur.” - Katia Beauchamp

On working hard to create sustainable growth…

“I was always the person that was working a bit too hard and everyone was like, ‘You’re making us all look bad.’ I expected that from everyone else around me.” -Alli Webb

“A good seven, eight years I worked like a dog. I loved it, but I was exhausted.” - Alli Webb

On empowering other women to overcome financial obstacles…

“We had interns that are now in VP positions.” - Lindsey Boyd

“We’ve done classes for our employees to give them the ability to do more than what they went to school for or what they thought they were able to do.” - Lindsey Boyd 

“Get smart [about money] and share it with everyone.” - Divya Gugnani

On taking control over your financial future…

“It’s about figuring out how to be financially fluent and become financially literate.” -Divya Gugnani

“We shouldn't be ashamed of what money can do.” Katia Beauchamp 

On having money conversations openly...

“Make it an okay thing to talk about at a girl’s dinner.” - Divya Gugnani

“Socializing the conversation around investment needs to happen!” - Divya Gugnani 

On being and finding a mentor…

“[Mentorship] is going the change the landscape on every level.” - Lindsey Boyd

“Men help each other and have each other’s backs, and it’s with money.” - Katia Beauchamp

 On being money-savvy in male-dominated spaces…

“Come to the table as strong as a man.” - Alli Webb

“We need to see more female investors writing checks.” - Divya Gugnani 

“Always come prepared for any review or employee conversation.” - Lindsey Boyd 

The Future Is Female: A Conversation on Building Generational Wealth for Women

Panelists:

Jesse Draper | Founding Partner, Halogen

Sarah Kunst | Managing Director, Cleo Capital 

Payal Kadakia | Founder & Executive Chairman, ClassPass

Moderator: 

Jaclyn Johnson | Founder & CEO, Create & Cultivate 

On empowering women to invest with confidence…

“We need more women creating billion-dollar businesses, then investing back into the ecosystem.” - Jesse Draper

On being an angel investor… 

“If you can buy a Birken, you can angel invest.” - Sarah Kunst 

On taking ownership of your finances...

“Don’t think you can be smarter than the market.” - Sarah Kunst 

“You should only invest in things you understand.” - Jesse Draper

“Money is not something that limits you, but energizes you.” - Payal Kadakia

On bridging the generational wealth gap…

“Investing in women solves all of our problems.” - Jesse Draper

“It’s my job to carry the torch forward to help other women succeed as well.” - Payal Kadakia

“The biggest thing I want to be able to invest in is people and to create wealth for other people.” - Payal Kadakia 

On finding female founders to invest in…

“You already have a network and you already know who you want to invest in. I promise you do.” - Sarah Kunst

“I literally just slide into their DMs, and I say, ‘I really want to learn more about your business.’” - Sarah Kunst 

On taking risks with money…

“It’s about making those trade-offs about what matters and what doesn’t.” - Payal Kadakia

“Women assess risk at a completely different level from men, so you are already derisking your investments, I assure you.” - Jesse Draper

On working toward financial freedom… 

“My thought is always, ‘How do I make more money?’ Not, ‘How do I ask someone to give me more money?’” - Sarah Kunst 

On creating wealth that improves the lives of future generations...

“There are organizations like the Los Angeles Ballet that wouldn't exist without female philanthropists at all, so I see that as a major component of what I do: Give back to my culture and performing arts.” - Payal Kadakia

“Invest in stuff you can’t afford to not see in this world.” - Sarah Kunst 

On growing with the market… 

“Your goal is just to keep money in the market and grow as the world generally grows.” - Sarah Kunst 

On learning from the mistakes of others… 

“I started studying the Vanderbilt House, they were one of the first formative families in America, and they lost all their money. They tried to hold on to it, and that is a risk.” - Jesse Draper

On building wealth with purpose… 

“My main conclusion is that it is a lot harder to oppress people with money.” - Sarah Kunst

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Starting My Business Was One of the Biggest Risks I’ve Ever Taken—But I Don’t Regret It

This article was originally published by Mogul Millennial on March 24, 2020, and has been shared with consent.

“

No matter what, you have to stay the course, even when you’re not making a lot of money in the beginning.

”

—Denequa Williams-Clarke, Founder Lit Brooklyn

At Mogul Millennial, we believe that when we avoid the important conversation around money, it becomes a silent tool for oppression for the Black entrepreneurial community. It’s hard to learn about something when you’re discouraged or scared to talk about it, and as a result, cannot really learn in order to grow.

In our series, All About the Benjamins, we’re challenging Black entrepreneurs to give us the tea on their financial reality—how much money they’re making (or not making) if they are profitable, how they were really able to launch their business, and so much more.

In this edition, we were able to catch up with Denequa Williams-Clarke, the founder of LIT Brooklyn, a luxury, eco-friendly candle company. After deciding she wanted to launch a candle company, Denequa taught herself how to make candles, and since then, has been able to partner with top brands and has grown her passion into a profitable business. In our chat, we learn more about how Denequa launched LIT, and her financial experiences in the early days as a new entrepreneur.

An entrepreneur at heart.

One of my first jobs was actually my start in entrepreneurship. When I was 12 or 13, I had a printing company with one of my cousins and I was selling greeting cards. There was this CD ROM, when they were a thing, called “Create a Card,” and I used that to create greeting cards around the holidays and business cards for people. The biggest thing that I learned from this experience was customer service. Even at that young age, I treated my business very seriously from how I packaged it, and even the time frame of how I delivered my products. But I think other than that, I have to credit my parents for teaching me about business. They were immigrants and a lot of things that I’ve learned in business came from them. As an immigrant, you have to be super-resilient, and that’s definitely a trait that you need in business. Also, you need to be reliable, trustworthy, and a person of your word. No business could have taught me what I’ve learned from watching my parents.

Photo: Courtesy of LIT Brooklyn and Mogul Millennial

For Denequa, it was all or nothing.

I’ve always loved candles and I think my love for candles and my love for making people feel good about themselves, inspired LIT. The lighting of candles and the ambiance that it provides, I love being a part of that experience. Back in 2015, I was literally in the living room watching TV, and I told my husband, who was my boyfriend at the time, “Yo, I think I want to start making candles.” The idea came easy to me because I love candles so much and I wanted to do what I loved.

When I decided to launch my business, I was doing it full-time. The money that I had saved from my last job helped me start my business. I literally just went all in. I know I had a lot of balls to do it. Looking back, I had a lot of balls and a lot of bills. Starting this business was probably one of the biggest risks that I’ve ever taken in life, but I don’t regret it.

I will say a disclaimer and note that there is definitely a certain kind of love that you have to have for starting any type of business but especially a business when you’re investing your own money into it because you have to have a mind frame of all or nothing and that’s not easy. You have to automatically go into it without even thinking that there’s going to be any loss at all; you have to fully believe in it 100%. I definitely experienced that a lot of that when I first started my business. I know people around me didn’t understand the importance of candles, but I didn’t let it stop me. 

It took spending money to make money.

My business was very expensive to start. Honestly, I never really calculated how much money I used when I first started. I do remember that there was a lot of trial and error and testing involved. There was a lot of spending on things like tumblers, wicks, glassware, waxes, and several other things. I never really took the time to think about the money aspect. Early on, I was so obsessed and invested in the final product that I never really thought about everything else that was going on.

In my first year of business, I did do a lot of sponsoring products and that was an expense. I also did a lot traveling to make sure I was at different pop-ups and events in the city, which was a huge expense too. In the early days, it was definitely a lot of money that was spent, but I wasn’t tracking it like that.

Plant your seed, and then watch it multiply.

When I first launched my business, my price points were a lot higher, and that was, of course, all with trial and error. About six months into my business, I did a whole rebranding, where I offered a travel-sized candle and I offered a different color jar. I found that the person that I was getting my supplies from was able to offer me a cheaper cost, so then in return, I was able to offer my customer’s a cheaper price. Once I did the whole rebranding, that’s when I started to see an increase in sales. My customers were getting the same quality product but just in different packaging.

I  didn’t really see any real, consistent sales coming in until like a year or a year and a half later in my business. Keep in mind though, that’s a part of the game. No matter what, you have to stay the course, even when you’re not making a lot of money in the beginning. 

“

You don’t become a self-made millionaire overnight and people have to know this coming in. Entrepreneurship is hard.”

—Denequa Williams-Clarke, Founder Lit Brooklyn

In every success story, there’s a gap of trials and errors that is untold.

To be honest, in the beginning, there was definitely no paying of a salary. I sustained myself because I was lucky to be able to still live at home with my mom.

After my first year of business, my mom started seeing people and brands writing about my business. For example, I was featured in Essence and got to be in a Budweiser commercial. I think for an immigrant parent, my mom was like “I don’t know exactly what the hell you’re doing, but it has to be something because people are talking about you.” From there once the traction started to pick up, belief started to come in. She knew that I wasn’t just sitting around and that my business was a real thing. Being able to stay at home was a huge help because I was also able to save money.

Often times, people don’t really talk about things like this, and I think that’s why success stories are so jaded. It’s so many loopholes in everyone’s story. The reality is that when you have a business, what you make goes back into the business. Even if you have a $5,000 day, you don’t really have $5,000, sis. That money goes back into supplies, back into your product, your tech, etc.

There is a lot of factors that go into the money that’s made as an entrepreneur, and I don’t think people are honest when having that conversation. You don’t become a self-made millionaire overnight and people have to know this coming in. Entrepreneurship is hard.

Started from the bottom now we’re here.

After all of the trials and long nights, I’m profitable now, but it didn’t happen until after the year and a half mark. Most of my revenue, and my profitably, has come from the help of my consumers, and their word of mouth marketing. The awareness that I’ve been getting since I launched from people that love my brand has been huge and impactful.

To keep up with Denequa or LIT, follow them on Instagram here, or visit the site to pick up your candle!

Photo credit: Courtesy of Denequa Williams-Clarke and Mogul Millennial

Mogul Millennial, Inc. a media-tech platform curating actionable resources for Black entrepreneurs and corporate leaders #forusbyus. Follow @mogulmillennial on Instagram and Twitter, and check out our website at www.mogulmillennial.com.

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How a Digital Nomad Built a Multi-Million Dollar Business While Working Part-Time—With Just $800 and a Laptop

Photo: Taryn Elliott from Pexels

Ever since I was little, I remember being told that I had to work hard, get good grades, go to college, get a job, make money, and then I could do what I wanted. Except, I didn’t want that for myself. I didn’t want a 9-to-5 job, counting down the days until my next vacation. I wanted something more.

I just didn’t know how to get it.

For a long time, I was torn between joining the Peace Corps and getting a degree in comparative politics. I even thought about attending law school, but I knew it wasn’t what my soul really longed for. While all of the above would have absolutely satisfied the approval of others, it wasn’t what I wanted. I wanted to travel the world, and I didn’t want to wait years until my bank account made it possible. 

During my senior year of college, I started to think about creative ways I could earn money while traveling. Blogging was an option, especially since I already had a website and a logo, so I figured I could trade services for accommodations. However, since both of my parents are financial professionals, I realized that monetizing a travel blog would be challenging (and improbable). 

Without a better plan in place, I decided to take the leap anyway. Before I knew it, I bought a one-way ticket to Bali armed with my laptop and $800.

“Success doesn’t happen overnight, but—with hard work—it can happen pretty fast.”

When I first arrived in Bali, I was making $12 an hour as a social media manager. I even worked for free or low-paying positions in return for testimonials, and that hustle paid off. I built a foundation of testimonials and referrals as quickly as possible, and I started to attract more clients. In my first month, I made $5,000.

Except, I was doing it the wrong way. I was working way too hard, I was overloaded with clients, and I’d trapped myself in a self-employed version of the same corporate grind that I sought to escape. Here I was, living in Bali, but I was working so hard that I couldn’t even enjoy it.

I could keep doing what I was doing, sure, building a business trading time for money, or I could take a leap of faith into something new.

I decided to invest in my own business coach, spending $3,600 that I could barely afford on hiring my first mentor, but the investment paid off in a huge way. Soon, I hit my first five-figure month. Then it doubled. Suddenly, I was bringing in $50,000 a month and landing features in Forbes and Business Insider. Within a year, I was a self-made millionaire working less than 15 hours per week from all around the world, and it’s been growing ever since.

And while starting a business definitely has its triumphs and tribulations, here’s what made it possible and how you can do it too.

1. Be very intentional about everything you do.

You need to know why you’re doing what you’re doing. Far too many people get caught up in chasing money or some other arbitrary version of success. What do you want? What actually drives you? 

I knew I wanted a business that gave me the freedom to travel the world, so I created a business model that allowed for that. Most businesses choose one of two pricing models, either premium pricing for a few clients or low pricing to serve a massive amount of people.

My business is built on both. By creating multiple streams of income, I can help as many people as possible and hit my income goals without working 80 hours a week. It’s all about being intentional and strategic in choosing what works for you.

2. Never, never never give up.

I moved halfway around the world by myself, so it’s no surprise that I thought about packing my bags, going home, and giving up. Fear started to slowly creep into my life, especially when it came to visibility. I convinced myself that other people would make fun of me for what I was doing, and it was my weakness for the longest time.

At one point, I was ready to quit. I went home for Thanksgiving, and my dad told me to give it six more months. Just six more months. Sure enough, I returned to Bali and my business exploded.

I was ready to let my own limiting beliefs hold me back. I wasn’t sure how I was going to get there, and the unknown can be incredibly scary. However, you’ll never reach your destination in life if you give up. 

3. Focus on personal branding and build a community. 

Once I started to build up my personal brand, a strong community began to form. I focused on creating a unique, visual brand that allowed me to share my own story so that I was able to stand out and attract the right followers for my business.

Then, I started to establish a presence on social media and connect with my audience on a much deeper level. As a digital nomad, having a strong brand on social media is the reason why I’m able to run my business from all the different countries I travel to. It allows me to establish a global, online presence and continue to attract the right clients regardless of the geographic location.

Plus, there’s no better feeling than having your audience root for you. People want to see you succeed, and you get to witness the direct impact your business has on other people’s lives. That’s incredibly fulfilling.

4. Create content that provides real value. 

If you want to connect with your audience in a huge way, then you need to be practicing value-driven marketing. Whether you’re creating podcasts, live streams, long-form blog posts, YouTube videos, Instagram Lives, or something else—what you’re creating doesn’t matter. Just make it valuable.

Remember, everyone’s journey is unique. Some people crave freedom. Others want the ability to spend more time with their families. Maybe you dream of achieving location independence. All of these things are doable, but it all starts with a choice.

And once you know exactly what you want out of life, it becomes way easier to create the business you want around it.

“Once you know exactly what you want out of life, it becomes way easier to create the business you want around it.”

—Sabrina Philipp, International Online Business and Social Media Expert

About the Author: Sabrina Philipp is an international online business and social media expert who has been featured in Forbes, Business Insider, Marie Claire UK, and more. She helps entrepreneurs build intentional, manageable, and profitable businesses so they can experience ultimate personal and financial freedom. 

Opting to skip the traditional 9-to-5, Sabrina moved to Bali with $800 to her name. Within a year, she built a thriving million-dollar business from her laptop. Currently traveling the globe with her fiancé Paul, Sabrina has a loyal community of over 100,000 business owners who follow her closely to see where in the world she’ll inspire them from next. You can follow her on Instagram at @sabrinamphilipp.

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How to Talk About Money With Your Significant Other (No Matter How Stressful the Times Are)

Photo: Jack Sparrow for Pexels

Whether you’ve been together for years or are just starting to date, talking about money with your partner can be fraught at any stage of the relationship. 

In fact, it’s often harder to bring up personal financial beliefs than it is topics like your sex life, politics, or even religion. During a pandemic, it’s even more challenging, yet deeply necessary. With so many households losing one or both incomes or simply feeling anxious about money, now is the time to foster open communication with your partner about money and how it makes you feel. 

As a financial therapist, Amanda Clayman, a financial therapist and Prudential Financial’s wellness advocate, is here to guide couples through this conversation all the time and is here to tell you that you are not alone and it gets better. With practice and an emotionally aware approach, you can navigate financial power dynamics, underlying assumptions, insecurities, and conflicting money styles and actually use money to bring you closer together than before.

Here are some tips to get you started.

Take an Emotional Litmus Test 

Money has a dual nature as a symbol and a tool in our lives. Before moving into a conversation about how you and your partner use money practically (to pay the bills, shop, etc.), consider what significance you symbolically place on money in your lives. Do you mentally tie your savings to your sense of self-worth? Or perhaps certain spending behaviors help you craft your personal image? These core meanings we attach to our money often go unexamined but can explain much of our emotional response when our financial lives are disrupted.

With the pandemic in full swing, job security uncertain, and markets moving up and down, it is normal to have a tidal wave of feelings. Take the time to acknowledge each one and think about why you are responding that way. Ask yourself what that feeling is trying to tell you about your values. By sharing these money triggers and truths with your partner, you can connect on a deeper, more meaningful level instead of squabbling about numbers.

Remember There Is No “Right” or “Wrong”

The way we choose to handle money is based on temperament, past experiences, and family learnings. These factors create a unique money style for each of us, and chances are, yours is not the same as your partner’s. Suspending judgment is essential in exploring money as a couple. Like any highly personal topic, the temptation to protect your own decisions by labeling them as objectively “right” is strong, but it is impossible for either of you to share the vulnerable details of your financial actions and feelings if this attitude is part of the conversation.   

Get to know each other’s money styles and stories by asking what money was like growing up for your partner. What was their first financial memory? How did they hear money talked about as a child? The more you know, the more you can emphasize and see not only the logic but the emotional reasoning behind choices that may have puzzled you before. When you both step back from trying to convert the other to your money style, you open the door to more creative solutions and compromises. 

Make It a Date—and Lean on Each Other

There never seems to be a good time to talk about money, even though it’s constantly on our minds.  Take the awkwardness out of beginning the discussion by making regular monthly or bi-weekly “money dates” with your significant other. Try ordering takeout from your favorite spot or opening a bottle of wine so you can both look forward to the conversation instead of dreading it. In these times of uncertainty, you may feel the need to increase the cadence of your money dates to once a week or more. Just remember, when more stable times return, don’t give them up! Choosing to talk about finances when times are good will provide you with a sense of normalcy when you need to talk about it in times of stress. 

These regular dates also allow you to keep each other grounded, especially during a crisis. Money is directly wired into our sense of survival, so when things feel out of control in our financial lives, we are wired to be reactive in a way that is not necessarily proportional to the actual threat. Consistently talking through these feelings with your partner will provide a perspective other than your own to gauge how well your emotions are matching up to reality. Gently support your partner and turn toward each other to decide on a healthy response to money stress and not make rash decisions in a silo. 

In conclusion, personal finance can be one of the most emotionally difficult topics to initiate in a relationship, but the more you practice it, the less scary it becomes. In times of upheaval, like this pandemic, we have a choice to let our anxiety drive us apart from our partners or have brave, productive, and affirming conversations. Times of difficulty are also opportunities to expand our empathy and find a deeper level of connection with our significant others. The important thing to remember is that this pandemic and subsequent financial uncertainty is neither you or your partner’s fault and will pass with time. In the meantime, Let’s come together on the things that matter, like supporting each other emotionally and remaining present. 

About the Author:  Amanda Clayman, a financial wellness advocate for Prudential Financial, is a widely recognized leader in the field of financial therapy. She helps her clients decode how thoughts, feelings, and associations shape their financial choices and identifies how those patterns serve and limit them in their lives. For over a decade Amanda has been helping people move beyond shame and frustration to find opportunities for personal growth embedded in the financial challenges they face.

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Ask an Expert: How to Create Financial Wellness By Rebuilding Your Personal and Financial Life Post-Layoff

We’ve been spending a lot of time at Create & Cultivate HQ discussing how we can best show up for and support our community during this uncertain time. Community is at our core, and connecting with others through one-of-a-kind experiences is what we love to do. While the world has changed, our mission has not. We’re committed to helping women create and cultivate the career of their dreams, which is why we’re proud to announce our new Ask an Expert series. We’re hosting discussions with experts, mentors, and influencers daily at 9 am, 12 pm, and 3 pm PST on Instagram Live to cure your craving for community and bring you the expert advice you’ve come to know and love from C&C. Follow Create & Cultivate on Instagram, check out our Ask an Expert highlight reel for the latest schedule, and hit the countdown to get a reminder so you don’t miss out!

“

Taking the time to create a financial roadmap will help you feel more in control and take the uncertainty out of your future financial picture.”

-Kathy Entwistle, Senior Vice President of Wealth Management, UBS Financial Services Inc.

It happened. It’s not a drill. And you most certainly aren’t happy. Why would you be though?  You were part of a major layoff, a restructuring, or some other term your company arbitrarily chose to deliver bad news, and now you are wondering what to do. You don’t want to spend time on a government web page endlessly scrolling for answers on unemployment, and you definitely don’t want to breach the subject with your friends or family yet. 

That is exactly why Kathy Entwistle, the senior vice president of wealth management at UBS Financial Services Inc., has outlined clear, actionable steps for you to take because while it is always acceptable to ask your network for help, a little preliminary research can bring a sense of independence and the power to stay positive and keep moving forward. Consider this your go-to source for handling all things personal and financial wellness for the next 30 days. 

Find your best Spotify playlist, give yourself a hug, and let’s get to planning your next act!

Put Yourself First 

Take some time to process the fact that your day-to-day life has changed. Not only is social distancing starving the human condition for connectivity and engagement, but your routine and purpose will have to be redirected, too. Find time over the next few days to look inside, reflect, pause, and even try meditating if this is not something you normally do. There are many great mediation apps, and most are offering free trials. 

Set Your Goals and Objectives

Whether you choose meditation or some other form of internal reflection, one important guidepost in your checklist and planning will be your purpose and intention. Setting an intention as to your schedule, routine, and plan to get yourself back on track will be crucial. The less intentional you are about your goals and objectives, the less effective you will be in pursuing them. 

Let’s start with your career intention and work our way to your financial intention. LinkedIn just became your new best friend (or same old friend for some who use it often). Reaching out through messaging, connections, and coffee breaks will provide exposure to the people who can provide proper guidance, advice, and possibly even the interview you wanted all along. 

A great book to read to help guide you on your new career path is called, “What Color Is Your Parachute?” It will give you some great questions to ask yourself when assessing your career intention, and possibly, a new career path.

Assess Your Resume

Find time to recraft your resume and ways to be a storyteller rather than a fact board. Make sure your resume tells your authentic story and is crafted to the right target audience for jobs you will now be applying to. Let’s not forget; your current connections at your company are extremely valuable. Reach out to both those who have been laid off and those who haven’t, but you know well. Their recommendations and willingness to help you on your next path are not to be overlooked!

Review Your Financial Plan

You want to first reacquaint and understand where you stand financially. How much you have, how much you need, and where you can pull cash flow from. Is it your portfolio kicking off dividends or coupons from stocks and bonds? Do you have an emergency fund with three to six months of easily accessible funds? Do you have anyone who is depending on you?  

Make sure to take a look at your credit card statements or activity online. This will tell you where you might be able to cut costs, like shopping for clothes online or ordering takeout. Just as you would block off time on your schedule for meetings, block out time on your schedule to review your plan, we might even suggest you accompany it with a matcha or your favorite cold brew.

Review Your Severance

The standard is two weeks of severance for every year you have worked at the company, but that is not mandatory. Make sure you take the time to understand what they are offering you, you are even permitted to try and negotiate. 

Also, check to see about your health insurance coverage. Will your employer be providing Cobra coverage and for how long? If you have a partner or spouse, make sure to account for yourself on their benefits when appropriate. 

Not everyone’s package will be the same, so focus your energy on yourself and what you can control. While we are still in the assessment stage, we are already moving forward. Keep that playlist rolling!

Review Your Debt

If you have credit card, auto loan, or student debt, now might be the time to conserve and preserve your cash. Don’t pay anything other than the minimum until you get back on your feet and are in a better position to get back on track and put together a plan to reduce your debt.  These are debts that you will want to be able to eliminate once you have your cash flow back in place and you have an emergency fund set aside.

Map Out a Savings Strategy

It might seem that much more difficult to worry about your day-to-day expenses let alone remember to stash away some for later, but it is important to keep saving, even if you have to decrease your contributions to your savings account. Ideally, you would not be selling any of your investments to fund your day-to-day expenses so you can continue to let your nest egg grow, however, we realize that you might need to sell some investments to get by.

Come Up With a Selling Strategy

You will want to be aware of any tax impacts of selling investments with unrealized gains. Unrealized gains are taxed at capital gains, instead of your higher ordinary income rates, and could cause an even larger burden if you don’t have the funds to pay the taxes. You will also want to keep in mind your long term investment strategy. If the investment has good prospects for future return or it is an investment providing cash flow, you might want to rethink selling that position just for liquidity.

Consider Borrowing 

Think about borrowing, as long as the rate of return will outmatch the rate of borrowing and opportunity costs. For example, rather than selling your investments to access cash, think about keeping your long term investment strategy running and borrowing for short term liquidity. When you get back on your feet, you will be happy to see your nest egg was compounding for a longer time and without any tax drag or reduction in size.

Money can be stressful. Not having money can be very stressful. Taking the time to understand your financial picture and take the steps necessary to create a financial roadmap will help you feel more in control and take the uncertainty out of your future financial picture.

About the Expert: Kathy Entwistle is the senior vice president of wealth management at UBS Financial Services Inc., providing straightforward financial advice tailored to the life you lead. Kathy has been in the financial services industry for more than 25 years. A former stay at home mom who donated her time teaching local financial classes to women, she rose to the heights of being named a "Forbes America's Top Women Wealth Advisor" in 2017 and 2018. As a seasoned multigenerational practice within UBS Private Wealth Management, Kathy, along with her son and the rest of her team, has guided generations of sophisticated families as well as senior executives and entrepreneurs through complex financial challenges.

Tune in daily at 9 am, 12 pm, and 3 pm PST, for new installments of Ask an Expert. 

Follow Create & Cultivate on Instagram, check out our Ask an Expert highlight reel for the schedule, and hit the countdown to get a reminder so you don’t miss out. See you there!

The CARES Act: What Are the Facts?

Photo: Vlada Karpovich for Pexels

The rapid spread of the coronavirus has led many states to mandate stay-at-home orders to protect the lives of hundreds of millions of residents. Although these social distancing measures are intended to safeguard the health of the public, the economy has come to a halt as a result. As of the end of April, over 26 million Americans have lost their jobs. 

The CARES Act was enacted by Congress and signed into law on March 27, 2020, as a response to the COVID-19 pandemic’s effect on the economy. Coronavirus-related legislation is being quickly developed on both state and federal levels to help Americans during this unprecedented time, but the speed of the measures passing sometimes makes the new developments unclear.

Here’s a closer look at the CARES Act and how it can help you.

What Is the CARES Act?

CARES stands for the Coronavirus Aid, Relief, and Economic Security. The act is essentially a $2.3 trillion stimulus bill to support the U.S. economy through the coronavirus crisis by providing payments, tax breaks and loans to local governments, Americans, and businesses over the next decade.

The CARES Act is intended to provide help to the people and the local governments responsible for them. The main focus of the act is to preserve jobs and protect those who are unemployed due to the COVID-19 pandemic. It provides help in four parts:

• Assistance for American Workers and Families: Payments to help Americans during the challenging economic times.

• Assistance for Small Businesses: Funding to help small businesses maintain existing payroll and hire back any laid-off employees.

• Assistance for State and Local Governments: Providing $150 billion in funding to state, local and tribal governments to navigate the COVID-19 crisis.

• Preserving Jobs for American Industry: Employer and small business tax breaks, loans, and deferrals to help businesses keep their employees.

What Does the CARES Act Do?

The U.S. government has allocated almost $2.3 trillion for this act. The funds are meant to keep Americans employed or at least financially covered until they can work again, as well as encourage local governments and businesses to continue to operate. Some of the most notable spending includes the following:

• Issuing one-time stimulus checks of at least $1,200 to qualifying taxpayers.

• Expanding and extending unemployment benefits by $268 billion.

• Providing $887 billion in loans and grants to local governments and businesses of all sizes.

• $276 billion in tax cuts for businesses including payroll tax credits and pushing back payroll tax due now to 2021 or 2022. 

• Providing at least $1.25 billion in aid to each state impacted by the slowdown in the economy which has created a decrease in tax revenues the states would normally use to fund public services.

• Providing $153 billion to healthcare facilities and support teams due to the impact of the coronavirus. 

• Allocating $42 billion for additional food stamps, housing support, and child and family services funding nationwide.

• $40 billion for education-related spending, including the deferral of student loan interest for six months and maintaining student aid for existing students.

• $20 billion for individual tax cuts to give the public a break as they struggle financially.

Who Does It Help?

The CARES Act helps nearly everyone. Employees, employers, independent contractors, the unemployed, small and large businesses, and states and local governments all benefit from provisions in the act.

If your small business is struggling, you may be eligible to receive payroll tax breaks and defer your payroll tax until next year. You may also qualify for loans and grants to keep your business afloat and your employees in place to weather the outbreak. 

If you’re currently unemployed, your state’s unemployment benefits have been increased and extended. Even freelancers and independent contractors, who would not normally be eligible for unemployment in the past, are now eligible through the CARES Act’s Pandemic Unemployment Assistance program. Contact your state unemployment office for more details, since states have rolled out their independent contractor benefits at different times and with different conditions.

How Much Money Are You Eligible For?

Aside from the assistance mentioned, all households are eligible to receive a one-time stimulus check. The CARES Act provides all households with a payment of up to $1,200 per adult (with an income of less than $99,000 or $198,000 for joint filers) and $500 per child under 17 years old. That adds up to $3,400 for a family of four.

How Can You Apply?

You don’t need to apply to receive your stimulus check. If you file tax returns every year, you don’t have to do anything further. If you haven’t filed in the last couple of years because you don’t make enough to file, you can sign up to receive your economic impact payment through the IRS website. You can also track the progress of the payment, as well as choose to receive the check via paper check or direct deposit through the website.

If you collect Social Security, you also don’t have to do anything but wait. The IRS will use the information provided on Form SSA-1099 and Form RRB-1099 to generate your economic impact payment.

Navigating the Crisis

The current COVID-19 situation isn’t easy. Luckily, state and federal governments are taking measures to support you as the situation evolves. Do your part to help the economy by buying from small businesses to support them during the COVID-19 crisis. The outbreak is likely temporary, but its economic impact will remain for years.

About the Author: Jori Hamilton is an experienced writer from the Pacific Northwest who enjoys discussing social justice, empowerment, and how to improve the workplace. You can follow her on Twitter and LinkedIn.

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Ask an Expert: What to Do When Your Revenue Is Significantly Slashed, According to a CEO

We’ve been spending a lot of time at Create & Cultivate HQ discussing how we can best show up for and support our community during this uncertain time. Community is at our core, and connecting with others through one-of-a-kind experiences is what we love to do. While the world has changed, our mission has not. We’re committed to helping women create and cultivate the career of their dreams, which is why we’re proud to announce our new Ask an Expert series. We’re hosting discussions with experts, mentors, and influencers daily at 9 am, 12 pm, and 3 pm PST on Instagram Live to cure your craving for community and bring you the expert advice you’ve come to know and love from C&C. Follow Create & Cultivate on Instagram, check out our Ask an Expert highlight reel for the latest schedule, and hit the countdown to get a reminder so you don’t miss out!

“

I haven’t taken a paycheck since February, its more important to me to think about the company long term.”

—Dr. Heather D. Rogers, founder and CEO, Doctor Rogers RESTORE

In this edition of our Ask an Expert series, Dr. Heather D. Rogers, the founder and CEO of Doctor Rogers RESTORE, joined us on Instagram Live to chat about everything from how to keep your business alive to how to get your best at-home skin.

For the uninitiated, Dr. Rogers is a dermatologist and CEO who is managing both her practice and her business in the midst of this crisis. She is seeing patients, hand packing orders, and wearing more hats than ever before—all while giving up her salary.

Scroll on for some highlights from the conversation—including why you should focus on your mission—and follow Create & Cultivate on Instagram to tune into the next one.

Your Brand Pillars Matter

“Being a brand right now, you really have to have very clear ideas of what your pillars are. Don’t start a company unless you can say why you are different and what you bring to the marketplace in three sentences. If you’re trying to bring something better to market and help people, that is something there is always space for.”

Less Is More When It Comes to At-Home Skincare

“When you’re at home, don’t overdo your skincare. Don’t do 15 masks a week, don’t over-exfoliate. Make sure you wash your face, moisturize your face, and wear sunscreen.”

“You should wear sunscreen even if you don’t go outside. When you’re inside, if you’re by a window, you will get UVA, which will break down collagen and give you brown spots—I always recommend a zinc-based sunscreen.”

“When your skin is agitated, less is more.”

Give and Get Support (We All Need It)

“I haven’t taken a paycheck since February, its more important to me to think about the company long term.”

“The really big banks are not going to help you here, you need to find the small banks that you can build a relationship with who will really go to bat for you.”

“We started a campaign called Help the Healers to give our products to healthcare workers. It feels good for us to do it, it helps the healthcare workers, and its also creating content.”

“I’ve been working really hard to be responsive to needs without being reactive because everyone needs a little more help right now. You need to thank your staff every day and recognize what they are doing every day.”

Tune in daily at 9 am, 12 pm, and 3 pm PST, for new installments of Ask an Expert. 

Follow Create & Cultivate on Instagram, check out our Ask an Expert highlight reel for the schedule, and hit the countdown to get a reminder so you don’t miss out. See you there!

5 Strategies to Get & Stay Out of Debt

Photo: Huy Phan for Pexels

The coronavirus pandemic is causing nearly 9 in 10 Americans to feel anxious about money, according to a new survey from the National Endowment for Financial Education. 54% of people polled cite not having enough money saved as being the number one stressor—but if you’re in a position where you’re able to put some money toward paying off your debts, you 1000% should.

Debt is a four-letter word—and, unfortunately, for many millennials, it’s a fact of life. But it doesn’t have to be that way! With careful, actionable planning, consumer debt can be a thing of the past. In a recent conversation with Sallie Krawcheck, the co-founder and CEO of Ellevest stressed the importance of paying off debt. “Get your credit card debt paid off because it’s leeching out wealth from you,” she cautioned us.

So, with that in mind, we’re sharing five ways to get (and stay!) out of debt, ahead.

Create a budget.

Chances are, not having a budget is what got you in debt in the first place. So this is a great place to start! Use a budget software like Mint or You Need a Budget, or put together a good old-fashioned spreadsheet! List all of your income, then break down each of your expenses into monthly, quarterly, and irregular categories. Aim to allocate 50% to necessities like rent and utilities, 30% to savings and debt repayment, and 20% to discretionary spending like groceries and restaurants. (Hint: the last category is where you should be cutting if you’re in debt!).

Reconsider that auto loan.

Multi-year car loans are a thing of the past. Instead of buying or leasing a car, consider Fair. They let you drive a car for as long as you want for an all-in monthly payment and cancel at any time, with no long-term commitment. Limited warranty, roadside assistance, and routine maintenance are included in the monthly fee, and you can do the whole process from your phone. Buh-bye, auto loan!

Start that side hustle you’ve been dreaming of.

Need some extra cash? Now’s the time to burn that midnight oil on your side gig. Or, if the startup costs are too high, there’s no shame in a part-time gig game. Your goal here is to get out of debt as fast as possible, so put in the work after-hours however makes sense for you!

Make your credit debt work for you.

Let’s talk dirty: Credit card debt is not ideal. But for many of us, it’s a reality. First things first: Call your card company and ask for lower rates on your cards while you pay them off. It doesn’t hurt to ask! If you’re not able to get a low enough interest rate, look into a balance transfer to a zero-interest card and make a “get out of debt” plan that allows you to pay off your card by the time the no-interest promotion ends.

Apply the debt ladder strategy.

If you’re in debt on more than one account, start by paying off the balance on the highest-interest rate account while paying the minimums on your other accounts. When that account is paid off, move on to the next-highest interest rate, and so forth. This method, while at odds with the debt snowball method of debt repayment, allows you to get out of debt while paying the least interest possible. Repeat it until all of your debts are paid off, and then…

Stick to your budget! The only way to stay out of debt is to plan to stay out of debt. So ditch that auto loan, call those credit card companies, and keep yourself in check. Happy planning!

This post was published on May 27, 2019, and has since been updated.

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Hey, Tech Savvy Self-Starters! Here's What to Expect at Our Money Moves Digital Summit

Photo: Angelica Marie Photography

One word we've heard a lot over the last few weeks is PIVOT! The world has changed, the way we do business has changed, and now, more than ever, we need to come together as a community. We’ve been spending a lot of time at Create & Cultivate brainstorming ways we can show up and support you during this uncertain time. Community is at our core, and connecting with others through one-of-a-kind experiences is what we love to do. 

And while the world has changed, our mission has not. We’re committed to helping women create and cultivate the career of their dreams, which is why we’re proud to host Money Moves Summit, our first-ever digital conference to help small business owners build, grow, and pivot in the new normal. We always bring our A-game but our lineup is stacked—Chelsea Handler is taking the virtual stage to buoy our spirits and get real about her career highs and lows, staying positive in a pandemic, and why humor is the best coping mechanism. You don’t want to miss this one! 

Read on to discover everything we have in store for this jam-packed day and get your ticket ASAP!

THE DATE

Saturday, May 2nd, 2020

TUNE IN FROM HOME

First things first! On the morning of the summit, Saturday, May 2nd, an email with your link and password to access the exclusive Money Moves Summit site will be waiting in your inbox. 

Money Moves Summit is made up of pre-recorded video sessions and live video sessions that will be hosted via Zoom. We recommend that you have a strong WiFi connection and find a comfortable place to tune in from home. Money Moves is optimized for desktop, so it is best viewed via a computer or laptop, rather than a tablet or phone.

While the live content is specifically designed to be watched in real-time, you’ll be able to access and view it for 72 hours after the event (Insiders, you have all-access even after the 72-hour cutoff!).

C&C INSIDERS’ PERKS

Our Insiders get a ton of perks at all our events—and our Money Moves Summit is no exception. As an Insider, you get free admission to our Money Moves Summit and you’ll have access to all of the panels and keynotes after the 72-hour cutoff via your C&C Insiders dashboard. 

Not an insider yet? Well, don’t miss out—you can sign up here. 

THINGS TO PREP AHEAD OF TIME

Here are a few things to prep before the big day so it goes off without a hitch:

• Install Zoom on your desktop computer or laptop and test it out

  • Zoom tips:

    • Find a quiet place to tune in. Try to situate yourself in a small room that does not have an echo. 

      • Try and stay away from noisy electronics and silence your cell phone and computer notifications

    • When possible, limit your internet connection to solely the device you’re using for the Zoom conference.

      • Set your phone to airplane mode, pause your television connection, ask others in your home to pause anything that may require a strong internet connection, etc. 

• Make sure you have a strong WiFi connection.

• Download the workshop downloads so you can follow along with the expert. Your exclusive workshop downloads will be available on Saturday, May 2. Be sure to download them ahead of the workshops so you can follow along in real-time.

• Grab a notebook and a pen—and keep your headphones handy just in case your roommate has other plans for the day!

• Jot down any questions you have for the live workshops and mentor sessions.

• Set aside your athletic gear and your mat (or towel) and fill up your water bottle for our morning moves session with Melissa Wood Health. (No equipment needed!)

• Gather the ingredients for the happy hour cocktail workshop. (Recipe in the section below!)

THE SCHEDULE

Money Moves Summit is built just like our in-person conferences, which, of course, you all know and love. We have a stacked schedule with an A-list line-up of speakers, so we suggest taking notes along the way. 

Want the full lineup? Check out the play-by-play schedule to map out your big day. It’s going to be HUGE so we recommend getting a head start on planning out your day now. 

Morning Welcome with Jaclyn Johnson, CEO and founder of Create & Cultivate 

8:50 AM - 9:00 AM PDT

Get Up & Go: A light workout to get your morning moving

9:00 AM - 9:30 AM PDT 

*Watch whenever*

Expert:

Melissa Wood-Tepperberg | Founder, Melissa Wood Health

Morning Moves: Intention setting for the day ahead

9:00 AM - 9:30 AM PDT 

**Watch LIVE**

Expert: 

Koya Webb | Celebrity Holistic Health Coach and Author of “Let Your Dreams Make You Fierce”

Morning Keynote Conversation

9:30 AM - 10:00 AM PDT 

*Watch whenever*

Panelist:

Payal Kadakia | Founder & Executive Chairman, ClassPass

Moderator: 

Jaclyn Johnson | CEO and Founder of Create & Cultivate

Financial Workshop Powered by SoFi

Get Your Money Right™: Financial Strategies That Aim to Help Your Business Thrive

10:00 AM - 11:00 AM PDT 

*Watch whenever*

Expert:

Lauren Anastasio | Financial Planner, SoFi 

Your exclusive workshop download will be available on Saturday, May 2. Be sure to download it ahead of the workshop so you can follow along in real-time.

Mid Morning Keynote Conversation

10:30 AM - 10:50 AM PDT 

*Watch whenever*

Panelist:

Shay Mitchell | Founder and Chief Brand Officer, Béis 

Moderator: 

Jaclyn Johnson | CEO and Founder, Create & Cultivate

Roundtable Conversation

The state of content creation in COVID-19: How brands and creators are pivoting in this new era of marketing

10:50 AM - 11:35 AM  PDT 

*Watch whenever*

Panelists:

Marianna Hewitt | Co-Founder, Summer Fridays

Lauren Bosworth | Founder & CEO, Love Wellness

Courtney Quinn | Content Creator, Color Me Courtney

Marie Forleo | CEO & #1 NYTimes Bestselling Author, Everything is Figureoutable

Moderator: 

Reesa Lake | Partner and Executive Vice President, DBA

Roundtable Conversation Powered by Mastercard

Small Business Brainstorm: A meeting of the minds to chat through the state of being a biz owner

10:50 AM - 11:35 AM PDT

*Watch whenever*

Panelists:

Sonja Rasula | Founder, Unique Markets

Sarah Larson Levey | Founder and CEO, Y7 Studio 

Tonya Rapley | Entrepreneur & Bestselling Author   

Paige Midland | Owner and Buyer, Midland

Ginger Siegel | North America Small Business Lead, Mastercard

Moderator:

Sacha Strebe | Editorial Director, Create & Cultivate

Fireside Chat Sponsored by Dell Technologies

Post COVID-19: How do we lay down the foundation for success moving forward

11:35 AM - 12:05 PM PDT

*Watch whenever*

Panelist:

Cyndi Ramirez | Founder & CEO, Chillhouse

Moderator: 

Jaclyn Johnson | CEO and Founder of Create & Cultivate 

 Workshop

Organization tips for WFH while in quarantine to stay productive and focused

11:45 AM -12:15 PM PDT

*Watch whenever*

Experts:

Clea Shearer and Joanna Teplin | Founders, The Home Edit

Your exclusive workshop download will be available on Saturday, May 2. Be sure to download it ahead of the workshop so you can follow along in real-time.

Fireside Chat Powered by Bümo

Mama to Mama: Surviving and thriving during the stay-at-home order

12:05 PM - 12:30 PM PDT

*Watch whenever*

Panelist:

Chriselle Lim | Influencer & Entrepreneur, Bümo

Moderator:

Sacha Strebe | Editorial Director, Create & Cultivate

Mentor Session

Live mentor sessions with experts who will be answering your questions in real-time via Zoom webinars

12:30 PM - 1:30 PM PDT

**Watch LIVE**

Mentors:

Arian Simone | Founder & CEO, Fearless

Maxie McCoy | Author, "You're Not Lost"

Jaime Schmidt | Founder of Schmidt’s Naturals and author of “Supermaker: Crafting Business on Your Own Terms”

Carolyn Rodz | CEO and Founder, Alice

Ginger Siegel | North America Small Business Lead, Mastercard

Katia Beauchamp | Co-Founder, Birchbox

Kristin O’Keeffe Merrick | Financial Advisor at O'Keeffe Financial Partners LLC

Wellness Session

Vision boarding and goal-setting for post-quarantine

1:30 PM - 2:00 PM PDT

*Watch whenever*

Expert: Camille Styles | Founder and Editor-in-Chief, CamilleStyles.com

Your exclusive workshop download will be available on Saturday, May 2. Be sure to download it ahead of the workshop so you can follow along in real-time.

Pitch Competition

Three finalists pitch to win $10,000 for their small business. Each finalist gets 6 minutes to pitch and 4 minutes to answer questions from the judges—ready, set, go!

1:35 PM - 2:05 PM

**Watch LIVE**

The Finalists:

To be announced!

The Judges:

Maxie McCoy | Author, "You're Not Lost"

Jaime Schmidt | Founder of Schmidt’s Naturals and author of “Supermaker: Crafting Business on Your Own Terms”

Alli Webb | Founder, Drybar

Arian Simone | Founder & CEO, Fearless

Ginger Siegel | North America Small Business Lead, Mastercard

Financial Workshop Powered by Ally

Plan It Forward. Prepare For Your Best Financial Future.

2:15 PM - 3:15 PM PDT

**Watch LIVE**

Experts:

Lindsey Bell | Chief Investment Strategist, Ally Invest

Emily Shallal | Sr. Director for Consumer Strategy and Innovation, Ally Bank

Your exclusive workshop download will be available on Saturday, May 2. Be sure to download it ahead of the workshop so you can follow along in real-time.

Roundtable Conversation

A conversation on how brands should be spending their marketing dollars during this time

3:00 PM - 3:30 PM PDT

*Watch whenever*

Panelists:

Tera Peterson | Esthetician & Co-Founder of NuFACE

Mari Mazzucco | Influencer Marketing & PR, OLLY

Steph So | VP of Digital Experience, Shake Shack

Nancy Twine | Founder & CEO, Briogeo

Cheryl Guerin | EVP, North America Marketing and Communications, MasterCard

Moderator:

Sherry Jhawar | Co-Founder and President, Blended Strategy Group

Workshop

From 0 to 100k: How to grow your following on a platform quickly and with authenticity

3:25 PM - 3:55 PM PDT

*Watch whenever*

Expert: 

Natalie Ellis | CEO & Co-Founder of BossBabe

Your exclusive workshop download will be available on Saturday, May 2. Be sure to download it ahead of the workshop so you can follow along in real-time.

Afternoon Keynote

On pivoting and remaining positive as a business owner

3:30 PM - 4:00 PM PDT

*Watch whenever*

Panelist:

Bobby Berk | Interior designer and star of Netflix’s “Queer Eye”

Moderator:

Sacha Strebe | Editorial Director, Create & Cultivate

Digital Deep Dive

A conversation on the 5 things you need to know when transitioning your business to digital with Jenna Kutcher

4:00 PM - 4:30 PM PDT

*Watch whenever*

Panelist:

Jenna Kutcher | Podcaster and Virtual Business Coach

Moderator: 

Jaclyn Johnson | CEO and Founder of Create & Cultivate 

Wellness Session

Staying sane in small spaces and the hacks you need to thrive

4:05 PM - 4:35 PM PDT

*Watch whenever*

Expert:

Whitney Leigh Morris | Creator, Tiny Canal Cottage

Your exclusive workshop download will be available on Saturday, May 2. Be sure to download it ahead of the workshop so you can follow along in real-time.

Roundtable Conversation

The Three Rs: How to respond, recover, and reset to emerge stronger through the COVID-19 crisis

4:15 PM - 5:00 PM PDT

*Watch whenever*

Panelists:

Rachel Tipograph | Founder and CEO of  MikMak

Sarah Kunst | Managing Director, Cleo CapitalJeni Britton Bauer | Founder and Creative Director of Jeni's Splendid Ice Cream

Denyelle Bruno | President and CEO of Tender Greens

Babba Rivera | Founder of ByBabba 

Moderator:

Sacha Strebe | Editorial Director, Create & Cultivate

Roundtable Conversation

How the C-suite is coping with COVID-19 and what their strategy is for moving forward

4:15 PM - 5:00 PM PDT

*Watch whenever*

Panelists:

Ariel Kaye | Founder & CEO, Parachute

Alli Webb | Founder, Drybar

Morgan DeBaun | Founder & CEO, Blavity

Rebecca Minkoff | Founder, Rebecca Minkoff & The Female Founder Collective

Moderator: 

Jaclyn Johnson | CEO and Founder of Create & Cultivate 

Evening Keynote

5:00 PM - 5:30 PM PDT

**Watch LIVE**

Panelist:

Chelsea Handler | Comedian, Bestselling Author, & Activist

Moderator: 

Allison Statter | Co-Founder & CEO, Blended Strategy Group

Cocktail Workshop

Time to celebrate your successes! Join us for a cocktail workshop with one of your favorite influencers.

5:30 PM - 5:40 PM PDT

*Watch whenever*

Experts:

Adrianna Adarme | Founder, A Cozy Kitchen

Cassie Winslow | Founder, Deco Tartelette

Recipe: Pink Grapefruit and Chamomile Palomas from Floral Libations by Cassie Winslow

Makes 1 Cocktail

Ingredients:

½ tsp Rose Salt (recipe below) or coarse salt

1 lime or grapefruit wedge

Ice Cubes

¼ cup [60 ml] fresh Ruby Red grapefruit juice

2 Tbsp Chamomile Simple Syrup (recipe below)

¼ cup [60 ml] tequila

Splash of soda water

½ tsp freshly grated orange zest

Fresh organic chamomile flowers for garnish (optional)

1 grapefruit slice for garnish (optional)

Rose Salt

Makes approximately ¾ cup [5 g]

Ingredients:

¼ cup [5 g] dried rose petals

½ cup [100 g] fine sea salt

Directions:

In a food processor or spice grinder, grind the rose petals for about 10 seconds until the rose petals resemble small flakes. Be sure not to grind them into a powder.

In a small bowl, stir together the salt and rose petals. For optimal flavor, wait about 1 week before use. Store in an airtight container at room temperature for about 1 year.

Chamomile Simple Syrup

Makes approximately 1 cup [240 ml]

Ingredients:

1 Tbsp dried chamomile flowers (or 1 bag chamomile tea)

1 cup [200 g] cane sugar

½ cup [120 ml] filtered water

Directions:

In a saucepan, stir together chamomile flowers or 1 tea bag, sugar, and water, and cook over medium heat. Simmer until the sugar has completely dissolved and the mixture has thickened into a syrup, about 5 minutes. Remove from heat and allow to cool.

Strain the mixture through a fine-mesh sieve set over a bowl, then transfer to an airtight container. Store in the refrigerator for up to 1 week.

Recipe: Frozen Strawberry Margaritas from A Cozy Kitchen by Adrianna Adarme

Serves 2  

Ingredients:

1/4 cup water 

1/4 cup granulated sugar  

Kosher salt, for rim 

6-8 ounces tequila blanco 

2 ounces triple sec  

2 ounces lime juice  

2 cups frozen strawberries 

1 cup ice  

Directions:

In a small saucepan, set over medium heat, add the water and sugar. Mix and warm until the sugar has dissolved. Remove from the heat and allow it to cool, about 5 minutes. 

Add about 2 to 3 tablespoons kosher salt to a shallow plate. Run a lime wedge around the rim of both of your glasses. And then dip them in the salt and set aside. 

In a blender, add the simple syrup, tequila blanco, triple sec, lime juice, frozen strawberries and ice. Blend until smooth, about 1 minute. Divide amongst the two glasses and serve. 

Recipe Notes: 

Tequila: Use 6 ounces of tequila if you’re a lightweight and don’t love the flavor of tequila. If you’re a tequila lover, use 8 ounces in this recipe. 

Strawberries: You can use fresh strawberries if you like. Freeze them on a baking sheet for at least 2 hours. And then you can transfer them to a freezer-safe bag/container until you’re ready to use them. 

Music Session

10-minute Q&A followed by an exclusive three-song live performance!

5:40 PM - 6:10 PM

**Watch LIVE**

Artist:

Lennon Stella | Singer & Actress

Thank You & Pitch Contest Winner Announcement

6:20 PM - 6:30 PM PDT

GET SOCIAL

Stay tuned for exciting announcements and updates by following along on our social at @createcultivate. Tag @createcultivate and use the hashtag #CCMoneyMovesSummit for the chance to be featured in our Instagram Stories throughout the day!

Networking is a huge part of our event and our Create & Cultivate Money Moves Summit Attendees Slack Workspace is a great place to mix and mingle with your fellow Create & Cultivators before, during, and after the big day. We’ve created channels for every workshop and panel, as well as channels for international attendees, networking, and more!

TECHNICAL DIFFICULTIES?

Live chat with a C&C specialist on CreateCultivate.com. You’ll see a “Chat With Us” pop-up in the bottom right corner of your screen.

WE ARE SO EXCITED TO SEE YOU ONLINE! Who are you most excited to hear speak? Share in the comments below!

MORE ON THE BLOG

Ask an Expert: Jaclyn Johnson on Pivoting to Digital, Managing Cashflow, and Being Transparent During COVID-19

We’ve been spending a lot of time at Create & Cultivate HQ discussing how we can best show up for and support our community during this uncertain time. Community is at our core, and connecting with others through one-of-a-kind experiences is what we love to do. While the world has changed, our mission has not. We’re committed to helping women create and cultivate the career of their dreams, which is why we’re proud to announce our new Ask an Expert series. We’re hosting live discussions with experts, mentors, and influencers daily at 9 am, 12 pm, and 3 pm PST on Instagram Live to cure your craving for community and bring you the expert advice you’ve come to know and love from C&C. Follow Create & Cultivate on Instagram, check out our Ask an Expert highlight reel for the latest schedule, and hit the countdown to get a reminder so you don’t miss out!

Photo: Create & Cultivate

Our very own Jaclyn Johnson, the founder and CEO of Create & Cultivate, went live on SoFi’s Instagram this morning to talk all things pivoting in the time of COVID-19. In conjunction with Create & Cultivate’s daily Ask an Expert series, she joined SoFi spokesperson and career expert Ashley Stahl to chat through everything quarantine has meant for her small businesses (aka Create & Cultivate) and her employees.

Jaclyn talks community, the upcoming digital Money Moves Summit, and ways you can set yourself up for success post-COVID. Whether you are a business owner, just got laid off, or have a business you want to launch, Jaclyn has guidance for you. Read on for all the highlights and some killer advice on how you can come out on the other side of quarantine as your best self (without learning how to bake bread).

On pivoting…

“I think we’ve officially adjusted to the new normal.”

“As an event focused company, we had to pivot quickly to the digital realm.”

On advice for business owners feeling unsure…

“Before doing anything drastic, give it a beat. We’re in the middle of a transitional period where we’ll know more in two or three months where the market is going, where the trends are going, and what will be happening.”

“Number one, take a look at your business: Are their ways to transition into a digital world? If there is, double down on that. Think about what’s working and put all your energy into that.”

“Think about how you can move quickly and nimbly in this environment to keep money coming in.”

On how to nurture community…

“When it comes to community, it’s challenging. You don’t want to come off as ‘buy, buy, buy,’ but the reality is we’re in an economic situation where we need to be supporting small business owners and we need to be a part of that conversation.” 

“It’s important to be authentic and to be vulnerable. Now is not the time to be like, ‘We’ve got it all figured out, we know exactly what’s going on.’ It’s about finding a way to be there for your community in a way that’s impactful and informative, but also realistic because everyone is going through it.”

On employee relations…

“It’s really important to be transparent about what’s going on and be over communicative and let them know that you’re figuring this out as well but keeping that line of communication open.”

“We have to shift the way we think, we have to shift the way we’re doing business. So really allow your team to bring ideas to the table.”

On navigating furloughs and layoffs…

“You don’t want a lot of voices in the room when it comes to decisions like this. It can be even harder to navigate these conversations.”

“This is, hopefully for a lot of people, a temporary situation. So, if you are on the other side of this, don’t take this personally as a ‘career fail’ this is a pandemic that we’re dealing with.”

“It’s about having your employees understand how the government can support them as well.”

“We’ll be coming back from this and businesses will want to hire because they will be incentivized to hire.”

On transitioning to online…

“What we’ve found is that people are spending so much time online and they want to better themselves.”

“People are trying to improve themselves through online content.”

“Everyone should be asking for help during this time.”

On keeping money in your business...

“One, look at your accounts receivables and see where you’re at with that—and look at what your late fees are if people are overdue to maximize that money that’s coming in. Two, think about, ‘Where am I spending each month and where can I reduce this cost?’ For us, there were things we used for events like Spotify and Rent The Runway that got nixed. We put everything on hold in that space. Three, cash flow is really important right now. Think about how you can make incremental dollars without spending on talent or consultants or whatever it may be.”

“One thing we’ve really doubled down on is Instagram ads because usually when you spend money on those you can make money. Think about how you can maximize your ad spend.”

“It’s about being really conservative with your cash flow right now.”

On the Money Moves Summit…

“The Summit is all about pivoting in the new normal. So, it’s about entrepreneurs, business owners, freelancers, creatives, or someone who got furloughed or laid off. It’s really for anyone who is looking to thrive, not just survive, post COVID-19.”

“Our event is $29.99 and all the proceeds are going to a grant for a small business owner. That is something we wanted to do not only because of what’s happening in the world but we wanted to give back to our community in some way.”

On providing value while working from home…

“I think what is important is being proactive and bringing things to the table. If you feel like you’re not getting your message across, create a list of the things you’ve got done or that you think we should be doing. Be proactive about it.”

On reconnecting with your purpose…

“What has historically happened in times like this is innovation, which is an exciting good thing that we can look forward to.” 

“Use this time to think about what are people going to need coming out of this? Where is there space in the market? Where is there white space to take advantage of and that you can build something for? Also, what excites you and makes you happy?”

On making big changes…

“Think about what you want and then make a 6-month road map.”

“I don’t think now is the time to make rash moves. I think being strategic makes a lot of sense. But it’s important to look at things that aren’t working.”

On setting the foundation for a brand…

“I always say, ‘Think of your full-time job as your investor in your company.’ Look at your paycheck and see what you can put toward your next venture, and then understand what you need for a three-to-six-month runway for your business.”

“Start planting seeds, see what’s out there, see if there is interest.”

“Don’t launch a replica of what someone else is doing. Think through how you can put a spin on it or make it uniquely yours. Or look at what someone is offering and look at what is missing.” 

“You cannot go into anything thinking, ‘What if,’ you have to go in thinking, ‘What’s next.’”

On the best thing to do for your business right now…

“Take a deep dive into your customer. See what they like, what they’re reacting to. I think this is a great time to poll your audience. Learn about your audience and what they want.”

On partnership and sponsors…

“Sponsorship is tricky right now. The people I am reaching out to right now are people I have really good relationships with, people I have worked with a couple of times or known for years.”  

On generating creativity…

“Set up fun activities for yourself like a wine and paint night or gardening. It’s about taking time to enjoy little moments.”

“I think it’s important to manifest the future.”

Tune in daily at 9 am, 12 pm, and 3 pm PST, for new installments of Ask an Expert. 

Follow Create & Cultivate on Instagram, check out our Ask an Expert highlight reel for the schedule, and hit the countdown to get a reminder so you don’t miss out. See you there!

Ask an Expert: Here Are 7 Things a Financial Expert Says to Do to Prepare for COVID-19

We’ve been spending a lot of time at Create & Cultivate HQ discussing how we can best show up for and support our community during this uncertain time. Community is at our core, and connecting with others through one-of-a-kind experiences is what we love to do. While the world has changed, our mission has not. We’re committed to helping women create and cultivate the career of their dreams, which is why we’re proud to announce our new Ask an Expert series. Starting today, we will be hosting discussions with experts, mentors, and influencers daily at 9 am,12 pm, and 3 pm PST on Instagram Live to cure your craving for community and bring you the expert advice you’ve come to know and love from C&C. Follow Create & Cultivate on Instagram, check out our Ask an Expert highlight reel for the latest schedule, and hit the countdown to get a reminder so you don’t miss out!

Photo: Courtesy of Kristin O'Keeffe Merrick

Needless to say, the coronavirus outbreak has financially impacted businesses both large and small and employees and employers alike. With the OECD cutting global economic growth projections in half, the JPMorgan Global Manufacturing Purchasing Manager’s Index (PMI) falling to its lowest level since 2009, and U.S. stocks having their worst day since the 1987 stock market crash, it’s safe to say money anxiety is at an all-time high.

To help assuage our financial fears, we tapped money expert and financial advisor Kristin O'Keeffe Merrick, a financial advisor at O'Keeffe Financial Partners,  for the first-ever installment of our Instagram Live series, Ask an Expert. She answered all our burning money questions in the wake of the coronavirus, including, how to cut unnecessary spending from your budget and how to fund your small business after you've maxed out all your credit cards.

Read on for seven things you can do right now to feel financially stable, and be sure to tune into our next Ask an Expert conversation with Jamie Lieberman, attorney and founder of Hashtag Legal, on force majeure and if you can get out of a contract due to unforeseeable circumstances, tomorrow at 9 am PST on Instagram Live. Trust us, you won’t want to miss it!

1. Take stock of your subscription services.

“If you haven’t used your Hulu subscription by day four of self-isolating, you probably don’t need it. If you’re in a cash crunch, consider canceling or putting subscriptions you’re not using right now on hold."

2. File your taxes.

“If you’re worried about a cash crunch and you might be in line to get a refund, file your taxes early. If you’re a freelancer or an entrepreneur, you might need some liquidity right now, so think about filing now to get that refund.”

3. Make an IRA contribution.

“If you have a high risk tolerance for investing, put your IRA money to work.” (Note: If you’re a first-time investor, you should seek out professional advice before taking action here.)

4. Pay off debt.

“If you’re still getting a regular paycheck, use this as an opportunity to pay off some debt and put some money into an emergency fund.”

5. Start a savings account.

“One of the silver linings is that we’re not going out and spending money on drinks/dinner/coffee. Consider moving the money that you’d normally be spending to live and enjoy your life to a savings account or an emergency fund.”

6. Create a budget.

“Think about your fixed and variable costs. Fixed costs are things that won’t go away no matter what: your rent, car insurance, utilities, mortgage, etc. To look at your variable costs, pull up you bank and/or credit card statements for the last three months, and look at how you’re spending your money. Think about where your money goes and why you can’t save money; think about all the things you can lower and ways to allocate ways to save money.”

7. Read books that can help you get more financially savvy.

“If you’re looking to get more financially savvy, there’s no better time. One of the few money books I love is You Are a Badass at Making Money. Don’t overwhelm yourself with info, but use this time to get familiar with financial terms or investment terms.”

About the Expert: Kristin O’Keeffe Merrick is a money expert and financial advisor at her family-run firm, O'Keeffe Financial Partners, based in Fairfield, NJ. Kristin has over 19 years of investment experience, having spent the first part of her career as currency trader, and serving most recently as Vice President at Morgan Stanley. She has contributed to Forbes, CNBC,NY Magazine, Girlboss, Hey Mama, My Domaine, and Coveteur. She is a frequent guest on the Today Show, the NBC Nightly News and Yahoo Finance. Kristin was also recently named as 2020 Badass 50 by InStyle Magazine.

Tune in daily at 9 am, 12 pm, and 3 pm PST, for new installments of Ask an Expert.

Follow Create & Cultivate on Instagram, check out our Ask an Expert highlight reel for the schedule, and hit the countdown to get a reminder so you don’t miss out. See you there!

Sharing Finances? Here Are 5 Ways to Do It Right

Photo: Retha Ferguson for Pexels

In April of 1975, Judy Hendren Mello created the First Women’s Bank in Manhattan.

It was the first bank in the United States to be run by and operated for women, during a period where women were highly discriminated against by banks. (Fun fact: Betty Friedan had an account there.) Just one year prior, banks required single, widowed, or divorced women to bring a man to co-sign any credit application, regardless of their income.

Thankfully, much has changed since then, and more women are household breadwinners than ever before, as well as finding ways to to split costs with their partners. Given that wedding season is rapidly approaching, we figured there’s no better time to break down five different approaches to sharing finances that have worked well for couples.

The 2:1 Approach

This is a scenario in which you keep most of your finances separate, but have one joint account you both contribute to equally.

You can choose to contribute a dollar amount or a percentage of monthly earnings to that account. With one joint account, you are taking baby steps to trusting your significant other with your money. You get to see how they spend and if you’re comfortable giving them purchasing power with your hard earned cash.

Most often, couples who live together and are fairly evenly matched when it comes to income and debt favor this approach. That way the joint account is what you use for household purchases—everything from toilet paper to a new couch.

The Solo Dolo

Some couples keep all finances separate, and it works for them. If each of you are financially independent, have no desire to share finances and would rather split household expenses in a way that makes you the most comfortable, this is an easy option.

Sometimes that means splitting things 50-50. Sometimes that’s not the case. If it’s not, we suggest having a conversation, especially if one side of the equation makes a significant amount more. What you don’t want is to commit to a living or a financial situation where you feel taken advantage of, or where you resent how much the other person is making and contributing.

If you really like keeping everything solo, but your incomes are vastly disparate—we suggest the next approach to avoid future disagreements.

The Pick-and-Choose

This approach is best for couples who share everything, except comparable salaries. When you don’t want to let one person “handle it all” (which, is certainly another way to go), but rather want each party to contributing their “fair share,” each person picks certain bills and expenses.

These don’t have to be equal shares.

For instance, if you own a house together, one person pays the mortgage and the other fills the fridge. Or perhaps, one of you pays the rent and the other handles electric, gas, and the WiFi situation.

This works for both unmarried and married couples. The most important part of this arrangement, is that each person is getting a fair shake, not a shake down.

With the pick-and-choose, and all the above options, individual debts remain the responsibility of the indebted, however, this could (and often should) be considered when splitting up costs.

The Spend One, Save One

This is an interesting approach being taken by couples who have not yet made those major life purchases, but are working toward them.

They will live on one salary—typically the larger—and save the entirety of the rest. This is also a useful approach for couples who haven’t yet been able to put away that rainy day money or save for retirement. It typically involves living below your means, but is a smart investment to make in your future.  

The Merge It All

This is an approach most often used by married couples who combine their lives, finances and all, entirely. Most often, neither party is entering into the marriage with significant assets—like a house—as this is a purchase that will be made together. Or debts, like student loans, that need to pay off.

However, even within “merge it all” it isn’t uncommon for couples to share one joint account while keeping individual checking accounts. What you put into those individual accounts? It varies. Bonuses or checks from grandma and grandpa could be considered “fun” individual money. Cash that doesn’t have to go toward life expenses and allows each person to feel like they’ve got some disposable income.

This post was published on May 23, 2017, and has since been updated.

Download Alert: This Genius App Will Change the Way You Buy a Car (It's So Easy)

This post is in partnership with Fair.

Photo: Courtesy of Create & Cultivate

Making big decisions isn’t easy. Especially the ones that involve long term commitments—like picking a new home, selecting a new job, and buying a new car. These decisions hold a lot of weight because of their lengthy processes and the anticipation of commitment. Even if you’re not a “commitment-phobe”, there’s always a lot to consider before spending a significant amount of your hard-earned money.

If only the "big” decision-making processes were made easier, then the stress tied to them would lessen, and the barriers to entry would also be lowered—that’s the ideal combination, right? Well, in our quest to simplify, we came across a solution for one big decision we all dread: buying a car. Skip the fluorescently-lit car dealerships with their burnt coffee and long wait times—the answer is in the palm of your hand—say hello to Fair.

Fair is the new subscription service that is changing the way we buy cars. This easy-to-use app allows you to find the used car you’ve always dreamed of in one convenient app. You can buy a car without even having to leave the comfort of your couch and it takes the commitment out of the car-buying process (you can kiss car loans and leases good-bye!).

Fair’s version of car buying really lives up to its name. Now you’ll never be stuck with a car past its expiration date. Bottom line: you can get a car when you want, for as long as you want, and turn it back in at any time—no strings attached. Sounds too good to be true, we know.

But just when you thought it couldn’t get any better, we’re going to remind you that a Fair subscription includes a limited warranty, roadside assistance, and routine maintenance too. Is this deal not sweet enough for you? How about this: when you get a car to drive for Uber, you pay even less. Crazy right? Well, let’s take you through the app’s interface to show you how good life can be as a Fair user.

Here’s how it works:

Step 1: Download the app and pick your use preference

Step 2: Create your account and scan your driver’s license

Additional info like your social security number and proof of address may be necessary.

Step 3: Start browsing through cars

You can search through anything from price to brand and ❤️ your favorites along the way.

Step 4: Find the car of your dreams!

Once you’ve found the one, you can pick it up or even have it delivered to you!

Step 5: Drive worry-free and turn your car in whenever you’re done!

Car buying has literally never been so easy. Though it sounds too good to be true, it isn’t. Fair is a hot ticket item because of its convince as well as its trustworthiness. Try it yourself and see what all the fuss is about—you’ll thank us later.

This Is How You Celebrate a Raise Without Offending Anyone

Celebrating a raise is not like celebrating your birthday—you can’t invite everyone to the party. But after months—years, even—of hard work, how do you give yourself a well-deserved pat on the back without making others feel less than stellar about their own work? Promotions at work are public knowledge, and most co-workers will be happy for your deserved success. However, raises, bonuses, and the like, are often not shared for understandable reasons.

Here’s how to celebrate your well-deserved success without bumming out the person typing away next to you at work.

USE DISCRETION 

There are people in your life who will always be happy for you, but total transparency when it comes to talking money with co-workers is tricky. It’s also still considered taboo in most workplaces. There are parity arguments to be made for salary transparency, but things can get awkward pretty fast when co-workers find out you’re making more than them. Even if it is deserved, you don’t want to become the pariah of the coffee pot talk.

"Things can get awkward pretty fast when co-workers find out you’re making more than them."

Tweet this. 

If there is someone in your office with whom you engage in reciprocal sharing, meaning you share you salaries with each other, then by all means share! Research has shown that transparency among female co-workers helps in salary negotiation.

However, you don’t want your salary to become the point of reference for raise meetings. (Nor should anyone use, "Well, I know that Jenny makes X,” as an argument for a pay increase.) Though perfectly legal, it may cause your boss to think you’re unprofessional and could affect future raises. There are subtle differences that contribute to pay variances, unseen by co-workers but acknowledged by bosses.  

If you decide to share, it’s like Pandora’s box: That information is out there and alive. There’s no telling who will find out or what damage it might do, and, ultimately, your boss is the one who has to deal with the aftermath.

DON'T SHARE ON SOCIAL

Sharing is caring—most of the time. If you and your closest head out to dinner and drinks to toast your successes, consider resisting the urge to share on social. Most of your co-workers, and likely your boss, follow you. While you should be able to revel in your raise, remember there are polite ways to do so.

If you do want to share, consider a post that toasts to all the successful women in your life. Post a specific honor or milestone you reached at work that’s not tied to a dollar sign. You should be proud of your hard work, but keep in mind whose eyes are on your social.

TREAT YOURSELF

But only once (okay, twice). You deserve to have a little fiscal fun, but you don’t want to celebrate your raise by upgrading your life. In fact, financial advisors agree that it is a mistake to upgrade as your salary increases. The best way to celebrate your raise is by banking on your future.

That means saving up for bigger life purchases. The average pay raise in both 2014 and 2015 was 3%, and 2016 is following suit. You may not be able to purchase a home by 30, but you definitely won’t be looking into mortgage options if your rent increases every time you are rewarded at work. Be smart. Be save-savvy. Get that bag you’re eyeing, and then plan on contributing more to your 401(k).

The original version of this article appeared on My Domaine.

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