My Top Ten Money Tips from Myleik Teele

Dear Dumplin,

I’m a Myleik Teele fan.  This month makes my three-year CurlBox subscriber anniversary and I am truly an admirer of Myleik and the CurlBox community.  I’ve listened to all of her podcasts, and I appreciate how open she has made herself to women in the spirit of mentorship and bringing people up with her.  She has answered over 1400 questions on Ask.FM, and continues to give herself to the community she built.  One thing Myleik is constantly questioned about is the money she has, the money she has made, and how she got funding to start her business.  She funded her business herself.  I repeat.  She funded her business HERSELF.  No venture capitalists.  No loans.  No rich parents. No sugar daddies.  Myleik created her business using nothing but her own savings and intelligence.  She has recently launched MyTaughtYou.com, an online hub encompassing all things Myleik Teele including mentorship, style, and advice.  Looking at the new site prompted me to go back and listen to some of her older podcasts.  I started to think of all the things I have learned from her about money.   Here are my top ten money tips from Myleik Teele:

1. Write it down.  It not only keeps you organized but allows you to see what you’ve accomplished and what you need to work on.  Keep “To Do” lists.
2. Stop buying cheap stuff.  It adds up and is a waste of money.  Quality over quantity is still the name of the game.  (This is something I am still working on.  It’s a bad habit I have.)
3. Get disciplined.  SERIOUSLY.  Being undisciplined affects every aspect of your life.  If you have a financial goal, only you can stop yourself or help yourself to get there.
4. Set up automatic savings and ignore the money as it grows.  You’ll be surprised at how much you can save by not having to think about physically moving money over yourself.
5. Change your mind, change your life.  Change your check to check mentality.  Think big numbers so that you can get to big numbers.  Being financially stable first starts with a mindset.  Check your thinking.
6. Don’t be emotional about money.  Be rational and be smart.  “Feelings are not facts.”  Look at the facts about your financial situation, make a plan, and move forward.
7. Have “F.U.” money.  It allows you to be free and prevents you from being abused in the name of money or financial stability.
8. Confidence comes from knowing how to do something well.  The same applies to money.  If you aren’t good at saving, find a system that works for you and keep at it until you get good.  As you see what you can do, you will build more confidence. This new confidence will allow you to accomplish more.
9. Invest in yourself.  “Spend money getting yourself to a place where you can earn more because you are worth more.  Go get the things that are going to make you shine from the inside out.”  If you need to learn about money, go find a class, seminar, webinar, or book.  Never stop learning.
10. What someone thinks of you is NONE OF YOUR BUSINESS.  If someone thinks you are broke, so what?  If someone thinks you can’t afford something, so what?  If someone doesn’t like you, keep it moving.  Don’t get distracted.  Keep your eye on the prize and you will achieve your goals faster.

I hopes this list helps you achieve some of your goals.  Let’s chat about this when the time is right.  And remember, excellence attracts excellence.

Love,
Mama