How to Clean Out Your Closet

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Dress shabbily and they remember the dress; dress impeccably and they remember the woman.
— Coco Chanel
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As I shared last week, confidence is super duper important when it comes to being financially successful. If you don’t feel confident, you won’t have the courage to ask for the raise or state your fee with a client. One of the best ways to boost your confidence is to wear clothes that you make you feel good.

You already know this to be true. If you’re feeling lousy one day, doesn’t your mood immediately change when you put on your favorite outfit? Not only does your mood change, but the people around you also respond differently to you.

Defining your fashion and style is part of the journey of being financially successful. I am currently working on mine and invite you to join the journey with me as I work with my wardrobe stylist, Andrea Faye. Keep reading for her tips on how to level up your sense of style.

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This upcoming year is going to be amazing because Danetha and I are joining forces to show you how to build your dream wardrobe. Between the two of us, we will not only show you how to up your style game as a professional, modern woman, but also, how to plan for it financially. As with any good habit, small changes add up to something great- so let’s move forward with this first set of takeaways.

As you may have read from last week’s Money & Mimosas, I started working with Danetha in strengthening her personal style. A great first step in honing in on your personal style is doing a “closet cleanse” which basically means gutting your entire wardrobe to only include items that are the strong points in your style.

Here are a few main points to consider in conducting a closet cleanse.

1. Empty out everything.

Seeing the contents of your closet outside of context will provide a new perspective for what you actually own. Between gifts, impulse buys, clothing that doesn’t properly fit but we still feel like keeping because we spent money on it, the list goes on… Once it’s out, you can face each item with a fresh point of view.

2. Organize your clothing by priority

Create four piles: definitely keep, maybe, donate, and throw away. Use this time as you organize to reflect on how each item makes you feel when you wear it. Any hesitation is a red flag that the item does not belong in your wardrobe. When you are done, the keep pile may be the smallest, but the positive side to this, is that the items that you do keep are the foundation to your style.

3. Think of yourself as a style icon

Reflect on the most stylish people throughout history. Despite a diverse array of personal styles out there, style icons have one main thing in common: a signature identity. The more you can define the key components of your signature, the more you can develop what it is about you that stands out. Not only will you feel more true to yourself, but you will also come across stronger to other people.

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4. Consider your lifestyle

Absolutely, you can be fashionable 100% of the time. The beauty of a well defined closet is having the variables of your multifaceted lifestyle come together and always be reflective of your individuality. Consider your activewear, loungewear, special events, work, social life, and even events that you wish to attend more of in the future.  If you have something that doesn’t represent that best version of you for each of those scenarios then toss it and we will upgrade over the coming year.

5. Design elements

If you are working with me on developing your personal style, we may identify your color palette and silhouette ahead of time. A smaller color palette (3-5 main colors) allows for more versatility when pairing items. Color is an important variable, but also, don’t forget to keep in mind prints, patterns, texture, and textiles in general. Consideration of details like these are what transitions a look from low end to sophisticated. I will cover more on this in the future both with Danetha and on my newsletter, but for now just start to wrap your mind around what type of details you are drawn too.

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6. This is self care.

Your closet may be a good point for self-reflection, but please, keep your eyes on the prize. You are doing this for yourself to become the best version of you. If anything makes you feel body conscious or brings up a memory of a fashion nightmare, anything, just acknowledge it and remind yourself from here on out we are going to up your style game. It can be hard to get rid of things for some, so imagine yourself with the wardrobe of your dreams because you can absolutely attain it.

And now I’d love to hear from you! How often do you clean out your closet? Let me know in the comments below.

If you’d like to learn more about working with Andrea, click here to apply for a consultation. Or if you have questions, you can reach out to her directly at

Want more money tips? Join our insider list.

P.S. Have you sent in your RSVP for our next Sip & Shop with the Socialites event? Click here to join the fun!

7 Reasons Why Every BOSS Needs a Wardrobe Stylist

I like my money right where I can see it: Hanging in my closet.
— Carrie Bradshaw

Oh, Carrie. How I love you. And while I would like to officially put on the record that from a pure mathematical perspective there are other, more financially savvy places where you could hang your money --- I ALSO know through every fiber of my being that money isn’t just about math.

Life has shown me time and time again, that being financially savvy is also very much about how you feel and the intention you have behind your money decisions.

I created Money & Mimosas, because I am passionate about learning how to make money work for me and sharing my insights with you. I learned at an early age that the system was not designed for you and me. This fact used to make me sad, then very angry, and now I feel energized by this process of discovery.

Here is what I know for sure- being financially successful has very little to do with mastering a cookie cutter formula, and A LOT to do with mastering your beliefs and behaviors around money.

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One of those beliefs that needs to be squashed is that you need to budget yourself to boredom and never ever spend money on anything remotely fun until you are 1000% out of debt, have a bajillion dollars saved for a rainy day and are at least sixty-two years old.

Ok, maybe that’s an exaggeration. But, the point is that learning how to enjoy your money and have fun with it, is an important step in BEcoming financially successful.

Please note that having fun with your money must be done with intention. Mindless spending will put you on a fast track to being financially miserable. And you have to be honest with yourself if you have a habit of mindlessly (or intentionally avoiding) making financial decisions.

Shopping is one of those money decisions that is shunned by the current financial paradigm. But, buying clothes in an intentional manner, is extremely important to you being financial successful. Why? Because adorning your body is a confidence booster. And confidence, dahling, is what you need to make that money. Yassss, girl.

But, not all of us are fashionistas. And for some, shopping for clothes can be overwhelming. And as busy boss ladies, we may not have the time.

That’s why I decided to work with a wardrobe stylist. I will be the first to admit that while I love clothes, shopping is not my favorite activity. Mostly because I never know what to buy, I end up spending way too much time in the store, and I’m not always sure which styles or colors best compliment my features.

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As any boss does, I decided to find an expert and asked for help. I partnered up with Andrea Faye, the boss behind Modern AF, who is a luxury fashion designer and stylist for busy boss ladies. After working with Andrea, I now feel super confident when choosing an outfit for any function. I’ll share more details about the work we did together. For now, here are seven reasons why every boss needs to work with a wardrobe stylist.

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Seven Reasons Why Every BOSS Needs to Work with a Wardrobe Stylist

  1. Understanding your skin tone. Working with Drea, I learned which colors highlight my undertones, making my skin glow. Versus which colors make my skin look dull and lifeless. With a stylist, you will learn which colors are your best friends and which ones need to go bye bye.

  2. Organization. A stylist will help you organize your thoughts around which outfits are best suited for which types of events. For me, my classic look at socializing events is the jumpsuit because you can dress it up or dress it down. But there are also fitness events, lounging around the house, where a jumpsuit may not be appropriate. Working with a stylist will help you think through which activities are consistent in your schedule and then determine which items you need in your closet for each of those functions.

  3. Body style. Have a hard time figuring out which style best suits your frame? Girl, you are NOT alone. It is really hard to objectively look at our beautiful bodies and know which apparel will fall the best upon it. A stylist can do that for you. And will be super loving about it, too!

  4. Your brand. Whether you run your business full-time, have a side hustle or are a freelancer, you have a brand. Your brand will attract clients and it’s important to attract the right ones. Your fashion is a big piece of your brand and a good stylist will help you look at your closet from this holistic perspective.

  5. Saves time. How often have you spent hours in a store or staring at your closet trying to find the perfect outfit for an event? Yea, it’s painful. After working with Drea, I now know how to plan outfits ahead of time for an event. Saving precious time that I can devote to the growing Money & Mimosas community.

  6. Saves money. This may seem counterintuitive, but once you know which clothes work the best for you, you can invest in classic, staple items that will last you for years to come.

  7. Confidence is priceless. Knowing what to wear, and feeling your best while wearing it, is priceless. We all want to feel confident in our skin- whether it’s during a mimosa date with the girls, a boardroom meeting, a client session, or on a date with our boo - and there is NO price tag you can put on that feeling.

And now I’d love to hear from you! Have you thought about working with a stylist? Why or why not? Let me know in the comments below.

If you’d like to learn more about working with Andrea, click here to apply for a consultation. Or if you have questions, you can reach out to her directly at

Want more money tips? Join our insider list.

7 Ways to Not Fall in More Debt This Holiday Season

Happy Holidays, friends. Tis the season for reflection (hopefully!) and shopping (most likely!).

It’s ok. We know you. And unlike other money blogs, we are not going to discourage you from shopping. However, let’s look at the facts.

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In the U.S., shoppers racked up an average of $1,054 of debt during the 2017 Christmas season — an increase of 5% over last year, according to a survey from MagnifyMoney, a personal finance website. According to their research,  44% of shoppers racked up more than $1,000 in holiday debt, and 5% accumulated more than $5,000 in debt.

Unfortunately for most, bouncing back from this debt will take several months. Less than 50% of these folks are expected to repay the debt within 3 months. While others, about 29%,  shared that they needed more than five months to pay it off. This leads to credit card interest and we all know that this add up very quickly.

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Let’s do a quick calculation! If your interest rate is 16% -  you spend $1,054, and paid a minimum payment of $25 each month….you would be paying down that balance until the beginning of 2024. A total of $1,600 on a $1,054 purchase.

Basically, you will spend the next five years paying off the holiday purchases you made this year. Do not do that to yourself! Instead follow our simple steps below so that you can have your cake and eat it too.

Or should we say, have your fur coat and wear it without having credit card debt, too.

Here are seven steps to help you not fall into more debt this holiday season.

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  1. Make a list of the folks you want to buy gifts for this holiday season. It’s easy to grab last minute items as you randomly see friends on your Facebook timeline or passing them on the street. Stop that. Create a concise list of friends and only buy gifts for them. Everyone else can receive lovely handwritten note.

  2. Set a budget for how much you will spend per person. Is it $50 per person? $100? $1,000?  Whatever it is, choose one amount and determine the total amount you have to spend. For example, if you have 10 friends on the list, and decide on $50 per person, then you have $500 to spend. No more.

  3. Hopefully you’ve been saving up this year for these purchases and won’t need to use your credit card. Ideally, I’d use a checking account,  like the Radius Hybrid Checking account, to save up for holiday purchases. This account allows you to earn interest on your balance. Versus other banks that offer ZERO interest. Pull that amount out in cash. Yes, just do it. Carrying a ton of cash on you may feel awkward, so you can also pull out the set amount per person each time you shop for them.

  4. Research ahead of time what you will buy for each person. Yes, we know you want to wait for inspiration to hit you while you’re in the store. But, let’s try something different this year and pre-plan the gifts. Cool? Great!

  5. If you are using your credit card, create a plan for paying off your holiday gifts within 30 days. Brainstorm ways to increase your income to make that happen (you can check out our 5 Side Hustles You Can Do From Bed post) or ways to decrease your expenses to free up some cash.

  6. If it’s going to take you more than 30 days to pay it off, then reduce the amount of money you are spending on gifts.

  7. Remember that gift-giving is one way to show that you love someone. Spending quality time either in person or during a phone call is another beautiful way to connect with friends. And it doesn’t cost you any money.


This post is sponsored by Radius Bank.
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Should you invest in a private jet membership?

Author: Amanda Shaffer

Have you ever dreamed of flying private? We know we do! Even Suze Orman, the famed personal finance advisor for America, spends half a million dollars every year to fly private. For ambitious, boss ladies like yourself with crazy schedules, flying private on the regular is definitely in your future. But, does it make more financial sense to own your plane or go for a membership? We did some digging to find out and this is what we found out!

More executives and entrepreneurs are tapping into private jet membership as it offers more value than owning a private jet individually. Investing in your own aircraft is like handling a business unit and if you are flying less than 300 hours in a year, it’s not a wise investment as mid-size jets were reported to cost annually at $1.2M according to Executive Jet Management.

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Forbes recently reported that the number of jet card providers has doubled in 2018. 35 providers with over 250 programs are now available for executives who want to fly privately. This membership also entails one to a shared jet ownership, so you’ll chip in with other co-owners on the maintenance needed for the jet when flying like charges on de-icing the aircraft when flying in winter. This process has an average hourly cost of around $1000-$4000 depending on the size of the jet, so you can cut down on your usual private jet charter costs.

Jet Card Membership a Worthy Investment

Aside from private jet membership, more jet charter brokers are also encouraging jet card membership. The amount deposited on your jet card account is also withdrawable for most private jet card providers subject to a few terms and conditions, so there’s assurance that your investment won’t go to waste.

Private Jet Membership versus Flying Commercially

If you’re frequent traveler flying commercial on a first-class setting, the average tickets cost about $1,300 and are subject to available flights and other exit fees which in the long run will cost you more than getting yourself an annual membership wherein you’re given access to all premium facilities at a fixed hourly rate.

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Ideal for First Time and Corporate Private Travelers

For entry-level flyers, choosing a jet card is a great way to save on hourly rates every time you fly. It’s also a plus to corporate travelers who want to stick to the budget since the card works as a prepaid account wherein you’ll deposit a set amount which is good for a few flight hours, so they don’t have to swipe for payment and incur extra fees along the way every time they opt to fly privately. Plus, rebates are offered every time you use it, so it lessens the cost of your next travel.

Innovation at Your Fingertips

Investing in a private jet membership is now made easier with private jet applications wherein you can sign in and request a jet and flight schedule within 10 hours. Depending on your choice of program, private jet charter providers will also give all-out access to several jet models.

With different types of travelers owning specific travel preferences, the best part of having a private jet membership is the flexibility you get when it comes to choice of jets, costing, and budget for your next travel. Having one allows you to fly your own terms at calculated costs, so you’re assured that every cent of your hard-earned money will be worth your next business trip. Plus, jet memberships are great sources of global partnerships too. For more information on private jet membership, consult with your trusted jet charter broker or an exclusive charter service provider.

Of course, you want to make sure that you are in a stable financial position before investing in a membership. If you are newer on your financial independence journey, be sure that you have a steady monthly income from your business and you are maximizing all of the ways you can make money. For instance, most folks have a checking account with 0% interest. Which means, they are not making any money on the funds they are essentially loaning to the bank. That’s why we’re a huge fan of Radius Bank’s Hybrid Checking Account. An account that acts like a savings account, in that you earn interest on your balance but it has the additional flexibility that checking accounts offer. Click here to learn more.

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This post is sponsored by Radius Bank.