In an urban loft in downtown Newark, New Jersey on a June evening, a crowd of about 75 people gathered for the launch party of Living dfree® with Tamika Talks. The women mingled while enjoying amazing appetizers and sharing stimulating conversations. The excitement was palpable. Audience members had come from as far away as Texas to celebrate the web series launch.
Living dfree® with Tamika Talks is a web series explicitly tailored for Black women and hosted by the movement's Executive Director, Tamika Stembridge, Esq. on the organization's YouTube channel – mydfree. This series focuses on helping women at every stage of life understand the meaning of financial freedom. Viewers will hear from bold women (and men) who are making powerful economic choices and helping shape the narrative surrounding what it means to live authentically financial free.
The event began with an overview video explaining dfree® as a values-based, wealth-building system designed specifically with the Black community in mind. dfree® Founder & CEO Dr. DeForest B. Soaries, Jr. sagely explained, "Poverty doesn't start with the wallet; it starts with the mind." Executive Director Tamika Stembridge, Esq. shared that when, "You start to really take control of your life, your money starts to follow. People don’t realize they do have the power to change. That's the biggest aha moment for most people that they have the power to change their lives."
An event welcome was provided by dfree® Marketing Director, Charnelle Anderson who serves as the executive producer and creative director of Living dfree® Tamika Talks. Anderson explained how dfree® is a grassroots movement, "We are meeting people where they are, which is important because most people don't meet African Americans where they are, they want us to meet them where they are."
Stembridge addressed the group and thanked everyone for attending. When she looked across the crowd, she saw her friends, family and dfree® loyalists. Stembridge shared, "It’s amazing what can happen when we build forums for women to come together and navigate the financial questions that affect us all. This YouTube show is a natural outgrowth of what can materialize when we work toward financial freedom.”
Stembridge, a renaissance woman who is also an entertainment attorney and strategic consultant said, "Black women are often the nucleus of the family, work and culture. This show aids as a reminder of how powerful we are while giving women the tools we need to go to the next level and sprinkle Black Girl Magic even more. I am a proud graduate of Spelman College so I have been rooting for us for such a long time and this show couldn't have come at a better time.” Stembridge continued sharing that according to the most recent Nielsen study, Black people are responsible for $1.2 trillion in purchasing power.
The first episode was shown starring special guest Sybil Amuti, Co-Founder of The Great Girlfriends podcast. Stembridge calls her Super Star Sybil because she runs two podcasts, is an entrepreneur, brand strategist, wife, and mother. The interview showcased Stembridge's interviewing style, which puts her guest at ease and allows them space to share their stories.
Amuti discussed how life has a way of unfolding based on the choices you make. Following graduation from college, she discovered that her chosen career would not financially support the lifestyle she wanted, so she started working in Gis Technology (Geographic Information System), the data that would eventually be used to create mobile maps. The importance of this information is that maps tell you who lives where, what happens when, and the behaviors occurring in different communities. This work led to her being pulled into marketing and branding meetings to help others understand the consumption game.
"I think success is the freedom to have curious ambition, the freedom to explore it. When I say freedom, it's a mental piece. It's a spiritual piece. It's just a physical piece. It's a curiosity that allows you to say, 'You know what, with this freedom, I can go out and explore different pieces of who I am,'" said Amuti.
Following the viewing, audience members were able to ask Stembridge and Amuti questions. Including the following exchange:
What do you do if you pay off all your debt and are left with credit cards that you don't want to use?
Tamika Stembridge (T.S.): Congratulations, if you paid off all your debt. Do not close the accounts. Charge something such as a monthly gym membership. dfree® is not anti-debt; it is anti-debt as a lifestyle. If you use the points to pay for your vacation, then you are using debt as a strategy.
What are some of the money strategies you use to stay on point?
T.S.: I create a spreadsheet that separates bills and debt. Look at how much it costs to live. Include lifestyle expenses such as hair, nails, weekend events, Starbucks and gas. You will need to create a new sheet for each month. I know how much I need to survive every month. Spend about an hour of your time and sort out when bills are due and income comes in. If the amounts don't match up, call the companies and adjust the due dates. It sounds intense, but this process gives me peace of mind and keeps me honest.
Sybil Amuti: I use a spreadsheet as well. I create a new money story each month. I have automated bills but need to include seasonal expenses that incur additional costs such as graduation, travel and the holidays. We tend to be very lean between January to March because April to August we will be going out and spending more money. I want to be pleased at the end of the year. Also, I suggest using the Albert app.
T.S.: The dfree® Billion Dollar Challenge (BDC) tool helps track your debts. If you don't have debts, it can help develop a savings plan. It will even set up a plan for you. Our goal is for Black people to pay down a billion in consumer debt by 2020. If you're not good with a spreadsheet, use BDC. It will track it for you. We do all we do with dfree® for free. Consider joining the Tamika Talks BDC group.
What would you tell your 20-year-old self?
T.S.: At 20, I was still in college and needed more life experience. But I would say to my 25-year-old self, weigh the cost and benefits of your decisions. I wouldn't change what I was doing or going to pursue at that age, but I could have definitely taken more time to think before leaping in some instances. I started out in the corporate world but was over it by 27. I didn't think about the true costs. I didn't change my lifestyle when my salary changed. Now I'm 37 and working to rebuild for retirement, because Icashed out my corporate 401k when I left. When you're young and ambitious, remember that passions don't pay the bills. You need a strategy. I could've saved myself a lot of pain.
The enlightening conversation could have gone on for hours, highlighting the importance of Tamika Talks and the shared experience it will present to the community. "It's great that this is happening. I've never been a part of a conversation about financial wellness," said Alexis from New York.
Even after the event ended, women stayed and continued to talk. Cheryl from New Jersey said, "This event is great. They'd be here all day if they answered everyone's questions." Rebecca from New Jersey echoed those comments and said, "This is the place to get resources to change your life around."
