Smart Money Moves from The Real Housewives of Atlanta
While many of us tune in to The Real Housewives of Atlanta for the drama and entertainment, I’ve discovered that these women are more than just reality TV stars – they’re savvy businesswomen who know how to manage their finances. After watching the show for five years, I’ve taken note of some valuable money lessons that can be applied to our own lives.
Protect Your Wealth with a Prenuptial Agreement
Kandi Burruss, a successful songwriter and business owner, knew the importance of protecting her assets when she married Todd Tucker. Despite his initial hesitation, Kandi insisted on a prenuptial agreement to safeguard her wealth in case their marriage didn’t work out. This smart move ensured that her hard-earned money remained hers, regardless of the outcome.
Communicate with Your Spouse Before Opening a Business
Cynthia and Peter’s divorce was a result of many factors, including his decision to open a bar-restaurant without her input. The financial strain and lack of communication took a toll on their marriage, highlighting the importance of discussing business ventures with your partner before taking the leap.
Build Generational Wealth by Involving Family
Cynthia Bailey and Kandi Burruss have both involved their family members in their business operations, creating opportunities for generational wealth. By making her daughter Noelle the face of her luxury handbag line, Cargo, Cynthia is teaching her valuable entrepreneurial skills and keeping the revenue in the family. Similarly, Kandi’s soul food restaurant, OLG, features recipes from her mother and aunties, involving them in the business and preserving family traditions.
Hire the Best Person for the Job, Not Your Best Friend
Kenya Moore’s lack of professionalism when working with Cynthia Bailey on her luxury sunglasses line commercial taught us a valuable lesson: hire based on skills and qualifications, not personal relationships. Cynthia’s decision to give the job to Kim Fields, who was prepared and on time, demonstrates the importance of making business decisions with your head, not your heart.
Diversify Your Income Streams
The Real Housewives of Atlanta cast members have leveraged their reality TV fame to create multiple streams of income. From Kandi’s restaurant, Bedroom Kandi, and Raising Ace baby products brand, to Cynthia’s Cargo handbag company and Cynthia Bailey eyewear, these women have built successful businesses that generate additional revenue.
Next time you watch The Real Housewives of Atlanta, remember that amidst the drama and conflict, you can also learn valuable money lessons from these savvy businesswomen.
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