In April 2020, I embarked on a journey to turn my passion for creating art into a successful business venture. Thus, DomoINK was born as a lifestyle brand that offers art, home décor, apparel, and gifts celebrating diversity. Fast forward four years, and my side hustle has transformed into a thriving business, generating around $27,000 a month in passive income by the time I turned 30. The brand has expanded its reach and is now featured in major retail stores like Target, HomeGoods, Macy’s, and Urban Outfitters. Recently, DomoINK even launched a hair accessories line in collaboration with Goody Tru at Walmart, further solidifying its presence in the market.
Despite the financial success I have achieved through DomoINK, I remain grounded in my frugal habits. I am always on the lookout for ways to save money and make wise financial decisions. Here are five things that I refuse to spend my hard-earned money on:
1. Alcohol: Fortunately, I never acquired a taste for alcohol, which has saved me a significant amount of money over the years. Not indulging in expensive drinks when going out has been a conscious choice that has contributed to my financial stability.
2. Luxury designer items: While I have the means to purchase designer clothes, I opt not to splurge on luxury items. The shift to remote work has highlighted the fact that I do not need an extensive wardrobe filled with designer pieces. Comfortable attire like sweatpants suits my lifestyle better, and I have realized that investing in designer items would not be a prudent financial decision.
3. Casinos: Living in close proximity to Las Vegas, it would be easy for me to engage in gambling activities. However, I have witnessed the negative impact of gambling on friends and family members, deterring me from ever trying it myself. Instead, I choose to invest my money in the stock market, a more stable and reliable way to grow my wealth.
4. Extended warranties: Through personal experience, I have learned that extended warranties on products often come with numerous limitations and exclusions, making them less valuable in the long run. After a disappointing encounter with a furniture warranty, I now set aside funds each month to cover potential repair or replacement costs, rather than relying on extended warranties.
5. Manicures and pedicures: Salon visits for manicures and pedicures can add up to a significant expense over time. During the pandemic, I took matters into my own hands and learned how to do my own nails at a fraction of the cost. By investing in supplies and practicing at home, I have mastered the art of DIY manicures and pedicures, eliminating the need for costly salon appointments.
In conclusion, my journey with DomoINK has not only been a testament to the power of pursuing one’s passion but also a lesson in financial responsibility. By being mindful of where I allocate my resources and making conscious choices to save money, I have been able to build a successful business and secure a stable financial future. As I continue to grow and evolve, I remain committed to smart financial practices that align with my values and goals.
