I had the pleasure of speaking with Jewell Tankard of Bravo’s Thicker Than Water to spill the tea about money, motherhood, being a mogul, and the latest on her hit show. In our conversation, she dropped some many gems about what it takes to “have to all.”
MadameNoire: How does your faith influence or inform your ideas about money and finances?
Jewel Tankard: My faith influences a big part of it. God made this beautiful world. God wants us to do big and beautiful things with our lives. If we are going to make an impact, we can’t do it broke. Political figures are put in place by money. Like in Ferguson, if we are going to push a political agenda, we are going to need money. If I want to start a homeless shelter for women who are victims of domestic violence, then I am going to need money.
Ecclesiastes says money answers all things. Timothy says the love of money is the root of all evil. So clearly, we have to have a balance. Money, in and of itself, is not evil. And if we are going to advance the kingdom or advance anything we believe that God puts on our hearts, then we are going to need money to do it.
MN: What do you say to those that say wealth make you anti-spiritual?
JT: A lot of times people have equated wealth with arrogance and the reality is that there are wealthy people that are arrogant and there are regular people that are arrogant. So that is a character issue, not a financial issue. Money just amplifies who you are. If you were a broke playboy, you are going to be rich playboy when you have money.
MN: Where did your financial wisdom come from?
JT: I was born into a family of strong entrepreneurs. I knew what wealth looked like. I grew up with chefs, housekeepers, drivers, and beautiful homes; I went to the best schools. But then I lost it at 19.
I realized that it’s not just about learning how to make money. You can be a good producer, but not a good manager of your money. That’s why a lot of millionaires become broke because they are not managing it right or stewarding it. That’s how I became passionate about understanding economic cycles. Every business has a cycle. Period. So you have to understand when it starts, when it peaks, and when it comes to an end, so hopefully you are innovative and creating new cycles.
MN: Why did you create the Millionairess Club?
JT: My mission and purpose is for women to know that they can live their dreams, even if they are moms and wives. So many feel that if they are good moms or wives that they can’t be good businesswomen. Not only do I believe kids need time, they need quality.
You need to sit down and ask them, “Would you rather have Mommy home at 5pm every day with dinner cooked or would you rather have Mommy coming home at 10pm on some days so you can get your trip to Spain in the summer?”
When we talk to our families about what the endgame will be, they understand how they can become benefactors of Mommy’s hard work. And it does not mean that you can’t spend time with your family. I think a lot of women have trouble finding that balance, so I want to teach them how to find that balance that they can have it all.
I also want to teach them at a certain point in their business, it’s time to hire a housekeeper and a cook. It’s cost-prohibitive for me to be cooking and cleaning and running to the grocery store and dry cleaners when I could be signing a million dollar contract.
I want to teach them that if they want more out of life, they don’t have to wait for their husbands. They can be contributors.
MN: Are there any upcoming projects that we should know about?
JT: Ben’s [her husband Ben Tankard] CD recently dropped and it already is a bestseller on Amazon. We are celebrating 25 years of him in gospel jazz. We will have a family trip that is so hilarious that it will make you pee your pants. It’s relatable on some many levels.
I am getting ready to launch the Jewel Tankard Talk Show on Impact Network, the first African-American Christian Network, premiering at the end of March. The Millionairess Club trip will happen at the end of August. You can get information on Jewel Tankard.org.
The Millionairess Club starts again on March 9 from 7pm to 9pm. Six week sessions range from $250 to $1,000, where you can get brand development packages with a photo shoot and make-up artist.
We are also hosting a family conference on understanding family conflict resolution at our church on April 24 and 25. Ben and the children will each be teaching on a topic that is relevant to them, everything from understanding legacy, carrying on the legacy, managing emotions in the family, and learning to make your own decisions.
Connect with Kara @frugalfeminista. Learn more about The Frugal Feminista at www.thefrugalfeminista.com Download her free ebook The 5-Day Financial Reset Plan: Eliminate Debt, Know Your Worth, and Heal Your Relationship with Money in Just 5 Days. Join Kara’s closed $20 Cash Crash Diet Facebook Group to get some sistergirl support and accountability for reaching your savings goals.