Additional Coverage:
- I own a multimillion-dollar business and believe teaching my kids about money is as important as literacy. Here’s how I’m doing it. (businessinsider.com)
Local Mom Builds Million-Dollar Business, Focuses on Teaching Sons Financial Savvy
Jhalesa Seymour, founder of the feminine hygiene company Salt.XO, has seen remarkable success, growing her business from a college dorm room project to a multi-million dollar enterprise. But despite exceeding $16 million in sales, Seymour is focused on ensuring her two young sons develop a strong understanding of financial literacy.
Seymour’s entrepreneurial journey began with humble beginnings. Inspired by her mother who raised five children on a modest salary, Seymour sought financial independence.
While still in college, she began crafting all-natural soaps and feminine hygiene products. These initial creations, distributed for free on campus, quickly gained popularity, laying the foundation for Salt.XO.
The company’s rapid growth saw profits soar from $154,000 in its first year to an impressive $1 million the following year.
While acknowledging the comforts her success provides, Seymour is determined to instill a strong work ethic in her children. Concerned about the potential for entitlement, she actively works to teach her sons the value of money and the connection between hard work and earnings.
Seymour employs practical strategies to impart these lessons. She openly discusses her spending habits with her 5-year-old son, explaining the cost of groceries and the effort required to earn that money.
She limits his purchases and encourages saving, using a physical piggy bank to visualize his growing funds. This tangible approach helps her son understand the concept of delayed gratification and the rewards of saving.
Seymour’s commitment to financial literacy extends beyond everyday expenses. She plans to educate her sons about investing, retirement planning, and responsible borrowing. Having learned these lessons herself through trial and error, she aims to equip her children with the financial knowledge she lacked growing up.
Despite her remarkable achievements, Seymour remains ambitious and driven. Having surpassed her initial goal of becoming a millionaire, she now sets her sights on becoming a billionaire. Seymour’s story serves as an inspiring example of entrepreneurial success coupled with a dedication to raising financially responsible children.