Here at Nappylocs, we feel that being able to do your own hair is freedom. I can retighten my hair whenever and wherever I feel like it. I also don’t have to budget to go and get my hair done. So we started thinking, what if we invested that money every month instead of getting it relaxed or braided? Being the nerd that I am, I got out a spreadsheet to do the math.
Assuming I spent $50 a month, I would have invested over $3,000 in the last 5 years. Believe me, $50 a month is low estimate; some places where I’ve lived it’s more than $100 a month. So here’s the deal, let’s say instead of going to a salon, I invested that $50 in Microsoft stock. Then it gets even more interesting.
|Spent on your hair||In your account||
Return on investment
If I had taken that 50 bucks and invested it starting five years ago I would have had a 39% return on my investment. If I started investing in 2005, I would have made 51%. If I start now and get similar returns over the next 10 years, I could take that $6050 and turn it into $8852. Now I do on occasion visit salons for special pampering, after all they are professionals. A good quality cut, color, or facial should be done by professionals. If you are unable to install your own locs by all means enlist their help or that of a family member or friend. (My mom has installed mine twice)
But for me, a young mother with small kids my time and my funds are more focused on my kids. Nappylocs allows me the freedom of doing my own hair during nap time, kids movies, and in between soccer classes.
Disclaimer: We are not financial professionals, this is not intended as financial advice, and we are not endorsing Microsoft specifically. Please seek a financial adviser for investment information.