Money Talks is an xoNecole series where we talk candidly to real women about how they spend money, their relationship with money, and how they spend it.
As the co-owner and Marketing-Logistics Director of Atlanta's own Transformations Beauty Studio with her twin sister Derricka, Erricka Traylor is sure to know a thing or two about money management and financial wellness. After losing nearly everything after an engagement gone wrong, the Atlanta native had to learn the hard way through experience that having everything tied to someone you aren't bonded to by marriage is not always the ideal route to take.
Following financial hardship and the ultimate heartbreak, Transformations Beauty Studio was born and thus a monthly six-figure income followed. "I save 35 percent of my income each month. In order to save this, I set a weekly budget for spending. Use my calendar to view any travel and about my spending as needed so that I hit my goal," Traylor shared with xoNecole. Though she saves with a high-yield savings account, she told xoNecole that she opts to use CapitalOne. "They are known for taking care of their existing customers. Most banks give you a great rate coming in but it drops after six months."
Courtesy of UMGMT Strategic Communications & Public Relations
In this installment of "Money Talks", xoNecole spoke with Traylor about purchasing a brand new car on a random Tuesday without consulting anyone, the simplicity of her savings goals and the importance of her multiple income streams.
On her definitions of wealth and success:
"Wealth, to me, is defined as having balance in my life. What I mean by that is having excellent health, freedom when it comes to spending, using my time wisely, and most importantly, leaving a legacy for my family. I define success as facing your biggest challenge or fear and overcoming it. Success is going after your goals and never giving up, no matter how hard things get. Success is also about making a better choice in life and leading by example."
On the lowest she’s ever felt when it came to her finances and how she overcame it:
"The lowest I ever felt about my finances was after a breakup. I was in a long-term relationship, and we had tied a lot of finances up together. After the breakup, I lost out on a lot of my savings and assets. I felt low because I didn't make sure that I would be financially OK if we decided to split. It made me feel low and upset with myself because I knew better. Unfortunately, at that time, I didn't do the right thing to secure myself. I overcame it by going back to the basics. Watching my spending, saving money and investing money in a business that will help me increase my revenue. The most critical component was I changed my mindset. I no longer felt upset and low. I felt empowered to do it right this time around for myself."
On her biggest splurge to date:
"My biggest splurge was purchasing a new car. It was the first car I purchased without anyone's money or input. I purchased my car on a random Tuesday. I was over my current car and just ready for a change. My previous car was goldfish tan and it wasn't a car that I really wanted. I was so determined to get me a new car that day. I literally pulled up to the dealership with no appointment two hours before they closed. I already knew which car I wanted and color. When I spent the $32,000 on my car, I was nervous but I also felt good at the same time. It was my mark of financial growth and independence. I was able to see that I can and will accomplish goals if I stay focused on the goal and plan. I was so happy."
Courtesy of Milan Mobley
"When I spent the $32,000 on my car, I was nervous but I also felt good at the same time. It was my mark of financial growth and independence. I was able to see that I can and will accomplish goals if I stay focused on the goal and plan. I was so happy."
On whether she’s a spender or a saver:
"I consider myself a saver nowadays. When I was younger, I was a spender! I trained my mind to start to think of my future, [to] think of my family and what I can provide them with. I gave myself small goals and advanced over time. Now it's just routine."
On the importance of investing:
"To me, investment is essential. I invest conservatively in stock. I have restricted stock, preferred stock, brokerage CD. I also invest in the business to help grow my income and savings. My business investments are hiring the right people. For each new person added, we spend money on training, payroll, marketing etc. Investing in my company marketing and advertising is also a strategic investment that I use to gain more revenue."
On her savings goals and what retirement looks like to her:
"My saving goal is simple. Save enough money to have financial freedom before and after retirement. Retirement for me is on track and closely watched."
On her budgeting must-haves:
"My must-haves are housing, utilities, entertainment, groceries, transportation, self-pampering. I use Mint to help guide me with my personal finances. The system is easy and it keeps me on track with my goals and budget. I also write things down the old fashioned way. The first thing I do is take my savings percentage and put it towards my savings. Then I write out my essential bills for the month and subtract it from my monthly income. I then write out my other finances like entertainment, etc and go from there. I also add to an emergency account for small emergencies. I do this every month to keep things right and tight."
On unhealthy money habits and mindsets:
"Some unhealthy mindsets that I had to let go of were shopping all the time for clothing [and] not sticking to my savings goal. Also cutting down on eating out so much. My mindset changed and then my bank account grew and my will power got healthy."
On the worst money-related decision she’s ever made:
"The worst money-related decision I made was tying all my money and assets with someone just because I was in a relationship with them. This was a very bad decision that I made at the time. I didn't do the right thing with my money. It's like I just gave it away in a sense. I made costly business decisions and didn't think about the consequences that I may face. I learned a valuable lesson to read over every contract, review the pros and cons, and think about the what ifs. If I had done this, it would have saved my 10s of thousands of dollars."
On her intentions behind multiple streams of revenue:
"My streams of revenue are product revenue, salon revenue, [and] spa revenue. I started each one at different times during my career. One reason why was because I had to build up my income. Each one of my new business revenue helps start the next one. It was important to me to start another stream because, number one, I wanted to grow my business as much as possible and, number two, I wanted to grow my income. Having these different streams of income taught me to be more flexible, organized and it gives me a sense of security In finances."
Courtesy of Milan Mobley
"My streams of revenue are product revenue, salon revenue, and spa revenue. Having these different streams of income taught me to be more flexible, organized and it gives me a sense of security In finances."
On her money mantra:
"I am worthy of all the richness I desire."
On her budget breakdown:
Eating out/ordering in?
"No car note, but gas is probably $150 a month."
"Maybe $200 per month."
For more information on Erica, follow her on Instagram and The Body Transformer's Studio official Instagram account.
Featured photos courtesy of UMGMT Strategic Communications & Public Relations
Unapologetically, Chlöe: The R&B Star On Finding Love, Self-Acceptance & Boldly Using Her Voice
On set inside of a mid-city Los Angeles studio, it’s all eyes on Chlöe. She slightly shifts her body against a dark backdrop amidst camera clicks and whirs, giving a seductive pout here, and piercing eye contact there. Her chocolate locs are adorned with a few jewels that she requested to spice up the look, and on her shoulders rests a jeweled piece that she asked to be turned around to better showcase her neck (“I feel a bit old,” she said of the original direction). Her shapely figure is tucked into a strapless bodysuit with a deep v-neck that complements her décolletage.
Though subtle, her quiet wardrobe directives give the air of a woman who’s been here before, and certainly knows what she’s doing. At 24 years young, she’s a “Bossy” chick in training— one who’s politely unapologetic and learning the power of her own voice.
“I'm hesitant sometimes to truly speak my mind and speak up for myself and what I believe,” she later confessed to me a couple of weeks after the photoshoot. “It's always scary for me, but now I'm realizing that I have to, in order to gain respect as a Black woman— a young Black woman— who's still navigating who she is. And you know, I'm realizing that closed mouths don't get fed. And if I keep my mouth shut just because I'm afraid of what people's opinions of me will be or turn into, then that's not any way to live.”
For Chlöe, the journey into womanhood is about embracing who she is, without succumbing to the perceptions of what others think of her. From the waist up she’s everything you’d imagine. A gorgeous goddess with the kind of sex appeal that some work hard to embrace but fail to exude. But unbeknownst to anyone not on set, her bottom half is covered by a white robe, surprising coming from the girl who boasts “'Cause my booty so big, Lord, have mercy” on her first hit single “Have Mercy.”
But that’s the beauty of Chlöe. There’s more to her than meets the eye. More than what a few sensual photos sprinkled throughout an Instagram feed could ever tell you. Just like the photo-framing illusion of her portrayed from the waist up, what we know about the songstress is just the tip of the iceberg. There’s so much more beneath the surface.
Some hours later Chlöe leans back in a high chair as her locs are transformed from a formal updo to a seemingly Basquiat-inspired one. It’s pure art, and at her request, no wigs are a part of the day’s ensemble. She’s fully embracing her natural hair, a decision that wasn’t always a socially accepted one.
In the suburbs of Atlanta, Georgia, (Mableton, to be exact) Chlöe began to explore the foundation of her self-image. At an early age she and her younger sister, Halle, demonstrated a vocal prowess and knack for being in front of the camera that caught their parents’ attention. Soon after, they were sent on a parade of local talent shows and auditions, and eventually broke into the digital space with song covers on YouTube.
It was during these early years that Chlöe first learned that the entertainment industry could be unforgiving to those who didn’t fit a particular beauty standard. Despite the then three-year-old snagging a role as the younger version of Beyoncé’s character, Lilly, in Fighting Temptations, casting agents requested that her natural locs be exchanged for more Eurocentric tresses. Ironic, considering that growing up Chlöe saw her hair as no different than that of her peers. “I remember specifically in pre-K we had to do self-portraits and I drew myself with a regular straight ponytail, like how I would put my locs in a ponytail,” she says. “I just never saw myself any different.”
Chlöe would also learn the true meaning of a phrase that would later become an affirmation posted on her bedroom mirror: “Don’t Let the World Dim Your Light.” After attempting to wear wigs to fit in, the Bailey sisters instead chose to rock their locs with pride, which undoubtedly cost them casting roles. Yet they would have the last laugh when making headlines as the “Teen Dreadlocked Duo” who landed a million-dollar contract with Parkwood Entertainment, and the coveted opportunity to be groomed under the tutelage of a world-renowned superstar.
Credit: Derek Blanks
While that could be the end of a beautiful fairytale of self-empowerment, the reality is that it’s just the beginning of the story of her evolution. For most girls, the transition into womanhood takes place in the comfort of their own worlds, often limited to the number of people they allow to have access to them. But for Chlöe, it’s happening in front of millions of critiquing eyes just waiting for an opportunity to either uplift or dissect her through unwarranted commentary.
Many in her position wouldn’t be able to take that kind of pressure. But Chlöe is handling it with grace. “I feel like all of us as humans, we have the right to interpret things how we want,” she says. “I put art out into the world and it's up for interpretation. I'm learning that not everyone is going to always like me and that it's okay.”
Chlöe isn’t the first artist to receive criticism for her carnal content, and she certainly won’t be the last. In 2010, Ciara writhed and rode her way to banishment on BET when the then 24-year-old released her video for “Ride.” In 2006, 25-year-old Beyoncé received backlash for “Déjà Vu."
"I put art out into the world and it's up for interpretation. I'm learning that not everyone is going to always like me and that it's okay.”
So much so that over 5,000 fans signed an online petition demanding that her label re-shoot the video because it was “too sexual.” Even 27-year-old Janet didn’t escape critical headlines when she shed her image of innocence for a more risqué appearance with the 1993 release of janet.
It’s almost as if public reproach is a rite of passage for young Black women R&B singers on the road to stardom. Good girls seemingly “go bad” whenever they embrace the depths of their femininity, and fans only like you on top figuratively. But Chlöe has learned not to bow down to other people’s opinions, but to boss up and control the narrative. As the saying goes, well-behaved women seldom make history. If sex appeal is her weapon, she wields it well.
On set, Chlöe exudes the energy of Aphrodite in an apple red, off-shoulder dress with a sexy high split. In between shots, she mouths the lyrics to Yebba’s “Boomerang” as it echoes throughout the space in steady repetition at my recommendation. The hour grows late, yet Chlöe is heating things up as eyes stare in deep mesmerization of the girl on fire.
Credit: Derek Blanks
Through music, she explores the depths of her being, a journey that seems to be, at its foundation, rooted in self-discovery. Whereas their debut album The Kids Are Alright (2018) boasts a young Chloe x Halle empowering their generation to embrace who they are while finding their place in the world, their second album Ungodly Hour (2020) shows the Bailey sisters shedding the veil of innocence for a more unapologetic bravado.
What fans looked forward to seeing is who Chlöe shows herself to be on her debut solo album In Pieces. In an interview with PEOPLE, she confesses that releasing her first project without her sister was “scary.” "It was a moment of self-doubt where I was like, 'Can I do this without my sister?’”
Chlöe has never been shy about sharing her insecurities or her vulnerabilities, all of which are laced throughout the 14-track album. “I want people to have fun when they listen to it and to just realize that they're not alone and it's okay to be vulnerable and raw and open because none of us are perfect; we're all far from it. And I think it's healing when we all admit to that instead of putting up a facade.”
The gift of time has given the self-professed “big lover girl” more encounters with romance and heartbreak. Love songs once sung for their beautiful riffs and melodies become more than just abstract lyrics and are replaced by real-life experiences, which she tells me is definitely in the music.
In her single “Pray It Away,” for example, she contemplates going to God for healing instead of going at her ex-lover for revenge for his infidelities. “With anything dealing with art, I am completely vulnerable,” she says. “I'm completely myself, I'm completely open and transparent. So it's pretty much all of me and who I am right now.”
Has Chlöe been in love? That still remains to be said. Of course, she’s been linked to a few potential baes, but dating in the digital age isn’t as easy as a double tap or drop of a heart-eyes emoji. It requires a level of trust and vulnerability that’s hard to earn, and easy to mishandle. To let her guard down means to potentially set herself up for disappointment. “It’s difficult dating right now, honestly, because you really have to kind of keep your guard up and pay attention to who's really there for you. And you know, I'm such an affectionate person and I love hard.
"So when I meet the one person that I really, really am into, it's hard for me to see any others and I get attached pretty easily. And you know, I don't know, it's…it's a scary thing.”
Credit: Derek Blanks
“With anything dealing with art, I am completely vulnerable. I'm completely myself, I'm completely open and transparent. So it's pretty much all of me and who I am right now.”
While broken hearts yield good music (queue Adele), what’s in Chlöe’s prayer is the desire to be happy. What does that look like? Well, she’s still figuring that out herself. “Honestly, I'm the type of person who I don't truly learn unless I experience it. So it's like I can view and watch my parents and watch the loving relationships that I see in my life and be like, ‘Oh, I want that. I would love to have that.’ But then I also have to experience [love] on my own and see what my flaws or my faults might be or see what my good things about myself are. I feel like it's really all about self-reflection. And even though our base is our family and that's our foundation, we are still our own individuals and we have to find out specifically the things about ourselves that may be different from what we saw from our parents when we were growing up.”
Her ideal beau, she tells me, is someone she can feel safe to be her fun, goofy self with, but who also gives her the space to be the boss chick chasing her dreams. A man who understands that just because the world compliments her doesn’t mean she doesn’t want to hear those words from his lips or feel it in his touch. A bonus if he shows up on set after a long hard day of work with vegan cinnamon rolls. You know, the basic necessities. “I like whoever I'm with to constantly tell me they love me and that I look beautiful because I do the same. I am a very mushy person, and if I see something or you look good, I will never shy away from saying it out loud. And I want whoever I'm with to do the same, be very vocal. Tell me that you love me. Tell me what you love about me because I'm doing the same for you because that's just the person I am.”
Until she meets her match she’s married to the game, and for now, that seems to be perfect matrimony.
Credit: Derek Blanks
On stage at the 2021 American Music Awards, Chlöe solidified her position as a force to be reckoned with. It was a full-circle moment. In 2012, bright-eyed and baby-faced Chloe and Halle would walk onto the set of The Ellen Degeneres Show and blow the audience away as they bellowed out their future mentor’s song. Ellen would present the sisters with tickets to attend the AMAs, assuring them that they would be back and had a promising future. Nine years later, Chlöe descends from the sky cloaked in a snow-white cape and matching midriff-baring bodysuit for her debut performance. It’s the first time she’s graced the stage of the very award show that she was once an audience member of.
As she shakes and shimmies and boom kack kacks out her eight counts, it’s clear that she’s in her element. Just like her VMA performance a couple of months prior, and the many more stages she’ll continue to grace, she brings an energy that has earned her comparisons to the beloved Queen Bey herself. An honorable statement, considering few R&B songstresses are getting accolades for their entertainment capabilities. It’s on these very stages, in front of hundreds of astonished eyes and millions more glued to their televisions at home, that she tells me she feels most sexy. Powerful, even.
But off stage, it’s a different story.
It’s more than just the commentary about her image and media-flamed rumors that get to her. Mentally, she’s in competition with herself. The desire to be the best burns at the back of her mind with every performance, every production, and every time she steps into the booth. Before, she could share the weight of this burden with her sister. Being a part of a duo meant she could turn to Halle for quiet confirmation and encouragement without a word being exchanged. But lately stepping on the stage means stepping out on her own. And despite being a breathtaking, five-time Grammy-nominated star, Chlöe doesn’t escape the reality that sometimes we can be our own worst critics.
Over the last year, she’s been coming to terms with who she is on her own while overcoming the fear of failing to become who she’s destined to be. While the world waits to see how Chlöe wins, the real triumph is in every day that she chooses herself and continues to walk in her purpose. “I don't really have anything all figured out, honestly. But what I try to do, a lot of prayer. I talk to God more and I just try to do things that calm my mind down and just breathe.”
To whom much is given, much will be required. She’s been chosen to walk this path for a reason. Once she fully embraces that everything she’s meant to be is already inside of her, she’ll be an unstoppable force. “My grandma, Elizabeth, she just passed away and my middle name is her [first] name. So I feel like I truly have a responsibility to live up to her legacy that she's left on this earth. I hope I can do that.”
There’s no doubt that she will. With a role in The Fighting Temptations at three years old, a million-dollar record deal, a main role on five seasons of Grown-ish, five Grammy nominations, a number one solo record in Urban and Rhythmic Radio, a debut solo album, and starring roles in recently released movies Praise Thisand Swarm (just to name a few), Chlöe’s certainly already made her mark, and she’s just getting started.
Photographer & Creative Director: Derek Blanks
Executive Producer: Necole Kane
Co-Executive Producer: EJ Jamele
Producer: Erica Turnbull
Digitech: Chris Keller
DP: Alex Nikishin
Gaffer: Simeon Mihaylov
Photo Assistant: Chris Paschal
2nd Photo Assistant: Tyler Umprey
Features Editor: Kiah McBride
Special Projects: Tyeal Howell
Hair: Malcolm Marquez
Makeup: Yolonda Frederick
Fashion Styling: Ashley Sean Thomas
For More: Cover Story: Issa Rae Comes Full Circle
Keke Palmer Opens Up About Her Sexuality & Never Feeling "Straight Enough" Or "Gay Enough"
Over the years, Keke Palmer has solidified herself as a prominent voice of her generation who doesn’t shy away from speaking her truth. Now, the 29-year-old actress is peeling back the layers and opening up about her sexuality and gender identity.
According to Variety, the Nopestar was presented the Vanguard Award at the LGBT Center’s The Gala in Los Angeles, where she took time to reflect on her own identity journey.
“Sexuality and identity for me has always been confusing,” Keke shared during her acceptance speech. “I never felt straight enough. I never felt gay enough. And I never felt woman enough. I never felt man enough. You know, I always felt like I was a little bit of everything.”
KeKe recalls that she’d often “lead with masculinity” and how that complicated her perspective on the power within herself. “And as a woman, I’ve always been met with so much disdain, you know what I mean? I think so much of that came from who I thought I had to be to get respect, admiration, and love,” she says. “And I’ve always really wanted to be like my father…to want to be taken seriously and not diminish because I was a woman. You know, that’s always been a source of — I guess you would say — pain and resentment.”
Araya Doheny/Getty Images for Los Angeles LGBT Center
The moment of reflection brought on an emotional response from the Nickelodeon alum. “Why did my gender have to define the power I have in the world? And why does my gender get to decide my sexuality?” she asked.
“You know, since I was younger, I always questioned the boxes I was forced to be in and it starts with who you’re supposed to be as a child. You’re supposed to be as a Black person or whatever the background you are from… Then those walls just try to cave you in from every damn angle, who you are as a creative, who you are as a friend.”
She concluded the thoughtful speech by noting her gratitude for being accepted by the LGBTQ+ community as an ally for which she was honored for. “I’m truly so grateful to be seen in this room because I know I’m surrounded by people who know without a doubt what it’s like to decide to be who you are in a world that tells you to be everything but yourself.”
Keke’s Vanguard Award is the perfect illustration of why allyship and activism go hand-in-hand. With voices like Keke’s sharing her truth about self-discovery in sexuality and gender identity, it, in turn, inspires others to do the same.
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Featured image by Araya Doheny/Getty Images for Los Angeles LGBT Center