With 2024 around the corner, a lot of us are starting to think about future goals. What new ideas do I want to bring to life, or what am I currently working on that needs improvement? I’ll be transparent in saying that improving my finances has been an ongoing challenge. I mean, sure, I’m generally stable. But “stable” isn’t enough to invest how I’d like or significantly save as desired. And while it’s not everyone’s favorite subject to bring to the dinner table, I realize a lot of my peers are facing the same problem. Especially in this economy, chile.
That’s why I was super excited to speak with personal finance coach, author, and certified financial instructor Rachael Hanible, a 36-year old Philly-native who has paid off over $92,000 in debt, saved a year's worth of her income, and sports a credit score of 846. In this conversation with xoNecole, she shared her finance journey, along with a few helpful tips for the girlies trying to make money moves (cues, Cardi B).
First, I have to say paying off over $90,000 worth of debt is amazing. Can you tell me a little bit about that journey? How did you cultivate it, and when was the moment you knew you wanted to change your situation?
It was a mixture of a few things. There was some student loan debt there. Plus, I had a car note and credit card debt. I grew up poor, but I never felt like that was God’s plan for my life. I always said I was a millionaire-in-training and spoke about the things I’d do when I’m wealthy. And I woke up one day with an idea of being debt-free, even though I didn’t know anyone who was. I was in school working at a convenience store, making $8/hr. when I had the bright idea. But after I finished college, I revisited the thought, and that’s when the plan started.
"I grew up poor, but I never felt like that was God’s plan for my life. I always said I was a millionaire-in-training and spoke about the things I’d do when I’m wealthy. And I woke up one day with an idea of being debt-free, even though I didn’t know anyone who was."
So many of us want to do that but struggle to make it a reality. What was your process?
I got a job doing accounting after my college job. One day, I just calculated all of my debt and discovered how much was being added to my student loan daily. In my mind, I just wanted to cut down the days that I owed that money, and I applied the same principle to my car note. I started with an extra $5 to my student loans and an extra $20 to my car note. And I was consistent with that idea as I continued to find and grow more income. Now I’m almost 13 years in with no car payment and 11 years with no student loan debt.
Did you always have a good relationship with money?
No (laughs). I went to school for business law, and one of my first assignments was to get a subscription to Wall Street Journal, but I held on to it after the assignment. I started to read about investing, ROTH IRAs, and more. They were mentioning words I never heard before, and that started my journey to learning more.
Just curious, what was your biggest splurge before you got here?
Probably shoes. I have over 100 pairs of shoes (laughs).
You gotta treat yourself sometimes, right?
Girl, not that much (laughs).
Photo courtesy of Rachael Hanible
Well, did you ever work any crazy jobs to get by?
Nothing too crazy because I’ve always been big on integrity over income. But I used to teach Excel classes in my apartment. People from churches would send their registration list, I’d reach out, and they’d come to my little one-bedroom and learn.
It’s giving hustler more than crazy, but I can appreciate the full-circleness of it all. Because, today, how much do you save monthly?
Right now, my major goal is to pay off my 30-year mortgage in eight years, and I have one more year to go. So I’d say I’m averaging about $3K a month toward saving or putting toward my home loans.
That’s incredible. But I’m curious – it’s hard enough to shift your finances the way you did. What triggered you to transform this skill into a business?
For years, I was helping people, and that continued to grow. People actually told me I should start charging – so I did.
You offer a lot more, though, right? Talk to me about your multiple streams.
Yes, it started with that one thing: talking and helping people. But when you solve one problem, people will send you bigger problems. So, it developed into classes for kids. Those sessions start at age three and go all the way to college-aged. Also, I’m an author and teach about real estate, budgeting, and credit.
What’s been your biggest business challenge so far?
Even though it's a sexy subject now, no one wanted to talk about this years ago. In the beginning, people didn’t wanna hear from a Black woman with no kids and no husband about financial literacy. For whatever reason, people felt like those things didn’t make me relatable. Like, of course, she can do this if she doesn’t have kids. It was difficult; that was something I really had to fight through.
Ugh, that's ridiculous. Did you have a person or tribe to confide in? Who do you talk to?
Yes, I talk to my mom. She’s a pastor. Then there’s my big sister, who is a mixture of the church and the streets and, of course, my best friend. She’s all the way left (laughs). I come to them for business and relationships. They are all fair and give me encouragement.
From working with diverse clientele, have you picked up on any popular unhealthy spending habits?
The habits are connected to the mindset. The mindset controls your access. Unfortunately, a lot of us don’t feel like freedom, luxury, or wealth is for us. Whether we have $5 or $5,000. I think once we shift that mindset, we’ll be able to hold on to it more.
"The habits are connected to the mindset. The mindset controls your access. Unfortunately, a lot of us don’t feel like freedom, luxury, or wealth is for us. Whether we have $5 or $5,000. I think once we shift that mindset, we’ll be able to hold on to it more."
How would you define wealth?
I define wealth as freedom and options. There are people waking up to do things they don’t want to do because they need the money and people going to sleep not doing what they want because they don’t have the money. Wealth is being able to make decisions when and how you want.
Okay, it’s time for you to teach us your ways. What investments do you currently have? Can you give us exact names?
Sure, I have a traditional 401k, Roth IRA, brokerage account, and a high-yield savings account. And every month, money goes into everything I just mentioned.
When it comes to investing, I’ve heard conflicting advice. Some people say you should start making investments as soon as you have consistent money coming in, and others suggest waiting and building more first. What’s your perspective?
I think we should have an emergency fund, especially now. You need something you can access quickly. For my clients, I always suggest setting a freedom number in case something happens. And then, after that, we do an even split of investing and saving. Inflation isn’t going anywhere, so we have to make our money grow.
"Inflation isn't going anywhere, so we have to make our money grow."
Photo courtesy of Rachael Hanible
And when it comes to budgeting, how detailed do we need to be?
Very. There are so many of us that work so hard for our money and don’t know where it’s going. Small things can go a long way. A lot of us are throwing small amounts of money away every day; that can add up, especially if you’re living paycheck-to-paycheck or have big goals.
What needs to be included on that budget? Can you share a must-have?
Build for fun in your budget now and freedom for the future. You need a healthy balance for it to be successful and realistic.
Do you have a money mantra that you swear by?
I still say I'm a millionaire-in-training. Now I have all my kids in class saying that. And I end all my classes by reminding people that even though they now have the knowledge and inspiration, only they can make the decision to change.
What’s been your biggest lesson through this process?
God takes care of the people who take care of His people. When I first started, I didn’t have the jazzy marketing and photo shoots, but people could tell my heart was connected to this. And I think that’s why, after ten years, I’m still getting new clients, contracts, and etc. There’s so much content about how to make your business grow, but the most important thing is to care and be passionate about what you’re doing.
What advice would you give to aspiring entrepreneurs?
Do something that you would do for free. People say you’ll never work a day in your life if you’re doing what you love. That’s not true. There’s gonna be some piece of your purpose that you’re not gonna like. But if you’d do it for free, that will tell you everything about longevity and if you’re doing it from your heart.
Things you’re gonna learn: taking the stairs is essential. If you try and take the fast lane, you’re gonna get to some levels you’re not prepared for. So, do it for free first and take the stairs.
Finally, what is your ultimate saving goal?
I don’t want any debt. Also, being able to make sure my mom is comfortable – she’s had some health challenges. I want to be able to do what I love without worrying about bills, and I want to be able to serve the people and not count pennies in the process.
I think it’s safe to say she’s well on her way.
To learn more about Rachael, connect with her on social media at @peptalks_ and visit her website at rachaelhanible.com.
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Feature image courtesy of Rachael Hanible
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On The Pre-Game, which launched earlier this year, she has positioned herself as listeners “homegirl.” “There’s definitely a delicate dance between being genuine and oversharing, and I’ve had to learn that the hard way. Now I share from a place of reflection, not reaction,” she says. “If it can help someone feel seen or less alone, I’ll talk about it within reason. But I’ve certainly learned to protect parts of my life that I cherish most. I share what serves connection but doesn’t cost me peace.
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Credit: Malcolm Roberson
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Tap into the full It Girl 100 Class of 2025 and meet all the women changing game this year and beyond. See the full list here.
Featured image by Malcolm Roberson
I was inspired to write this because, recently, while reading about eight types of narcissists and what their traits consist of, I revisited what a vulnerable narcissist is all about. Then, as I connected some dots via another piece that I read about how it shows up in female friendships — well, because this is a platform for Black women, I definitely wanted to put y’all on notice. Because when it comes to toxic friendships (which really is a bit of an oxymoron, isn’t it?), there is probably nothing worse than having a narcissist friend — someone who displays traits like being highly self-centered, pretty apathetic, and constantly gaslighting those around them.
Okay, so what’s the difference between a “regular” narcissist and a vulnerable one? Yeah, let’s get into that now because I’ve got a feeling that some light bulbs are going to go on for a few of you…as it relates to at least one of your current…“friendships.”
So Basically, a Vulnerable Narcissist Is the Same Thing As a Covert One
GiphyIf you check out the article, “Science Says That Happy Couples Do The Following 7 Things” on this platform, one thing that you will notice that I said is, since I’ve been a marriage life coach, I’ve not really been big on using the word “vulnerable” when it comes to serious relationships. Charge it to being a writer who takes words pretty literally (dictionary-defined ones, not what social media makes up from year to year) yet I’ve never understood why we should encourage people to be vulnerable with someone who they deeply trust.
I say that because I know that vulnerable means things like “capable of or susceptible to being attacked, damaged, or hurt” and “open to moral attack, criticism, temptation, etc.” And although I get that no one is perfect, if you feel like dealing with those closest to you requires taking this level of an emotional risk, on a fairly consistent basis? In my opinion, that is a dark orange flag, if not a flat-out red one.
I’ve said before that my preferred word is “dependent” because it means “relying on someone or something else for aid, support, etc.” — and healthy relationships? They absolutely should be INTERDEPENDENT. Yeah, whether it’s romantic, familial or a friendship — why are you out here feeling like sharing yourself makes you open to attack and harm when you should be involved with individuals who can be relied on for support? See the difference? And that is why a vulnerable narcissist makes sense to me — since a narcissist is unsafe, by the very definitions of vulnerable, a vulnerable one would be too. Even more so, in fact.
Here's the clincher, though. Even if you’ve never heard of a vulnerable narcissist before, I’m willing to bet that some of you have heard of a covert narcissist, which is basically the same thing. The fascinating thing about a covert narcissist is they are more subtle than some of the other types — which is exactly how they are able to trip folks up. Because although they need lots of attention and they tend to act really self-important (like all narcissists do), a covert narcissist moves in some pretty sneaky ways.
For instance, they might go really heavy on what seems like compliments (more on that in a sec) in order to make you think that they admire you when, really, they just want to get your guard down in order to get whatever they want out of you. Another example of a covert narcissist is they might act like they are proud of something you accomplished; however, they are actually sticking close by to get some of your contacts or to work themselves into the successful world that you created, so that they can actually compete with you. One more example of a covert narcissist is if they don’t get their way, they may ghost you for days, weeks or months at a time and then be all passive aggressive about it whenever they resurface.
And why are they like this? Because vulnerable/covert narcissists get off on gaslighting — they want you to feel like you are crazy for thinking what is, 8.5/10, spot-on about them. That way, you can be the villain and they can play the victim — even though it’s probably the exact opposite that is actually going on. They do this because, ultimately, to boost their ego. For a narcissist, pretty much of any kind, game-playing is what fuels them and makes them bigger in their minds than they actually are (or even deserve to be).
10 Dead-Ringer Signs of a Vulnerable Narcissist
GiphyOkay, so even with all of what I just said, what if you’re like, “Shellie, I think I get it, but I need a few more examples of what you’re saying”? I hear you and I’ve got you. Some other ways that vulnerable narcissists like to show up and out?
- They are hypercritical and condescending
- They act like they are allergic to accountability
- Their expectations are unreasonable (and hypocritical)
- They are walking contradictions
- They want to be the center of attention (and while monopolize things
- They are masters at giving others the silent treatment
- Their expectations are unrealistic and their demands are ridiculous
- They deflect instead of apologize
- They flatter (use fluffy and insincere words) yet don’t affirm or compliment (yes, there is a difference)
- They lack empathy or humility
And why — or even how — would you be a friend with someone like this? Well, the other thing that you have to keep in mind about narcissism is they are excellent at using charm to their advantage. Charming people tend to come off as being charismatic and witty. Charming people seem to be really interested in you (at least initially). Charming people have a way of making you feel very comfortable around them. At first, charming people seem genuine, attentive and respectful. And they definitely make a good impression — sometimes one that is so solid that you keep going back to that memory during the “bad times” with them.
Hmph. The thing that you have to always keep in mind when it comes to charm, though, is what Scripture says about it: “Charm is deceitful…” (Pr. 31:30) — and that is just what a narcissist is: deceptive.
And when it comes to a vulnerable narcissist and her friendships with other women? The deceptive runs deep.
How a Vulnerable Narcissist Shows Up Especially in Female Friendships
GiphyAlways remember that a vulnerable narcissist moves in subtle and sneaky ways. Hmph, that alone should make you want to ponder if you have some female friends who would fit the bill of being a vulnerable narcissist because we do have a way of being clever and ingenious…which are two of the things that come with being a subtle type of individual. And the way that subtle narcissists use their clever and ingenious ways to their advantage? I’ll give you an example.
A former friend of mine who was — and from what I hear, still is — an absolute vulnerable narcissist really wanted me to be her fan rather than her friend. One time, she even invited me to a bachelorette party and said, “You’re the only one here who isn’t a bridesmaid. You should feel honored.” Nah, what you really said is that you don’t truly value what I bring into your life enough to be a bridesmaid but you know I am good for bringing one hell of a gift and cheering you on regardless.
And that’s how a lot of our friendship was — doing way more giving than I was receiving, doing way more listening than leaning and when I would call her out on some of these things, she would either freeze me out or play the victim and act like somehow it was my fault that she wasn’t being a better friend.
Yeah, that’s what you’ve gotta watch about vulnerable narcissists — it is going to be oh so very rare that they will take full accountability for where they have dropped the ball. To them, somehow, it — whatever “it” is — is either going to be your fault or someone else’s. And that’s why, in their eyes, if you were a “real friend” to them, you would coddle them through not meeting your needs instead of expecting them to actually change their ways so that you both could benefit from the relationship.
And why don’t your needs matter? Because, to a vulnerable narcissist, they believe that they are worthy of extra special treatment at all times — think of them like being a bridezilla 24 hours a day. LOL.
And although some of what I said can be nuanced, for the most part, that really is how a vulnerable narcissist tends to make themselves seen and heard in female friendships: treat them like queens and expect to be mere subjects in their court or…why are you around at all, chile?
5 Hacks for Handling a Vulnerable Narcissist
GiphyFeeling triggered? Or better yet, are you feeling like you finally can “scratch the itch” of what you’ve been looking for to describe a certain person (or certain people) in your life goes? If that is the case and although you see some flags, there tends to be at least a little bit of good enough in your dynamic with “your” vulnerable narcissist to not totally break things off (yet), how do you keep a vulnerable narcissist from causing (anymore) harm?
1. Set firm boundaries. The former friend who I just spoke of? It took years to fully and finally unravel out of all of that (pretty much because she took her elitism to “no turning back” levels a few years ago). A part of the reason why is because she’s not the devil; she really isn’t — she’s just a narcissist. So, what I did to make things more bearable for myself for a while was set some emotional boundaries.
Sometimes I had to tell her “no” and provide no explanation behind it (narcissists think that they are owed every damn thing, chile). I refused to be at her beck and call all of the time. When I felt like she was stressing me out, I would take a bit of time off from phone calls or hanging out. Listen, you will never survive a narcissist, of any kind, unless you have some firm and consistent ARTICULATED boundaries set. If you don’t heed any other point, please heed this one.
2. Have consequences in place for when they are broken. There is no point in setting a boundary if there aren’t going to be consequences for when they are broken. So, for instance, if you tell a vulnerable narcissist that you don’t appreciate them not taking accountability for telling your business to a mutual friend (because they are also extremely entitled individuals), you should probably keep your mouth shut around them for a while. Narcissists care more about their present interests than your holistic comfort which is why they tend to do stuff like that (sometimes).
3. Look at patterns over promises. Narcissists are a lot like energy vampires — and something that both of those need is a source of supply to leech off of whether it’s attention, emotional investing, resources…whatever will benefit them and what they are wanting at the time. And that is why they have no problem telling you that they will do something for you…even if they don’t end up following through. They do this because they want you to put enough confidence in them to be willing to go out of your way on their behalf — at least until they get what they need in the moment. Be careful of that. In genuine friendships, you should be able to rely on others just as much as they should be able to rely on you.
4. Choose to not see them as your “safe place.” Remember, narcissists are charming. They can also be witty, fun and totally entertaining to be around. A word that I wouldn’t use for them, though, is “safe.” The former friend who I mentioned? Although she was good at keeping information confidential (which is a safe trait), she couldn’t be relied on when I was hurting because, somehow, she was going to find a way to turn the focus on her (that is unsafe). I mean, rarely could I tell her something and she wasn’t going to turn it into a story about herself. Yeah, narcissists are always on some sort of makeshift stage, chile. And that can be exhausting.
5. Make sure you know what your “breaking point” is. I tell clients often: Be okay with being someone’s consequence sometimes because there may be a chance that they won’t learn any other way. Do I miss that former friend of mine? Eh, by the time that I was done, I was DONE done. However, we had a lot of years between us and so there are memories that get to me on random occasions. And although I don’t hate her and can see her and genuinely care about how she’s doing, we have nowhere to go in the future. She’s always going to want me to do most of the work — and I am no longer interested in doing so. Breaking points are good. They let us know when a chapter in a relationship has…completed itself.
____
An author by the name of Nassim Nicholas Taleb once said, “Love without sacrifice is theft” (that kind of makes me think of the late author Eric Jerome Dickey’s quote, “Sex without love is violence”). At the end of the day, that saying is a good way to “gut check” your relationship with a vulnerable narcissist. Ask yourself if you are basically the only one doing any sacrificing. And if that is indeed the case, is it worth it?
Remember, a vulnerable narcissist thinks that they deserve to be treated better than everyone else — including you. If you want to keep that type of person as a friend, just know what you are getting yourself into. Because since they are probably never going to change, you will be the one who has to.
One way or another, sis. One way or a freakin’ other.
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