

Didn't know April is Financial Literacy Month? Well, now you do. And what better excuse to get your finances in check or figure out how you'll add to your already lit bank accounts? Let's get into some knowledge about credit. It's an issue we all face as we look for ways to reach financial freedom and the best road to where the money resides. Sadly, the stats reflect harsh realities for many of us. Fifty-four percent of Black adults report having no credit or a poor to fair credit score (below 640).
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Carmen Perez, Varo Bank's personal finance advocate and creator of MakeRealCents.com, a financial fitness platform, shares the good, bad and ugly on credit. Perez, an award-winning professional who's worked for Citi and Morgan Stanley, successfully paid off $57,000 of her own debt in less than three years.
"My finances were a hot mess up until I was able to commit to a plan," she shares. After facing a lawsuit from a private lender, she had to use her last bits of savings to hire a lawyer. She readjusted her budget, completely cut out luxuries like eating out and investing in cable, and reinvested her time into a photography side hustle to bring in more cash. She also kept a close eye on her finances and savings via the cash envelop system, and by the end of 2018, she was debt-free.
It's always good to know where you are before creating a plan to get to where you want to be. So, let's get into some credit 101:
Your Credit Score: The Basics
A credit score, also referred to as your FICO score, is a number that lets lenders know how much of a risk it would be to lend you money. The score ranges from 300 (the lowest) to 850 (the highest). "It is a benchmark that lenders use to gauge how likely a person is to pay back what they owe based on past data. The more you pay things back and on time, the better your credit can be, which can help you borrow money at a lower rate for things you may need," Perez says.
There are three major credit reporting bureaus, TransUnion, Equifax and Experian, and each uses different reporting methods, thus you could have up to three different scores.
"The misconception is that we have one credit score, which is inaccurate. We have multiple, and it depends on what we're applying or aiming for," Perez says. "Your bank, for example, could be showing you a FICO score that might be conducive to opening a credit card, but your score might be different when applying for financing for something else."
Also, various things can impact your credit score, from late bill payments or rental debts to outstanding medical bills and tax liens. On the positive side, a long history of maintaining accounts in good standing, or taking on debt that you're able to manage and pay back consistently over time, are all actions that can contribute to a great credit score.
You can access your credit scores for free via AnnualCreditReport.com, and each report will have specifics on the types of accounts you have on record (such as credit card, mortgage, and student or car loans), the date those accounts were opened, information on your credit limits or loan amounts, as well as details about your payment history. Credit reports also have history on where you've lived and sometimes where you've worked. You'll want to make sure all information is up to date and accurate, especially since some information could be from fraudulent activity, a reporting misake, or an old debt of more than several years that should have dropped off.
For more information on your credit reports, look into resources offered by the credit bureaus, including apps that offer weekly updates on your credit score, credit report information, and credit products available to you. Other easy-to-use and super-helpful websites on understanding your reports are CreditKarma.com and USA.gov.
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Your Credit Score: The Good
The benefits of having a "good" credit score, which is one that falls generally at a 700 or above, is access to more housing options, more confidence when applying for a loan, and lower interest rates when you get approved. "Good credit allows you to secure better housing and, in some cases, will enable you to bypass having to put a deposit down if you rent," Perez adds. "If you plan on owning, good credit can help you secure a mortgage with better financing terms for you in the long-term. The lower your interest rate, the less you'll pay in interest over time."
"You'll feel less worried about getting denied, which can help you focus more on the things that matter, like negotiating a good interest rate."
But what about if you have no credit at all (i.e. no active accounts being reported to the credit bureaus or your credit history is so limited that there's no score)? Perez recommends getting a secured credit card, one that requires a deposit but offers other great benefits for people who haven't built credit.
"Get one at bank or financial institution that you're looking to have a long-term relationship with---one that offers access to other products. You might put up $500, for example, to open the account, and it will give you access to other products later that you might find beneficial such as home and auto loans."
She also urges women to put some serious thought and research into making decisions about what cards might be best for them. Looking to resources like Nerd Wallet or reading up on your current bank's credit card options (along with the fine print) are your best bet. Be sure to get details on annual fees, card closure policies, and payment protocols.
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Your Credit: The Bad
In some cases, with a credit score that is below 640, a lender sees you as a higher risk for default or nonpayment of a loan. "If you haven't been good at paying back the money you've already borrowed, lenders will be more hesitant to lend you money," Perez says. "Since they are lending you the money, your loan terms, whether it be a mortgage, car loan, or credit card, will be more favorable for the lender than they will be for you. And since the lender is taking on all the risk, their reward is being able to charge you with a higher interest rate. Interest over time can add up and take away money that could be going toward your future self, like investing for retirement."
Though cash is king, when it comes to buying a home or even renting an apartment, you may need a cosigner to vouch for a loan. "Getting someone else to cosign on anything can be pretty tricky, especially when you already have bad credit," she continues. "You may also be subject to paying high deposits, which can deplete you of cash that could be going toward things like your savings or retirement."
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Your Credit Score: The Ugly
In Perez's case, she was sued for an outstanding debt, and this is a common practice for some lenders as well as medical service providers and property management companies. Accounts that have reached collections stages and wage garnishments can not only deplete your pockets, but they can indeed negatively impact your credit score. A bad credit score can even affect your employment opportunities. "Sometimes employers will run a credit check on you before giving you the job," she says. "If your credit isn't in a good place, they may not extend the offer."
But you can take bad credit and turn your situation around. Perez recommends looking at all your credit reports and disputing anything that might be out of date or inaccurate. Then address the open accounts with balances that are past due. "Get on the phone with your lender. Explain your situation. See if they have a hardship program, and get the information on what that actually looks like. Get those details up front first, and then go from there." Perez also suggests freezing your credit card and pausing on use versus closing them, something that could negatively impact your credit. If possible, remain in communication with companies or lenders you owe to negotiate a plan for resolving your debt. "If you get the no the first time, continue to call to see if you can get yourself on a payment plan. That's better than [the lender] hitting up your credit because you're not making payments."
There are also credit-card debt relief options offered with the understanding that many are facing pandemic-related hardships, and community resources to get help in building budgets or exploring other debt-relief options.
Perez is also a big advocate of finding a way to earn more income via a side hustle and paying down at a pace that takes into account your current lifestyle and necessities. "Make sure you're prioritizing your bills. If you're in a hole and trying to make it out, it's time to put a budget in place and figure out where your money is going."
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Luxury Hairstylist On Viral 'Hey Boo' Texts & Professionalism In The Hair Industry
As Black women, our hair is our crowning glory - whether we paid for it or not. We take pride in how we wear and take care of our hair. As with everything, hair care and hair styling have evolved over the years. Long gone are the days of Blue Magic (although I hear it’s making a comeback).
Now, we have a plethora of creams, oils, conditioners, shampoos, and stylists to choose from. Beyond wearing our natural curls, we have a range of options, from wigs and sew-ins to tape-ins, I-tips, and K-tips. So much choice! But you know what they say about too much of a good thing...
The Black hair industry has definitely blossomed in the last decade with a wave of new stylists and salons popping up all over the place. As much as I love that for us, many of these stylists have become the subjects of viral TikTok and Instagram tirades because of their alleged questionable behavior and bizarre rules.
Excessive policies, strange fees, long wait times, poor performance, and the infamous “Hey boo” texts. Beauty is pain, they say… xoNecole got to the root of these issues with luxury hair extensionist Dee Michelle, who’s been in the hair game for 20 years and runs a seven-figure business - all while being a mom of four.
Antonio Livingston
“I started my business with my career in the hair industry [at] very, very young age when I was maybe like eight...So, over the years, I've just built a very successful seven-figure business very quickly just by offering high-end services and creating great experiences for my clients, many of whom are high-profile professionals,” she said. “I'm also a mother of four, including a set of triplets, which inspires me daily to show what's possible with my hard work and focus.”
Dee’s business has gone viral on social media because of what many call outrageous prices for her invisible K-Tip installs.
“When I developed my invisible K-tip extensions technique, I made sure that it wasn't just about the hair or the style, but about providing a high-end experience from start to finish. So, my clients just aren't paying for the extensions or just the style itself, but they're investing into my meticulous, seamless craft and premium hair sourced from the best suppliers…I've spent so many hours mastering my craft, creating this seamless method that gives my clients long-lasting natural results, and my pricing just reflects that - the value of my expertise and the exclusivity of the service.”
The K-tip specialist stands on business when it comes to catering to her clients and giving them an experience worth the cost.
“And it's just important for me to also say that my clients are high-profile individuals who value quality, their privacy, and their time. They want a service that fits into their lifestyle and their time. They want things that deliver perfection. And I deliver that every single time.”
I’m sure we’ve all seen the various TikTok rants about people’s nightmare experiences with stylists and uttered a silent “FELT!” We asked Dee her opinion on a few nightmare scenarios that beg the response, “please be so forreal."
On stylists charging extra to wash clients’ hair:
“I think they should just include it in the price, to be honest. Because I feel like when clients go to a stylist, they're expecting you to wash their hair. Personally, if I see that washing is extra, I just wouldn't go to the salon because it just shows a lack of professionalism, in my opinion, and a lack of experience.”
“I think they should just include it in the price, to be honest. Because I feel like when clients go to a stylist, they're expecting you to wash their hair. Personally, if I see that washing is extra, I just wouldn't go to the salon because it just shows a lack of professionalism, in my opinion, and a lack of experience.”
On ‘deposits’ that don’t go towards the cost of the service:
“I think that's kind of weird, too, for deposits to not be like a part of the service. I've seen people have booking fees and I just don't understand it, to be honest. I disagree with that kind of policy…By all means, people should do what works for them, but to me, it doesn't make sense. Why does somebody have to pay a fee just to book an appointment with you? I don't get it. It feels like exploitation.”
On stylists charging extra to style (straighten/curl) wigs, sew-ins etc., after installing:
“I don't get it. Clients come to us to get their hair done, to get it styled. So why is it extra for you to style it? If you're going to charge extra, just increase your price. I feel like it could be just a lack of confidence in those stylists, feeling like people won't pay a certain price for certain things, or just their lack of professionalism as well, because people are coming to us to get styled.”
On the infamous “Hey boo” text stylists send to clients when they need to cancel/reschedule:
“Professionalism in any industry, especially the beauty industry, is everything. So texting a client the, “Hey boo” is so unprofessional, and it's damaging to the client-stylist relationship. Clients book their appointments expecting a level of respect and care, especially when they're investing their time and money and a service. And I get it, emergencies happen, we're all humans. However, it should be done with a formal apology and a clear explanation.”
“Professionalism in any industry, especially the beauty industry, is everything. So texting a client the, “Hey boo” is so unprofessional, and it's damaging to the client-stylist relationship. Clients book their appointments expecting a level of respect and care, especially when they're investing their time and money and a service. And I get it, emergencies happen, we're all humans. However, it should be done with a formal apology and a clear explanation.”
We know all too well what kinds of things will keep us from ever gracing certain hairstylists’ chairs with our butts again. So, what should hairstylists do to provide a good service to their clients? What is good hairstylist etiquette?
“For one, being on time is an important rule for stylist etiquette. It's just not okay to require your clients to be on time, and you're not on time. Also, communication. Being able to communicate clearly, respectfully, and professionally, whether that's in person, via text, or on social media. Style is etiquette. Appearance matters. So just maintaining a clean, polished, and professional look. Clients respect you more whenever your appearance reflects your work. There's just so many things, but another thing I would say is active listening. So, being able to pay close attention to what your client wants and also clarifying any questions that they might have. Just to ensure that they feel heard and to minimize any misunderstandings.”
Dee also shared some red flags to look out for when considering a new stylist.
“Even me as a client, if I'm booking somebody and they have a long list of rules, I don't even book with them. That's, for one, just such a huge turn-off. Also, stylists who have inconsistent or unclear pricing, that's a red flag. People who change their rates too much without an explanation. Poor communication. So, if a stylist is responding very slow or responding unprofessionally, or giving vague answers to questions, that can make clients question whether or not they are respecting their time and their needs.
Another red flag - an inconsistent or low quality portfolio. And I feel like, I see this a lot with stylists stealing other people's work, and their portfolio on social media is just very inconsistent.”
We couldn’t let Dee go without getting the tea on what styles she predicts will trend in 2025.
“I feel like people are going back to natural-looking styles. So, a lot of people are ditching the wigs, the lace fronts, things like that. People are still wearing them, of course, but it is becoming more of a trend to embrace your natural hair and something that's not looking too fake. That’s one thing that we're going to be seeing a lot. I would say a lot of layers are coming back, heavy layers. Those are becoming really, really trendy. And people are leaning more towards platinum-colored hair. I've been seeing lots of like blondes coming out. Also, jet black is always going to be a trend. But I would say more like natural colors, but natural colors that are still making a statement.”
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Feature image by Antonio Livingston.
A Single Woman's Guide To A Fabulous Valentine's Day Staycation
Aight single ladies: even if there is a part of you that isn’t all that thrilled about Valentine’s Day (for whatever the reason), I promise you that there is an extra special reason to get excited this year — it falls on a Friday which means that you can turn it into a staycation and it can be one that’s filled with nothing but plans for how to celebrate your own damn self. And yes, sis, that is a good thing.
As an ambivert, I must admit that I constantly live in a state of staycations (LOL) because I enjoy my space and spending time with myself just that much. And, even though I’m personally not a “holidays person,” I must say that for those who do observe them, I think that taking staycations (vacations at home or in your city) during those days can be cool because you can center them around a theme — and what better theme can there be than love? Including self-love.
I’m telling you, devoting an entire weekend to rest, recharge, and holistic pampering, I’m not sure if life gets any better than that. So, why not seize the moment this Valentine’s Day weekend by incorporating (at least some of) the following 10 tips?
1. Get Yourself a Body Pillow
As a doula, I’ve gotta admit that the only time a body pillow really comes to mind is when I’m talking to a client about how she can make her second and/or third trimester more comfortable as far as sleep is concerned. However, when I was recently talking to a single woman about how she hates that her king-size bed feels so empty yet she’s not ready to put a warm body in it, “Get yourself a body pillow” came out of my mouth.
The truth is body pillows are great, in general, when it comes to supporting great posture, helping you to sleep better (if you happen to be a side sleeper), improving blood circulation, reducing snoring, helping you to toss and turn less throughout the night and even soothing aching muscles and joints. Plus, it gives you something to cuddle with. So, if you want to treat yourself to something unique that’s super practical at the same time, get a body pillow this Valentine’s Day. It’ll be one of the best investments that you’ve made in quite some time.
2. Buy Some Sexy/Comfy PJs Too
Unless you sleep in the nude, it’s a good idea toswap out your pajamas every 4-5 days or so. That way, between all of the dead skin cell shedding and sweating, you can be proactive about taking care of your skin as well as your bedding. Okay, but how often should you purchase a new pair of PJs? Well, when you stop to think about the fact that you are in them for 5-8 hours every night, every 6-9 months is probably a good idea. That said, if it’s been a couple of years longer than that since you’ve invested in some, Valentine’s Day is just as good of a time as any, wouldn’t you say?
And don’t get those granny-looking ones either. Just because you’re single, that doesn’t mean that all you have are dated moo-moos (although I’ve had some husbands sing the praises of those before — LOL) and oversized flannels in your near future. Pajamas that are made out of cotton are good so that your skin can breathe; however, try and go for something sexy like a baby doll set or a tank and some boy shorts. Science backs up the fact that how we choose to dress impacts our self-esteem — why would you think that only applies to how you look while you are outside of the house?
3. Put Some Flowers in Your Room
Personally, I adore fresh flowers. Yet if you happen to be someone who doesn’t see the point in them, thinks they are a waste of money, and/or feels like it’s kinda-sorta ridiculous to get your own self a bouquet — let me just say that there is plenty of research out here to support the fact that flowers help to put you in a better mood, decrease stress, reduce indoor air pollution, lower blood pressure and even make you more attentive.
Know what else is interesting? Red and yellow flowers can help you to feel more comfortable, cheerful, and calm. Red roses are pretty much the signature flower for Valentine’s Day — and now you’ve got some really solid reason to get yourself a dozen of ‘em.
4. Have Your Favorite Meal Delivered
If I were to ever have a social media platform or podcast, one thing that you will never hear outta me is that I am not Team Cooking. Cooking is healthier for you and (before this guy because POTUS) it’s significantly cheaper too. That doesn’t mean I don’t have a DoorDash account, though — and I am absolutely not afraid to use it! Sometimes, ordering a meal can feel indulgent because, not only are you letting someone else prepare what you enjoy eating, it is being hand-delivered to you too.
Since everything that we’re talking about today is how to set the stage for a bomb-sss staycation, definitely get food sent to you. No dishes to clean up is a very necessary step when it comes to chilling out and relaxing all Valentine’s Day (weekend).
5. Take Yourself on a Date
Again, since Valentine’s Day falls on a Friday this year, this gives you the entire weekend to date yourself. Go to your local farmers’ market. Enjoy an indoor picnic. Check out an indie concert. Stop by a coffee shop, write yourself some love letters (check out “Every Woman Should Write A Love Letter To Themselves”), and then mail them to your house on the way home. Be a tourist in your own city. Go ice or roller skating. Schedule a photo shoot (for yourself).
Take yourself shopping. Read at least three chapters of a book or watch an entire movie while in the bathtub. Spend the night at a swanky hotel. Remember, at the end of the day, a date is a way of spending quality time with someone. Since Valentine’s Day is a day that celebrates love, why not spend quality time with who should be your favorite person: YOURSELF.
6. Or Go on a Virtual Tour
And what if what I just suggested sounds great in theory; however, you’re really just not in the mood? Well, another way that you can still “date yourself” is to open up your laptop and go on a virtual tour. For instance, if you’ve always wanted to go to Greece, Peru, or Ireland or you’re curious about Antarctica or the Amazon Rainforest, you can click here to check these places out up close and personally. Wanna learn more about Africa? There are several virtual tours available here.
To tell you the truth, these days, there are virtual tours that cover just about any place that you can think of. Personally, I think that this is a cool thing to do on a staycation because you can “be somewhere” from the comfort and convenience of your own home, and/or it’s a proactive way to put a plan together so that you and/or some friends can go on a trip before the year is out.
7. Give Yourself a Scalp and Foot Massage
If you’ve “got it like that,” something else that can make this a really special single girl’s Valentine’s Day staycation event is to have a massage therapist give you a massage (check out “12 Different Massage Types. How To Know Which Is Right For You.”) at your home. However, if coins are tight, you can still pamper yourself by engaging in a DIY scalp and foot massage. Both reduce stress. Both release tension. Both make for an amazing night’s sleep.
Tips for how to give yourself a stellar scalp massage can be found here. Tips for how to give yourself a wonderful foot massage can be found here. And definitely don’t forget to incorporate some soothing essential oils. I’ve got a list of some for you right here.
8. Start a Self-Love Scrapbook or Journal
Question: What tangible memories do you have of how you love yourself? Weird question, right? Still, that doesn’t make it an invalid one. I can only imagine how much better we’d all feel about ourselves if we actually had a self-love scrapbook to refer to — one that consisted of receipts from pampering days, self-love quotes that we enjoy, some of our favorite pictures of ourselves, written down memories of some ah-ha moments of transformation that particularly standout…anything that reminds us of loving ourselves (that can fit into a scrapbook).
If you like the idea and yet need some inspiration, check out Skillshare’s “40 Beautiful Scrapbooking Ideas to Try.” Or you can use this as an opportunity to get a fresh journal — one that is dedicated to nothing but mantras, quotes, song lyrics, and thoughts pertaining to how to love yourself more and better. Make sure to put the dates and times of your entries in. There’s nothing like seeing actual documentation of your own self-love journey and growth.
9. Turn It into a Sleepover with Your Friends
Just because you’re single, that doesn’t mean you have to spend Valentine’s Day alone — if you don’t want to. One woman I know, she hosts a Valentine’s Day party for the single men and women in her life every year. Another one? She has an old-school sleepover where her girlfriends wear heart PJs, watch throwback rom-coms, and eat every form of junk food known to man (and woman). Definitely one of the reasons why Valentine’s Day feels lonely for some people is because they think that love only means romantic love and that absolutely could not be further from the truth.
If the idea of using this coming Valentine’s Day weekend to fall off the grid to mankind isn’t your idea of a good time, you can always call a friend or two to spend the night with you. Or, you can have a virtual sleepover with homies who live elsewhere. You can learn more about how to execute one of those here and here.
10. SLEEP. IN.
If you don’t have to work this Valentine’s Day weekend, why not sleep in? When you stop to think about the fact that sleep reduces stress, improves your mental health, reduces your blood sugar levels, helps you to maintain a healthy weight, and strengthens your heart — how could putting your phone on DND (Do Not Disturb) and not setting your alarm NOT be an act of self-love? The world will still be waiting for you once you roll out of bed.
In honor of a phenomenal single woman’s Valentine’s Day staycation, let it wait. Sis, I’m pretty sure you’ve earned it. SLEEP. IN. (Yay!)
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