
This Financial Expert Swears By Investing In Multiple Investment Accounts

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.
Most relationships will fail on the surface level due to lack of intimacy, communication or trust, or even falling out of love with one another. However, thanks to Chanel Nicole Scott's relationship platform, CheMinistry, viewers are witnesses to candid conversations between guest speakers during live hosted events about the rise of healthy relationships.
Alongside unequal spiritual wellness and poor communication skills, financial dispositions can also play a factor in the success or failure of any relationship. "I love that my work has allowed me to educate others on the concept of financial literacy and the importance of this kind of discipline when you are engaging in a long-term relationship. Many relationships are about finding common ground, and much of the ground that you cover must include what your financial life and retirement plan will look like for you and your partner," Scott shared with xoNecole.
Courtesy of Chanel Nicole Scott
As the founder and lead organizer behind a relationship platform that has been recognized by stars of Real Housewives of Atlanta, Black Love, and many award-winning singers and songwriters, CheMinistry has attracted a worldwide audience by providing perspective and preparing them for long-lasting, healthy relationships.
The North Carolina native organized CheMinistry to provoke intimate exchange and compelling conversation surrounding romantic relationships with the ultimate goal of bridging the gap between purpose-driven men and women who desire to progressively move their love life to the next level. CheMinistry has featured top influencers and celebrities in pop culture from R&B singer Fantasia and Destiny's Child founding member LaTavia to actresses Demetria McKinney and television personalities Erica Dixon, Drea Kelly, and Debra Antney.
In this installment of "Money Talks", xoNecole spoke with the 45-year-old founder about how to better manage your money with your partner, why relationships fail due to financial instability and the importance of investing for the younger generation.
On the statistics of failed relationships due to financial instability:
"If you consider the most common disagreements in relationships, many of these disagreements are linked to money, egos, and expectations based on society's hierarchy of men versus women in the household. Financial instability creates disconnect, resentment, and even control issues between you and your partner. It is so important to be transparent about your finances AND your debts when you are pursuing a healthy relationship.
"More than 43% of marriages start off in debt. Imagine planning the wedding of your dreams, and then after you've invested all this money into a memory, you come home only to realize you're still in debt. Your issues will start that day!"
On how relationships can be saved through financial wellness and managing money with your partner:
"I would encourage individuals to educate themselves on financial literacy and position yourself to be financially independent before entering a marriage. The simplest of issues that can create a disconnect are the control mechanisms that are enforced when one partner feels they have more financial power––thus more power in the relationship. For couples who find themselves in this position, you can save your marriage simply with open communication."
Courtesy of Chanel Nicole Scott
"Financial instability creates disconnect, resentment, and even control issues between you and your partner. It is so important to be transparent about your finances AND your debts when you are pursuing a healthy relationship. More than 43% of marriages start off in debt."
On how the pandemic has financially impacted couples and how to recover:
"Whew! COVID has challenged couples in so many ways, but definitely financially. Many couples usually have some small sort of disagreement about saving and spending habits, but now more than ever, couples are really having to confront some unhealthy spending habits that are overtly more unhealthy during this pandemic. Having to completely alter how your household is run or led to align with today's current economy is difficult, especially considering that so many people have lost jobs and are having to live off of one partner's income, if any income at all."
On how much she saves and if it’s in a high-yield savings account:
"I do invest money into the Money Market and CD account but with the current economic climate, the yield is very low. A CD account pretty much offers a savings account where you invest a specific amount of money with the bank and agree to let that amount sit over a specific period of time. In reward, banks will offer you a higher interest rate for your money. CD accounts are good because your money is insured by the bank and often has low-risk associations, however, if you do not have a substantial amount of money to get started with a CD account (usually an amount of money that you can afford to do without for a fixed period of time), then I would not suggest starting this account so soon."
On her definitions of wealth and success:
"I believe wealth is defined as the ability to leave a generational blessing for those who come after me. Success is the capacity to know and operate in my God-given purpose. A lot of people feel that wealth and success go hand-in-hand. I feel that success has a lot to do with personal gratification. When you have reached a space where you are generally satisfied with your place in life, most people feel successful. Wealth I feel is more of a tangible experience. It allows you to acquire certain luxuries that, usually, generations after you should be able to benefit from."
Courtesy of Chanel Nicole Scott
"When you're faced with life challenges, you often find your peak of strength and creativity. You find yourself learning how to make something out of nothing, and at my lowest points, I've learned that being tested isn't a bad thing, but more so a transitional period."
On the lowest she’s ever felt when it came to her finances and how she overcame it:
"There was a point in my life where I lost everything chasing after what I believed to be my purpose, but in the midst of it all, I was able to tap into the gifts and talents that I didn't even know I possessed. I [co-wrote] a book about it Girl Powered Uncensored, a compilation of women stories [in the first chapter]. I had to reset. I literally started all over again and am re-building, but this time I have the wisdom to make better decisions about my purpose and what I was actually put here to do. When you're faced with life challenges, you often find your peak of strength and creativity. You find yourself learning how to make something out of nothing, and at my lowest points, I've learned that being tested isn't a bad thing, but more so a transitional period."
On her biggest splurge to date:
"I think my biggest splurge would be my car. I love cars, just like other people like bags and shoes, but I like those, too. My thought process behind all of my purchases is that if I work for it, then I can have it. Unlike some, I don't believe in buying anything that I don't want or settling for less, I'd rather wait until I can actually afford what I want."
On whether she’s a spender or a saver:
"I'm definitely a spender, but I save money by allocating portions of my income to be deposited into different accounts for monthly living expenses, spending accounts, and savings accounts."
On the importance of investing:
"If I could offer any advice to younger generations, it would be to start investing early or encourage your parents to set you up to invest. Ask questions early-on. Investing early makes the difference between a 15-year retirement plan and a 40-year retirement plan. When you reach your mid-20's you start wanting to really experience life, hence why you need money. By the time you're 30, you want to live for you and live unapologetically (hence you need money). By the time you are 40 plus, you want peace, stability, and financial freedom to move comfortably and take care of your family, hence you need money. Investing really prepares you for each level of desired stability."
Courtesy of Chanel Nicole Scott
"Investing early makes the difference between a 15-year retirement plan and a 40-year retirement plan. When you reach your mid-20's you start wanting to really experience life, hence why you need money. By the time you're 30, you want to live for you and live unapologetically (hence you need money). By the time you are 40 plus, you want peace, stability, and financial freedom to move comfortably and take care of your family, hence you need money. Investing really prepares you for each level of desired stability."
On her savings goals and what retirement looks like to her:
"With the changing economy, my retirement plan is continuously evolving. Currently, I make contributions into a 401K in addition to an MMA and CD account. The current state of the economy has shown everyone, especially me, that having one plan is not enough. There are many people who were set to retire in 2020, thought they planned accordingly for retirement, and as soon as we entered this pandemic, many finance plans were challenged. Everyone's retirement plan is currently still evolving in order to prepare for the unthinkable future."
On her budgeting must-haves:
"I must have a food-spend budget. I'm a single woman with no children and I'm a foodie. Besides, I don't cook. I have a separate account that I deposit money into just for food expenses."
On her intentions behind multiple streams of revenue:
"In my business, we've created a stream of income through ticket sales and we also provide a vendor experience as a part of the live event. The event is fairly large so it can be quite lucrative. I've also created brand merchandise. However, with the recent changes in the economy due to COVID-19, we're still in the process of revamping 'how' we do business."
On unhealthy money habits and mindsets:
"Impulsive spending is definitely a bad habit of mine. If I see it and I want it, I buy it. Sometimes I have to talk myself off the ledge, but I think developing a clear financial picture of what your savings goals are and where you see yourself in a particular time frame helps with creating an effective financial plan. I'm still trying to make those changes, but I do spend less when I 'think' through my purchases!"
On her money mantra:
"'Give and it shall be given to you; good measure, press downed, shaken together, and running over.'"
On the craziest thing she’s ever done for money:
"I don't think it was crazy, but I did UberEats a few years back when I moved to Atlanta. I was still in the process of building my business and securing permanent employment and I needed the extra money. It did a 'doozy' to my car with the number of miles I racked up but hey you do what you've got to do."
On the worst money-related decision she’s ever made:
"Spending too much money when you 'have it' or not being diligent enough in my decision-making. I would advise anyone in business when making financial decisions regarding your business to make decisions as if you had little-to-no money. Talk through all your purchases and ask as many questions as possible to make better decisions."
On her budget breakdown:
How much do you spend on rent? $1,600
Eating out/ordering in? $400
Gas/car note? $800
Personal expenses? $450
For more of Chanel, follow her on Twitter!
Featured image courtesy of Chanel Nicole Scott.
Eva Marcille On Starring In 'Jason’s Lyric Live' & Being An Audacious Black Woman
Eva Marcille has taken her talents to the stage. The model-turned-actress is starring in her first play, Jason’s Lyric Live alongside Allen Payne, K. Michelle, Treach, and others.
The play, produced by Je’Caryous Johnson, is an adaptation of the film, which starred Allen Payne as Jason and Jada Pinkett Smith as Lyric. Allen reprised his role as Jason for the play and Eva plays Lyric.
While speaking to xoNecole, Eva shares that she’s a lot like the beloved 1994 character in many ways. “Lyric is so me. She's the odd flower. A flower nonetheless, but definitely not a peony,” she tells us.
“She's not the average flower you see presented, and so she reminds me of myself. I'm a sunflower, beautiful, but different. And what I loved about her character then, and even more so now, is that she was very sure of herself.
"Sure of what she wanted in life and okay to sacrifice her moments right now, to get what she knew she deserved later. And that is me. I'm not an instant gratification kind of a person. I am a long game. I'm not a sprinter, I'm a marathon.
America first fell in love with Eva when she graced our screens on cycle 3 of America’s Next Top Model in 2004, which she emerged as the winner. Since then, she's ventured into different avenues, from acting on various TV series like House of Payne to starring on Real Housewives of Atlanta.
Je-Caryous Johnson Entertainment
Eva praises her castmates and the play’s producer, Je’Caryous for her positive experience. “You know what? Je’Caryous fuels my audacity car daily, ‘cause I consider myself an extremely audacious woman, and I believe in what I know, even if no one else knows it, because God gave it to me. So I know what I know. That is who Je’Caryous is.”
But the mom of three isn’t the only one in the family who enjoys acting. Eva reveals her daughter Marley has also caught the acting bug.
“It is the most adorable thing you can ever see. She’s got a part in her school play. She's in her chorus, and she loves it,” she says. “I don't know if she loves it, because it's like, mommy does it, so maybe I should do it, but there is something about her.”
Overall, Eva hopes that her contribution to the role and the play as a whole serves as motivation for others to reach for the stars.
“I want them to walk out with hope. I want them to re-vision their dreams. Whatever they were. Whatever they are. To re-see them and then have that thing inside of them say, ‘You know what? I'm going to do that. Whatever dream you put on the back burner, go pick it up.
"Whatever dream you've accomplished, make a new dream, but continue to reach for the stars. Continue to reach for what is beyond what people say we can do, especially as [a] Black collective but especially as Black women. When it comes to us and who we are and what we accept and what we're worth, it's not about having seen it before. It's about knowing that I deserve it.”
This interview has been edited for length and clarity.
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Feature image by Leon Bennett/WireImage
Okay, so let's start here. Did you know that approximately 75 percent of Americans suffer from dehydration? And, while you might think that this article is running during the summertime because that is when we tend to be outside and perspiring the most, the reality is this could actually be published any time of the year. Why?
Because there is no time on the calendar when our bodies don't need a good amount of fluids running through them—you know, being that we're made up of around 65 percent water ourselves.
When your body has the right amount of fluids running through it, not only can that help to keep you nice and cool, but it can also keep your muscles and joints working at their optimal levels (you know, like while you're swimming or taking long walks along the beach 'n stuff). Plus, spending a lot of time out in the sun can definitely put you on the road to being dehydrated—quick, fast, and in a hurry.
If you're wondering if you already are dehydrated, but you're not sure what signs to look for to confirm it, here are 10 that tend to get overlooked, far more than they ever should.
1. Thirst
If you've ever heard the saying, "If you're thirsty, you're already dehydrated," there is actually a significant amount of truth to that. When there is a lack of fluid in our system (or too much sodium in our body), the amount of water volume that we need in order for our body to work correctly drops, which makes us want to drink more.
You can stay on top of this by drinking 2-3 cups of water per hour (when you're awake, of course). If you do that, you should avoid feeling thirsty or parched. And, when it comes to your body "flowing" smoothly, that's a good thing.
2. Fatigue
Word on the street is that when you're at the point of dehydration, you've already lost somewhere between 2-3 percent of your own body fluid. If that happens, it makes total sense that you would start to feel tired, drained, lethargic, and fatigued. When there isn't enough fluid in your system, your blood volume drops, and that keeps your brain from getting all of the blood (and oxygen) that it needs.
Plus, dehydration makes your heart pump faster than it needs to as well. So yeah, if you want an energy pick-me-up, drinking more fluids is a surefire way to go.
3. A “Pop Off” Spirit
If you feel like you're about to snap on somebody, drink something first. A couple of glasses of water, if you can. While it might sound crazy on the surface, another bona fide indication of dehydration is that you're in a bad mood. How do the two dots connect?
When your fluid levels are low, the neurons in your brain are able to easily detect that. As a result, they will signal to other parts of your brain what's up, including the area that regulates your moods. Hmph. Considering 75 percent of Americans are chronically dehydrated, it makes you wonder how many are irritable, short-tempered, and just plain mean, simply because they don't have as much fluid in their body as they should, huh?
4. Blurred Vision
Have you ever had moments when, while scrolling through your Instagram or trying to watch television, your eyes suddenly became blurry? Before you freak out, drink more. Our eyes need fluids in order to remain moist and comfortable. This means that when we are dehydrated and our body fluid levels drop, that can result in dry and irritated eyes. This is just one more reason why drinking more water is such a good idea.
5. Sugar Cravings
If you want to get a grasp of just how serious sugar addiction in this country is, check out Healthline's "America's Deadly Sugar Addiction Has Reached Epidemic Levels." But if you're typically not someone who is big on sugar, and yet, you find yourself having moments when you can't seem to get enough of it, this could be another sign that you're dehydrated.
Something that our organs need is a healthy amount of glucose. Well, when we don't have enough liquid in our body, that can make it difficult for organs like our liver to release glucose and provide our bodies with an energy boost. As a result, we might think that we need a sugar rush when really, all we need is to drink more. How crazy is that?
6. Unexplainable Breakouts
Whenever I get pimples that have nothing to do with my period, it's usually a heads-up for me that I need to drink more water. Something else that drinking more does is flush toxins out of our system and help to keep sebum from clogging up our pores. A lot of us are out here thinking that if we put everything under the sun on top of our zits that they'll go away. But the reality is, if we drank more good ole' H20, we probably wouldn't have so many pimples to deal with in the first place.
7. Bad Breath
There is someone I went to high school with who had the worst breath ever. Well, she and a guy I went to college with actually ran neck and neck with this particular "award." In hindsight, something that I realize they had in common is that I rarely, if ever, saw them drinking water. It was juice, soda—anything but. Here's the thing about that—when we don't get enough fluid into our system, that keeps us from producing the amount of saliva that we need in order to flush out oral bacteria.
When bacteria linger, not only does that create a breeding ground for tooth decay, but it can make our breath smell pretty damn tart as well. Just one more reason to drink more; more specifically, drink more water. For your sake and the sake of those around you.
8. Constipation
Quiet as it's kept, one of the leading causes of constipation is dehydration. We eat our food, it goes into our colon, and, if we don't have enough fluids in our body, our colon takes in the water from the food waste, making it harder for the waste to pass through us.
Constipation can ultimately lead to everything from hemorrhoids (from straining to having a bowel movement) and stomach aches to a lack of appetite and bad breakouts. All of it sucks. Avoid this by getting at least 6-8 glasses of water in on a daily basis.
9. Muscle Cramps
Do you ever get random Charley horses in your leg? Aren't they the absolute worst, especially if they happen in the middle of the night? That used to happen to me until I got more water into my system. What I discovered is that whenever I'm dehydrated, the lack of water (and sodium) that my muscles need can result in them tightening up in a way that oftentimes feels just like cramps.
This is really important to keep in mind, especially if you work out (and sweat) a lot or you plan on spending a lot of time outdoors where you'll lose a fair amount of body fluid.
10. Dry Skin
As we age, something that we definitely need to do is get more fluids into our system. When we don't, our skin starts to lose elasticity, which can lead to sagginess and wrinkles. Not to mention the fact that if our skin's pores don't get enough fluid, the natural sebum that we produce can decrease, resulting in our skin becoming mad parched and looking super dry.
So, if you want your skin to be soft, supple, and moist, you already know what I'm gonna say, right? Water will help to prevent your skin from looking and feeling parched, which can keep you looking younger than ever for longer than expected. Drink up, sis.
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Featured image by Westend61/Getty Images
Originally published on July 8, 2020