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.
ItGirl 100 Honors Black Women Who Create Culture & Put On For Their Cities
As they say, create the change you want to see in this world, besties. That’s why xoNecole linked up with Hyundai for the inaugural ItGirl 100 List, a celebration of 100 Genzennial women who aren’t afraid to pull up their own seats to the table. Across regions and industries, these women embody the essence of discovering self-value through purpose, honey! They're fierce, they’re ultra-creative, and we know they make their cities proud.
VIEW THE FULL ITGIRL 100 LIST HERE.
Don’t forget to also check out the ItGirl Directory, featuring 50 Black-woman-owned marketing and branding agencies, photographers and videographers, publicists, and more.
THE ITGIRL MEMO
I. An ItGirl puts on for her city and masters her self-worth through purpose.
II. An ItGirl celebrates all the things that make her unique.
III. An ItGirl empowers others to become the best versions of themselves.
IV. An ItGirl leads by example, inspiring others through her actions and integrity.
V. An ItGirl paves the way for authenticity and diversity in all aspects of life.
VI. An ItGirl uses the power of her voice to advocate for positive change in the world.
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Listen, You're Totally Missing Out If You've Never Tried 'Yoga Sex' Before
Deflecting. If there’s one thing that irks me to absolutely no end, it’s when someone tries to avoid personal accountability — or even just a direct question — by deflecting. Take some people, who are barely in their 50s, who try to tell me that they are basically in a sexless marriage due to their age.
Chile, please. Reportedly, over 40 percent of people between the ages of 60-85 are sexually active (I personally think it’s much higher than that), and more than half between the ages of 57-75 (and one-third between the ages of 75-85) participate in oral sex. Matter of fact, a great example of all of this is TikTok sensation (and her husband) Rita 'Badgirlriri504' Smith who’s been married 43 years and talks about intimacy with her man every chance she gets. And you know what? I adore seeing it (check out “Marriage Tips with Social Media Creator Rita 'Badgirlriri504' Smith”)!
And just what does all of this have to do with today’s topic? Well, while talking to two of my clients not too long ago — people who are also well into their 60s — about the fact that they try to get it in at least twice a week (see what I mean? And that doesn’t include oral), when I asked them what their secret was, the wife said, without hesitation, “Simple. We do yoga sex.”
It’s pretty redundant for me to say that I write about sex a lot, which means that I research it too; however, I’ve got to admit that although I know that certain positions can make engaging in copulation easier, it never crossed my mind that there was something known as yoga sex. Yet, as the couple broke it down to me, I found myself becoming more and more intrigued. And that caused me to do some looking around so that I could share the wealth.
Because if your sex life is already bomb as hell, things are slowing down a bit, and you need a bit of “oomph” to fuel the fire again or, deep down, you know that you’re deflecting when it comes to your sex life and you want to change that — yoga sex could be the answer to all of your sexual needs. Read on to see what I mean.
Let’s Review Some Overall Benefits of Yoga, in General, First
GiphyThe gym? It’s never been something that has tickled my fancy, not even a little bit. Oh, but as my metabolism is slowing down and I can tell that I’m deep in the throes of perimenopause (CHILE), I’ve accepted that I need to be more intentional about exercise than ever. And since you can find just about anything that you’re looking for on the internet, I’ve found myself taking a real liking to yoga.
As far as health-related and direct physical benefits go, there are many:
- Yoga helps to reduce stress
- Yoga helps to decrease bodily inflammation
- Yoga helps to boost your immunity
- Yoga strengthens your body
- Yoga increases flexibility
- Yoga gives you more balance and improves your posture
- Yoga elevates your mental health
And that really is just the tip of the iceberg! Since you can get all of this from apps that offer classes for free (you can get a list of some of them here, or you can put “yoga classes” in the search field of YouTube as well), which means that you can do yoga from the comfort and convenience of your own home, why wouldn’t you want to at least give it a shot? Especially if, as you’re about to see, you can incorporate sex into yoga too?
So, What’s This “Yoga Sex” Thing All About?
GiphyIf you actually took the list of benefits that I just provided seriously, it should make all the sense in the world why yoga would help to improve people’s sex lives. If you’re less stressed, it’s easier to orgasm. If you have less bodily inflammation, sex is more comfortable. If you have a solid immune system, you’re in a better mood for sex. If your body is stronger, you will have more stamina during sex. The more flexible you are, the more sex positions you can try. The better your posture is, the easier it is to breathe deeply (which also increases your chances of climaxing). And if your mental health is in a great state, the more satisfying sex will be for you overall.
Okay, but there’s more. Some studies actually reveal that women who participate in yoga on a regular basis are more easily aroused, lubricate more, and experience less bodily discomfort — and get this, especially if they are over the age of 45. One study even went so far as to reveal that 75 percent of women who did yoga consistently said that they were more satisfied with their sex life than before yoga became a part of their lifestyle. Impressive…impressive indeed.
So, what makes “yoga sex” a thing? Well, it’s basically when people bring standard yoga positions into their sex life. Meaning, it’s not about learning positions that will make you stronger and more flexible in the bedroom beforehand; no, yoga sex is about literally doing yoga while having sex.
For instance, say that your goal for sex is to experience deeper penetration from your partner. A position that you might want to try is the cobra pose (here) where you first get on your stomach and then lift the upper half of your body with your hands while keeping your arms straight. If your partner straddles you, it frees their body up to penetrate you while also stimulating your neck and shoulders with his hands and mouth.
Or, if you like the missionary position yet you want to give it a bit of an upgrade, the bridge pose (here) can make that happen because it’s all about being on your back and then lifting the lower half of your body while your feet are planted on the ground (or your bed if your core is strong and your partner is helping to hold you up). Word on the street is this is a top-tier cunnilingus position. Report back. #wink
Maybe you’ve always wanted to experience a cervical orgasm. Getting on your back and throwing your legs over your head, and then being penetrated is one of the best ways to achieve this goal; that position is called the plow pose (here).
Now that I’ve broken yoga sex down a bit, do you see the potential that it holds? Do you also see how taking up some yoga, outside of sex, could better prep you for yoga sex?
If all of this has piqued your interest, first let me say that there are other traditional yoga positions that would be great for sex too like the forward bend and reclining butterfly (here) or the happy baby and cat-cow (here) — and honestly, that’s only the beginning because, the more confident you become, the more positions you’ll probably want to experiment with. The really awesome thing is, when it comes to yoga sex, positions aren’t the only thing that you can explore; there are different types of yoga sex too. Let’s touch on that briefly as well.
Did You Know That There Are Different Kinds of Yoga Sex?
GiphySo, what do I mean by different types of yoga sex? Great question.
Tantric yoga: This type of yoga focuses on the more spiritual side of intimacy. It does this by incorporating practices that help with meditation (check out “What Exactly Is 'Orgasmic Meditation'?”), flexibility and deep breathing.
Orgasmic yoga:If you want to control your pelvis more, strengthen your core, and become an expert when it comes to breathwork, then orgasmic yoga will be more your speed (for the record, from what I’ve read, belly dancing actually qualifies as a form of orgasmic yoga. Just an FYI).
Kink yoga: If BDSM is your thing, then this is the kind of yoga that you’ve been looking for. The main aim here is to use yoga to get you to become more flexible and more mindful during sex.
When it comes to all three of these, if you live in a major city, there’s a pretty good chance that you can find a class that specializes in them. Otherwise, YouTube has some introductions to all of these too.
3 Tips for Yoga Sex Beginners
GiphyAnd what if yoga sex is something you’re down with yet you’re not sure how to start? Well, here are a few tips that can make even trying yoga sex tonight a more pleasurable experience.
1. Decide on positions beforehand. Good foreplay isn’t just about what you do 15 minutes before intercourse; it’s about getting each other’s minds “right” long before that. So, put your partner in the mood by emailing or texting pictures of some positions you’d like to try. It will get his mind in the mood and his imagination going; it’ll also give you some time to practice (just sayin’).
2. Create a “yoga-like” atmosphere. Listen, one of the key principles of yoga is cultivating an environment for mindfulness and peace. So, if you’re trying to do this with the television on, the kids yelling downstairs, or with your mind on a billion different things, it’s not going to work. You need quiet. You also need a lot of room. You need scents (like lavender, jasmine, vanilla, neroli, or sandalwood) that make you feel calm and relaxed. And you need soft lighting; it brings about a sense of tranquility. What about sounds? Instrumental or nature ones are probably gonna work best because they won’t break your concentration.
3. Always meditate (together) first. You’re kinda gonna miss the whole point of yoga sex if you just walk into your bedroom and immediately get into the downward dog. Remember that mindfulness, peacefulness, and pacing oneself are all benefits of yoga — and meditation is what achieves all of this. Plus, meditation is proven to control anxiety, bring about self-awareness, and even give you a greater attention space. So, before any foreplay even begins, sit on the floor across from your partner, look into each other’s eyes, and breathe, deeply, in and out together, for at least 3-5 minutes. It will bring forth an energy that will make yoga sex — and orgasming — truly incomparable…that’s what my clients tell me anyway. #wink
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It really is so time out for bringing ageism into sex. If the body is able and the spirit is willing, you can be out here rivaling the 20-somethings. Yoga sex is just one option that cosigns on this — and has the data to prove it, chile. Enjoy!
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Featured image by Delmaine Donson/Getty Images