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.
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Kayla Nicole says she wore a dress that was once worn by Braxton herself for the Halloween costume. “It’s not a secret Toni is more on the petite side. I’m obsessed with all 5’2” of her,” she tells xoNecole via email. “But I’m 5’10'' and not missing any meals, honey, so to my surprise, when I got the dress and it actually fit, I knew it was destiny.”
The episode was the perfect way for the multihyphenate to take control of her own narrative. By addressing the viral moment on her own platform, she was able to stir the conversation and keep the focus on her adoration for Braxton, an artist she says she grew up listening to and who still makes her most-played playlist every year. Elsewhere, she likely would’ve received questions about whether or not the costume was a subliminal aimed at her ex-boyfriend and his pop star fiancée. “I think that people will try to project their own narratives, right?” she said, hinting at this in the episode. “But, for me personally – I think it’s very important to say this in this moment – I’m not in the business of tearing other women down. I’m in the business of celebrating them.”
Kayla Nicole is among xoNecole’s It Girl 100 Class of 2025, powered by SheaMoisture, recognized in the Viral Voices category for her work in media and the trends she sets on our timelines, all while prioritizing her own mental and physical health. As she puts it: “Yes, I’m curating conversations on my podcast The Pre-Game, and cultivating community with my wellness brand Tribe Therepē.”
Despite being the frequent topic of conversation online, Kayla Nicole says she’s learning to take advantage of her growing social media platform without becoming consumed by it. “I refuse to let the internet consume me. It’s supposed to be a resource and tool for connection, so if it becomes anything beyond that I will log out,” she says.
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.
"I refuse to let the internet consume me. It’s supposed to be a resource and tool for connection, so if it becomes anything beyond that I will log out."
Credit: Malcolm Roberson
Throughout each episode, she sips a cocktail and addresses trending topics (even when they involve herself). It’s a platform the Pepperdine University alumnus has been preparing to have since she graduated with a degree in broadcast journalism, with a concentration in political science.
“I just knew I was going to end up on a local news network at the head anchor table, breaking high speed chases, and tossing it to the weather girl,” she says. Instead, she ended up working as an assistant at TMZ before covering sports as a freelance reporter. (She’s said she didn’t work for ESPN, despite previous reports saying otherwise.) The Pre-Game combines her love for pop culture and sports in a way that once felt inaccessible to her in traditional media.
She’s not just a podcaster, though. When she’s not behind the mic, taking acting classes or making her New York Fashion Week debut, Kayla Nicole is also busy elevating her wellness brand Tribe Therepē, where she shares her workouts and the workout equipment that helps her look chic while staying fit. She says the brand will add apparel to its line up in early 2026.
“Tribe Therepē has evolved into exactly what I have always envisioned. A community of women who care about being fit not just for the aesthetic, but for their mental and emotional well-being too. It’s grounded. It’s feminine. It’s strong,” she says. “And honestly, it's a reflection of where I am in my life right now. I feel so damn good - mentally, emotionally, and physically. And I am grateful to be in a space where I can pour that love and light back into the community that continues to pour into me.”
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
Anyway, I personally think that the less shallow folks out here may contemplate calling things “quits” or they at least distance themselves a bit from their partner (and what I’m referring to is serious relationships) due to all of the stress and strain that oftentimes comes with the holidays whether it be financial, familial, due to their tight schedules or something else.
Listen, I would hate for you and your man to miss the fun and happiness of experiencing this time of year, all because you are so overwhelmed or irritated that you can’t really enjoy it. That’s why I have a few practical tips for how to avoid allowing the typical holiday season stress from INFECTING your relationship.
Manage Your Expectations
GiphyUnmanaged expectations. If there is a main reason why the holiday season tends to be so stress-filled for so many people, I’d bet good money that this is the cause. And when you’re in a long-term relationship, expectations can manifest themselves in all sorts of cryptic and/or unexpected ways. You might have relatives who assume that you are going to be with them for Thanksgiving or Christmas when you have other plans in mind. You might be thinking that you are going to spend one amount for presents while your man is thinking something totally different. When it comes to scheduling, your signals may be crossed.
And you know what? To all of these scenarios, this is where clear and consistent communication come in. Don’t assume anything. Don’t dictate anything either. From now until New Year’s, mutually decide to check in once a week, just to make sure that you are both on the same page as it relates to the holidays and what you both are thinking will come along with it. The less blindsided you both feel, the less stressed out you will be. Trust me on this.
Set (and Keep) a Budget
GiphyOkay, so I read that last year, 36 percent of Americans incurred some type of holiday-related debt. Hmph. Last year, there was still some sense of normalcy in this country, chile, so I can only imagine what finances are gonna look like over the next several weeks. That said, since I don’t know a lot of people who don’t find being broke stressful, make sure that you and your bae set a budget and then stick to it this year — no ifs, ands or buts.
Because really, y’all — it doesn’t make sense to deplete savings and/or max out credit cards for a few days of giggles only to be damn near losing your mind because you don’t know how to make ends meet come Dr. Martin Luther King, Jr. Day.
And by the way, this tip doesn’t just speak to things like food and gifts; I also mean travel. If it doesn’t make a ton of sense (or cents) to be all over the place this year — DON’T BE.
Keep Matthew 5:37 at the Forefront
GiphyIf off the top of your head, you don’t know what Matthew 5:37 says, no worries, here ya go: “But let your ‘Yes’ be ‘Yes,’ and your ‘No,’ ‘No.’ For whatever is more than these is from the evil one.” That verse right there? Oh, it’s a boundaries lifesaver! I say that because do you see “maybe” or “I’ll think about it” in there? Nope. LOL. It says that you should tell people “yes” or “no” and leave it at that — and that complements Anne Lamott’s quote, “’No’ is a complete sentence” impeccably well. Yeah, you’ve got to remember that anything beyond a yes or no to a request is privileged information; you don’t owe anyone details or an explanation.
Besides, if you are really honest with yourself, when someone asks you something and you give a “Umm, let me think about it” kind of reply, more times than not, you already know what your answer is going to be — so why not let you both off of the hook? Give your response. Commit to that. And let everyone (including yourself) get on with their lives and schedules.
I promise you that when it comes to those holiday parties, you are pissing more folks off by not RSVP’ing or doing so and not showing up than just saying, “Thank you but not this year” off the rip.
Remember That Your Personal Space Is Privilege Not a Right
GiphyA friend of mine recently bought a new house and invited me over to come see it. He’s a single man with no children, so as I was taking in all of the space that he had, especially as I walked through his finished basement, I joked about relatives coming to live with him. “Hell no” and “absolutely not” were pretty much his immediate responses as he went on to say that some folks even had the nerve to be offended when he told them that he had no intentions on taking DNA in.
Ain’t it wild how people think that your stuff is their right? And yes, that brings me to my next point. Your home is your sanctuary space. If you want to host folks this year — cool. If not, ALSO COOL. Please don’t let folks (family included) guilt you into how they want you to act or even into what they would do if the shoe was on the other foot. You are not them — and as one of my favorite quotes states, “If two people were exactly alike, one of them would be unnecessary.” (A man by the name Larry Dixon said that.)
Hell, my friends? They know that I am good for sending them random things that they need or even want all throughout the year. Coming over to hang out at my pace, though. Uh-uh. Chalk it up to being a card-carrying member of the ambivert club yet I like keeping my living space personal — and I sleep like a baby, each and every night, for feeling that way.
Always remember that your space, your time, your resources, your energy and shoot, yourself period (including your relationship), are all things that are your own. You get to choose how, when and why you want to share them. The holiday season is certainly no exception.
Cultivate Some “You Two Only” Traditions
GiphyIt’s not uncommon for some couples to hit me up after the holiday season to “detox.” Sometimes it’s due to the financial drama (and sometimes trauma) that they experienced. Sometimes it’s because they allowed their relatives (especially in-laws) to get more into their personal business than they should’ve. More than anything, though, it tends to be because they didn’t get enough quality time together and so ended up feeling “disconnected.”
Please don’t let that happen. Listen, I’m not even a holidays kind of woman and yet, I will absolutely sit myself down with some hot chocolate and chocolate chip cookies to enjoy a Hallmark holiday film or two. Aside from the fact that most of them are lighthearted and sweet, I also like that they usually focus on couples loving on each other amidst all of the holiday beauty and ambiance — which is something that all couples should set aside some time to do.
Maybe it’s a vacation. Maybe it’s a staycation. Or maybe it’s my personal favorite, A SEXCATION. Whether it’s for a few days, the weekend or even overnight — don’t you let the holidays go by without setting aside time for you and your man to celebrate one another. Don’t you dare (check out “Are You Ready To Have Some Very Merry 'Christmas Sex'?”).
GET. SOME. REST.
GiphyI once read that 8 out of 10 people get stressed out over the holidays and 3 out of 10 lose sleep during to it — and when you’re stress-filled and sleep-deprived, that can absolutely lead to hypersensitivity, making mountains out of molehills and even not being in the mood for sex.
Your relationship can’t afford to go through any of this, so definitely make sure to prioritize rest. I don’t care how unrealistic it might seem during this time, sleep should never be seen as a luxury; it will always and forever be a great necessity.
That said, try to get no less than six hours of shut-eye in (check out “6 Fascinating Ways Sex And Sleep Definitely Go Hand In Hand”) and even ask your bae to take a nap with you sometimes (check out “Wanna Have Some Next-Level Sex? Take A Nap, Sis.”). Not only will sleep help to restore your mind, body and spirit but, when it’s with your partner, it’s an act of intimacy that can make you both feel super connected, even in the midst of what might feel like chaos.
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Holiday season stress is real. Still, never give it the permission or power to throw your relationship off. Put you and your man first and let the holidays be what they are gonna be, chile.
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