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4 Reasons to Take Control of Your Finances

black woman with a credit card
Portrait of a beautiful young African American woman with blond curly hair wearing lilac clothes holding a credit card with clipping path, looks away, thinking about purchases, isolated over pink wall

Greetings Chatters,


Do you know the benefits of getting your finances in order? I’ve been so busy these past few weeks with the release of our latest issue (the Favored & Fit issue), hiring a new managing editor, and planning our Her Money Matters event, but today I wanted to touch on the benefits of taking control of your finances.

We all think if only we had more money, but baby- let me tell you, it doesn’t even matter if you don’t know what to do with the extra money you receive. I assure you P. Diddy and Mase were serious about the more money you come across the more problems you see if you don’t handle it correctly. I was really amazed to see how well we did last year, but then I thought about how much better we could have done had I known more about money. 


If you are unsure about why you need to take control of your finances. Here are four reasons why.


Stop the Repeated Cycle of Debt.

About 340 million Americans are in debt according to Debt.org. The website also states that women usually have more debt than men, and the wage gap contributes to this. The credit card debt for Black families is $3,000 more than that of white families, and student loans also impact Black people disproportionately. 


Your dreams come with a hefty price tag. 

We all have dreams and goals, but if you know for a fact that your dreams are pretty lofty, you know you will need money. It’s important to be honest with yourself about this so that you can have adequate time to prepare. Proper financial planning prepares you for success. 


No one wants to be working for the rest of their life. 

Speaking of proper planning, we all hope to retire one day. I don’t think I know anyone who wants to work until they die, but that is a harsh reality for some. According to Annuity.org, women have an average of $57,000 saved, while their male counterparts have $118,000 stashed away. 


Eliminate stress. 

The American Psychological Association reports that “72 percent of Americans reported feeling stressed about money at least some time in the prior month.” That’s well over half Americans. Taking control of your finances can help to reduce stress. 


While these are reasons to better manage your finances, they are also the reason why we are hosting our Her Money Matters event. We want our sisters to be financially savvy. 

I’m personally inviting you out to this free event next week, where we will be speaking with several financial experts. Learn more about the event here.

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Francheska "Fancy" Felder is the founder/publisher/EIC of SwagHer Magazine. She is a -Single mother of 3 -Libra - Trapping scribe -Lover -Mental health advocate - Country girl -Proud, liberated Black goddess ________________________________________ Long Bio: Francheska “Fancy” Felder is the owner of Fancy’s Thoughts and the award-winning publisher and editor-in-chief of SwagHer Magazine, a lifestyle and empowerment publication for the Black woman who likes to keep it real in life and business. The magazine doubles as a PR boutique offering public relations services and visibility coaching, and Fancy strategically executes brand campaigns for Black women CEOs, coaches, and authors. The former teen mom started the company in 2010 while working as an exotic dancer, but soon after, her love for empowering Black women led her to abandon that lifestyle. She has received awards for her work as a positive news publisher and journalist telling the stories of Black women and other informative news that the Black community finds relevant, including the severe topics of Black mental health and domestic violence. The podcast she co-hosts with Arnya T.M. Davis, Theories & Thoughts, also continues these conversations. Fancy publicly speaks about her battle with bipolar disorder with hopes of helping others begin their wellness paths. She also shares her mental health story in contribution to the I Am a Black Woman- Next Level anthology, an Amazon Best-Seller. In the summer of 2022, RallyUp Magazine, a mental health magazine, featured Fancy as their cover story, where she opened up about receiving her diagnosis. The McComb, Mississippi native is part of Facebook’s independent journalism project, Bulletin, where she publishes The Higher South, and she was a member of the NABJ Entrepreneur Academy powered by CafeMedia in 2021. The Glambitous Guide to Self-Love, Peace, and Confidence contributor is an avid learner and creative. Currently, she is attending Southern University A&M College, completing her bachelor's degree and rearing her three young adults. Fancy enjoys learning more about spirituality, Black history, and feminism in her free time, along with yoga and walking.


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