Do you feel that wealth is not accessible for you? Or do you feel that building wealth is not possible because you think you don’t belong where you are? Let me tell you that you are not alone. This is just a perception because you can’t compare yourself to anybody, everyone’s journey is different. Pursue your journey because you deserve all the great things and you will discover that wealth is at your reach. Always continue learning how to equip yourself with knowledge and skills to manage your money, shift your mindset and embrace your life- present and future.
In this episode, Rita-Soledad, shares with us her first money memory and why she grew up thinking wealth was not accessible for her. She also shares a piece of advice for other first-gen Latinos like her and how financial literacy changed her financial journey.
Rita-Soledad Fernández Paulino is a former math teacher turned personal finance enthusiast after becoming debt-free while sick on medical leave. She is committed to talking dinero with anyone willing to listen so that we can all build wealth juntos. She is currently studying to become a Certified Financial Planner to ensure more BIPOC & LGBTQ people can receive financial planning from someone who understands their challenges and dreams.
What you’ll learn about in today’s episode:
- The recurring message she received growing up about education
- Why she grew up thinking wealth was not accessible for her
- How she decided to focus the message of Wealth Para Todos
- Her best piece of advice for other first-gen Latinos like her
Rita-Soledad’s Money Journey
Soledad’sparents immigrated to the U.S. when they were children. For her grandparents, education was very important, this is why Soledad’s parents went to school and college. Both her parents grew in poverty and even while having pensions, her parents didn’t have the mentality of saving, having an emergency fund or building wealth.
Soledad’s mother, as a single mother was very committed to buy properties in order to be building wealth and financial security for her family. he had two properties, but always struggled to pay for the mortgage, so they were not able to pay for house’s repairs or things that they actually wanted at that moment. This had an impact on Soledad because she felt like she was behind in comparison to her high school friends. Despite the struggles to pay for the mortgage, Soledad’s mom never gave up on the house, and years later, that house helped Soledad to go to college.
Is Wealth Accessible For All?
Soledad grew up thinking that wealth was something accessible just for white Americans because every Latino around her was always hustling and working multiple jobs. She thought that life was always going to be a struggle.,
In addition, growing up in a neighborhood filled with gang violence, being a daughter of immigrants (and divorced parents), and living in a low-income household, her mentality was to spend money on things she didn’t want or even care about, just to be accepted. Building wealth with everything she had experienced was not in any Latino’s financial plan.
Wealth Para Todos
Wealth Para Todos started when Soledad became debt-free. She had started to read personal finance books, and finally had a blueprint of what she could possibly do to be building wealth. She started to share all her knowledge about emergency funds and investing in the stock market with family and friends, but nobody wanted to talk about it. Soledad respected her family and friends’ decision not to talk about it and instead started to create a support system. This included all the people she thought needed to hear her story and experiences, people who had the same feeling that wealth was not within their reach.
On Wealth Para Todos she shows her authentic self, how financial literacy changes her financial journey, and why wealth is accessible for all.
“Take pride in every milestone that you reach, it’s going to happen poco a poco. Stay calm, and you can reach your goals. You can’t compare yourself to other people who don’t have your journey. Just only compare yourself to your past versions.”
Resources From This Episode:
Soledad on Instagram: @wealthparatodos
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I want to hear from you! What was your favorite takeaway from this episode? Come on over to @HerDineroMatters on Instagram and share it with us there.
Abrazos + Much Love,
P.S. ¡GRACIAS por escuchar! THANKS for listening!
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The post, How To Make Building Wealth A Possibility Now | HDM 260 appeared first on the Her Dinero Matters Podcast.