Financially Fabulous in Black or White
Today on the podcast, I am tackling a topic that I have discussed offline, but never discussed online. People ask me all the time who are the hardest clients to get financially fit; and without a doubt some of my biggest challenges (and they would say so themselves) are my black women clients. For a number of reasons, they struggle with cultural, community and familial challenges that provide obstacles to their financial health.
While at FinCon, I discussed these challenges with one of my favorite and fabulous bloggers, Tonya from My Fab Finance, and I was thrilled when she agreed to come on the show and have an honest dialogue about the challenges. This is a long conversation that explored a number of ideas from hair, to mentors to women’s struggles in general. I hope you enjoy it!
What are we drinking?
Tonya – Ginger and Captain Morgan (She claims it tastes like cream soda. If anyone else can confirm this, I would love to know!)
Shannon – Vodka, Soda, Splash of Cranberry aka The Ponytail
- Tonya talks about her parent’s military background and how that shaped her upbringing
- Tonya shares how her financially and emotionally abusive relationship drove her to change her financial future
- Tonya started My Fab Finance in 2013 to hold herself accountable for her financial journey
- Shannon talks about her challenges getting her black women clients financially fit
- Tonya talks about becoming a financial educator because she didn’t see anyone who looked like her in the mainstream media
- We talk about the challenges of maintaining a budget when your hair just won’t cooperate
- Tonya shares the conversation she had with her mother when she decided to wear her hair naturally
- Tonya talks about how the money habits of our parent’s generation impacts our finances
- Shannon and Tonya talk about the struggles of helping people get financially stable while also balancing the requests for money from their families
- Tonya talks about the “Instagram Prosperity” challenge
- Tonya discusses the problem she sees with shaming people for being working class
- We talk about the importance of mentors and finding them in or out of your community
- Tonya shares her best advice for people who are struggling to live a financially fabulous life but live in a non-supportive community
- “The more you define what matters the easier it is to avoid what doesn’t matter”
Random Three Questions
- What is your biggest financial regret?
- If you could have any superpower what would it be and why?
- What’s your favorite restaurant?
Do you think there are cultural, community or familial challenges to getting financially fit? Does your community or family help you get financially fit or challenge your finances?