Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We may receive a commission when you click on links for products from our affiliate partners.
Some personal money management techniques have taught us that if we can’t afford a house it’s because we buy too many coffees, or if we just cancel our $8 Netflix subscription we’ll get out of debt quicker. But that advice fails to account for the way unequal systems and stringent or limiting beliefs can impact our relationship with money — and set us up to fail if we aren’t careful.
That’s where Finance for the People: Getting a Grip On Your Finances, a recently released personal finance book by Paco de Leon, comes in. De Leon’s personal experiences as a financial planner, who went on to start her own business, taught her a lot about the ways in which an unequal system, personal limiting beliefs and traditional advice that feels too “blamey” can hold individuals back from building wealth.
Paco de Leon is the Founder of The Hell Yeah Group, a financial firm that assists creatives with their personal and business finances. Select caught up with Paco to talk about her learnings and what readers can look forward to in her book. Here’s what she had to say.
Q&A
Select: Growing up, we observe our families’ experiences with money and this often goes on to shape our own thoughts and feelings about money as adults. What role did money play in the household you grew up in?
Paco: “My childhood experience around money was a common one where my parents didn’t talk about money. It wasn’t something we had conversations about; they never sat down and said here’s a paycheck, put some of it into your savings and spend some of it. I think that’s a really common thing for folks growing up especially with immigrant parents who, when they first got to America, were preoccupied with surviving and doing the best they could. So I feel very grateful that I chose to study finance and got a job in financial planning. Thanks to everything I learned, I was able to make up for the lack of education in my household.
I’ve had positive experiences with my childhood and money. I know some people don’t have that privilege. I remember having a big birthday party one year where I received a lot of envelopes filled with money. I remember thinking it was so cool that you could grow up and get money as a gift for your birthday. The other experience that stood out …….
Source: https://www.cnbc.com/select/paco-de-leon-finance-for-the-people-unconscious-beliefs-money/