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Personal Finance

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5 Ways To Maximize Your Money with Tiffany “The Budgetnista” Aliche

Tiffany “The Budgetnista” Aliche is an award-winning teacher of financial education and is quickly becoming America’s favorite, personal financial educator.

The Budgetnista

In this interview, we discuss what business skills have helped her build multiple multi-million dollar businesses. We also discuss her new book, “Get Good with Money”, and what it means to be “financially whole.” Tiffany also shared the first five steps to achieving financial wholeness.

 

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Tony O. Lawson


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Who wants to be a Millionaire? 5 Questions about Black Wealth Accumulation

Ayesha Selden, also known as EldRich Cleaver, Millie Holiday, Fidel Cashflow, Cicely Titles, and Dr. Julius Earning is a real state investor, coach, mentor, and author of the book “Mud 2 Millions.”

She has garnered a large online following no doubt due to amongst other things, her no holds barred, tough medicine style of preaching her message of “owning sh*t”.

We caught up with her to find out her thoughts on the ways that wealth can be created within the Black community.

What does wealth mean to you?

Wealth is the freedom of not having to trade time for money. Wealth is having the cash flow from performing assets support a life you deem comfortable. Wealth is being able to drop everything on a Tuesday and go spend time with your mom on her birthday.

Has becoming wealthy always been a goal of yours?

I grew up in a poor neighborhood in South Philly during the crack era where the wealthiest people we saw were drug dealers. Not only did I aspire to have wealth, I always knew I’d get there (legally or otherwise lol).

As a kid, I wanted a briefcase more than I wanted dolls. I was entirely fascinated by tall buildings, offices, and movies like Wall Street. My mom used to drive us to Gladwyn, an affluent suburb of Philly, to show us how the wealthy lived.

In stark contrast to the row homes and blight I saw in our neighborhood, our drives to Gladwyn showed me castle looking houses with pool houses larger than the modest home we lived in.

It was important for my mom to show us that there was more out there than just our neighborhood. I am so grateful for those car rides because it let me imagine what was possible.

Ayesha Selden

You are very vocal on social media about all things ownership and wealth building. Why are you so passionate about this topic?

I believe that we are the only solution for our community. Help is not on the way. It is the responsibility of “self-made” black people who came out of poverty to then reach back and teach others how to do the same.

Group economics is our way out but, chile, Black flight is just as real as white flight. We “make it”, head for the hills and never look back at those we have left behind. We then fixate on changing the political landscape, as our solution, and forget how powerful we are as a people.

And it’s easier to look at “voting” as a solution because it doesn’t require us to go back to “the hood”. We get to wear “I Voted” buttons and feel good about ourselves. Every election cycle reminds me of The Great White Hope meets Ground Hog’s Day.

Same promises (from normally some old white guy) and not a damn thing changes. We rely on a government system that has shown us for centuries that it shouldn’t be trusted.

Millions of Black people lived in poverty before we had a Black president and millions of Black people continue to live in poverty after we had a Black president. The government is not the solution for poor people and it amazes me that we think this same system we don’t trust will radically implement public policy to redistribute the wealth.

If we want to see real change in our communities, building an economy that allows the Black dollar to circulate and flip in our community the same way it circulates in the Jewish or Asian communities is where we start.

We then lobby with our capital to get done what we need. We buy a voice in Washington which is the only thing this country understands. Until then, a large percentage of black people will stay in poverty, we will continue to be shot by the police and we will keep marching and singing.

What do you feel is the first step on the path to wealth accumulation?

Let me start by saying that Black people are not at fault for the current state of our wealth as a people. Hell, the fact that we have survived generations of trauma is a testament to our resilience. Our income, wealth, and asset ownership are fractions of white wealth.

Systemic racism and the effects of redlining, mass incarceration of black men, racist hiring policies, etc all have a huge impact on black wealth today. I read a study done by Pew Trust that says even in the year of our Lord 2020, in most states, Black and Hispanic communities are taxed at higher rates than comparable predominantly white communities.

We now know that our communities are paying higher property taxes but also continue to see that our resources (schools, roads, sanitation departments, etc) are inferior to predominantly white communities. We are also overpoliced with our own tax money.

I can point out a million ways the playing field isn’t leveled and has never been. But where do we go from here?

I choose to normalize Black wealth because I don’t believe there is a politician or political party that will change this. The path of wealth accumulation is exactly why I wrote my book Mud 2 Millions. It was my journey to a million by 30.

Ayesha Selden

It sounds cliche but our mindset and our relationship with money are the genesis of wealth creation. We need a collective focus on changing the narrative in our communities. We need middle class and wealthy Blacks to come back and show those left behind how to build businesses and assets.

We also need some self-reflection about our individual relationships with money. Most of us weren’t left a penny of generational wealth. Most of us weren’t taught a thing about how to manage money. Most of what we were taught about money was a lie.

We need to completely deconstruct most of what we know about capital and how we feel about money and reframe with a mindset of building.

Once I change my mindset, where should I start on my wealth journey?

Your net worth builder is in that sweet spot between your income and expenses. We call the amount of money left over after all of your expenses are paid, “discretionary income”.

If you find yourself living paycheck to paycheck, there are generally two ways to tackle this:

Drastically cut expenses or generate additional income through a side hustle after your 9-5 and/or weekends. I prefer a combination of boffum–curbing expenses and a side hustle because I’m trying to get the bag expeditiously.

 It’s important to look at where we are spending our money. Is it on things we need or are we overcompensating for being teased as kids for having trash sneakers?

In my book, I talk about a dozen or so side hustles to generate additional income (vending machines, real estate wholesaling, arbitrage online sales, trucking business, etc.).

If you can earn an extra $500 to $1,000/month in income, that could be all the difference in building wealth and leaving a legacy for generations.

Again, while where we are is not our fault, it is our responsibility to change the narrative for ourselves and future generations.

Why? Because no one else will. Peace.

Ayesha Selden
Ayesha Selden

Read the remaining wealth steps in Ayesha’s book, Mud 2 Millions.

Tony O. Lawson


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Tela Holcomb Retired At 29 After She Taught Herself How To Trade Stocks

From the outside looking in, you’d never know that Tela Holcomb has a net worth closely approaching the millions. She’s a happy mother and wife who lives below her means but made financial freedom a priority.

Not too long ago, Tela had a government job, worked a 9 to 5 and knew nothing about the stock world. But with diligence and practice, she was able to master her craft and earn over $1 million in four years from stocks and trading alone. Nowadays, there are platforms similar to Stocktrades where you can subscribe to have access to information and make smarter investing decisions based off of it. With an industry like the stock market, it may take some time to get to terms with how it all works. But the more you know, the better it will be for you when you plan on making your first investment. If you are like Tela and want to become involved in this field, here’s how to buy stock. It is definitely worth doing your research before making any moves.

And she’s here to help you do it too. In this interview with BAUCE, Tela shares what motivated her to get in stocks, the initial fears she overcame, and why she decided to build her own platform to help other women of color financially rise to the top as well.

Tela, I want to set the stage here. What was your 9-to-5 job before you got into stocks and trading?

Tela: So before I started trading, I was doing administrative work for the government. I was doing that for about seven years. What really made me want to start learning about stocks was this guy I worked with that was always talking about how he was going to retire early from trading on the stock market. He had this whole plan to RV the country and do all this crazy stuff. It made me curious.

I thought to myself if he can do it, I know I’m smart — I can figure this thing out. So that prompted me to just really start asking him questions because other than knowing the fact that the stock market existed and that there was a channel that talks about it all day, I didn’t really know anything else about it. And I didn’t have anyone growing up or around me at the time that I ever really talked to about trading outside of your 401k or investing. So that’s really what piqued my interest. I started asking him about what books to read, and what courses to take.

What resources helped you learn about the world of stocks when you were first starting out?

Tela: Honestly, it varied. A lot of the information goes completely over your head. So I had to Google a lot of stuff. I also went to Investopedia a lot and then I would also break things down for myself. Once I figured out what a term meant, I would find a way to figure out how it related to something I’m used to in everyday life so that it was easier to explain. Think about how you teach a child to tie a shoe.

You’re not telling them “rotate your strings 45 degrees and loop them around”. Instead, we say things like “the rabbit jumped over the log or make these bunny ears”. That’s how I truly mastered the stock game — by breaking through the lingo.

Did you have children when you started trading?

Tela: Yeah, I was a single mom at the time when I first started.

Having a side hustle while you have a job can be exhausting. How did you automate trading into your schedule? How did you find the time to learn all this information?

Tela Holcomb

Via Tela Holcomb

Tela: In the beginning, you have to allot time to it. I did it only because I was committed to having it replace my job. I was committed to having it generate income for me. But I didn’t want it to take all my time away from my family. What I did was find the time that I was already pretty much wasting — like all the time I was using to watch television — and reallocate it to learning about stocks.

So while I sat outside and watched my daughter play, I would be reading a book about the stock market. I would be looking at stock charts. When I was sitting at doctor’s appointments waiting to be seen, I would be scrolling through information about stocks on my phone. I chose to use the dead times in my day also to do more studying and more learning.

What was the first stock you ever purchased?

Tela: The first stock purchased was Coach [laughs] because I love purses. I was like, you know, what, if I can make the money to purchase the purse I want through the stock then I’ll get it. I will use it as a way to motivate me.

But when you purchased that first stock, did you know how soon you would get a return on it?

Tela: Uh, you know, at first I didn’t know. It was all practicing and that’s something I try to encourage people to do is use a practice account first before you use your real money. I lost money the first time around but I kept kind of trying to practice and figure it all out.

But then I started to learn that there are trends in stocks. There are some stocks that tend to [go through] the same type of movement, you could learn about these types of moments at sites about cannabis stock news. Maybe they always go up during a certain time of year or they always go down during a certain time of year. So once I discovered that I started to find the trends and all these different stocks. With Coach, I realized the stock always goes up around a certain time of year. So I knew I had a great chance of it going up because that was the trend of that stock.

What practice accounts do you recommend for people starting out?

Tela: There’s two practice accounts that I would definitely recommend. One is through Investopedia. They actually have a practice simulator on their website that people can use to kind of play around and get a feel of things. There’s also thinkorswim by TD Ameritrade. I love their practice platform. It’s a little techy for most people, but it’s definitely powerful and I highly recommend it.

The biggest mistake is trying to get out there with your real money when you have no idea what’s going on. I get people all the time that put their money out there and then they don’t even know how to sell it. Take the time to practice and learn this. The stock market’s not going anywhere. All this money is still going to be there to be made.

You talk about stocks as a path to financial freedom. Do you think stocks are for everyone?

Via TelaHolcomb.com

Tela: Yes. I believe everyone should have stocks as a part of their wealth building or their “legacy building”. Because we can’t pass down financial legacies if all we’re doing is saving and budgeting. So stocks, real estate, something of value — some type of investing needs to be a part of your wealth building plan so that you can start building a financial legacy within your family.

You have your own platform where you share these tips and jewels. What motivated you to start sharing these resources with other people, especially African Americans?

Tela: I decided to create my own platform to educate people and share my story because when I started there weren’t very many people trading stocks that looked like me. And so when I started that was a little discouraging for me. It also felt that no one was explaining it in a way that I needed to understand so all the information clicked. So I had to do that on my own.

I realized that there are more people out there that look just like me who probably are feeling the same way that I did when I started out. They may look around in the space and feel that they don’t think they have a chance to succeed in this. So it’s really for me to be out here and represent so that other black women (and men) can see what’s truly possible. As long as we are motivated and we take the time to put into the things we want — anything is possible.

Sign up for her free course here.

Source: Bauce Mag


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Black Owned Venture Capital, Private Equity & Angel Investment Firms

Less than 1% of American venture capital backed founders are Black and the percentage of Black people in decision making roles within the venture capital arena is not much higher. This lack of diversity within investment firms ultimately translates to a lack of diversity in the companies that they invest in.

The good news is that there are a growing number of Black owned venture capital and other investment firms run by people of color who understand that Black founders present a large and untapped market.

These investors make it a point to include Black startups in their portfolio, and in some cases, focus solely on underrepresented entrepreneurs.

Black Owned Venture Capital, Private Equity & Angel Investment Firms

Collab Capital is an investment fund leveraging financial, human, and social capital to help founders build sustainable, technology enabled businesses

Collab Capital Managing partners Barry Givens,  Jewel Solomon Burks and Justin Dawkins

Black Star Fund is an angel/venture fund that focuses primarily on early-stage technology companies.

Serena Ventures focuses on early stage companies and giving them the opportunity to be heard.

GenNx360 Capital Partners is a private equity firm that focuses its investments in industrial and business services companies in the U.S. middle market.

Daphne Dufresne-Managing Partner – GenNx360

Authentic Ventures is a seed and early stage Venture Capital Firm that believes that a strong, inclusive network of founders, operators, and investors can accomplish great things.


Lindsay Lee, Founder & Managing Partner of Authentic Ventures

Impact America Fund is an investment company that funds market opportunities that use technology to enhance the lives of all Americans.

Kesha Cash – Founder and General Partner – Impact America Fund

645 Ventures is a seed to Series A VC firm that applies a data-intensive approach to investing in top software and Internet companies.

Nnamdi Okike, Co-Founder & General Partner – 645 Ventures

Backstage Capital is a venture capital fund that invests in new companies led by underrepresented founders in the U.S.

Arlan Hamilton –
Founder & Managing Partner – Backstage Capital

Harlem Capital Partners is a diversity focused venture capital fund that invests in early stage companies focused on tech-enabled services, retail, and real estate.

Harlem Capital co-founders, Henri Pierre-Jacques and Jarrid Tingle.

Precursor Ventures operates as an early-stage venture capital firm. The company invests in seed and early-stage consumer, digital health, education, Fintech, hardware, and SaaS companies.

black owned Venture Capital
Charles Hudson, Managing Partner and Founder of Precursor Ventures

KICVentures is an investment holding company that creates, invests and manages several portfolio companies in the health-tech sector.

Dr. Kingsley R. Chin — Managing Partner & CEO – KICVentures

Fairview Capital Partners is a leading venture capital and private equity investment management firm. They implement innovative fund of funds, co-investment, and customized investment strategies for institutional investors.

JoAnn H. Price – CO-FOUNDER / MANAGING PARTNER of Fairview Capital Partners

The Bronze Venture Fund makes and manages innovative investments that align strong financial returns with positive social impact.

Stephen DeBerry – founder and chief investment officer – The Bronze Venture Fund

DiverseCity Ventures (Sacramento, CA) invests in scalable, technology-enabled companies that have a social, economic, or environmental impact and high potential for outsized returns.

black owned Venture Capital
Mariah Lichtenstern, Founder and CEO -DiverseCity Ventures

Cross Culture Ventures  invests in and develops companies that fuel shifts in cultural trends and behaviors within an increasingly diverse global marketplace.

Marlon Nichols – Co-founder/ Managing Partner- Cross Culture Ventures

Vista Equity Partners is a private equity and venture capital firm focused on financing and forwarding software and technology-enabled startup businesses.

black owned Venture Capital
ROBERT F. SMITH, Founder & CEO of Vista Equity Partners

Base Ventures is a seed-stage fund investing in technology companies.

black owned Venture Capital
Erik Moore – Founder and Managing Partner – Base Ventures

Reinventure Capital is a growth-stage equity and debt investment practice focusing on founders of color and women.

Edward Dugger III –
founding partner and President – Reinventure Capital

Syncom Venture Partners is a leading venture capital firm primarily focused on growth stage investments in emerging and underserved segments of the media and communications industry.

black owned Venture Capital
Terry L. Jones, Managing Partner – Syncom Venture Partners

Cleo Capital is an early-stage venture capital fund that invests in pre-seed and seed stage tech and tech enabled investments. 

black owned venture capital
Sarah Kunst, Managing Director at Cleo Capital

CRE Venture Capital is a venture capital firm that invests in technology-enabled startup companies.

black owned venture capital
Pule Taukobong, Co-founder & Managing Partner at CRE Venture Capital

Plexo Capital is a hybrid venture capital (VC) firm investing both in emerging VC funds and in early stage companies.

black owned Venture Capital
Lo Toney, Managing Partner at Plexo Capital

Base 10 is an early-stage venture capital firm investing in the automation of the real economy.

black owned Venture Capital
Adeyemi Ajao, Co-Founder of Base 10

lllumen Capital is a venture capital firm that invests in early-stage and start up companies.

black owned Venture Capital
Daryn Dodson, Managing Director at Illumen Capital

 

Tony O. Lawson


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16 Black Personal Finance Educators & Experts

Confession: I’m lightweight obsessed with building generational wealth and making the best personal finance decisions.

And why not be obsessed about it? The financial security that I want to create for my children’s children’s children can’t be built on hopes and dreams. It’s gonna take serious planning and preparation.

Part of that planning and preparation involves seeking advice from experts like Peregrin Private Capital. But there are so many people offering to help you “get your money right”. Who do you choose? Who can you trust? Who you gonna call?

To make that decision easier for you we’ve put together a list of melanated money mavens. These financial freedom fighters will help you make smart decisions related to budgeting, saving, spending and investing.

We’ve listed the vets and O.G’s as well as the New Jacks and Millennials. Research them to see who’s advice, opinions and values align best with yours. You see where I said do your research, right? Ok, cool. That way you can never say Tony ruined your life 😉

Personal Finance Educators & Experts

Michelle Singletary is a nationally syndicated columnist for The Washington Post. Her award-winning column, “The Color of Money,” is carried in over 100 newspapers and finance blogs that provides insight into the world of personal finance. If you run a personal business, corporate finance consulting may be useful to you too!

Dr. Boyce D. Watkins is one of the leading financial scholars and social commentators in the country. He advocates for education, economic empowerment and social justice.

Tiffany “The Budgetnista” Aliche is a best selling author, speaker and passionate teacher of fun, financial empowerment. Her company specializes in the delivery of financial literacy education.

personal finance

Jarim Person Lynn is the creator of Brass Knuckle Finance, a wealth building philosophy that promotes a cash based, no debt, high investment return way of life.

Carrie Pink, your “Financial Stylist”, is a lifestyle blogger, finance coach, and mom of five who teaches women how to blur the lines between frugal and fabulous so you can live an overall richer life.

Tonya Rapley is a nationally recognized millennial money expert. Her mission is to help millennials break the cycle of living paycheck to paycheck so that they can become financially free.

Malcom “MJ” Harris is the CEO of the National Care Financial Group, one of the largest Black owned financial services firms in the country.

Dr. Eric Patrick is the “Hip Hop Stock Doc” and the Founder and Chief Investment Educator of Black Market Exchange, LLC. He provides investment education so individuals may understand the stock market at its core enabling them to produce sound investment decisions.

After studying and mastering personal finance, Jalesa Ann paid off over $40,000 in debt, and began on the road to financial freedom. Now she uses her expertise to help other’s become moguls over their money through her company, “My Money Mogul

Marsha Barnes is the founder of The Finance Bar, a personal finance suite and mobile hub based in a retrofitted school bus. The Finance Bar aims to bridge the gap between individuals and financial wellness.

Kristin Sutton, LPC is empower young women to change the way that they think about money. She wants you to start budgeting like a BO$$

Clever Girl Finance is the creation of Bola Onada Sokunbi. She’s a Certified Financial Education Instructor (CFEI), money coach and all round finance junkie. She also saved $100,000 in 3.5 years.

Dominique Broadway is an award winning Financial Planner and the creator of Finances De•mys•ti•fied, an award winning organization that provides Personal Finance Coaching & Financial Capability solutions.

Kara Stevens is founder of the personal finance and lifestyle blog The Frugal Feminista , an online home dedicated to inspiring and informing women of color about financial empowerment, girl power, and “juicy” living.

Dominique Brown is a licensed financial advisor who helps individuals and small businesses overcome their financial roadblocks to financial freedom.

Kendra N. James is the Founder & CEO of The Finance Femme, a business financial consulting firm for women entrepreneurs. Helping entrepreneurs “manage money and control the chaos.”

-Tony Oluwatoyin Lawson