Mindset: Nevia's Millionaire Mindset Changed Her Life — and Could Change Yours, too
Episode Summary
Nevia L. is an alum of Wealth Circle 26. In this throwback episode, she shares her journey in moving from a relationship with debt to one focused on wealth building. She also gives some examples about how she's gotten creative with her financial goals, including taking on an amazing side hustle to save up for a down payment with a friend.
Episode Notes
Nevia L. is an alum of Wealth Circle 26. In this throwback episode, she shares her journey in moving from a relationship with debt to one focused on wealth building. She also gives some examples about how she's gotten creative with her financial goals, including taking on an amazing side hustle to save up for a down payment with a friend.
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Transcript
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Hey guys, it's Caro Factora’s podcast editor. Today's the final week of a six week series where we feature incredible women of color in the Factora community celebrating their money wins across the board. The conversation we're sharing today is one of our top listened episodes of all time, and for good reason. It's between Allegra and Wealth Circle alum Nevia. And it's all about how you can start to cultivate a millionaire mindset. It's hard to summarize all of the incredible wisdom nuggets that show up throughout this conversation. So instead, I'm going to offer a quote from Nevia herself, which takes place about halfway through this conversation. Here's what she says. my net worth may currently be in the negatives, but my mindset is constantly growing and is in the positives every single day. There are so many great little tidbits in here, including how Nevia took on a side hustle to help contribute to a joint downpayment account between she and her friend. At the time of recording, they're planning on buying their first property to flip into an investment. I truly think this episode is a masterclass on how to cultivate a wealth building mindset. I hope you enjoy it as much as I did, and I'll let Allegra take it away.
This is Allegra Moet Brantley and you're listening to the coffee and coin podcast where women talk wealth. I'm the founder and CEO of Factora, a company on a mission to lead 1 million women to 1 million in net worth. Because when women have more money, we'll have more power to be the change we want to see in the world. If you're ready to hear real women share their real numbers and investment journeys and have a sneaky feeling you should be doing a little more with your money, you are in the right place. Just sit back, relax and turn me up.
All opinions expressed by Team Factoria and podcast guests are solely their own and do not necessarily reflect the opinions of Factora Incorporated. This podcast is for informational purposes only and should not be used as the basis for investment decisions. Team Factora. And podcast guests may maintain positions in the securities or investments discussed in this podcast.
Welcome back to another episode of Coffee and coin. I have Nevia L. on the pod with me today. Welcome Nevia
Hi, everyone.
I'm so glad to have you here. We are gonna get into all things mindset when it comes to your money. And you have made so many incredible changes to your finances to your life. And definitely your mindset. So before we get started, could you give everyone a short bio of who you are and what it is that lights you up?
Yes. So my name is Nevia Lopez and I am currently working for a sustainable food startup called prep to your door. And truthfully this company's mission lights my soul on fire. It's one of the few organizations that I found whose company values so deeply aligned with my own. And their mission is to cultivate change through food by delivering organic, ready to eat meals and zero waste Mason dies. So I've held almost every position at this company from operations to HR, and now I'm in a full time growth role. So their go to gal for anything networking, marketing, field marketing events. And so I really like to use my talent and my communication skills to really propel this company's mission forward. And I'm also holding to leadership roles in my business networking international group. And I'm also on the board of a nonprofit organization called Joshua stage, which is an enrichment program for children with special needs.
So much there, you're doing so much, and you're such a passionate person, which is something I love about you. Talk to me a little bit about how you found your way to Factora. And when you took a wealth circle,
yes. So throughout 2020 We obviously had a lot of time to kind of just go inward, and I started working with a coach, she had just started her journey of like flipping a property and gaining some passive income. And I was like, Whoa, what is passive income, like, up until 26 I did not even realize that you could earn money passively. And that is just my truth. And so I was like, wow, like, you can earn money when you sleep. That's great. So the way she was doing that was through real estate. So I was like how do I get into this real estate game like what what do I need to do? So I started that was just kind of like what birth my son financial journey and I was like, Okay, I'm 26 years old, which, as everybody knows, 26 is the age that you get kicked off all the parents insurances, you kind of it's this, like, it was this beautiful, perfect storm of me needing to get real with my personal finances. And so, you know, I did all the basics of like, getting coverage, health coverage, all the insurances, and then I was like, Okay, now I want to focus on the growth. And so I was introduced to this little like, coffee and investments medium Meetup group, it was like four guys and me every single Thursday from eight to nine. But one of the men who was running that group also knows my CEO and founder of prep to your door fires. And so I would talk a lot and share my experiences with fires just in the workplace setting. And he was like, Have you ever heard of Factora? And I was like, no, what is this? And he was like, well, it's just, you know, it's basically an amazing group of women, pretty much speaking and doing everything that you're learning now with coffee and investments Meetup group, and I was like, Oh, I gotta learn about it. So I press follow on Instagram. And then I think within a month or two, I had signed up for one of the free webinars think like an investor. And that was when I learned about the rising tide scholarship, I applied for that, and I got it. And I will never forget the moment when I received I was a finalist, it was like, on Christmas, or it was the day before Christmas. And I was just like, this is like the best Christmas gift ever. For where I really was at the time. It was great. So that was how I got introduced to Factora. And then I am now a recent graduate of the wealth circle. 25 and I'm currently a facilitator for the Fall wealth circle. 26
I love it. I love how your journey came to be to bring you to Factora, and how once you got involved with Factora, you've never left. We don't want you going anywhere.
I don't plan on it.
Okay, so let's take it back. We always like to kick it off with what was your first money memory?
Yes, my first money memory was with the tooth fairy, it was a tooth fairy experience. I just remember getting four quarters in this little like heart shaped box. And it was a velvet red box with like a silver design on the top of it. And I would just find, every time I lost the tooth, I would have like either four quarters, or like $1 or two. So that was my first money memory. And it's kind of funny, because I remember actually like pushing one of my teeth out for money. Luckily, I didn't have to have braces, which is very ironic. But I felt that was always just kind of like a comical thing to add.
For sure. You started to like that money stuff. This is nice. Okay, this episode is meant to really dig into our mindset around finances, because we all have different experiences, different situations. You know, I'm constantly a broken record saying personal finance is just that personal. And so everyone comes to Factora with different money, stories, different money, feelings, and definitely different mindsets. So talk to me a little bit about what your mindset was like, before you started Factora.
Yeah, it's really interesting, because this whole talk big is about money mindset. But to be completely honest with you, like, I don't even know if I really ever had a true relationship with money before. I think, if anything, I had a true relationship with debt. And that is, you know, something that I just a personal interest of mine is I know that emotions and traumas and whatnot can be passed down Jr logically. And I also believe that like money, or even debt, mindsets can be passed down to and this is not to shame, you know, my parents or my grandparents. It's just that I personally only saw money, or heard about it when it was being thought about and that usually lead to divorce. So anytime it was around money, it was acquainted with this thing, this object D nature's relationships. And then whenever it came down to having nice things or nice experiences, it was going into debt for them. I had no idea what money was. And I when I was writing my money letter, in the six figure savings course some of my money experiences really cut off my relationship to my own mother. There was an instance with like credit cards being opened under my name. And it was just really traumatic for me to take on this debt burden that really wasn't my own. And not only that, I went into so much student loan debt, not even understanding what that was doing. And I take full ownership at that time because I was 18 years old, I had every opportunity to ask have questions or get inspired, but I didn't, I was more distracted with, you know, socializing and being on my own and this really amazing city of Austin, Texas. And so I didn't really care how my education was being paid for it was just go to this financial aid office, do a signature, and then don't ask another question. Don't blink another eye. And so I was more accustomed to just signing off for this debt, and this debt and the stet, not really understanding, sort of the weight that it can hold on you. And so when I finally took that leap of getting independent, financially independent from my mother, it was coupled with a lot of emotions, some anger, some frustration. And it's very interesting, because now one of my money values is trust, because I don't want to use this experience that had some negative, painful emotions tied to it to ever keep me from trusting or engaging or interacting with humans. Again,
when I dig in, because there's so much I want to say there, well, first of all, we share in the experience of our mothers opening up credit cards in our name, and it is a very, I think dramatic is probably the best word to use. Because you don't really understand the debt when it is passed over to you. You didn't sign up for it yourself. So you kind of get sprung into it. And it's a deep, sharp, bad awakening into your financial life. So I had that similar experience. And you were so kind when you talked about student loan debt, just you know that you were 18. And you could have asked questions, but you didn't. But I do just want to say I really think the system is built so that people don't ask questions. It's like, yeah, just sign this just sign off, you know, why are there no classes in middle school or high school talking about your financial life? Why doesn't anyone understand APR and credit cards and student loans before they get them. And yet, our whole American economy is very much focused on utilizing debt to leverage assets even so there is good debt. But in general, the instrument we're not taught how to use them at all before we're utilizing it. So I think that student loans are actually one of the most predatory things happening in the US. And I think that it's really, it's a wedge that sets apart youth from getting to start their careers without a debt burden on their shoulders, and youth that are starting their careers with a huge debt burden on their shoulders, way less of us have parents that open up credit cards in our names, but many, many, many of us either have families that can afford their schooling or don't. And so it's really easy for those families to say, if you want to go to school, get student loans. And then if you're getting student loans, go to the best school take out as much as you need, no one really understands the value of $1. And truly the value of that future dollar that you're gonna have to pay back at a much higher cost. So this is not an episode about student loans. But I could go on a rant about it, because I think that it is so unfortunate that there is not education, I think you should have to sit through and a class educating you on the loan debt that you're taking on before you sign off, because I've also been in a student aid office, where I almost signed $50,000 To take a program in New York. And something took me out of that office. There wasn't anything that happened. The I wanted to go to it was Parsons School of Design, right? Everyone sees it on Project Runway, I was like, I'm doing this, and I got in, and all I have to do is sign my name right here. You know, like, it was too easy. There was something that luckily made me walk out of that office and say, I'm gonna think about it, and I didn't end up doing it. But okay, so I love that you kind of stopped me and said before I had a relationship with money, I really had a relationship with debt. Yes. That's so interesting. So then talk to me about what transferred from from the debt relationship to the money relationship?
Yes. So I've always just been someone who's a little bit rebellious, and I wanted to share this I when I found out that I was like, I have financial aid. I was like, Well, you know what, I'm gonna go study abroad and like use that financial aid to like, propel these experiences. So I ended up living in Spain for four months and then stayed after to travel. So then I got again, this is and this all comes down to my money values because now the travel and the culture and that hunger that taste of the world is Now, what gave me my money value of diversity. And I want to tie these back, because this is what I'm learning or what I learned through Factora. So you'll hear my values kind of creep up in the experiences. So then I got the travel bug, and I went to for six weeks to Thailand with my best friend, that was the first time that ever really created a budget, because I'm like, six weeks in a foreign country, like, you need to know how much you're gonna have to spend for that length of time with no income. And so when I was there, I had this thought, of just never returning, just not coming back. So the mindset was to run away. And I do that, in my personal relationships, when things get a little bit too much. And they're, and I'm going to use the word relationship, because our relationship with money to me really does mirror our relationships within the world. And so in that moment, to protect myself, I was going to run away, I had the complete thought of just staying in this beautiful Thai Island, where there's so much community and so much wealth and abundance and richness and so many other forms. I just wanted to stay there. But I didn't. So I came back. And I think through fac Torah, the aha moment was realizing like, I am the one in charge of my life, I am empower and it was through the little small exercises of identifying what my values are what is really important to me, because so many times I think, why people get scared to start their financial journey is there's so much information out there. And there's so many financial advisors, and CPAs, and all these people who have all this wealth and abundance of knowledge that you might not understand. So you're so fearful of starting because you might make the wrong move. And I say, you know, eff that, because there's so many lessons in the mistakes that you might not have gotten had you been successful from the beginning. And so for me, really getting clear on what my money values are, because I never really resonated with this, like grind, hustle, like, don't have a life in your 20s so that you can retire at 40. Like that never sounded good to me. I'm like I I want to enjoy and live my life, while also bringing in not abundance, that that narrative doesn't resonate with me. So I that's why I love the values piece. Because it's like, it allowed me to truly see that like, you know, that personal finance journey is so unique and personal to you. And you get to own that no one can take your values away from you. That is something that you create. And then when we did the journal for intentional wealth building, not my favorite thing. And the way that y'all set it up was so like, put on some nice music know that this is going to be an experience where you get to be intimate with yourself and no outside influence can infiltrate this moment. And so it was the first time and it's for intentional wealth building. And I started it with a quote. And I don't even remember how the quote came about. But it was wealth is the ability to fully experience life. That was the quote that I started that journal prompts with. And it was like it's in 10 years, you know, and you're feeling and I had never been given the opportunity or the space to fully imagine what that life could have been what that life No, even listen to the language right there could have been as a part of me, that still doesn't even feel that I can have it. And this is my journey. It's a constant work. That's another reminder, I want to let all the listeners know that just because you have the awareness does not mean that each and every single day there is not work that needs to be put in. And so let's reframe that, fully visualizing that life, started this cascade effect, that I'm like, Okay, well, I need to do this to get to this, I want to do that to get to that, and I need to get this out of here. And then you know, all these. What I really loved is that Factora teaches you about so many different ways that you can invest. Specifically we talked about, you know, paper real estate and then business investing. Well, I was like, wow, I am like thriving about how how I am really getting clear to myself and after the fact where I just kept investing in myself. I invested $4,500 into becoming NLP certified which is neuro linguistic programming, which you'll probably hear come up in the episode I like to catch myself a lot because those words are so powerful and the subconscious thoughts that come about. So you know, I got four certifications in neuro linguistic programming.
I also want to Say to it, I love hearing you describe in such detail the journaling for intentional wealth building. Because I think that I mean, it's definitely partially your personality, I think you are an extremely empathetic feeling individual, you feel so intensely and I feel even when I'm around you, I think a lot of women that take a well circle are very type A, they don't even feel like they have time to feel. They're just boom, bam, next thing. And I think that that joint, we always try and pair in our assignments, like a spreadsheet. And then something that's like a little bit more open ended, right? And I think a lot of people actually don't like the open ended stuff, it's very difficult. Because to your point, we don't take the space and time to say, what do we want our lives to look like in 10 years, let's light a candle. Let's listen to some music. Let's maybe do it in the bathtub, let's like really dedicate time and ourselves to digging deep into our desires. We don't live like that most of us are just running from one. I mean, at this point zoom call to the next we're just not pausing to think about what our lives could be if we pointed them in that direction. But you have to think about where you want to end up to start making those changes. So I know you've made a ton of changes. Do you want to talk us through besides obviously investing in yourself that $4,500? What other personal and financial changes have you made since your Factora Wealth Circle?
Yes. So even before I actually took the wealth circle, I think it was in the six figure saving squares that whole I think there was a piece about automation, like that right there Game Changer I like I was actually the HR rep of my company at the time and was like, I am going to set aside this amount to go into open up a high yield savings account, shout out ally, I love the little buckets for me, I'm also. So I'm very visual. And I'm very kinesthetic, which is something you just said I'm a feeler but also I love to see things. So like the buckets for me, were amazing, because I got to see those buckets growing when I was putting in that money, aka energy into those buckets. So opened up a high yield savings account, I doubled my investment rate from you know, 14% to 28%. And I just want to like, clarify that I work for a startup company with not a super high salary. But I I took that NLP course. And we got really clear on like, how to design your future. And so I was like, Okay, I want to call in a side hustle that I can still make some money and work towards my goals, but isn't going to take me away and distract me from my mission through my startup company that I'm so passionate about. So I ended up getting a side hustle job for a as a bartender for a wedding venue. So I've been in hospitality since I was 16. So like, serving people and making some drinks I can do in my sleep. And that doesn't take a lot of energy from me, what I love about this is I get to create my schedule. And it's one day a week that I have to do it. And you know, they're grateful that I get to help out that one day. And just with that little switch I gave myself I think it was like a 37% Raise. I'm you know, I took my salary from right under 40k. To now I think I'm at like $54,000 and just with that one little switch, because I got clear on Okay, these are my values. This is what is important to me. What do I have the freedom or the energy to put into what how much time do I have to give? And not only that, what can I find to maximize that dollar amount to really make an impact. And then from there, like, you know, on all of my paychecks I have not set it's not set up to my bank account. It's set up for direct deposit to my high yield savings account. I do not see that money in my checking account at all. Because I do not want to tempt myself to use it like that side hustle is for my growth, because that's what I want.
I love it. Well, first of all, as feely or kinesthetic as you are, you're also getting really good at talking about the numbers. So with your startup salary, you were at 40,000 ish and then with your side hustle that you got really intentional about selecting you added another 14,000 That's a great side hustle. And so you're taking all that money and putting it into your high yield savings account, what are your goals with your high yield savings account, I believe you have some really interesting real estate goals that I'd love to dig into
the first goal, like, like you just said, is to buy my first investment property. So you know, another beautiful thing that SEC Torah teaches you about is this power of community. And so I, you know, as I was taking the wealth circle, I have actually made a newer friend in my life, we're coming up on our one year friend aversary. And it was so ironic, because one of our first conversations that we had was like, I was opening up about how I want real estate, because ladies, once you start, like talking about money, you won't want to stop it. Because it's like, this is so exciting, and so empowering. And so I was just, you know, talking about money, and like how I want to really have real estate. And then my friend Blair was, she was, you know, we had just met, and we were just talking about, she's like, Oh, I actually already have one. And I was like, wow, she has an investment property, like that is so great. And I was like, I really liked her. And then as we developed our friendship, I continue to talk more and more. And she's like, you know, naevia, like, I'm actually wanting to do, I'm interested in wanting to do another investment property. And I was like, Oh, great. Like, let's, let's do this. And so every single time we see one another, we just kind of like check back in on it. And I actually got her a roll at my little side hustle job at the wedding venue, too. So that we can really like I was like, Are you serious about this, because I really am, she's like me, too. So now she works one day a week at this place, so that we can just really like build up for this goal. And so the finesse of this entire situation. So her parents own a property management company, her father's in the medical field, and her mom is a real estate agent, they have over 40 plus properties. And so what they like to do is they buy houses, and they flip them. And before they just start making more passive income for themselves, they always offer their children the opportunity to buy it from them, which love that exercise for as a parent, you know. And so Blair just came to me a couple months ago saying her parents had a property that's available, or it's about, it's coming up, they're finishing the finishing touches on the renovation. And this is in a market of, of a town called Coffeyville, Kansas. And you can buy a home there for like $25,000. And I know some people are hearing that number and be like, what that is not real. But it's true. And so we just kind of did some very loose math. And we're like, if we can say about 10 grand each, that's 20,000 down and then we'll just like cash flow the property back into itself. So it's fully paid off, and then start cash flowing it, you know, to us, and it won't be a ton of money. It's gonna be like, I think when we were doing the very rough estimates, it's like four to $500 each. But for me, like, and I think anyone here who is on their financial journey of like, that opportunity to start generating passive income because I intentionally designed my life and saved accordingly is going to feel so damn good. Like so great.
Oh, for sure. Oh, for sure. There's nothing that beats experiencing your first taste of passive income. I mean, you say four to 500. Like it's not a lot. But if you think about it, if your side hustle is a little over $1,000 a month, this is half of that without you having to physically give your time to anyone. You don't have to show up anywhere. Even if you are good at and enjoy mixing drinks, you don't have to have anything happening other than having made a plan for saved for and invested in that asset. And obviously you have to maintain it, maintain it a house is a big responsibility. And there are definitely considerations when it's out of town. But I love how creatively you're thinking because we are both in Austin. And this is a very intense real estate market. So the current house I'm talking to you from I bought it for 385 and 2019. And it's already appraised for $600,000. I mean, it's crazy. We did add a backhaul. So I don't want to say it just you know magically gained 200,000 But it is still a really insane market. And so a lot of people are very good at making excuses. And they'll say things like well, the area I live in is high cost. So real estate investing is not an option for me. But disagree. Look at what you did you met a friend. She already is plugged into a family who focuses on this. They have an operation that's up and running. They happen to offer their children these pieces of property before they sell them and you are now friends with one of the children who you guys can go in on it together. This is the whole point about getting knowledgeable, getting empowered, and having so many more conversations about money, because there are so many opportunities out there, but they can't be uncovered if you're not trying to uncover them.
Absolutely. And you're exactly right. It's like I looked to the Austin market first. Like, of course, I was like, Well, I want to be a first time homebuyer and I want to like get all the downpayment assistant programs like I did the journey of looking at the Austin market. And just like, in order for me to do that, I would have had to do a trade off value of like, a job switch of some sort, or, you know, maybe that's not even fully true. But like, I just I really enjoy where I'm at. And I was like, Okay, let's just from a professional sense, I was like, well, let's just like you said, Let's be vulnerable, let's just keep talking about this. And the more that you put your energy towards something, I think it's like, where, where your attention goes, energy flows. And so I was also like, I was like, Oh, I have family in Puerto Rico, my uncle already has a condo there that he now like short term rentals, and my grandmother's one who property manages it, I was even going to do that. And I still might do that with this money that I am going to be passively income, trying to make that over passive income generating from this next property. And you know what this entire conversation could also not happen, you know, there could be something that some change in the course of the events that might not make this happen. But I'm still so dedicated to seeing this through that I'm going to adapt and evolve. And I'm going to make sure that I even if I set the goal, and it doesn't take the exact trajectory that I hoped for, I trust that the experiences that I'm given right now is what is building this momentum for me to have everything that I want in life and believing that I am worthy of that.
And this goes back to the mindset piece, right? I actually love that you're talking about if and when you need to pivot or should this exact situation with your friend not work out, because I think too many people almost get embarrassed if a goal doesn't happen. And so they don't want to share that out loud. I mean, you know very well, the fact to our community is all about people, sharing their ideas, explaining their pivots, talking about their setbacks, because your goal is still your goal, you have smelled the future of passive income, you are going to get it some way or another, you are focused on doing that through real estate, but there are so many creative ways to do it. You just talked about a number of them. So I have no doubt that will happen in its right shape and form. But I actually liked that you're talking about if it doesn't happen perfectly to plan that that in and of itself is okay. Because you're still going to keep your focus and desires going until something materializes.
Absolutely. And I've identified what my values are, and I'm living in alignment, you know, when we are doing these visualizations of what's going to happen in the future. Yeah, of course, it's like future term thinking, we're visualizing it. But the mindset, the million dollar mindset gets to be cultivated in the now. So my net worth might be in the negatives, but my mindset is constantly growing and in the positives every single day. Now, that's not to say that I don't experience my lows. But I have the design for whenever I do fall off track, I can get back on it. And I created that. And so that's why I want to be very, very explicit that it is always beautiful to receive outside influence, but use your discernment to feel what aligns to you and what doesn't. And that's one of the things that I love about Factora and Miss facilitating opportunity is you aren't telling us to like give these women advice. You're saying share your story, and allow that woman to practice her discernment muscle of does this resonate or does it not? And it's okay if it doesn't, and if it does, now you have the community where you can go deeper and explore more
this okay, you bring up two great points, one that you're cultivating your million dollar mindset. Now, we're going to have to circle right back to that shortly. But to that Factora is all about women. I think discerning is is really a great word. What's right for them. There is no right way to build wealth. There are a But jillion different paths you can take. Obviously, there are some important steps along the way, right? We want to be cognizant about high interest debt. Because if we're stuck obligated paying over here, it's harder to pay ourselves over here, right, it's harder to acquire assets, we definitely want to have an emergency fund at the ready, because shits gonna happen, that's just the nature of life. And we definitely want to get intentional about our goals so that we can build steps to them. But outside of those building blocks, which are the bottom three pieces of the Factora financial foundation, like our pyramid that we show, when it comes to investing for mid and long term goals, there is no end in sight for how many ways that can be done. So it has to work for you. And I do think that it's very natural tendency, both of Americans and definitely as women to say, I don't want to mess up. So please give me a good recipe, and I'll follow it. But you just can't do that. Because no one else has a friend named Blair with parents in Coffeyville, Kansas, Kentucky, that are flipping houses and offering it to their children. And they're making four to 500 A month after their long term rental, I mean, that in and of itself is such a niche, perfect example of of how there is so much that can happen. Okay, so flexing that that muscle of discerning what's right for you, what's not is definitely a big component of Factora. Because we are legally not allowed to give financial advice. And when I say financial advice, yes, we're giving you we're teaching you about investing, but we're not saying take 10,000 of your money and put it here, we would never say that. We want to disrupt financial advising because it's my belief that a financial advisor, who works for a financial institution who's obviously going to push a financial institution that they worked for products actually can't have your best interests in mind, because they can only sell you those particular investments, they can't look at the rest, you have to do that. And so what we want more than anything is to give women the confidence that they can make these discernments and decisions for themselves based on the life that they want to live. And every listener, it is so possible for you because listen to Nevia She's doing it and she's doing it in such an impressive way.
There's one thing I want to add to that kind of you are going back when you were touching on the basics of in our in the sector a pyramid I think it's the it's the is it the emergency fund first. And
well it's at the bottom it's have a plan for high interest debt, and you have values based spending above that it's have your emergency fund, and then above that it's saving for near term
goals. Beautiful. So going back to that high interest debt I want to be I want to use this platform as an opportunity to really reach hopefully, some women from the audience that might really be struggling with this, like I struggled with this not only like my own high interest debt, but also that that I took on from my mother's when she was using these credit cards. And so do not shame yourself if you are in a pattern of using these credit cards, because it is it is really hard to get out of it. But I want to challenge you to look at why you're spending what you're spending, what you're choosing to use this high interest debt on and ask yourself Is there something back in your childhood that is not being met here, because when we are able to understand our patterns in spending, I think that will help us not shame and guilt ourselves and shame and guilt are some of the most powerful emotions that I think are attached to our relationship with money. So if you have high interest debt right now, beautiful now you see it as an opportunity to go within and understand yourself even deeper which is going to lead you to your values right once you understand those values. Now you are making these decisions that are in alignment with your highest self and now we can work with to work towards that emergency fund and I want to share that the emergency fund factor before there was a woman who she's effect to our graduate Her name is slipping my mind right now but she was saying like her emergency fund was like kind of there but you know, she would still pull from it on like buying some shoes every now and then like it really wasn't there. So when I got really clear on like this emergency fund is like not going to be touched anymore. I set that boundary with myself. I had, I think like a $500 car investment that I needed to do and it didn't pay me I was able to swipe that card and feel good about the transaction and grateful because I had that emergency fund dedicated towards those outer, you know, external situations that you can't predict. And that $500 Did no longer felt like it was pulling from me, or pulling from my existence or my energy or causing negative emotion, I confidently swiped this and said, Thank you, thank you that I have this cushion so that I can drive safely on this road for not only myself, but for that of others. And I think it comes back to that, that gratitude piece, you know, gratitude is the foundation of abundance. And when you're able to use your money with gratitude and not not feeling like Oh, anytime I spend something, it's going to hurt me. And this is, this isn't my experience. So this may or may not resonate with everyone. But cultivating that mindset around gratitude towards my financial exchanges, I feel like is what has allowed me to call in these very personal and invigorating experiences that are going to contribute towards my wealth building.
I love that I think I think you're absolutely right from my my work doing this with so many women now, for a good number of years we're going on, I hear shame and guilt come through all the time, especially with women who might have debt or just might not know where their money's going, they feel like, Hey, I make a lot of money, but I also spend a lot of money, what the heck. And it's like, I want you to spend on whatever you want, as long as you have that safety cushion, and that confidence that you are not spending now as a detriment to your future. And you can do that just by getting really clear on where you are, right? So we always have to determine the numbers. And we have so many women in Factora who are just across the board, like from super negative networks to start to super high positive net worth, that does not matter. Like it literally doesn't matter. Because you know, I always give that example of someone can be making $60,000 and saving 5% of it. And they are more wealthy than someone who's making $360,000 and saving 0% of it, right. So it really is more. So let's figure out where we are, let's make sure that we have those bases covered to your point, like making a plan for the debt, getting those values clarified. So that because, you know, in fact, our we hate the word diet like it, I mean, it has the word die in it, you know, like it's, it's just like budget, budget and diet are the same word to me. It's constricting, it's restrictive. I don't like it values based spending, I love spend on things that you value, cut out the things that you don't. And then obviously having goals and putting a plan to them and utilizing those automations like you talked about where your side hustle money just skips your bank account entirely, it goes right into the high yield savings account for the future real estate investment that you know you want to make in the near term. So when you have all of this setup, that level of comfort of when you I think your example was a $500 car expense, like there's no more guilt or frustration or like Why did this have to happen right now I was just starting to get into a good place. And now this money is being taken from me. It's like no, no, this money was ready for this. Like it was meant it didn't know it was gonna be a car thing. But here we go. And it's no big deal. And then it just all compounds on itself. And the effect is so good. But I want to talk a little bit more about how you have been cultivating that millionaire mindset in the now I think listeners should definitely hear what do you put into practice? And how do you stop yourself when you're not being that millionaire mindset?
Yes, so I was very grateful enough. I think I told you I went through that Neuro Linguistic Programming certification. And one of the exercises that we do is it's called timeline therapy. And what you do is you kind of go to the root of the first time you experience a negative emotion. And from there you put yourself in it and you kind of float above. And you ask yourself, what are the lessons to be learned from that moment so that you can kind of clear out any of the negative emotions that are attached to it and move forward. That was a very broad overview of that, by the way. And so what I've done is I've done a lot Have that work by identifying some of those really key experiences back in my past and working through them so that I can move forward. And now, when it comes to my money mindset, this is where I am so grateful, for Factora, because of that community. And I think that that's something that I'm a very hyper independent person. And I think it's really easy to try to just like go and do things on your own. And then when the lows come, you want to experience them on your own, too. And it's like, no, no, no, no, I think the first step is really having a community of people around you, where you can speak about your financial goals, who are going to hold you accountable. And who are also going to challenge you or, you know, give you a different perspective to see to expand your, your mindset of how you're going to do something. So through my own inner work with just understanding what is my money story, what are the some of the negative emotions that are attached to for me, it was a big feeling of unworthiness, I never thought that I was worthy of having the money that I desired. So I did a lot of work around reframing the narrative that I am unworthy of this financial wealth and abundance. So that was what that was my inner work, right. And so then the next thing that I did was okay, I need to cultivate a community that is going to really hold me accountable and continuously support this journey. And so that's where Factora came in. And, you know, what I loved through Factora was, then it held this space for me to get clear on the values. And that's when I was like, once you got it, it's it once you've got the clarity, you can't go back, because your your world has been opened and illuminated. And of course, as humans, you know, we might fall back into different path, little patterns. Again, don't shame yourself, if you make mistakes, this is just another invitation for you to get curious with yourself, understand what's going on what's really sitting behind that decision. And nine times out of 10, it's usually something attached to your past, and then you work through it get clear, and then keep going. And then it's gonna happen again, and you keep going. And that's when the community it's like they're all tied together. It's the inner work coupled with the external environment. And it's very important that you have the environment that supports this growth. Because if you have people in your life that aren't supporting that you will fall back you'll you'll, you'll be more pressured and more tempted. And that sometimes growth is making difficult decisions to cut things out of your life, that are not serving you anymore. And I think that might be the hardest part when it comes to mindset is recognizing that the world around you that you've been living is not really where where you want to be. And you have to make very difficult decisions for yourself. But you also have to trust that that's what needs to be done in order for you to create the most fulfilling life that you can.
I'm thinking so many things right now. One being, and this is so easy of a little statement to remember, so much harder to enact but garbage in, garbage out, whether it's food into your body, whether it's thoughts into your mind. And to your point, whether it's the wrong kind of people around you, I know that it can be very difficult to find a community of people who talk openly, honestly, empowering Lee, I don't know if you can say apparently, about money, but it's really important to cultivate that. So that's obviously the special sauce of Factora. Anyone could do a course on money. I think we do it best, but we wrap it in the community and the community is by far our biggest differentiator because there's an expectation in this community, that you are meeting each other where you're at, we're all at different levels, and there has to be that compassion and innate support there. And I think when you have that around you and you see other women doing it, then you want to do it too. So if you don't have that community, obviously we'd love to welcome you into Factora. But I think that's a really that's a really good point. I got I think when I was asking you how do you practice your mindset that it's not just internal work? Yes, definitely getting the right circumstances externally.
And, and I think the biggest thing when it comes to having a true I'm gonna say my million dollar mindset is the company One Piece, because we get so wrapped up in like growth. And yes, like, keep going, keep going. And I just don't think it's talked about enough that you will, sometimes there are lows, and it's okay to be in that, feel it, find the lesson and find yours, come back to source, come back into alignment with who you are, and keep going. Because, like I said before, there are lessons within the mistakes that you just cannot find in the successes. And I fully believe in that. And so I just any woman that's listening today that might be caught in a pattern or a cycle, you are the creator of your life, and you have everything within you to break that. And Factora is a group of women who are here to welcome you With arms wide open, and not hold shame or judgment. I think this when I was in the first breakout room talking about my net worth, I was crawling out of my skin. But you know, you say it once and then you're like, oh, okay, like that this is this is I am I am not defined by this number, you know, your self worth is not in this net worth and your self worth is not in the past decisions that either you or someone else made for your financial journey. Like you get to be the creator of your life. And I think that's what I really want the take home message. For anyone who's listening to this, it does not matter where you are starting, like an Factora specifically has so many opportunities for you to gain entrance into this community, through the rising tide scholarship like that, like Factora is really giving back in a way that can that lowers that barrier to entry. And you can be here if you want to be here you will be. And through that I now and no longer running away from my finances, I look at that negative net worth, and I look at my student debt. And I'm like, thank you. Because now I get this opportunity to come onto this platform and share my story and be even more inspired and empowered by it. And it's that concept of turning your mess into your message. But you have to believe in yourself that you have everything already inside you to make these transformations. In Factora will only be there to hold the space for you all of this work. I did. But Factora created the space for the mindset and the ideas and the values and the visions to be made manifesting. And that is something that's beautiful.
Okay, listeners, can you see why we have her as facilitator, I mean, she is, she is so passionate, I feel like I just went to church, I want to snap at all of the things. I think something I want to point out in your story relative to our conversation today is when you talked about if there are people listening, who don't just have debt, but have a cycle that they feel like they're stuck in where they might be digging themselves more into debt, you are such a great example of maybe your mom and your family dealt with debt, and you're dealing with it now. But you know, and I think every listener on this call would agree, you're cutting that cycle once and for all, by being very awake to it very open about it and very forward focused on changing and that is the power of digging into your finances and making changes like there are no mistakes to your point. It's just learning. One of the things we really really push and Factora is like, because, you know, when we get into the stock market lessons, everyone's like, well, which brokerage account? Should I open? Like, I don't want to make the wrong one? Or should I do DIY? Or should I hire an advisor? Should I get a robo or like, you know, we're just kind of like, just try it? Yeah, you can always pivot literally opening up the account and making selections and even if it's $15, you know, like, it doesn't matter. What matters is that when you do it, you learn and so anyone who's listening that has fear around their finances, I hope that this episode on mindset, and naevia is just beautifully abundant personality and spirit has really come across in in showing you that it doesn't matter where you start, it just matters that you start. So with that, I want to thank you so much for coming on to the podcast so much for being a part of this community and for sharing that you are a rising tide scholar. I mean, we don't ask anyone to share that publicly. But I think it means a lot when women are, you know, honest about their past because then a There are women who resonate with them can take similar ones.
Absolutely. And you know, you were as you're saying, breaking the cycle, that's how healing occurs. So through me breaking this cycle, I'm healing not only my family's, you know, generational and or financial trauma, but also creating the legacy for my future generations to follow. And I just want everyone out there to know that they are worthy of living their most fulfilling life.
You heard it here first listeners, you are worthy. Thank you for coming on the pod Nevia thank
you so much for having me Allegra.
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