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Are you a high-earning woman of color wondering why you haven't started investing yet?

In this video, I break down the real reasons why you might be hesitating to invest, even with a strong income. From the lack of representation to the weight of first-generation wealth building and the psychology of money, we'll explore the barriers that might be holding you back.

🔑 Key Topics Covered:

-Why representation in finance matters for women of color

-The unique challenges of first-generation wealth builders

-How your money mindset could be impacting your investment decisions

-Actionable steps to start investing with confidence

💡 About This Channel: I'm Jacent Wamala, a financial education enthusiast and Licensed Marriage and Family Therapist with over a decade of experience. My mission is to empower women of color to be empowered in their financial future and build lasting wealth. Whether you're new to investing or looking to level up your financial game, you're in the right place.

👉 Subscribe for more insights on wealth building, money mindset and management, and financial empowerment.

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In 2022 I learned there was a different way to live, I didn't have to live paycheck to paycheck or work for the rest of my life like everyone in my family. The first step was to get out of debt so I could save and invest , so excitedly I started reading more and listening to many podcasts about finances.   I was like I can do this until I realized I was 250k in debt for student loans, around 10k for consumer debt and owed the IRS a whopping 44k due to an error on my part from many years ago.  I immediately got discouraged because it would take me forever to pay all of that off, while being the breadwinner in the house and supporting a family.  Despite all that I made a plan anyway, I already worked in a field for the public service loan forgiveness (PSLF) program and calculated that I had 6 more years of payments left so that would help with the 200k in government back student loans and I had 50k in private loans.  Unfortunately, my plan did not match my income so I picked up a second job to make the process go faster, now I was working all the time and really feeling discouraged.  I had come across this podcast Wealth and Wellness University and was starting to think I can do this then I joined your program.  That really helped change my mindset and helped me really focus on why I was doing these things and making the sacrifices so I could live a better life.

In that time the PSLF program had a  temporary change that allowed back payments prior to reconsolidation count and my 6 year plan was down to 1 year and just like that 200k gone, I paid off my consumer debt with my second job while paying down my IRS debt.  Then an opportunity came for us to move out of the state so I sold my house and wouldn't you know it was enough to cover my IRS debt that I had been paying on for the past 2 years and grew my emergency fund to 4 months of living expense.  As my life would continue to go in this upward direction my part time job turned into a full time job.  Now I know this seems like a lot to have two full time jobs, but it is only temporary.  I maxed out my 403b for the first time ever in life, I invested in real estate syndications and the stock market.  For me I felt that my marriage was financially and spiritually draining especially with someone who is not on the same page financially.  Once we separated and I didn't have the financial or emotional strain I was able to manage my expenses better and budget for everything which allowed my credit score to skyrocket over 800 points.

I am far from perfect with my finances, but this past year has taught me a lot about money, mindset and my health.  I still have my private loans to finish paying, but I took a break and gave myself grace to travel and do other things that I loved since I basically deprived myself for a year.   I feel like more doors are opening for me as I stay focused and intentional on my goals, I  always wanted to be a CIO and I was offered the opportunity to join a mentoring program and they really encouraged my growth and development.  

I know people will be like you still have debt and you are doing other things, but I feel a financial plan is your plan and I like a balanced approach since my private student loan payment is low interest and I have a 1 year (aggressive) and a 2 year (non-aggressive aka live my life with a toddler) plan.

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