I’m busting out extra Cuban coffee to chat with my Colombian friend, Jen Hemphill, a proud Latina who is a fantastic feminist who is here to serve and help people manage their money better.
Her tagline, “Dinero done with confidence,” speaks volumes about what Jen does. Her focus is on assisting others in getting the clarity they need to get their money under control. So listen in and discover why Jen is such a bad-ass in the financial space – and definitely check out her podcast Her Dinero Matters because you’re in for a real treat!
Getting Accredited as a Financial Counselor
In 2008, Jen’s husband invited her to become an accredited financial counselor with AFC PE through the FINRA Foundation, the military spouse fellowship program.
This accreditation caught Jen’s attention because, as a military spouse, she was looking for a remote career that would allow her to raise her two small children at the time.
Evolving with Your Brand
Even though Jen had stumbled through when she started her business, she has learned to evolve with her brand like many other businesses.
“Having the vision of the career and wanting to be at home with the kids and really build a business online was the way to go.”
Jen recommended that she start with webinars, so she started there but then pivoted along with a way to do what feels right to her for her business. “That has been another stumbling block because I’ve had a variety of coaches, and some of them, I don’t think was for me, but I still learned. There was definitely something that I took away with the coaches that I’ve had.”
The Emotional Connection to Money and Money Mindset
As a financial counselor, Jen quickly realized that she and her clients were connected emotionally to money. However, there weren’t any resources available to speak about this emotional money connection concerning money mindset when she first started coaching. “I’ve been reading books about the emotional part of money. But, they didn’t say anything about the mindset. You could read about those things in personal development books. Still, I didn’t see any financial education tied to that concept.”
This is what sparked her niche focus for her business. “What I realize is how I connect at the mindset level is similar to buying a home. When you go and search for a house, you want to make sure that house is in good working condition, including the foundation.” Comparing the home’s foundation to your money mindset, Jen says that your mindset is your money headquarters.
“The foundation of your financial home is your money headquarters. You’re always going to have issues or a barrier because of your mindset.”
And mindset work is not something that’s once and done. Money mindset is a process that you have to continuously work with. “It’s important for people to understand their upbringing, because that impacts your mindset, which impacts your relationship with money.”
Journaling to Reflect on the Foundation of Your Money Mindset
She recommends returning to your childhood and thinking about the memories and instances that come to mind regarding how you were impacted by money. How did money make you feel? What comes up when you write these down? What money connections – either good or bad – surface when you put your feelings about money down in writing?
“Because if we don’t understand our past money stories and how they impacted us, we don’t know if we’re cycling those same habits, actions, and same thoughts, unless we have that awareness.”
Allow yourself to relax, Jen recommends, because we carry so much money mindset baggage and that it bogs up our brain. “And how can we think clearly and make good decisions with our money if we have fog in our brain?” Better decisions can clear up your mind, which is why we need to get through our past money challenges to make money work for our future.
Creating Money Content That Resonates with People
Much of the money information is told in financial lingo, not the everyday lingo. Right?
Jen believes that to educate people who aren’t financial professionals, you have to create content in a way that resonates and connects. Your content needs to say that you understand where the other person is coming from, what they struggle with, and who they are in this world.
Cultural Diversity Inside of Money Mindset
“If you look at the diversity in terms of a recent immigrant, such as a DACA recipient, and a person that has second, third generation Latino, the needs are different. Navigating the financial system is different. So approaching an on teaching money is going to be different because you have to address those elements.”
And, inside of being Latino, there are the subset cultures, which adds another layer of complexity to money education. “For example, I’m born in Colombia to a gringo. I was an American citizen by birth. I didn’t immigrate. I had the advantage in this country. My father is an American citizen and he knew how to navigate the financial system.”
When you don’t have parents who have experience navigating the financial system, your clientele needs a different education. “There are so many different layers with Latinos because were so different. We’re complex but lively and amazing!”
Creating Money Education in Two Languages
Jen does a fabulous job of creating her money education in two languages. “The reason I do that is because when I think of Latinas or Latinos, and I think of my friends that are not the United States, I know that not all Latinas or Latinos speak Spanish. They may be Latino, but they don’t speak Spanish, so I wanted to make sure that my podcast is aimed at the US Latina.”
In addition, not all Spanish terms can translate into English well, so she has an extra layer of complexity to ensure that her money education is in context when navigating between English and Spanish languages.
Her Money Matters
Jen’s book, Her Money Matters, teaches how to budget, save more, and get out of debt. These are the basic skills taught in her book. In addition, she teaches you how to budget and save money. But the most critical education in her book is how she teaches you about money mindset.
“The actions are more about confidence in talking about money. In my book, I focus on what isn’t being talked about enough in terms of personal finance. I talk more about how to be more confident, how to really get rid of that money guilt.”
Yes, you need to buy her book listen to her podcast. But, while you’re at it, grab a journal and start writing down your money mindset experience as a child to find where you need to focus and pivot your money mindset starting today!