One of the most powerful but overlooked tips for getting your finances under control is to find a personal finance coach who can help you assess your situation and make a plan to deal with it. Today’s guest is Tonya Rapley, an amazing black woman who has taken personal finance coaching to a whole new level. She’s become one of the go-to resources for many women when it comes to developing a way out of debt and into wealth. You’ll learn a lot from her tips and advice, so be sure you listen to this episode.
Why would you want to hire a personal finance coach?
A personal finance coach is an amazing resource most women entrepreneurs don’t tap into. The right person will be a resource like no other – a professional when it comes to financial tools and strategies, and a third-party who can help you be objective about the things you’re doing with your money. If you’d like to hear one of the best, you need to take the time to hear Tonya Rapley from My Fab Finance, on this episode.
Know that your financial situation does not define you.
There are many situations women find themselves in financially that not only make life tough on a practical level but are also challenging in regard to the way they think about themselves. Financial struggles can cause you to feel like you’re not capable or not enough. But today’s guest – a personal finance expert – says that you ARE enough, no matter your situation. You can’t let the situation define you personally. Find out how Tonya suggests you go about it, in this episode.
Snowball your debt and gain your financial freedom faster.
If you’ve never heard of the concept of a debt snowball, you need to know about this incredible approach to accelerating debt elimination. It’s pretty simple: you start making the largest payment you can on your smallest debt until it is paid off. Once it is, you start rolling that entire payment into your next smallest debt and repeat the process. Over time your payments snowball into a bigger and bigger amount so that you’re able to pay off your debt quickly. Today’s guest walks through the concept in detail so make sure you take the time to listen.
How you know it’s time to step out to build your own business.
When Rosetta asked her guest, Tonya Rapley, what she would suggest to women who are eager to build their own business, she had some very practical advice. Make sure you have paying clients before you step out into your own thing. You’ve got to know that what you’re doing is valued and people are willing to pay for it – before you put all your eggs in that basket. You can hear more great insights like this from Tonya on this episode of Happy Black Woman.
Outline of this great episode
- [0:30] Today’s guest, Tonya Rapley.
- [2:00] Tonya’s mission and how it’s developed into a great resource for others.
- [4:49] How Tonya decided to take the leap and make her business her only income.
- [9:40] The services Tonya offers through her business.
- [12:35] First steps to starting off your debt repayment plan.
- [16:44] Advice for unemployed women regarding debt and finances.
- [23:12] Amazing books Tonya recommends.
- [28:56] The number one piece of advice Tonya has for you.
Resources & Links mentioned in this episode
- Tonya’s free gift: http://myfabfinance.com/hbwpodcast/
- BOOK: The Power of Habit
- BOOK: The Energy of Money
- BOOK: The Wealth Choice
- BOOK: The One Page Financial Plan
- BOOK: Girl, Get Your Money Straight
- BOOK: Profit First
About TONYA RAPLEY
Tonya Rapley is a nationally recognized millennial money expert and founder of the award winning site, My Fab Finance where she helps millennials break the cycle of living paycheck to paycheck so that they can become financially free and do more of what they love. Tonya was deemed the “New Face of Wealth Building” by Black Enterprise magazine and was selected as a Modern History Maker by TV One. Her work has been featured in Glamour, Women’s Day, EBONY, Marie Claire, and on Forbes, Business Insider, and Buzzfeed. She is the host and executive producer of the web-series Fab Finance with Tonya for Centric and is the creator of the #BanishTheBalance challenge, a debt elimination challenge that helped over 4,000 participants pay off more than $210,000 of debt in sixty days.