What does it actually mean to have enough when you didn’t grow up with money? Jannese sits down with Maria Melchor, creator of FirstGenLiving and author of Always Have Enough: How to Build Wealth When You Don’t Come From Money. Maria immigrated from Mexico as a kid, studied human rights at Yale and planned to become a lawyer. Then a pandemic Instagram page changed everything. We talk about defining your “enough,” supporting family without sacrificing your future, the three buckets every first-gen needs for their goals, scarcity mindset and why your safety net is bigger than your bank account.
WE GET INTO:
[01:46] Normalizing the money conversation
[02:45] From Mexico to Connecticut: the original plan
[05:15] Racial profiling and segregation in the Northeast
[07:52] From human rights to personal finance
[08:13] How FirstGenLiving was born
[10:16] The CNBC Millennial Money moment
[12:10] Choosing FirstGenLiving over law school
[14:23] What “always have enough” really means
[17:45] Why you need to define your “enough”
[18:38] Being a good steward of your first paycheck
[21:18] Supporting family without sacrificing your future
[24:56] Your goals, shared goals and other people’s goals
[27:47] Eldest daughters: it’s not your job to parent your parents
[29:35] Siblings and planning for your parents’ future
[30:37] Enjoying what you’ve built without guilt
[31:49] Scarcity mindset: spenders vs. savers
[35:15] Jannese’s shift from accumulator to real estate investor
[36:50] Building safety nets beyond your bank account
[39:19] The power of community and asking for help
[39:00] What Maria hopes readers feel
KEY TAKEAWAYS:
→ Get clear on what “enough” means to you, or you’ll chase more forever
→ If you don’t decide what your money is for, your bills will
→ Put your oxygen mask on first, even when family is everything
→ Sort your goals into three buckets: yours, shared and other people’s
→ Your parents’ retirement is ultimately their goal. You can help without owning it
→ Scarcity mindset shows up as extreme spending OR extreme saving. Same coin, two sides
→ Your safety net includes job benefits, community and government benefits, not just your balance
→ Community is a financial resource. Asking for help is part of the plan
CONNECT WITH MARIA:
Instagram: https://www.instagram.com/firstgenliving/
TikTok: https://www.tiktok.com/@firstgenliving
Website and free book club: firstgenliving.com
Always Have Enough: https://www.firstgenliving.com/book
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This episode of Yo Quiero Dinero was produced by Heart Centered Podcasting.
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