Alexandra RamÃrez is the CEO of Moneywise Business Group, one of the most recognized financial and business advisors in the United States and Latin America. This Colombian born in Cali arrived in the US 27 years ago and never stopped. Among her highlights is being the author of the best-selling book "Conquista tu Riqueza Financiera en 21 DÃas" (Conquer Your Financial Wealth in 21 Days), recognized by Yahoo Finance as one of the "Top Entrepreneurs of 2020" and named among the most influential Latinas in the nation on Capitol Hill in Washington.
RamÃrez has long been serious about empowering Latinas financially. To achieve that, she created the "Financially Fit Latina Movement" and is about to hold her third financial congress for women in the United States called "Expofinanzas Mujer" 2023 with the aim of financially empowering Latinas and promoting the spirit business.
In dialogue with LPO, RamÃrez recounted her beginnings as a tax collection agent in the state of Florida, where she saw how many small Latin businesses disappeared due to lack of knowledge of how to manage the finances. She created a blog and began giving tips on how to manage accounts (she studied finance) both at home and when starting some kind of business. Always with a gender perspective, she noted that Latin women "are very focused on beauty, on looking good, but we were not financially educated and that is a disadvantage," she warns.
What were the beginnings like when you arrived in the United States?
I have been here for 27 years. I was born in Colombia but my heart is in the US. But all this comes from my own experience: I was immigrant, I started from scratch here, I didn't speak English and I didn't have money in my pocket. I had a suitcase full of dreams. And although the US is a wonderful country, it has a very high consumerism. The system is design for you to buy and spend. And I came with many shortfalls, I had no father, growing up with that need, not only economic but also emotional, made me want to come to the US and start from scratch. I always dreamed of being a professional woman, and so through many sacrifices, I educated myself and graduated in finance. Then I worked with the government: I worked for the State of Florida Department of Revenue as a auditor. There I realized the need for financial education in the Latino community.
What did you notice there?
There I saw the need in business, the lack of knowledge. They are not educated to open a business in the United States, and this is a country of laws, and if you not do it well, you can be in trouble. So I thought I had to do something for the community and that's where the whole story really began. I really started out of pure passion, of wanting to financially educate the community. I didn't start like it was a business. I wanted to share all the information and I started to create a financial blog and this blog started to grow and that's really where it all began. Many people wrote to me and thanked me for the advice. Then I began to be well-known and this life purpose began to grow.
When was that click, the moment when you decided to focus on Latinas?
At the same time that I was realizing that businesses had this need to be financially trained, I also saw the need in women and then "Financially Fit Latina" began. I want women not only to worry about their body, their physical beauty, but also about their financial beauty. I also want them to be independent. I grew up with many shortfalls and needs, so that was what I didn't want other women to experience.
Do you think it evolved? That now women are no longer as aware of these things as before and that they now pay a lot of attention to their professional and economic development?
Sure there has been an evolution. Today, women are more concerned about growing, progressing, succeeding... However, women also care about their personal success. In other words, sometimes because we are mothers or because we are women, we are very touched by our families. When a woman gets divorce, at least like I had after 20 years - and realize that thank God I was always a thrifty, organized woman who had my own job, it can change. Most women are financially dependent on a man and then the moment a divorce or something else happens, they realize they weren't prepared. And it happens 80-90% of the time for Hispanic women. So although there has been an evolution, there is still a great need for women to take control of their money, their finances and their lives.
Women are more receptive to hearing about investments. How do you get to them?
Nowadays, women are more open, they want to go out, they want to grow... We women actually by nature tend to be protective, to be the creators in the house by cooking for the children, so we always want to do more for our families. I have seen a lot of desire in women, they want to learn, we receive many private messages on our social networks. In fact, that is why our events are for women, I would say mostly 90% are women who are suddenly more willing than men to receive help to manage their finances.
So that gender disadvantage still exists...
Exactly. There is a disadvantage regarding that issue. Also because there is a little machismo in men or a lot in Hispanic men. If a woman wants to get ahead, then the Latin man begins to complain or make her feel bad, thinking they are being passed on in their role as men. That is machismo. That also makes women have that disadvantage.
What are the keys then to having healthy finances?
For the financial area it is necessary to have control of income and expenses, to know your financial situation because many women simply avoid it or do not want to listen about it. We simply ignore it because it produces fear or anxiety knowing that you are not being financially organized. The second step is to control emotions because we as women are emotional and we tend to buy or fill emotional voids with material purchases and that happens to many women, it does not matter if they earn more or less. And third, it is important to have financial goals because many women don't have goals and do not know what the direction is, they do not project themselves five years from now, they want to be entrepreneurs, they want to have their first house, etc.
Where should people invest to start earning an income right now? Is the Real Estate market still interesting?
It's not just saving. We help women acquire healthy financial habits, such as the habit of saving so that they can organize and plan for the future. We encourage women to invest in real estate, because they are tangible investments, because you are creating assets, you are earning capital gains, you can rent, you can sell, etc. Precisely the topic of real estate, particularly in Miami or in the state of Florida in general, continues to be a very attractive topic. I'm an investor, and that's the reason why I not only promote it, but I do it, and I have not only the knowledge but the authority on the subject. I invested and have several properties, my specialty is investing in real estate when pre-construction and waiting for that investment to grow over time. For many people, although the interests are high and although they do not have the same easy access, it will be the best investment.
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