How To Become A Rich Latina In Every Way

2024 Author: Steven Freeman | [email protected]. Last modified: 2023-12-17 08:15

When some millennials see the word “rich,” they think of million-dollar ideas featured on the ABC hit show Shark Tank or A-listers like the Kardashians vacationing in Turks and Caicos. But it's rare that they think of themselves. According to Bloomberg, 47 percent of Americans ages 18-35-the millennial generation- do not expect to live better than their parents.

But what if we told you that it was possible and that we had the tips and tricks to add digits to your paycheck?

Proving that you can be self-made, former TV mogul and entrepreneur Nely Galán shared her journey to success at People en Español's 'Poderosas Live' event and now reveals her best tips to achieve a richer life.

Tip 1: "Change your mindset from instant gratification to goal orientation."

Galán suggests that you save the money you've earned for bigger things than those expensive shoes you saw online. When you're thinking about taking out your credit card, think like an entrepreneur. "Don't buy shoes, buy buildings," Galán says.

Tip 2: Set your goals

You set the path in which you walk. Galán suggests formulating 10 “big goals for your life.” Remember: the bigger, the better. If you think small, you'll settle for small. Additionally, as you're setting your goals, make plans to invest. Make money, save it, and then invest it.

Tip 3: "Save yourself before trying to save the world."

Want to make a difference in the world? Amazing! You can and you will! But focus on taking care of yourself first before you start resenting the community you're helping or you're starting sabotaging yourself from getting further as a “wounded healer.”

Tip 4: "Your pain is your most authentic gateway."

Turn your pain into profit. Galán says you have to own your pain and once you do, you might find your calling. Whether you share your story to make a difference or use your struggle as fuel to invent something new, for example, let your pain be the way out.

Tip 5: There is no Prince Charming

"Nobody on Earth is here to save you," says Galán. Do not rely on anyone - not a partner, not your boss or company, not the president of the country to lead you to success or happiness. Only you can do it. The sooner you learn that, the happier you will be.

Tip 6: Choose yourself

Galán drove cross-country from New Jersey to Texas at the age of 17 for her career. Although her mother tried giving her a guilt trip about leaving, she put herself first and became the self-made woman she is now.

Tip 7: One hour a day

Take one hour each day to work on your big goal or idea. It doesn't have to involve life-changing sacrifices. “Find a problem that you're an expert at,” says Galán. When you identify that problem, start acting like an entrepreneur and dedicate those 60 minutes a day to finding solutions.

Tip 8: "I could fix my own problems."

When Nely's parents couldn't afford to pay for her education at a young age, she took it upon herself to work for a beauty brand and earned the money. That's when she learned that she could help herself. Years later, she would be told to get her "own chips," and that's exactly what she did. You can too! It begins with the decision to start.

Tip 9: "Fear and failure have to become your best friend."

Galán found that with her failures, came successes. Even the most successful individuals have fear; whether you face them or run away from them will determine if you end up living in abundance. Dealing with failure? Cry if you have to, then get back on “the horse,” she says.

Tip 10: Live life in stages

Whether you're folding clothes at a retail store or are a 20-year-old waitress, don't complain. Accept it and then think like an owner wherever you work. “Every stage in your life you're training,” counsels Galán. If you're working at a restaurant, think about what it's doing right and what it's doing wrong. You'll be surprised at how helpful that will be for you as a businesswoman.