We’re excited to introduce you to the always interesting and insightful Naseema McElroy. We hope you’ll enjoy our conversation with Naseema below.
Hi Naseema, thanks for joining us today. Let’s kick things off with talking about how you serve the underserved, because in our view this is one of the most important things the small business community does for society – by serving those who the giant corporations ignore, small business helps create a more inclusive and just world for all of us.
The personal finance space has traditional gatekept people of color. I break down those barriers by making wealth-building accessible to others.
As a black single mother, I have been able to pay off nearly a million dollars in debt and build my net worth to nearly a million dollars in seven years.
I am setting my daughters up to be millionaires as early adults.
Awesome – so before we get into the rest of our questions, can you briefly introduce yourself to our readers.
I did everything I was “supposed to do.” Went to college, got the six-figure job, bought a house, and drove a luxury car. I was Instagram popping but in reality, I was broke.
Tired of just looking rich, I wanted to truly build wealth. In 2015 I decided to commit to getting better with money.
I read tons of personal finance books and clocked hella hours listening to podcasts and audiobooks.
I didn’t just learn, I took action! Once I saw how implementing the things I was learning turned my finances around and ultimately improved how I was living as a whole, I wanted my friends to feel the same freedom.
I created my platform to share my journey and the tips I was learning along to way. Initially, it was just for my friends but it grew into a community.
What’s a lesson you had to unlearn and what’s the backstory?
On my debt payoff journey, I was an avid Dave Ramsey follower who condemns investing while paying off debt. This was advice that didn’t work for me and cost me a lot of money.
If I had maxed out my pretax retirement accounts in 2015 and 2016 while I was paying off my debt, I could have saved over $80K.
Here’s the math:
$18K in my 403b/401k
$18K in 457
$5,500 in a Roth IRA
$2K Employer Match
How did you build your audience on social media?
I started my Instagram account in 2016 but have had exponential growth this year. I can attribute that to consistency and authenticity.
My most popular post are ones where I’m candidly sharing my story with full transparency.
When you see that your audience gravitates to some content more than others you want to continue to create similar content.
Pay attention to your metrics but don’t be afraid to experiment with things that are unconventional.
- Website: https://www.financiallyintentional.com/
- Instagram: https://www.instagram.com/financiallyintentional/
- Facebook: https://www.facebook.com/financiallyintentionalbiz
- Linkedin: https://www.linkedin.com/in/naseema-mcelroy-162085122
- Twitter: https://twitter.com/financialintent
Brittney Walker Kola Shobo Rogelio Aranador