I first learned about Naseema’s story when I heard about her on MissBeHelpful’s podcast. Let me just say: WOW. $1M of debt seems impossible to pay off. I loved Naseema’s no-nonsense approach to taking charge of her finances and her passion for inspiring others to do the same. I am so honored that she is appearing as a guest on my blog today to share her story with all of you.
Naseema paid off over $1M of debt in just over 2 years. An incredible story that has been widely covered in multiple podcasts and Forbes. Here’s the breakdown of her debt, just so we are all clear what types of debt were included
At what point did it finally click in your mind that the lifestyle you had, was not what you wanted? Was there a key “aha” moment or did it build up over time?
My daughter was turning one and I literally had nothing. No savings and I owed my sister for helping me pay for the blinds in my new construction. I made too much money to be this broke. Because I’ve always been good at making money, people always assumed I was good with money. That’s the point I realized. It’s not what you make but what you keep.
You owned two homes before you started your debt free journey. How did you purchase these homes in the first place? Did you have an early interest in real estate?
I started investing in real estate because I rented a booth in a hair salon adjacent to a real estate brokerage. My friend from college ran the shop and her mother owned the brokerage. They inspired me to get into real estate as a way to build wealth. They helped me improve my credit and save the closing costs I needed to buy my first home. I believe I got a zero-down loan. I bought my first house in 2004 while I was in grad school then went on to own five houses by the time I was 25.
It was not because I was financially savvy at that time. I thought the deals made sense, until they didn’t. That was a time of predatory subprime lending and when the market crashed I was hit hard. I lost two houses to foreclosure and two to short sales. What remained was the first condo I bought initially as my primary residence.
How do you think your childhood or upbringing has been influential (or not influential) in the way you approach personal finance?
I wasn’t taught much about money but as early as 5 I learned to hustle to make my own money. It was more about survival than wealth building. My platform was created to normalize wealth conversations as most of my audience was never taught about money growing up. I still don’t have it all figured out but vow to share my lessons along my financial independence journey.
How important do you think mindset change was in your debt free journey? Were there any phrases or mantras that you used to help get you through the toughest days?
Mindset is everything! The biggest thing that I had to come to grips with was that I was capable of being wealthy. I didn’t have to come from money or do something shady in the process. Building wealth is relatively straightforward and simple. That doesn’t mean it’s easy but it’s more than attainable.
What got me through the tough times was the little freedoms every debt I paid off or every thousand I was able to save brought me. I knew that compounded, those freedoms would unlock levels of access I didn’t think was possible for a Black Girl from West Oakland.
When did you start posting about your journey to Instagram and Facebook? What do you think has been the key to your success in building such a large following?
I believe I started sharing in June of 2016. I was initially just to share with a group of my close friends so I could post and not have to repeat myself, lol.
Consistency and relevant content are key. I post the things I wish I would have known growing up.
You are the mother to two beautiful girls. How do you think your identity as a mother has influenced the way you view personal finance?
What we won’t do for ourselves we’ll do for our kids. I never want money to be a struggle for them. I wanted to be the last person in my linage to start from zero.
You’ve done so many things as part of your online identity – you coach and you have a podcast. What helped you make these different products sustainable / scalable?
I do have a group coaching program. What helps me the most is that I have a team of people working for me. That’s the only way I continue to scale.
One thing that I love about you Naseema is your love of podcasts – you listen to them at 2x speed to hear things more quickly. What are some of your favorite podcasts?
My favorites are:
- Journey to Launch
- Clever Girl Finance
- ChooseFI
- Afford Anything
- Bigger Pockets
- Earn & Invest
- Fire Drill
- Redefining Wealth
- Side Hustle Pro
- Student Loan Planner
- The Fairer Cents
- FrugalChic Life
Thank you Naseema for sharing a part of your journey with us. Be sure to follow her on Instagram and also visit her website to continue to be inspired by her story.
