Empowerment Series: Money Mindset Expert, Licensed Investment Advisor & Broker, Author and Speaker, Scarlett Joyce Rojas Shares Financial Expertise with AW
We all need it, don’t have enough of it, and lately, we worry about it more often. If you guessed, money. You are correct! A survey done by Bankrate in 2023, revealed that concerns about money are taking a negative toll on the mental health of Americans. April is Financial Literacy Month. What better time to have an honest conversation about the green in our lives?
Growing up, our family did not discuss money. It was a personal matter that was expected to stay private. However, in this season of my life, I’ve decided to get real about it. If you had a similar experience growing up, possibly this article can help get you more comfortable with the topic.
Scarlett Joyce Rojas is a Money Mindset Expert with 20+ years of experience and a long career in Investment and Banking. She is a Licensed Investment Advisor and Broker bringing a psychological approach to wealth building. The bestselling author of “31 Badass Money Mindset Affirmations” has been highlighted by the NY Post, Bankrate, and Thrive Global. Also, the Financial Speaker has been on the stages of JP Morgan, Invesco, AOL, Advocate Channel, and LPL Finance.
Scarlette was raised by parents, who were immigrants. The single mother had to learn to shift her thoughts about money growing up, and instead adopt a healthier relationship with money. Today, as the Founder of Money Mindset Wealth Management, an investment firm fusing behavioral sciences with financial tactics, she works to inspire and help others break barriers and create wealth.
This episode covers money topics like scarcity vs wealthy mindset, the meaning of a healthy relationship with money, debt, managing finances in the home, women, and finances, reprogramming your mind, and how to build wealth.
The term “relationship with money” gets thrown around a lot. What does it mean? How can it get in the way of a wealth mindset? How important is it for us to have a healthy relationship with money and what does that look like?
A healthy relationship with money is your ability to grow wealth and continue to use money healthily without guilt. Our relationship with money starts when we are children. If the things that happen when we’re kids are not ironed out, they are magnified, as adults. The experiences you have during your lifetime set up a subconscious belief system that you may not even know is there. The thought process will hold you back from creating financial success without you realizing it, then you carry that around with you. It will make or break you, particularly in the areas of money and relationships.
There are people out there who say that wealth is dependent on luck or privilege. It’s hard to see the light in the dark. Challenge yourself to visualize wealth when one is drowning in debt. Where do we begin a shift from a scarcity to a wealth mindset?
It all starts with awareness and being real with yourself. I think it is one of the things that people don’t want to do. They don’t want to be real. They procrastinate. It’s something, I call Ostrich Syndrome. They could be in debt, and act like nothing is happening. It is the person that thinks “Let me put these bills inside my drawer and act like it’s not happening.” That does not make anything better. Therefore, step one is to look around you. Ask yourself “Is this what I want? Is this the life I want for myself? Is this what I want for my kids? Is it the life that I want to build? As a child, do I want this life or do I want something different?” Be honest with yourself. You are choosing everything around you, every single day. If you are living in a situation that you do not like, change it.
I read that women make an average of 16% less than men. In some homes, women leave financial matters to their partners. We may feel intimidated or afraid, perhaps, perceive men as being more knowledgeable in these matters, possibly, it’s too stressful to deal with. Can you offer insight into how we can empower ourselves more and transform the fear of money into something powerful or positive?
There are different reasons why a woman may not want to participate in their household finances. It could be fear. I don’t want to mess it up or I don’t know what I’m doing. So, I will let him do it. Whatever the reasoning is, you need to understand that if something happens to your partner, you are left holding the bag. These women come to my office with so much paperwork and statements, so we can try to figure out where the money is. You do not want to be in that position. You also don’t want your children learning to be in that position. You want to talk with your spouse and express to them that you’d like to be part of the finances – that is empowering.
Money is an important thing. You can say, “I want to learn about how we’re positioned in our finances,” “I want to be more responsible with the finances,” or “I want you to teach me.” Help them understand you wish to be part of it. This way, you are coming to your partner, not in an offensive way but to know what’s going on. Mention how you are a team and would like to be helpful, in case anything happens to either of you. You are there to add value.
As a Licensed Investment Advisor, you come across many financial products. There are IRAs, 401K, high-yield savings, life insurance, investments (stock market, index funds), etc. I am starting the process of trying to build a healthy financial future. What are two things to look into or start this journey with?
Instead of thinking product, think process. First, look at what comes in, your income, then what goes out. You want to look at everything going out and ask yourself, what is needed and what is not. What is discretionary and what is a must? How much discretionary funds do you want to begin investing or saving? Then, ask yourself, what am I saving for? This is creation, and it is a process.
Check your debt balances. If you have credit card debt, that is the worst debt you can have. Maybe some money from the discretionary funds should go towards paying credit cards down. Paying the minimum on a credit card is not enough. Challenge yourself to do significantly more than the minimum amount to decrease the debt.
Nowhere, in the market can I promise you 29%. But the credit card companies are charging you 29%, that money is already going out the back door. Meanwhile, you are hustling, trying to make more money. No, pay that stuff down. Look at your income, and see what is going out, what is in your discretionary, and what is needed.
I like to end interviews with a quote, mantra, advice, or affirmation. You are the author of “31 Badass Money Mindset Affirmations.” Can you share your favorite affirmation? What has it done for you or how has it helped your journey?
My favorite affirmation is, “I am here to make an impact. I have a powerful purpose.”
I know that I have a God-given purpose. I truly believe that we all have a God-given purpose. We think that we are here by accident but we are not. This has been impactful because I align with what I do. I’m here to make an impact on others and with others. I’m not in competition with you, I am in creation with you.
AW is grateful to Scarlette for sharing her wisdom with our community. None of us has all the answers, especially when it comes to financial struggles. If you are dealing with similar struggles, as millions of people are, you are not alone. I hope this information has in some way encouraged you to begin the process.
Where do you begin building your wealth? If you’re wondering how to get started with your finances or if you’re making the right money moves, Scarlette Joyce has offered a no-obligation 20-minute money call to guide the next steps of your financial journey. Please use this link to schedule a session: https://
To learn more about Scarlette, visit Money Mindset Wealth Management
Stream AW Confidential on Spotify and Apple Podcasts to see the full interview and sidebar conversations. Also, available on our YouTube channel.
*This interview has been edited and condensed for clarity.
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