By Reynaldo Mena
Eva Macias bursts into laughter, breaking the distance that a phone interview implies. “I was afraid to interview you,” I said. She responded with laughter, open to a verbal exchange.
“And why is that?” she replied with a voice that conveyed confidence. “For us Latinos, they tell us that we are going to speak with someone about money, and we start to tremble,” I explained.
“There’s nothing to fear; I wish more people would be concerned about having these kinds of conversations; it would save them a lot of problems,” she replied.
She is Eva Macías, born in California but to Mexican parents. She is a financial advisor at her company, Eva Macias & Associates Financial & Insurance Services. There, she offers financial advice to “women create a simple, easy-to-follow, and personalized financial plan in 60 minutes or less in order for women to retire wealthy. Her mission is to empower and inspire families to face their finances with confidence.”
And it’s because she experienced all kinds of situations where financial knowledge was lacking.
“I became interested in this topic when I realized that my parents retired with a compensation of $1,100 a month. I was paying more for my car than they were receiving,” she says.
She realized she had to learn about finances; she wanted to build a comfortable, planned life where she wouldn’t experience scarcity.
“We were eight children, I was the youngest, and my father worked in a nursery. My mother stayed at home, and it was very difficult to feed everyone with one salary. When I grew up, my mother also started to contribute; she worked as a nanny or in small factories. She always did everything so that we wouldn’t go hungry. We didn’t have luxuries; we were 12 people and lived in a two-bedroom house. Life was tough,” says Eva.
However, that defined how she would make her decisions in the future.
“Whenever I want something, I set my mind to getting it. In high school, I had to wear glasses, but I wanted contact lenses instead. Obviously, my mother couldn’t buy them for me. I asked for permission at school to allow me to work after class, and I saved up until I could get them. That’s just how I am,” she adds.
She says that’s how financial conversations are forged. She believes that these kinds of experiences have shaped her understanding of money and how to spend it.
She talks about the stigma in the Latino community, where showing off how much you have or how much you earn is prohibited.
“Talking about money reminds us of the trauma of not having it, of what we went through. It’s psychological. People don’t like to talk about problems at home, about what we lived through. That’s where the healing process begins. We have to learn about how we talk about money, sit down, and think about what we want in life. As the saying goes, ‘turn your mess into a message,'” says Eva.
One of the negative aspects she observes in Latino culture is jealousy over what another person does. If they earn more, have a bigger house, or dress better, they think that person is better, but she believes that a person’s value goes beyond that.
“We have to change our habits. If we help each other as a community, we won’t be ashamed to talk about finances. One has to value oneself for who they are, even if you earn $12 or $15 per hour or $100,000 a year. I have had doctors, engineers, everything, and I can tell you that when it comes to money, there is a lack of financial education. The numbers don’t lie; it’s the people,” she says.
When she started working, she entered the real estate field. It was around 2008, and she had the opportunity to acquire two houses. She also experienced the danger of losing them and her car due to the economic downturn caused by the mortgage crisis. After that, she decided that her experience could help many people, and she decided to open her consulting business, where she seeks to help Latina women, primarily, manage their finances.
“Everything is related to a plan and what we want for the future. If we want a house, we have to build a plan to get there. If we want to go on vacation once a year, we need a plan to save enough. We need to be clear about what we will do when we retire, at what age we want to retire. All of this requires conversation; if we don’t do it, we won’t be able to move forward,” says Eva.
For her, it would be ideal to teach students about finance, but she is certain that it won’t happen at schools.
“The best thing is to start at home; parents should be the teachers and have those discussions there,” she adds.
Through her experience and the complexity of economic topics, Eva Macías has reached a point where simplicity governs her life.
“I don’t complicate my life. I’m a bit of a follower of the school of Steve Jobs or Mark Zuckerberg. If they wear a black t-shirt all the time, it doesn’t bother me to wear the same clothes. I prefer not to spend time debating what to wear; I opt for what I like and what makes me feel good,” she comments.
To conclude the interview, I ask her if a person with her financial expertise doesn’t indulge in impulsive purchases or in her way of life. She laughs.
“Well, I do. Let me tell you. I’ve painted my office four times this year because I wasn’t happy with the color. I love a certain type of bag; I’m crazy about them, but they cost thousands of dollars. I don’t buy them. I prefer to use my energy to spend time with my family,” she concludes.
Eva Macías hosts a weekly Instagram segment called “#WealthyWednesdays® Wealthy,” during which she addresses inquiries. Tune in to her Instagram Live at 7 pm PST every Wednesday.
Website: www.evamacias.com
Instagram: @evamacias
You can acquire a complimentary copy of her book, ‘A Latina’s Guide to Money,’ at: www.evamacias.com/ebook
