Latinx and Money with Lyanne Alfaro

MAYM - Lyanne Alfaro.png

As many of you know, I’m committed to utilizing my platform to amplify all voices in the personal finance space; and I’m excited to share with you Lyanne Alfaro’s story and her journey to create the Moneda Moves podcast and newsletter, a platform for Latinos to discuss money. Lyanne joins me today to discuss the racial wealth gap in the Latino community, the roles small businesses play in building generational wealth, and why there needs to be more opportunities for the community to speak openly about money. 

What are we drinking?

Lyanne - Tea

Shannon - Black Cherry Schweppes

Podcast Notes

  • Lyanne grew up in Chicago; her parents had emigrated from Mexico. They were teachers and instilled in Lyanne an importance in maintaining her culture and keeping close to her roots. 

  • In her journalism, she had covered a variety of subjects but finally settled in with business journalism which she felt encompassed so many of the other environments she had written about in the past.

  • She noticed a lack of coverage in communities of color at large. She started pitching stories to fill this gap, particularly in the entrepreneurship of Latinos in general. She started writing the Moneda Moves newsletter as a result of this. 

  • Due to a lack of representation in the newsrooms, the news can be quite subjective. Only a part of the story may be getting told and unless you know about the community being covered, inaccurate preconceptions and biases can be passed on through the reporting.

  • In order to make the news more “palatable” for its’ viewers, oversimplified views or caricatures of certain groups may be conveyed in their coverage of these groups.

  • In the last 10 years (pre-pandemic), Latinos have been the largest group in creating new small businesses.

  • There has been a lack of access to capital and funding for these businesses, especially for those trying to ride out the pandemic. This has also been a detriment to those looking to scale up their business. 

  • Lyanne feels there needs to be a fundamental change in how Latinos view debt, wealth and money in general.

  • Policymaking can set the tone for the ease or difficulty in getting funding/financing for a community’s businesses. While this acknowledges certain inequalities, it can still fall short of its’ intent.

  • Lyanne refers to a book she recently read, “The Color of Law” by Richard Rothstein which notes systemic inequities in place that prevent certain groups from wealth building at an equal rate and has contributed to the wealth gap.

  • She feels policy can be the instrument of change for those groups who have been forced to endure such obstacles and for a tax structure more beneficial to those who don’t already have a basis of wealth to build upon.

  • Moneda Moves’ mission is to share stories about Latinos, their money, and their contributions to the American economy. The platform is available for all who want to learn more about the community. It looks to build on the collective spirit of the Latino community and share with those looking to learn of and benefit from the platform’s content.

  • Lyanne sees those in the FinTech space have shown themselves to be pro-immigration and have been making strides in providing resources to help those build credit, wealth and a better knowledge of personal finance. 

Takeaway: My biggest takeaway is the importance of community and collectively working together to understand the challenges of financial literacy and how more open and honest conversations around money talk can benefit everyone. 


Random Three Questions

1. Have you ever wanted to start a business and if so, what would it be?

2. What is something you’ve binged during the pandemic?

3. If this is your last meal on earth, what is it going to be?


Connect with Lyanne

Instagram: @lyannealfaro   @MonedaMoves

Newsletter: https://monedamoves.substack.com 

Email: lyannealfaro@gmail.com

Podcast: Moneda Moves on Apple Podcasts

Moneda Moves on Spotify


If you have any topics you would like me to cover on this podcast, or if you’d like to get in the financially naked hot seat, I encourage you to email me to Shannon@fingyms.com, or join the private Martinis and Your Money Facebook group, and let me know what you want to hear.  

In addition to helping clients save, spend, and build wealth, a primary role our trainers play at The Financial Gym is the role of financial educator. If you are someone who didn’t learn financial literacy at home, in school or on the job, I hope you’ll think of The Financial Gym as the place to go and your financial trainer as your BFF (Best Financial Friend), who’s there to help you navigate the jargon and understand the language of personal finance in a fun and empowering way. 

I’m so excited to share with you that other than monthly memberships, we have so many other ways you can support Financial Gym’s mission. We have recently launched a series of courses ranging from basics of personal finance to investing, first time home buying and family planning. These are truly amazing and you can buy them for yourselves or your loved ones. We’ve also launched our BFF affiliate page. If you’re looking for a new credit card, personal loan, or investment account, check that out and support the Gym at the same time. Later next month we’ll be launching a starter Gym membership at $35 a month and in September a monthly Mastermind group led by me to people looking to level up their finances. So go to or send friends to financialgym.com to see all of the ways you can work with us and level up your finances.

Shannon McLayComment