Forever35 Podcast Episode 358: "Speak Your Voice with Your Money" Featuring Janice Torres

Release Date: June 23, 2025

In Episode 358 of Forever35, co-hosts Doree Shafrir and Elise Hu delve deep into the intricate relationship between money and personal well-being. This episode features Janice Torres, an award-winning Latina money expert and the author of Financially the Modern Latina's Guide to Level Up Your Dinero and Become Financially Poderosa. Together, they explore a plethora of financial topics, offering listeners insightful advice and practical strategies to enhance their financial health and align their finances with their personal values.

1. Guest Introduction: Janice Torres [12:39]

Janice Torres brings a wealth of experience as a financial expert dedicated to empowering marginalized communities. Her journey from accidental entrepreneur to a recognized personal finance educator highlights her commitment to filling the gaps in financial conversations, especially for Latinas and women of color. Janice's platform, Yokiero Dinero, alongside her podcast Yo Quiero Dinero, serves as a beacon for those seeking financial independence and empowerment.

2. Self-Care and Finances [14:24 - 15:55]

Janice Torres emphasizes the often-overlooked connection between self-care and financial health. She challenges the traditional notion of self-care being purely superficial activities like spa days or manicures. Instead, Janice advocates for financial self-care, which involves nurturing one's financial well-being to secure a stress-free future.

Janice Torres [14:48]: "Real self care has to do with your finances. For me, I've discovered that I'm very good at taking care of future me... So part of my self care is working on my mindset to make it okay for me to spend money today and not just on future self."

This perspective underscores the importance of balancing present enjoyment with future financial security, highlighting the psychological aspect of financial management.

3. Exploring Side Hustles [18:11 - 20:25]

Discussing the concept of side hustles, Janice delineates them from part-time jobs by emphasizing their foundation in personal passion and unique skills. She advises listeners to identify what they are good at and passionate about, then find ways to monetize these talents. Content creation emerges as a prominent side hustle avenue, with Janice sharing her decade-long experience as a blogger, podcaster, and social media influencer.

Janice Torres [18:41]: "Start with what you are good at... whether it's cooking, sewing, painting, singing, dancing. These skills can potentially turn into a side hustle, selling services, digital courses, ebooks, workshops, speaking engagements."

4. Listener Questions and Expert Insights

The heart of the episode lies in its interactive Q&A segment, where Janice addresses various financial concerns submitted by listeners.

a. Finding a Good Accountant [20:25 - 23:05]

Janice advises that selecting the right accountant, especially for those in non-traditional income streams like the creator economy, requires thorough research. She recommends ensuring the accountant has relevant experience and understanding of unique business models.

Janice Torres [21:00]: "Make sure the person you're considering has experience working in the arena that you are making money... Talk to your network for sure."

b. Emergency Funds and Retirement Planning [27:36 - 48:32]

Janice discusses the importance of maintaining an emergency fund, advocating for a "freedom fund" that not only covers emergencies but also provides the financial runway for personal pursuits like career shifts or sabbaticals. She emphasizes tailoring the size of this fund to individual circumstances, suggesting a minimum of three to six months of living expenses.

Janice Torres [44:33]: "The more the better... I've called it a freedom fund because it's more empowering than just an emergency fund."

For midlife individuals looking to catch up on retirement planning, Janice suggests utilizing online calculators to assess retirement goals and considering creative living arrangements to reduce expenses.

Janice Torres [46:14]: "Use a calculator on investor.gov to see when you can retire based on your financial goals... Consider moving to areas with a lower cost of living."

c. Investing Strategies [31:11 - 36:07]

Janice differentiates between investment accounts and bank accounts, stressing the importance of active investment choices to ensure growth. She recommends beginners start with target date funds for a "set it and forget it" approach, automatically adjusting asset allocations as one approaches retirement.

Janice Torres [31:23]: "With an investment account, there's that additional step of choosing investments... Target date funds are perfect for beginners who don’t want to worry about buying the right stock."

She also highlights Fidelity’s zero-fee mutual funds as an excellent option for fee-free investing.

Janice Torres [36:02]: "Fidelity offers zero fee mutual funds... it's a great way to invest in the stock market with no fees."

d. Debt Management [41:32 - 44:20]

Addressing debt elimination, Janice introduces the "debt lasso method," which involves consolidating high-interest debts onto a new credit card with a promotional 0% APR, provided one has good credit. She underscores the necessity of a strict repayment plan to avoid accruing interest post-promotion.

Janice Torres [41:57]: "The debt lasso method is for those with decent credit... Open a new credit card with 0% APR, consolidate your debt, and have a repayment plan to pay it off within the promotional period."

e. Aligning Investments with Personal Values [49:41 - 51:35]

Janice encourages investors to align their portfolios with their values to foster systemic change. By diversifying the pool of investors, especially including more women and people of color, there is potential to influence corporate practices positively.

Janice Torres [49:42]: "We didn't get to choose the system we're born into... Use the system to create financial security and hold companies to higher standards."

5. Personal Updates and Closing Thoughts [52:07 - 55:37]

The episode concludes with the hosts sharing personal anecdotes and experiences, fostering a sense of community and relatability. Janice reiterates her commitment to empowering listeners through her platforms and encourages continued financial education.

Janice Torres [51:39]: "You can find me wherever you're listening to this podcast... Thank you guys for the invite."

Key Takeaways

• Financial Self-Care: Prioritizing financial health is integral to overall well-being, balancing present needs with future security.

• Side Hustles: Leveraging personal talents and passions can lead to meaningful and profitable side ventures.

• Specialized Financial Guidance: Choosing financial professionals with relevant experience is crucial, especially for non-traditional income streams.

• Emergency and Freedom Funds: Establishing a robust financial safety net provides flexibility and peace of mind for various life scenarios.

• Smart Investing: Educated and deliberate investment choices, such as target date funds and fee-free mutual funds, can significantly impact long-term financial growth.

• Debt Management: Innovative strategies like the debt lasso method can efficiently eliminate high-interest debts when executed with discipline.

• Values-Aligned Investing: Aligning investment portfolios with personal values can drive systemic change and ensure financial actions reflect ethical standards.

Where to Find Janice Torres:

• Podcast: Yo Quiero Dinero – Available on all major podcast platforms.
• Website: jokierodineropodcast.com
• YouTube: Search for Yo Quiero Dinero.

Connect with Forever35:

• Website: forever35podcast.com
• Instagram: @Forever35podcast
• Patreon: patreon.com/Forever35
• Shop: ShopmyUSForever35.com
• Newsletter & Contact: Available on the podcast website.

This episode of Forever35 serves as a comprehensive guide for listeners seeking to enhance their financial literacy, offering actionable advice and inspiring stories to navigate the complexities of personal finance with confidence and integrity.