Meet Lyanne Alfaro, Creator of Moneda Moves

For journalist Lyanne Alfaro, the relationship between money and identity is inextricable.

A first-generation Latina, Lyanne turned her business journalism skills and interest in culture and money into a newsletter and podcast called Moneda Moves. Both explore the relationship Latinx folks have with business, money, and the American economy.

Lyanne and I talked about her career, her relationship with money, and the personal finance advice she has for She Spends readers.

Editor’s note: this interview has been edited and condensed for clarity. Lyanne recently moved from New York to her hometown of Chicago, so you will see both cities referenced in this interview.

Let’s talk about your career. How did you end up where you are today?
I wanted to be a journalist for as long as I can remember. I was named after a journalist who worked here in Chicago at ABC 7. When I was in high school, there was a junior writing opportunity at the Chicago Tribune, so I took it.

I fell into business journalism when I moved to New York. (ed note: Lyanne worked at CNBC and Business Insider before moving to Nasdaq, where she is a multimedia producer and social media content director)

I wasn’t intimidated by the fact that the subject was something new. There were not a lot of women writing about business, and not a lot of Latinas writing about business. When I went into it, I was met with the realization that there was a lack of people who looked like me, not only who were doing the jobs, but the interviewees and sources.

I began pitching a lot more stories on people of color and doing a lot of research about it on my own too. The more research I did, the more I found it relatable. Not only was I reporting for my community, I was reporting for myself. It explained how I grew up in a first-generation low-income family. I understood even more how my parents behaved. There were just a lot of things that I didn't understand growing up, but in retrospect, I learned about it.

In 2018, you started the Moneda Moves newsletter. Why did you create it?
My intent in writing Moneda Moves and in talking about Latin Americans’ place in money is not only tackling data points but also tackling the fact that culture and money aren’t as separate as you may think.

I’m trying to help people feel seen and heard. It’s also documentation work in history. I started the newsletter two-ish years ago, but it took off more a year ago when I saw the pandemic start to set in and these socioeconomic disparities came forward. Everything is exacerbated with our culture and with money. We really need to talk about this and form a community over it. I want to build a platform where we document history as it happens.

What is next for Moneda Moves?
I liken myself to an entrepreneur. I want to build it to that scale. The newsletter started as an option. It’s a nice thing to do. It fills my cup. I don’t think it is just an option anymore though. I’ve been taking it a bit more seriously.

Something that used to happen for me is analysis paralysis. I’m just like, I’m going to do more instead of thinking more. I realized that I was spending too much time deciding. It’s only been a short two months into 2021, but I already feel it taking effect.

For example, I secured a brand partnership this month. This was a bite-sized goal that I felt like I could achieve, and I did.

I also just started working with a business coach. The more we progress in our careers, the more we doubt ourselves. People tell you not to have imposter syndrome, but it’s natural. Having that guidance is an investment I’m going to make.

How do you juggle your full-time job and your side hustle?
The lines have become very blurred between life at home and at work. I will say that my day job has tried to make a genuine effort for all the employees. We had an influx of work after the pandemic set in and we have been more productive than ever.

On my own, I’ve been grounding myself in my mission. It helps so that I'm not romanticizing work. If I'm grounded in my mission, everything becomes much easier to do.

When you’re doing a side hustle, your full-time job can make it easier or harder to do. Through Nasdaq, I’ve met people to collaborate with and I don’t underestimate the value of that. It’s good to have a job that values your extracurriculars, because they realize you’re human and a multi-hyphenate person.

What are you reading? What has been a source of inspiration to you right now?
Right now, I’m reading the Color of Law. I also recently read Ladies Get Paid by Claire Wasserman. I read a lot of historical things. It’s applicable to what I care about, which is why we worry about intergenerational wealth.

In terms of resources, I do like following personal finance people. It just kinds of help. I think something you really might care about if you do a side hustle is financial security. Being able to follow these people @clevergirlfinance and the @budgetnista. I like surrounding myself with these women who have been on this journey. It helps you feel not alone.

What personal finance advice can you offer readers?
Diversifying your income is always a good idea. If your job allows it, even better. I do freelance writing. Diversifying my income is something I’ve done since I was 16. I didn’t ever call it that. I just did it out of necessity. It was like, ‘how can I make sure I’m covered if something happens?’ My parents grew up telling me to save save save. So I was like, I need to make make make. I was working in a daycare. In college, I was working as a translator, doing work-study, and taking on other jobs.

I feel like if you do want to diversify your income, you have to write down a list of skills down and keep a post-it note of that. When I network with people, I think about how I can help them. That’s how I ended up doing consulting with a big nonprofit. Now I have done social media for a tech company.

I feel like side income is literally the intersection of opportunity, luck, and preparation. You know what your skills are, you continue to harness skills, and you’re ready to pitch yourself. You create them and observe what you need.

In recent years especially, I’ve learned more about investing. In a lot of Latino cultures, it was certainly true of mine, it’s not uncommon to keep your money tucked away at home. Many first-generation Latinos are distrustful of banks in some cases because of how things were back home. I grew up with my parents telling me to save save save and they would keep it in a box.

I had all of my money in a savings account for a long time. You need to not only put it in a high-yield savings account, but you need to be able to invest. I wouldn’t tell everybody to invest, but if you can, do it. Do it safely.

For me personally, I learned so much about my money depreciating in a bank account. It helps to change the mindset around some of the ways that we manage money. It’s just important to not let your money lose value and not leave free money on the table.

What do you do for fun outside of work?
I do love running. I love cardio. I used to do a bit of boxing when I was back in New York. I like hiking. I love going to concerts. I just love learning more about different cultures. If I wasn’t writing about money, I would be writing about culture or music.