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Episode 108. How To Overcome Financial Abuse | Jennifer Toledo of Talk Finances To Me

October is Domestic Violence Awareness Month and here at Yo Quiero Dinero™, we wanted to shed light on a very common but very misunderstood type of abuse: financial abuse.

 Trigger warning: This episode features topics like domestic violence and financial abuse. Listener discretion is advised.

Jennifer Toledo is the founder and CEO of Talk Finances To Me. She’s a Latina who loves talking about anything related to money & personal finance. She coins herself as “your new go-to sister” that shares everything she knows when it comes to financial success. Jennifer wanted someone to help her understand how to manage money, how to organize finances, and how to build generational wealth, but with no resources around her, she became her. Now THAT’s our definition of staying poderosa!

Jennifer accumulated over $10,000 in credit card debt (twice), took out over $3,000 in student loans (but didn’t graduate), and ruined her retirement account from over $10,000 invested in 3 years to $0. She found herself in a toxic and controlling relationship, which resulted in her HAVING to figure out how to tackle her money issues. Not being able to afford to leave was the tipping point for her. She thought to herself:

“Why would I depend on another person to survive? How could I leave with no money?”

Fast forward to the present day, Jennifer (along with her fiancé) bought a home, she is almost consumer debt-free, managed to save over $20,000 in her emergency fund & is creating multiple streams of income. CAN WE GET AN AMEN TO THE GLOW UP!!!!!

You can follow Jennifer on Instagram, Facebook, YouTube, TikTok and her blog.

In Episode 108, Jennifer talks about:

  • Her relationship growing up with money—Very early on, her parents taught her that she needed to work hard for her money and needed to be responsible with it. But as she made more money, she spent more money (we can relate🤦‍♀️). Listen to how that mindset affected her in her adult life. 
  • Dealing with a toxic and controlling relationship and how that affected her dinero—Being a victim in an abusive relationship not only f*cks with your physical and mental health, it also f*cks with your money.
  • Balance transfer accounts and how it helped pay down her debt—Prior to acquiring her balance transfer account, you won’t believe how much she was paying a month in interest alone!😱
  • What motivated her to change the way she managed her finances—Find out how she was introduced to the world of personal finance and what specific strategies helped her gain back control over her dinero. 
  • Shifting your mindset away from a perspective that keeps you in the vicious cycle of bad spending habits—A lot of us face the pressure of having to live up to a certain standard because of what society “paints as a picture of success”. 
  • And much more!

We loved episode 108 with Jennifer. She shed light on a topic that a lot of people in the personal finance community don’t typically address. Her story is SO inspirational and this is why we have the platform that we have…To highlight bad-ass women like Jennifer. She is proof that once you gain the strength to change your circumstances and surroundings, once you remove yourself from toxicity, and once you realize your worth and refuse to settle for less, your life can change completely. We adore you, Jennifer! Thanks for being so transparent with us😘

Domestic violence and financial abuse is something that needs to be talked about more. According to the National Network To End Domestic Violence (NNEDV), financial abuse is a form of abuse that is so common. Research shows that financial abuse occurs in 99% of DV (domestic violence) cases; about 1 in 4 women experience it. So if you aren’t personally going through a situation like that, someone you know is.

In some cases, financial abuse is present throughout the relationship. In other cases, financial abuse becomes present when the survivor is attempting to leave or has left the relationship. Financial abuse, while less commonly understood, is one of the most powerful methods of keeping a survivor trapped in an abusive relationship, and deeply diminishes the victims ability to stay safe after leaving an abusive partner.  

With the realistic fears of homelessness, it is no wonder that survivors sometimes are forced to return to an abusive partner. For those who manage to escape the abuse and survive initially, they often face overwhelming odds in obtaining long-term financial security and safety, ruin credit scores, sporadic employment histories, and legal issues caused by the abuse can make it extremely difficult to get independence and safety and long-term security. 

If you or someone you know is being abused, please call the National Domestic Violence Hotline at 1-800-799-SAFE (7233) or visit NNEDV.org💜

Did you love episode 108? Let us know by leaving a review (we read them all!) if you’re listening on Apple podcasts & be sure to follow us on InstagramFacebookTwitter and YouTube!

As always, remember to #StayPoderosa!

Partners mentioned in this episode:

BetterHelp – Professional Support When You Need It, At The Fraction Of The Cost Of In-Person Therapy. Get 10% off your first month!

Want to kickstart your financial journey?

Download our free 14-page guide covering all the topics you need to start making your dinero moves. From money mindset, to budget basics, we’ve got you covered.

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