Paco de Leon - Finance for the People: Getting a Grip on Your Finances

Money is a proxy for power, and I believe, like so many humans in the modern world, that when you have money you have power. The most obvious way we think about this is that people who have a great deal of money tend to have a great deal of power. But, of course, the opposite is also true. And Im convinced thats why so many of us also carry such deep emotional associations to money. I once had a therapist who told me that the feeling I dread the most is the feeling of powerlessness. When I learned this about myself, I was able to see so many of my behaviors in a new light. My career in money made perfect sense when seen through this lens. To struggle with money, to feel you dont have enough, to feel like you dont have control over your financial life, is at its essence a terrifying feeling of powerlessnessfor me, for you, for everyone.

Power gets a bad rap; some people who seek it do so in order to wield it over others. I want to have power because I dont want it wielded over me. Becoming empowered in a society that doesnt want me to be empowered is one of the single most radical actions I can take. A close second is writing this book.

I didnt write this book because of my white-hot passion for personal finance. In fact, I dont have a white-hot passion for personal finance. What I do care about is helping people connect to their personal power because once you come into it, its like a bell that cannot be un-rung. Coming into your power gives you clarity. It changes your world subtly and forever. It shows you that you will always have options, but you have to learn how to see them.

I wrote this book for practical reasons; its valuable to understand how to navigate the financial system from someone who knows the twists and turns. Its also incredibly practical to use processes and systems to help you reach financial milestones. Much of the practical knowledge I share in this book comes from my experience working with clients as a financial planner, a bookkeeper, a small business consultant, a collections agent, a failed salesperson and a person owning and running small businesses. This book is different from other personal finance books for a few reasons. While its incredibly practical, its also much more than that. This book will help you think about money in a different way. Much like my realization with my relationship to power, I want to help you see your relationship with money in a new light.

Just to be clear, Im not sharing what Ive learned from the perspective of someone in the financial industry who benefits from it and wants to maintain the status quo. Fuck the status quo. This book is about setting information free.

I approached my decision to study finance and economics the same way a lot of people approach their financial decisions: I was haphazardly following conventional wisdom in an attempt to be practical, and to not screw up my life.

Before my last semester, when I examined what options a finance degree would grant me, I decided I would either become a financial planner or a business consultant. As I understood it, financial planners helped people with their money, and business consultants helped businesses with theirs. I figured it was the same kind of work, but for different types of clients.

A couple of months after graduating, and through a series of fortunate events, I found gainful employment with a boutique business consulting firm in Los Angeles. But heres what felt like a cosmic joke: the consulting firm sublet an office and a few cubicles inside the office of a financial planning firm. Weirdly, I had gotten both of the things that I wanted.

My first day of work at the consulting firm was in August 2008, right around the time that the housing crisis was starting to heat up. The financial planning firm we shared space with was having a staff meeting in the conference room next door. I could overhear them talking about the beginnings of the housing meltdown; clients were panicking, and they were coming up with a plan to help them remain calm. I already knew that I wanted to be in that conference room, sitting at that table, hearing those conversations. And I knew why.

What was happening in the financial world seemed like an exciting, once-in-a-lifetime event. I wanted to sit shotgun as the financial world burned. I know that makes me sound messed up, but I was twenty-two and had my whole boring career ahead of me. I thought this was as exciting as the world of finance could get. Two years later, I ended up working for that financial planning firm. I made it into the conference room. I got a seat at that table.