Learn to love money, in order to attract abundance
Money Talks! The Mail & Guardian, in partnership with African Bank, aired the second episode of the #UnlockWomen Podcasts. This episode featured Busi Selesho, an Internationally Accredited Money Coach and best-selling author of the book Money and Black People. Selesho shared her valuable insights on how women can transform their emotional relationship with money. The podcast was moderated by Radio Broadcaster Khanya Sosibo and Communications Consultant Doric Sithole.
Selesho is a renowned money consciousness expert who teaches courses aimed at improving people’s relationship with money. Some of her notable courses include “The Allowing Money Process” and “How to Get Out of Debt.” Additionally, she operates the Busi Selesho School, which offers the comprehensive 16-week online course titled “High Value Woman.”
During the podcast, Sosibo initiated the conversation by asking Selesho how the energy of money is vibrating with her today? Selesho expressed that money has been both the source of her greatest pain and the catalyst for her personal growth. At one point, she found herself owing the bank the substantial amount of R40 million, leading to her bankruptcy and the loss of everything she had. Paradoxically, this rock-bottom experience allowed her to feel a newfound sense of freedom.
Reflecting on her career journey, Selesho shared, “I began my career in IT, earning a good income, but it didn’t align with my true self.” Despite societal expectations, she made the courageous decision to prioritise her mental health and transitioned into entrepreneurship. While embarking on this new path, she encountered numerous challenges due to her young age and taking on excessive responsibilities, such as owning a property business and trusts.
Selesho’s book delves into the concept of “money trauma,” which she argues is a common experience among black individuals. She shared how losing her parents at a young age forced her to sell peanuts to afford her own shoes. At the beginning of her professional life, she held several false beliefs influenced by societal norms. She explained, “I acted based on what the world was saying — I believed that having debt was important, so I purchased a large TV for my sister on credit. These beliefs shaped my approach to money.”
When asked about the title of her book, Selesho discussed the unavoidable experiences resulting from her race, gender and age. However, her book emphasises that every individual possesses the same potential for financial success, regardless of their background.
According to Selesho, a significant difference between men and women lies in their perspectives on money, which often contributes to the gender pay gap. She asserts that women tend to view money as a source of security, while men see it as an achievement. Elaborating on this point, Selesho explained that women often associate money with potential hardships, such as their children’s wellbeing and overall safety. Consequently, they are more likely to prioritise having enough money to support their families. In contrast, men are often more motivated by the excitement of earning more money, which may contribute to their success in this area.
To attain financial abundance, Selesho emphasises the need for women to “level up” and develop a deep connection with money. She believes that women possess the ability to maintain composure during challenging times and can harness their emotions to attract abundance. Unfortunately, Selesho notes that women often self-sabotage due to their identification with financial struggle, considering it a familiar and safe space. She highlights the sobering statistic that only 2% of women retire with substantial wealth.
Sosibo and Sithole both stressed the importance of Selesho’s book for women, urging them to rise above their fears and gain valuable insights. Sithole specifically emphasised the significance of young black girls reading the book, as it could help prevent them from experiencing the financial traumas commonly faced by women. Selesho believes that her personal hardships unveiled her life’s purpose and showed her the path towards enlightenment. She encourages women not to fear loss but rather to embrace their innate creativity, as loss is merely an opportunity to create something new.
If you are interested in reading Selesho’s book, it is available for purchase on her website at https://busiselesho.com/product/money-and-black-people/ and on her Instagram account at https://www.instagram.com/busiselesho/.
Podcast Episode 2 is now available on Youtube @africanbanktv
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