Kenny Davis (he/him) is a proud Black Transgender male financial literacy activist and the CEO of “THE TRANS CAPITALIST L.L.C”, the fastest growing financial literacy resource for the Queer-Transgender community.
He has spent the past three years teaching, coaching, and motivating hundreds of queer people around the world. His easy, straight-to-the-point lessons and relatable life strategies provide concrete results, and cultivate skills that help people survive the volatile economic climate of America.
He is a graduate of Rochester Institute of Technology with a Bachelor’s degree in Civil Engineering and a Masters of Finance from Pace University Lubin’s School of Business.
When was the first time you thought about money?
The first time I thought about money was at my 5th birthday party. I was opening my presents and seeing within the cards that family and friends had given me money. My mother and grandmother told me I needed to put that money in a special hiding place to save it. I didn’t fully understand it then, but now I know how important it was. Saving money can save your life.
What was your “aha” moment with money?
My “aha” moment with money was when I was at my worst financial status. I had a six-figure job but was living paycheck to paycheck. I had run out of money and was in tons of debt, facing eviction and car repossession. I pulled myself together from all that emotional turmoil and realized that there was a book in front of me, which was Rich Dad Poor Dad. It was my biggest “aha” moment because that’s when I learned that money had rules to follow. Once you follow those rules, your money starts to grow.
How has being LGBT+ impacted your relationship with money?
Being transgender has massively impacted my relationship with money. Just being transgender means I incur more expenses to live everyday life. It was costly to become financially independent at such a young age because my mother disowned me. But it’s even more expensive to medically and physically transition. After hearing all the negative stereotypes and statistics – how no one would hire me, or how I would not make enough money – I did not want to become a part of them. So being transgender gave me the motivation to change my relationship with money. I refused to be another statistic.
What are your top three tips for someone wanting to get their money habits in shape?
My three top tips for getting your money habits in shape are:
- Ask for help! Habits are difficult to change on your own. Asking for help from a trusted resource gives you a higher chance of changing money habits.
- Read books on financial literacy, especially on topics that you may be struggling with.
- Create a habit to save a little more than you usually save. With the world in economic disarray, it’s better to save more than you usually do because you do not know when you’ll end up in an emergency.
What is your approach/philosophy to financial coaching?
My philosophy to financial coaching involves making sure we discuss the importance of mental and emotional wellbeing when it comes to money. In my coaching, I dedicate whole sessions to discuss these things. Too often, financial “gurus” do not talk about money mindsets and emotions. Your mental state plays as crucial a role in handling your money well as the money habits you create. If you don’t feel comfortable and confident about money, it will reflect in your finances.
Favorite LGBT+ business (online or IRL)?
My favorite LGBT+ online business is Stealth Bros & Co. I’ve enjoyed watching them grow from a small store to a huge online presence within the transgender male community. They started by selling luxury “Dopp kits,” aka toiletry bags, to help store personal hormone replacement therapy and other medical necessities. Now they have expanded to fashionable streetwear. Stealth Bros & Co also created an annual Stealth Bros support Fund by aiding in financial support to those on their transition journeys. Please check them out if you can; you won’t be disappointed.
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