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5 Questions With….. Ash Cash


ash-cash-bleu-magazine-big-cedOne of the things that shape our lives is finance (Or the lack of it) and it seems as if a lot of people don’t have theirs in order. You can have intelligence and talent, yet, still fail in terms of keeping and/or making money. It seems that although Blacks have tremendous spending power, we somehow, don’t manage our money in a way that would be even more beneficial for our community.

Ash Cash is a banking professional who is doing his due diligence to not only educate his community on the benefits of being financially responsible but, he is also doing his best to spread motivational inspiration through quotes and statements. An author as well, he is helping to better situate people financially, emotionally, as well as helping people understand how to make their money work for them.

1. As a banking professional, what are the biggest errors you’ve noticed, specifically in the Black community, that people make when it comes to finances?

In my experience, the biggest error I’ve seen in the black community as it relates to managing finances is the lack of preparation for the future. Because a lot of us live from paycheck to paycheck, we don’t budget ourselves for emergencies or properly protect our assets. A lot of us don’t believe in systematic savings, life insurance, home ownership, investments, and other wealth building vehicles, but yet we are the biggest consumers. According to a recently published Nielson report, our buying power will be $1.1 trillion by 2015! It’s definitely time for us to get the knowledge necessary to build wealth for our communities and stop the generational wealth gap.

2. You’re written 2 books, ‘Mind Right, Money Right: 10 Laws of Financial Freedom’ and ‘What the FICO: 12 Steps to Repairing Your Credit.’ What was your motivation for penning the books and what has been your feedback regarding them?

The knowledge necessary to uplift our community financially has been around for years but in my opinion, this information isn’t taught in a way that is easy for us to digest. Given that I am from the community and understand a lot of the wealth principles that will help us become financially free, I wanted to create a guide that was easy to follow and easy to implement. So far the feedback has been great. I get a lot of people thanking me for writing in such a conversational tone that is easy to follow.

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3. As a Certified FICO Professional, why is it important for people to understand what FICO is and the determination of their FICO score?

Credit controls our lives; whether it’s home ownership, buying a car, getting a personal loan, business loans, applying for a job or even getting a promotion. Wealthy people understand that you can leverage your credit to build wealth so it’s important for us to understand this as well. It is also important because not having good credit or understanding our FICO scores can cost us dearly in high rates and fees.

4.  In the world of entertainment, why do you think a lot of entertainers, who are successful in their craft and talent, are failures in their finances and the upkeep of their financial control?

The truth is that most entertainers are not good at managing their finances because they spend most of their time mastering and living their craft. A lot of them, because of their beginnings, struggle with bad money habits and have poor money management skills to begin with but in a short time, they become rich and those bad money management skills just become more prevalent. It is important for those who are in these types of industries to learn and start practicing good finance habits well before they get their big break in order to ensure that they have longevity… Not only in their craft but financially.

5. You write a motivational column titled “The Daily Word”, which encourages people and utilizes quotes from notable people, what gives you the energy/motivation to do that on a daily basis, along with your financial influence?

I am a strong believer in the universal principal that says “The more you give, the more you get.” I have been fortunate and blessed with a great life, great family, and wisdom beyond my years, so I feel that it is my obligation to give back in order to continue to live abundantly. The Daily Word started in 2006 after watching the movie “The Secret” and learning the concept of thoughts become things.  It was simply an email with quotes that I would share with only friends and family but after a while, it quickly grew into something that thousands of people enjoy daily. The fact that people tell me that I am helping change their mindset is really all the motivation I need to keep going. Also, as a financial adviser I know that if you don’t have your Mind Right, it will be difficult to get your Money Right, so the goal of the Daily Word is to help you think more positively in order to live your best life!

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