On the last Sunday of every month, booth., a Pawtucket gathering space, is home to The Money Club (TMC). Led by Miellette McFarlane and Tatiana Baena, the new meetup empowers members to achieve their financial goals while also offering guidance for navigating personal finance and investing. The idea for the group stems from its leaders’ desires to take control of their own financial futures.
For McFarlane, caring for a sick parent was an eye-opening experience. “While I had always taken pride in my ability to manage my money, I felt suddenly burdened with the feeling that I wasn’t fully preparing for the life I want to live and want to leave for my future family,” she says. Baena grew up filling out paperwork for her parents, helping siblings with schoolwork, and being involved in her family’s finances. “Being the eldest daughter of immigrants brings undeniable pressure – we often become caretakers or second parents before we are ready,” she explains. “I’m constantly sharing tips and resources with my family to help grow our wealth and pave the way to a better life for future generations.”
“My goal [with TMC] is to create a space where we can share knowledge, hold each other accountable, and celebrate each other’s wins,” says Baena. Using their “3M” pillars of mindfulness, management, and manifestation, McFarlane and Baena structure TMC workshops around actionable lessons, with different topics every month. Each meeting also includes working sessions allowing members to review their finances, seek guidance, and set goals for the next month. “The hope is that members will be able to see month-over-month progress and use TMC to help support and celebrate them along their money journey,” says McFarlane.
“While TMC is for everyone, we recognize that women and BIPOC have historically been institutionally barred from accessing the full set of resources regarding building wealth.” Noting the continued wage gap between men and women, and that women often also take on caretaker roles, McFarlane continues, “It is imperative that wealth building begins with and is passed on through women.”
This month’s meeting takes place March 26 covering side hustles and entrepreneurship. Follow @themoneyclub_ri on Instagram to learn more.
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