Building generational wealth. The mission of Outliers Zone, a new online financial education start-up, is an ambitious but vital one in a society where many live from paycheque to paycheque, crimping and praying as their expenses exceed their income.
The company, launched on February 1, 2018 by Athalyah Yisrael, boldly proclaims that its vision is “to become the premier wealth creation institute of the Caribbean, to diminish generational hardship”… by awakening “the consciousness in children, women, men, and organisations to dedicate their lives towards building a legacy of happiness, health and wealth for their generation”.
It was formed out of the successful entrepreneur’s own struggles with money. “I struggled with money management. I was making money with Fun Park (first company), but every time the clients would bring the money, I would spend it. I found myself in debt and my loving husband would bail me out. Until one day he said to me: ‘You will be the downfall of our family with your money habits.’ And that hurt me. I was $400,000 in debt. I owed people money and I could not answer my phone, because I did not know what to tell them and how to pay them back. So I went looking for a solution. I came across a Money Savvy Piggy Bank – save, spend, donate, invest. I started applying the principles and it worked for me…This was the solution to my money problems!”
“The children got it, but then I said I needed to speak with the adults [“to end the cycle of generational hardship],” she declared. “What is the purpose of money?” Yisrael asked pointedly in illustrating the fact that a great many people are not financially educated. “It’s not to pay your bills. The purpose of money is to make more money to invest.”
“It is a mindset shift. People have to shift their mindset.” Some people believe they will always have money problems or never grow wealth, because their family has always had money problems, she said as she listed a few common money myths. “We have to uproot a lot of beliefs.”
To help persons to cultivate the necessary mindset for generational wealth-building, Outliers Zone was then formally established. The core of its programme is the six wells:
Earn Well – if you do not earn money, you can do nothing
Tithe Well – give to God in appreciation
Invest Well – to make more money
Save Well – save to meet whatever goals you have
Donate Well – show the universe that you are willing to share/help a cause
Spend Well – work to live on less
The response has been two-fold, Yisrael noted. “It is heart-breaking, because some people are not willing to accept where they are – they are broke and they know they are broke, and they are not willing to do what is necessary to change that. Then we have courageous people who have looked at their generation and are determined to help their children.”
Asked about the prospects of the company, which was the first to launch the Money Savvy Piggy Bank in Guyana, she said with the discovery of oil and the investments going in, “I think Guyanese will genuinely benefit from it if we are able to master our money habits.”
Her ultimate goal is to make every man, woman and child in Guyana money literate with programmes tailored for kids, teens, parents and organisations. “The best thing about starting the company is that we are able to impact the life not of one person but their generation. It is a beautiful thing.”
Contact: 623-4386; [email protected], m.me/outlierszone