Monica Warren is the founder of Face Finances, an accounting firm in Indianapolis. She has been in business officially since 2019 but has been self-employed since 2021.
Face Finances offers financial and accounting services for small businesses, such as bookkeeping, CFO services or payroll tax planning.
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“The business has its ups and downs. I do find that in our community it’s really hard to get people to know the value of having an accountant. I used to own a boutique, and I always say I made way more money from selling fake purses than I have as an accountant,” said Warren.
“That’s because that’s what our community resonates with: buying what we think has value. They won’t spend their money to hire a bookkeeper until they owe the IRA thousands of dollars.”
She understands that this is because a lot of people are not financially literate, and African Americans fall even further under that category.
That is what motivated her to start the business.
On her website, her opening question is, “Are you tired of struggling with your finances? We empower you to become financially free.”
“Seek out the knowledge. I think a lot of people are fearful. So, you have to get over that fear of having a conversation about money. A lot of people think it’s taboo to talk about it or rude. You have to get over that fear in order to gain and get further,” said Warren.
She said people need to understand the importance of investments and savings.
“They buy a fake purse before they put money in a 529 account for their kid. Not having that understanding of saving and then just being mindful of their spendings. You have to have a budget.”
This minority business highlight was composed by Jade Jackson at the Indianapolis Recorder, who can be reached at (317) 762-7853 or via email at JadeJ@IndyRecorder.com.
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