Thank you Lynnette for participating in our interview project!  -The SCBC, Inc.

Where are you from?  I was born in Manhattan and raised in Los Angeles, but I currently live in Northern New Jersey.

Tell us your latest news?  The most exciting thing that's happened to me recently (professionally speaking) is that my latest book, Zero Debt: The Ultimate Guide to Financial Freedom, hit the New York Times extended best sellers list just two months after publication. As of December 2004, Zero Debt was ranked #8 among New York Times business paperback best sellers. The book's official publication date was Oct. 1, 2004, and we're already in the third printing of Zero Debt, with 60,000 copies in print. Much of the buzz happened after I made appearances on The Tavis Smiley Show, The Dr. Phil Show, and The Jane Pauley Show.

When and why did you begin writing?  I've been writing since high school, when my teachers consistently encouraged me and told me that I had strong writing skills.

When did you first consider yourself a writer?  I guess I would say I first considered myself a writer after landing a reporting job at my college newspaper. That was in 1987 when I was an undergraduate at the University of California, Irvine.

What inspired you to pen your first book?  I write non-fiction business/personal finance books exclusively. My first book was called Investing Success: How to Conquer 30 Costly Mistakes & Multiply Your Wealth. Charles Schwab wrote the foreword to the book. I wrote it because I was a journalist (I'm a former Wall Street Journal reporter for CNBC), and I would see so many investors making mistakes with their money.

Who or what has influenced your writing, and in what way?  I'm a voracious reader of other personal finance books and business titles in general. Part of what influenced me was seeing how dry, or technical a lot of these books were. I made it a point to write in the OPPOSITE fashion of what I saw in the marketplace. There were a handful of books that really motivated and inspired me, as well. One that comes to mind is David Bach's Smart Couples Finish Rich. I actually read that book when I was on a Caribbean vacation (I know that probably sounds nerdy!). But he had me so motivated that I was making calls from the islands back to the U.S. to take some of the steps he recommended to get my finances into shape.

How has your environment/upbringing colored your writing?  I grew up in a big family ... I have 5 sisters. One advantage of that is that I can work in any kind of environment - hectic, noisy, cluttered, you name it. I can tune out everything, sit at the keyboard and just write. As a result, I rarely suffer from writers block because of the environment around me. And my current surroundings can get really crazy, especially when my two children are around. :-)

Do you have a specific writing style?  My objective is to write simply, directly, and in a way that people "get it." I don't feel the need to show how "smart" I am about money-related stuff by using complicated jargon and technical language. I also try to give direct advice/guidance. I think people like it when I "cut to the chase" and simply say "Do this." And then they can take action.

What genre are you most comfortable writing?  Non-fiction personal finance. 

How did you come up with the title for your book(s)?  I originally called my first book Investing Mistakes. But the marketplace spoke to me about that one (real quick!). When I would tell people about the book and state the title, they would sort of cringe and ask: "Ohhhhhh! You're not going to beat me up over all the investing mistakes I've made, are you?" Then I would explain: "No, this is a book about how you become a more successful investor." And instantly their eyes would light up and they'd be interested. So one day I was coming home on a plane from Dallas, after attending the National Association of Black Journalists convention, and it hit me: Investing Mistakes is the wrong title. People want something positive and inspirational. This book should really be called Investing Success. So I changed the title.

With my second book, Zero Debt, I have my consultant and agent Earl Cox to thank for the title. He challenged me to write this book, and to do it quickly because debt and excessive credit card bills are such a huge problem for so many folks in this country. Earl came up with the title Zero Debt during a three-way brainstorming telephone session with me and my sister Deborah Darrell, who's also my media coach.

Is there a message in your novel that you want readers to grasp? In Zero Debt, I try to give people a message of hope. I reveal that even though I'm a money coach and personal finance expert, at one point I had more than $100,000 in credit card debt. Fortunately, I was able to pay it all off in less than three years - without filing for bankruptcy, entering a debt management program or getting credit counseling. I tell people all the time that if I could dig out of my hole, I know they can too.

How much of the novel is realistic?  My books are as "real" as it gets. We're talking about people's real life finances, something that unfortunately stresses out millions of individuals and families who are struggling to pay the bills and make ends meet.

Are experiences based on someone you know, or events in your life? A lot of Zero Debt contains wisdom that I learned over the years during my decade-plus tenure as a financial news journalist. But a huge part of what I know and write about is also directly tied to my personal experience with debt and conquering that debt.

What books have most influenced your life? Wow ... that's a weighty question. If I had to pick three books that have most influenced my life I would say:

1) The Bible, because it gives me a moral compass and teaches me how to live day-to-day. I grew up reading the Bible thanks to my mother, who really stressed upon my sisters and I the value of living a Christian lifestyle.

2) Multiple Streams of Income, by Robert Allen, because it completely revolutionized my thinking about being in Corporate America. It made me realize that you HAVE to have something other than a paycheck and a job to be financially secure and to have financial freedom. And ...

3) Zero Debt -- my book! I know this may sound vain. But when I say Zero Debt has influenced my life I'm really referring to how it is my constant and daily reminder that I need to be smart about the choices I make with my money, because some pretty terrible things can happen if I’m not. They say that as an "expert" -- in whatever field you may be -- you teach what you need to know. And I think that's sometimes especially true about writers. For me, writing Zero Debt was part therapeutic -- to put out all my business out there, and to admit that I had more than $100,000 in credit card debt. But the book has also been redemptive in many ways. Zero Debt, for example, provides a platform for me to give workshops and financial seminars around the country. I often use myself as an example of what NOT to do. And I think people appreciate my honesty – as opposed to me just getting up there and spouting some academic theories about how to get out of debt. I've been there. Also, when I teach people various lessons about proper financial management, that reinforces the message to me as well. For instance, in Zero Debt I acknowledge that I'm an over-spender. That's a big part of what drove me into debt. Even now, I have to struggle a bit with that. I keep it under control, and I'm more conscientious about my spending patterns. But it's still an issue for me. The only difference now is that I've gotten much better at NOT spending/living beyond my means. And, of course, I pay off my credit card bills now in full! :-)

If you had to choose, which writer would you consider a mentor? This is probably an odd choice because the person I'm going to choose calls herself an "authorlette" not an author. Her name is Paulette Ensign and she's known alternately as the "Booklet Queen” or the “Tips Lady.” Paulette writes booklets - and she's sold over 500,000 of them. But her booklets are written in a style to give people "tips" about the information they need. She writes very simply, directly and to the point. She says most people are busy and they don't want to spend a lot of time with the ins and outs of non-fiction and how-to titles. They just want help solving their problems. So that's what I try to give readers: solutions. When I met Paulette a couple years ago at Book Expo in L.A. she told the audience at one of her seminars: “If you people writing books are authors, I guess writing a booklet makes me authorlette.” Because of Paulette's advice, I'm also developing personal finance booklets.

What are you reading now? Getting Things Done: The Art of Stress-Free Productivity by David Allen.

What new author has grasped your interest? In the fiction category, I like Brandon McCalla, author of Diamond Drought and Diamond Dynasty. When I read Diamond Drought, an urban hip hop drama, I was surprised to find that it had the pace and feel of a TV soap opera. All the cliff-hangers in the book took me back to my former days when I used to love to watch General Hospital and All My Children!

What are your current projects? I'm currently completing The Zero Debt Workbook. Also, in 2005, I'll be coming out with the sequel to Zero Debt. It's called Perfect Credit: How to Get It & Keep It For Life.

Do you feel that the boom in African American writers is a fad or another renaissance? It's a continuing and growing trend. African American writers are here to stay - in every genre.

Do you feel more African Americans are reading?  Statistically, can we quantify whether "fewer" or "more" African Americans are reading? Probably not. But I don't buy the misconception that "Black people don't read." Of course they're reading. I've had thousands of African Americans buy my books and so have many other authors.

Name one entity that you feel supported you outside of family members?  Black book clubs around the country have been enormously supportive – for which I’m tremendously appreciative.

How does your family and/or friends feel about your book or writing venture in general?  Everyone is very happy about how things are progressing. They've enjoyed seeing my transition from a daily full-time journalist to a book author/publisher.

Do you see writing as a long- or short-term career?  I can see myself writing two books a year for many years to come. I also plan to continue publishing other non-fiction business/self-help and career titles. Besides my titles, two books to be published in 2005 by Advantage World Press are Ready, Set, Grow! 10 Success Strategies For Winning in the Workplace by Veronica Holcomb, and You Can Afford to Retire by Michael Kresh.

If you had to do it all over again, would you change anything?  I would’ve written Zero Debt first. :-)

Is there anything additional you would like to share with your readers? I’d love for them to sign up for my free personal finance e-newsletter at my website: http://www.themoneycoach.net.

Self-Publishing Questions:

How do you feel overall about self-publishing?  I think self-publishing is a great route for authors who want to be more in control of the publishing process or for those who have entrepreneurial ambitions. In my case, I turned down offers from two publishers -- John Wiley & Sons and Dearborn Trade Books, and published Investing Success on my own by launching my company, Advantage World Press.

What are the strengths and weaknesses of promotion for self-published authors?  It's no different than traditionally published authors. Promotion comes down to putting in the time, energy/work and money required to let the world know about your book. Successful authors - both self-published writers and those with mainstream houses - promote their books tirelessly. And they put money behind the books too – for advertising, touring, marketing materials like flyers, bookmarks, postcards, etc.

What do you feel is one major benefit to self-publishing your book?  Self publishing gives you an opportunity to learn about lots of facets of the publishing business -- dealing with printers, inventory issues, distribution, the editorial process, etc. The downside is that if you don't have a team of people to help you with all these functions, self-publishing can become both an overwhelming endeavor and a money-losing proposition. Oh, and with self-publishing, if you do it right, you can make a LOT more cash than the typical 10% royalty deal that publishers offer.

Would you encourage or mentor someone to become self-publish?  I tell people self-publishing generally is most viable and beneficial to those who make it their full-time job/career. If you're working a 9 to 5 for some company, and then you expect to self-publish a book “on the side" and sell a ton of books, you will probably be sorely disappointed. Not to say that it can't be done. But I think that those who really shine in this business are the people who are committed, passionate and can afford to put in the time necessary to rise to the top.

Lynnette Khalfani
The Money Coach LLC
P.O. Box 452
South Orange, NJ 07079
www.themoneycoach.net
lynnette@themoneycoach.net

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