April is Financial Literacy Month
April is Financial Literacy Month, which is designated by Congress to raise awareness about the importance of financial literacy education, something even more important with the economic uncertainties caused by higher inflation and the ongoing pandemic.
We all make mistakes – we all face challenges – but what we learn once we come out the other side is what really matters. We believe that a crucial part of financial wellness is resilience. So we decided to dedicate today’s episode to a variety of stories that demonstrate this resilience.
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1:19 Kendal explains how she originally ended up in bankruptcy and took steps to avoid it again when she and Matt reached another crossroads.
2:45 Matt describes how their improved financial situation allowed them to invest in home repairs to make their home accessible to their special needs son.
5:24 Michele takes out a consolidation loan that didn’t end up solving her debt problems.
6:57 Her new outlook fundamentally changes how she approaches her spending.
8:37 Angela’s credit card debt slowly becomes unmanageable.
11:33 She starts applying the job training she receives from GreenPath to her own situation.
13:16 Monte receives his first credit card as a 19-year-old and after overdoing things, gets sued and has his wages garnished.
15:30 He shares how he’s navigated his finances while living with a mental health condition and offers advice to others.
18:04 Jeff and Victoria adjust to their new reality after having their first child at a young age.
20:04 They reflect on the mindset they adopted to get out of debt.
21:59 After living beyond her means, the birth of her son causes Tanisha to rethink her spending patterns.
24:17 She involves her now 15-year-old-son in her financial decisions to help him as he becomes more independent.
26:01 Whitney realizes that a title loan just makes her situation worse.
27:07 She and Russell offer guidance for others when their finances are affected by a medical condition.
Music by Hir-O