• Jennifer Tescher and Sarah Newcomb: The Financial Industry’s Paycheck to Paycheck Predicament

  • Jun 30 2023
  • Duración: 38 m
  • Podcast

Jennifer Tescher and Sarah Newcomb: The Financial Industry’s Paycheck to Paycheck Predicament

  • Resumen

  • About Jennifer Tescher: Jennifer Tescher is a pioneering advocate for financial health, leading the Financial Health Network as its Founder, President, and CEO. Her mission is to improve financial well-being for all by aligning consumer and provider success. Under her guidance, the Financial Health Network has become a trusted authority on financial health, impacting millions of lives through its 160+ member organizations. Jennifer's expertise and thought leadership have gained recognition in national media and esteemed speaking engagements. About Sarah Newcomb: Sarah Newcomb, Ph.D., is a passionate leader in financial empowerment. As the Founder of THRIVE Financial Empowerment Center, she helps individuals leverage their resources for fulfilling lives. With a background in behavioral economics, Sarah integrates research into practical financial tools. Her expertise in consumer psychology, decision-making, and personal money management makes her a valuable expert. Sarah's own financial journey drives her to empower others through teachings and her book, LOADED. In this episode, Colin, Jennifer, and Sarah discuss:- The role of financial institutions in addressing the critical issue of people living paycheck to paycheck- Building trust and addressing financial challenges for diverse communities- Enhancing financial behavior through business-driven behavioral science- Advancing personalized financial journeys and improving financial education for allKey Takeaways:- The majority of Americans living paycheck to paycheck is a critical issue, and is driven by multiple factors, including low wages, and a financial system that has not moved everyday Americans into prosperity.- To address financial disparities, we must acknowledge the impact of racial and gender gaps on well-being, offer personalized solutions, and foster trust through transparency, reliability,,  and technology-driven approaches.- Financial institutions must prioritize the intersection of business and human needs, focusing on providing personalized support and education based on individuals' unique financial situations and goals, rather than pushing generalized products or services that may not address their immediate needs.- Technology offers the potential to create custom pathways and improve financial education, but it's crucial to focus on empowering individuals, addressing systemic issues, and building trust to help people manage their resources and achieve financial health.  "What people really need is a mirror. And when they can see it they will generally make good decisions for themselves, but often they just need someone to hold up that mirror and take them out of the moment that they're in. And I think technology holds tremendous promise in helping people to do that." — Jennifer Tescher  "I'm really excited about finding ways to make this vision that I have of a generation of empowered people who know how to use their resources to live lives they love and create a world that they want." — Sarah NewcombConnect with Jennifer Tescher:  Website: https://finhealthnetwork.org/Email: jtescher@finhealthnetwork.orgLinkedIn: https://www.linkedin.com/in/jennifertescher/Connect with Sarah Newcomb:  Website: https://www.thrive-financial.net/ Email: Sarah@Thrive-financial.netBook: https://www.amazon.com/Loaded-Psychology-without-Leaving-Values/dp/1119258324LinkedIn: https://www.linkedin.com/in/sarahcnewcomb/Twitter: https://twitter.com/finance_therapyConnect with Varo: Website- https://www.varomoney.com/Instagram- https://www.instagram.com/varobank/Twitter- https://twitter.com/varobankYouTube- https://www.youtube.com/varomoneyLinkedIn- https://www.linkedin.com/company/varobank/Audio production by Turnkey Pod
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