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Changing the Face of Financial Education with Sarah Newcomb
Manage episode 374326427 series 3383539
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Sarah Newcomb is an applied scientist, behavioral economist, and the Founder of the Thrive Financial Empowerment Center. Her work bridges the gap between research and practice, adapting the findings of academic research for practical use in personal financial management.
In this episode, Sarah shares her own personal story and how it led to her current work - exploring the connection between mental and financial health, particularly among our youth. We discuss the need for empowerment-based and trauma-informed financial education and how understanding the psychology behind behaviors leads to both understanding and empathy. And she shares some practical insights on the things financial counselors, coaches, and advisors can do to give their clients agency.
Show Notes:
1:22 Sarah's money story
7:14 Utilizing academic findings for practical use
9:39 Young people and their mental + financial health
14:45 Empowerment-based financial education
23:58 Moving away from the contamination narrative to a redemptive one (and what that means)
27:47 Sarah's new financial empowerment content
30:28 Sarah's final 2 cents
Show Note Links:
Statistics:
- CDC Youth Risk Behavior Risk Behavior Survey
- Frontiers in Public Health
- The Deloitte Global 2022 Gen Z and Millennial Survey
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