WEBVTT - WUWY INTERVIEW: Priceless Conversations With Mastercard: Financial Literacy 0:00:03.440 --> 0:00:06.279 All right, his way up with Angela. Yee. I'm so excited. 0:00:07.080 --> 0:00:10.160 You know, this is part of our insolidarity initiative, and 0:00:10.240 --> 0:00:13.840 Massacard has been partnering with iHeart to produce these priceless 0:00:13.840 --> 0:00:19.360 conversations with me and we're bringing together thought leaders, financial experts, 0:00:19.440 --> 0:00:22.480 and business owners to sit down and kind of share 0:00:22.680 --> 0:00:26.480 your expertise and share your stories. And so we're talking 0:00:26.520 --> 0:00:30.200 today about the role that financial literacy plays in building 0:00:30.240 --> 0:00:33.880 and maintaining wealth and sustaining legacy in the black community. 0:00:34.880 --> 0:00:37.840 So today we have Nicole Turner, who is the Senior 0:00:37.880 --> 0:00:40.400 vice president of Technology Hubs at MasterCard. 0:00:40.920 --> 0:00:43.880 Welcome, Thank you, so excited to be here. 0:00:44.040 --> 0:00:46.360 I'm so happy to have you. And you know, just 0:00:46.440 --> 0:00:47.159 full disclosure. 0:00:47.200 --> 0:00:52.080 She's from Brooklyn, yes, and the house Tanya band Court, 0:00:52.400 --> 0:00:54.560 the founder and CEO of Goal Setter. 0:00:55.000 --> 0:00:56.760 Hey, thank you for having me, who. 0:00:56.640 --> 0:01:02.080 Travel from Brooklyn today straight from best And then you 0:01:02.080 --> 0:01:04.800 guys should all know Stacy Tisdale at this point. You 0:01:04.800 --> 0:01:08.360 know she's my co She is my co host for 0:01:08.440 --> 0:01:11.240 Wealth Wednesdays, but also the CEO of My Money Media. 0:01:11.520 --> 0:01:16.120 She's a financial expert, author and broadcast journalist. Hello, Stacy, Angela, 0:01:16.400 --> 0:01:18.559 how's everybody feeling today because we always got to start 0:01:18.560 --> 0:01:18.760 with that. 0:01:19.280 --> 0:01:22.759 I'm feeling excited, empowered, I'm ready to rock and roll. 0:01:22.920 --> 0:01:26.120 Yeah, I mean, the pre conversation was amazing, just talking 0:01:26.160 --> 0:01:29.640 about different goals, finances, being patient. 0:01:30.680 --> 0:01:33.800 But Nicole, let's start with you. As we're doing this conversation. 0:01:33.959 --> 0:01:36.680 Financial inclusion is one of the key pillars of Mastercard's 0:01:36.720 --> 0:01:41.000 social impact strategy and in solidarity efforts. Can you talk 0:01:41.040 --> 0:01:45.240 more about Mastercard's commitment to financial inclusion and also we 0:01:45.280 --> 0:01:47.680 always talk about the tangibles the programs that you have 0:01:47.760 --> 0:01:48.800 that supported sure. 0:01:48.840 --> 0:01:51.720 Of course, when I think about MasterCard and the commitment 0:01:51.760 --> 0:01:54.920 that we have to try to close the racial equity gap, 0:01:55.200 --> 0:01:57.720 tell me it's been something that's been important that we've 0:01:57.760 --> 0:01:59.960 been doing for a long time. I love the fact 0:01:59.960 --> 0:02:02.040 that not only do we talk it, but we walk it. 0:02:02.120 --> 0:02:05.120 We understand that in order for us to be successful 0:02:05.160 --> 0:02:07.520 in our business and what we do, closing that gap 0:02:07.680 --> 0:02:10.720 is equally important, especially when it comes to financial inclusion 0:02:10.800 --> 0:02:14.840 and financial literacy holistically. And so when we think about 0:02:14.880 --> 0:02:16.800 the programs that we have and some of the partners, 0:02:16.840 --> 0:02:19.680 and we'll talk later with my friend that's here from 0:02:19.720 --> 0:02:23.399 Goal Setter, we understand and by supporting and working with 0:02:24.000 --> 0:02:27.400 these partners, not only do they help us continue and 0:02:27.480 --> 0:02:30.480 improve the digital divide that we need to say how 0:02:30.480 --> 0:02:32.920 do we close it? But then also how do we 0:02:32.960 --> 0:02:35.200 make inclusive products in order for us to do this 0:02:35.320 --> 0:02:35.680 as well? 0:02:36.240 --> 0:02:38.359 And you know, I just want to put this out 0:02:38.360 --> 0:02:40.720 there first too, Nicole, just your background and how you 0:02:40.760 --> 0:02:43.280 got to Masteracre, because I love for people to know 0:02:43.840 --> 0:02:46.080 how everybody got to where they are today as well 0:02:46.320 --> 0:02:46.919 in this space. 0:02:47.120 --> 0:02:50.320 Yes, so before I join MasterCard, I used to open 0:02:50.400 --> 0:02:54.560 up healthcare facilities and long term care facilities in underrepresented 0:02:54.639 --> 0:02:57.880 communities in Bushwick, Brooklyn and in the Bronx. And it 0:02:57.960 --> 0:03:01.280 was important that the agency that I work with at 0:03:01.320 --> 0:03:03.239 the time said, you know what, we're looking to put 0:03:03.240 --> 0:03:05.760 three and four hundred jobs in the communities. We realize 0:03:05.760 --> 0:03:07.920 that there's a change that's happening. But in order to 0:03:07.960 --> 0:03:11.399 do that, use your HR background to hire people from 0:03:11.400 --> 0:03:15.040 the community and upskill them. In order when you upskill them, 0:03:15.120 --> 0:03:18.440 not only do you help the economic community, but you 0:03:18.480 --> 0:03:20.240 also help the real estate. And at that time, they 0:03:20.240 --> 0:03:22.360 were doing a lot of programs from a low income 0:03:22.400 --> 0:03:25.240 housing perspective. This company I was working with, so not 0:03:25.280 --> 0:03:27.560 only were we bringing jobs, we also was giving them 0:03:27.760 --> 0:03:29.040 mortgage grants as well. 0:03:29.320 --> 0:03:31.320 I think it's important to know all of those things 0:03:31.360 --> 0:03:34.240 because we do care about the people who are behind 0:03:34.280 --> 0:03:37.440 these programs. And so when we're talking about MasterCard, just 0:03:37.480 --> 0:03:40.400 to see how much you care about the community outside 0:03:40.440 --> 0:03:42.640 of this and what got you here today. So thank 0:03:42.640 --> 0:03:44.840 you for sharing that, Tanya. 0:03:44.920 --> 0:03:47.840 Let's move on to you. Let's talk about goal Setter. 0:03:47.920 --> 0:03:50.920 What goal Setter is the need that you saw specifically 0:03:50.920 --> 0:03:54.320 in the black community, and how goal Setter is helping 0:03:54.360 --> 0:03:56.560 to close the wealth gap as well. 0:03:56.840 --> 0:04:00.480 Absolutely so. Goal Setter is a family find nan and 0:04:00.560 --> 0:04:03.840 financial education platform. So for any of your listeners out 0:04:03.880 --> 0:04:06.640 there who may have a kid's debit card for their kid, 0:04:07.320 --> 0:04:10.320 goal Setter allows your kid to have a debit card, 0:04:10.560 --> 0:04:13.680 but to have that debit card with financial education. And 0:04:13.720 --> 0:04:16.800 I'll tell you why. My mother was an elementary school teacher. 0:04:17.279 --> 0:04:21.240 I did everything in my house that had everything to 0:04:21.240 --> 0:04:22.840 do with education, right. You know how it is when 0:04:22.839 --> 0:04:24.520 you live in the house with the teacher, right, everything 0:04:24.520 --> 0:04:33.040 you do is like accounted, like everything is. So because 0:04:33.080 --> 0:04:35.040 of her, I ended up going to Stanford. I got 0:04:35.040 --> 0:04:37.800 two degrees in engineering, so on a great track from 0:04:37.800 --> 0:04:39.919 an educational perspective. But I came out of Stanford and 0:04:39.920 --> 0:04:41.840 there's one thing I didn't know about. I didn't know 0:04:41.880 --> 0:04:44.679 about money because my mama didn't teach me about money 0:04:44.680 --> 0:04:46.960 because she didn't know about money. So I'm in my 0:04:47.040 --> 0:04:49.680 late twenties. I have a job in Silicon Valley. At 0:04:49.680 --> 0:04:51.400 that job, they give me a bunch of stock and 0:04:51.440 --> 0:04:55.200 stock options, and I don't know about diversification or asset allocation, 0:04:55.480 --> 0:04:57.200 so I just leave it there. I picked my head 0:04:57.279 --> 0:04:59.400 up one day that stock is worth a million dollars. 0:05:00.160 --> 0:05:01.840 That was at the beginning of the day. Because by 0:05:01.839 --> 0:05:03.599 the end of the day, the big tech bubble had 0:05:03.640 --> 0:05:05.880 burst and my million dollars went down to twenty thousand 0:05:05.920 --> 0:05:07.039 dollars in one day. 0:05:07.600 --> 0:05:09.760 That's what I said to my million, to. 0:05:10.800 --> 0:05:11.839 See, I. 0:05:14.320 --> 0:05:15.119 Understand stuff. 0:05:16.240 --> 0:05:19.400 You don't understand options, you don't understand vesting, and that 0:05:19.440 --> 0:05:21.640 you could sell them, and that you could diversify. So 0:05:21.839 --> 0:05:24.800 in that moment, I thought, Okay, this was stupid, but 0:05:24.839 --> 0:05:26.680 I can't turn back the hands of time. All I 0:05:26.680 --> 0:05:28.320 can do is make sure this doesn't happen to my 0:05:28.360 --> 0:05:32.279 own children. Fast forward, when I actually had my daughter, Gabrielle, 0:05:32.320 --> 0:05:34.799 I taught her everything I had since learned about personal 0:05:34.839 --> 0:05:37.479 finance from the time she came out of my womb. 0:05:37.920 --> 0:05:39.920 And when she was eight, about to turn nine, she said, Mommy, 0:05:39.960 --> 0:05:41.839 for my ninth birthday, I really only want two things. 0:05:41.880 --> 0:05:44.240 I said, what's that? She said, enough money to say 0:05:44.279 --> 0:05:50.200 for an investment account? Wow, and a bike. Thought at 0:05:50.240 --> 0:05:54.680 that age, if I could get every child, you say that, 0:05:55.200 --> 0:05:57.120 I can change the world. And so that's what Goal 0:05:57.160 --> 0:06:01.120 Setter is. We provide, not us a debit card for 0:06:01.160 --> 0:06:04.880 your kids, because let's be honest, America teaches kids from 0:06:04.920 --> 0:06:07.400 the time that they are born how to send and 0:06:07.560 --> 0:06:09.520 spend money. We can go to kids now and say, 0:06:09.560 --> 0:06:10.880 how many of you have cashp how many of you 0:06:10.880 --> 0:06:14.000 have themo how many of you have sending and spending mechanisms? 0:06:14.040 --> 0:06:16.599 And they do and they do. Excuse me, how many 0:06:16.640 --> 0:06:18.800 of you know about investment accounts? How many of you 0:06:18.839 --> 0:06:20.240 know what a bond is? How many of you know 0:06:20.279 --> 0:06:22.400 what a stock is? And they don't. And so that's 0:06:22.440 --> 0:06:24.800 what we do at Goal Setter. Our debit card actually 0:06:24.839 --> 0:06:27.400 comes with a rule called learn before you burn, so 0:06:27.440 --> 0:06:30.280 your kids debit card will automatically freeze on Sunday morning 0:06:30.320 --> 0:06:32.760 if they haven't taken their financial literacy queens for the weekend. 0:06:32.880 --> 0:06:34.880 Oh I like that for me. 0:06:38.160 --> 0:06:40.080 And while you were talking about all of those things, 0:06:40.160 --> 0:06:44.000 I was thinking about, like me not having financial literacy 0:06:44.040 --> 0:06:46.360 when I was younger, and when I got my first 0:06:46.400 --> 0:06:49.000 bank account. And before we get to you, Stacey, do 0:06:49.040 --> 0:06:51.159 you guys all remember when you got your first ever 0:06:51.200 --> 0:06:51.839 bank account? 0:06:52.160 --> 0:06:52.760 Absolutely? 0:06:53.360 --> 0:06:55.760 I do. I remember it was I was so proud 0:06:56.000 --> 0:06:58.599 at the time. There was a program. I was going 0:06:58.600 --> 0:07:00.920 to school in East New York, but my mother had 0:07:00.960 --> 0:07:02.960 busted me to a school in Meal Base Shoes PS. 0:07:02.960 --> 0:07:04.599 Two thirty six, and what they did was they had 0:07:04.680 --> 0:07:08.120 given us they set up bank accounts for us. At 0:07:08.120 --> 0:07:10.280 that time, I felt so proud just to have a 0:07:10.280 --> 0:07:12.400 couple of five dollars or something that was in it. 0:07:12.400 --> 0:07:15.080 It gave me a sense of pride to open up 0:07:15.120 --> 0:07:17.560 my first bank account. I remember those days. 0:07:17.280 --> 0:07:20.000 Absolutely, and I remember getting my first bank account because 0:07:20.000 --> 0:07:21.520 then I was like, oh, now I can get a job, 0:07:21.560 --> 0:07:23.120 so I can put some money in that bank account. 0:07:23.240 --> 0:07:23.400 Right. 0:07:23.600 --> 0:07:27.600 You associate a bank account with wealth and money, and 0:07:27.680 --> 0:07:30.520 that gives you the motivation. But you know, a bank 0:07:30.560 --> 0:07:33.680 account and investing are two different things, and that is 0:07:33.760 --> 0:07:37.320 what our community is lacking right now understanding of how 0:07:37.320 --> 0:07:40.560 to build wealth, not just how to make money exactly. 0:07:40.800 --> 0:07:42.440 Well, now, Stacey, let's get to you. 0:07:42.320 --> 0:07:45.120 And you remember your first time opening because that was 0:07:45.160 --> 0:07:48.760 my first foray into anything financial, like having a bank account, 0:07:48.800 --> 0:07:51.680 and it wasn't until I was in high school. And 0:07:51.760 --> 0:07:53.600 so that's why I remember it so well. I think 0:07:53.640 --> 0:07:57.360 I was like a junior in high school and I 0:07:57.360 --> 0:08:00.280 didn't have much in there. But imagine not even having 0:08:00.280 --> 0:08:02.080 that then, how was I going to be able to 0:08:02.280 --> 0:08:04.520 invest anything or learn about it? And so that was 0:08:05.160 --> 0:08:08.280 quite a journey for me. Yeah, and so Stacy, now 0:08:08.360 --> 0:08:08.920 let's get. 0:08:09.000 --> 0:08:10.760 Over here to you. 0:08:10.760 --> 0:08:12.680 You know, this is my girl, Stacy, so I can't 0:08:12.720 --> 0:08:15.800 assume that everybody knows everything about her. But in your 0:08:15.840 --> 0:08:19.280 work you've talked about financial behaviors developing at an early age, 0:08:19.280 --> 0:08:23.560 how messages from society impact our financial choices. Can you 0:08:23.600 --> 0:08:26.360 share some more insight about this and also some of 0:08:26.360 --> 0:08:29.680 the barriers that exist, particularly in the black community, and 0:08:29.880 --> 0:08:32.920 also because we like to be you know, just always 0:08:32.920 --> 0:08:35.200 think about solution tips on how to overcome them. 0:08:35.559 --> 0:08:39.000 Absolutely, and I think all of the questions you just 0:08:39.120 --> 0:08:42.240 answered are in my story. So I'll share my story 0:08:42.320 --> 0:08:47.199 just as you ladies have a big AHA moment for 0:08:47.320 --> 0:08:49.040 me when it came to money was when I was 0:08:49.040 --> 0:08:52.320 in college and a friend of mine's father worked for 0:08:52.440 --> 0:08:55.680 a brokerage company called pain Weber. That will really date me, 0:08:56.480 --> 0:08:58.800 and we walked into he was going to take us 0:08:58.800 --> 0:09:01.160 out to lunch one day, and I'd never been around 0:09:01.440 --> 0:09:04.199 Wall Street or anything like that, and we walked into 0:09:04.280 --> 0:09:07.600 his office and I saw my first trading floor and 0:09:07.679 --> 0:09:11.000 I was like, I have never seen anything like this before, 0:09:11.040 --> 0:09:13.200 and it was an incredible experience. I went back. I 0:09:13.280 --> 0:09:17.400 changed my major to business right away intern there. Got 0:09:18.000 --> 0:09:20.440 a job right out of college at a commodities firm, 0:09:20.480 --> 0:09:22.120 and I was a cash manager and invested in the 0:09:22.160 --> 0:09:26.200 treasury markets, so I really learned how the economy worked 0:09:26.520 --> 0:09:29.880 and how the markets work within economy. Didn't want to 0:09:29.880 --> 0:09:32.920 stay on Wall Street. Came out of the womb loving writing, 0:09:33.720 --> 0:09:36.000 and I called the Wall Street Journal and I said, 0:09:36.000 --> 0:09:38.679 I know finance, I love writing, and they actually bought 0:09:38.679 --> 0:09:42.559 that story and they hired me and I started at 0:09:42.559 --> 0:09:46.320 their newswire service. Eventually moved to their television department and 0:09:46.320 --> 0:09:51.840 I was there for seven years, and it was just 0:09:51.960 --> 0:09:55.440 wonderful to see now I've seen the corporate side of money. 0:09:55.840 --> 0:09:59.400 So CBS was starting a business news division called market Watch, 0:09:59.600 --> 0:10:01.800 and I got hired to be their first on air reporter, 0:10:02.440 --> 0:10:05.360 and that was a journalist's dream because I had to 0:10:05.360 --> 0:10:08.440 do every single CBS show, from morning news to evening news, 0:10:08.520 --> 0:10:11.640 everything in between radio and that really brought me to 0:10:11.720 --> 0:10:15.600 Main Street. I was at CBS for many years, and 0:10:15.640 --> 0:10:20.800 then I went to CNN Global and I was really 0:10:20.880 --> 0:10:24.200 starting to have a lot of conflict about being a 0:10:24.200 --> 0:10:27.760 financial journalist, about doing this the information we were putting out, 0:10:28.240 --> 0:10:30.600 and from working on Wall Street, because I could see 0:10:30.640 --> 0:10:36.120 that knowledge does not translate into behavior, and especially all 0:10:36.160 --> 0:10:38.480 the big financial gurus at the time, I'm not going 0:10:38.520 --> 0:10:42.880 to name any names, but really kind of making us 0:10:42.960 --> 0:10:46.520 feel bad. You're supposed to put this amount into retirement, 0:10:46.600 --> 0:10:48.360 You're supposed to do this, and I could see people 0:10:48.400 --> 0:10:52.000 can't do that, they don't do that, So why aren't 0:10:52.480 --> 0:10:55.440 we doing that? And I thought it was kind of 0:10:55.440 --> 0:10:58.240 a failure by the financial services industry and the financial 0:10:58.280 --> 0:11:02.360 media the way they were giving financial advice journalists, and 0:11:02.480 --> 0:11:04.679 we had to know why why do we do what 0:11:04.679 --> 0:11:06.120 we do when it comes with money? And I went 0:11:06.160 --> 0:11:07.520 on what I had no idea was going to be 0:11:07.559 --> 0:11:10.680 a six year research project into what drives financial behavior. 0:11:11.679 --> 0:11:14.360 Because of my career, I had access to the greatest 0:11:14.440 --> 0:11:19.640 minds in the world. Psychologists don't remember Clinton Gore's addiction specialists, 0:11:19.640 --> 0:11:24.000 because that's financial behavior. Everything for my research problem became 0:11:24.120 --> 0:11:26.880 very clear. When we have trouble with money, we go 0:11:26.960 --> 0:11:29.439 straight to the numbers. I got to earn more, save more, 0:11:29.480 --> 0:11:32.840 invest more. The real causes of our financial behavior have 0:11:32.920 --> 0:11:36.560 got absolutely nothing to do with numbers. We make our 0:11:36.679 --> 0:11:39.960 choices based on our beliefs, and our beliefs are the 0:11:40.000 --> 0:11:42.240 result of things that have nothing to do with money. 0:11:42.640 --> 0:11:48.360 How we saw it handled growing up, social messages to 0:11:48.400 --> 0:11:56.040 live a certain lifestyle, have certain things, or you're not whatever, gender, culture, race, 0:11:56.600 --> 0:12:00.480 all of these former beliefs about ourselves, and that's drives 0:12:00.480 --> 0:12:04.960 our financial choices. So the dance becomes teaching people how 0:12:05.000 --> 0:12:09.440 to manage those choices, to become aware of what's really 0:12:09.480 --> 0:12:12.319 pushing their buttons, so that at that moment they can say, oh, 0:12:12.320 --> 0:12:14.680 I can make a different choice. So I wrote a 0:12:14.679 --> 0:12:17.760 book about that, and it came out in two thousand 0:12:17.760 --> 0:12:19.840 and eight, and I hate to say it was good timing. 0:12:19.880 --> 0:12:23.400 But it was a huge recession and a very emotional recession. 0:12:24.440 --> 0:12:27.280 And I started my book tour on the Today Show, 0:12:27.600 --> 0:12:30.240 and really, I think it just really resonated for people 0:12:30.280 --> 0:12:33.000 to hear about money spoken in that way. So that 0:12:33.360 --> 0:12:37.080 appearance turned into a three year gig. A lot of 0:12:37.080 --> 0:12:40.480 people watch that show. So the White House contacted me 0:12:40.559 --> 0:12:43.840 and asked me to create a behavior based financial education 0:12:44.000 --> 0:12:49.200 system based on this holistic approach to money. Did that 0:12:49.720 --> 0:12:54.200 and then went on to create my own financial education program. 0:12:54.600 --> 0:13:02.719 My journalism career continued PBS Black and Enterprise, and one 0:13:02.760 --> 0:13:06.320 of my jobs right when I left Black Enterprises start 0:13:06.360 --> 0:13:11.240 my own company, a show called The Breakfast Club asked 0:13:11.280 --> 0:13:14.040 me to come on and talk about blacks and investing 0:13:15.320 --> 0:13:18.240 and what I had seen. And I'll just never forget 0:13:18.240 --> 0:13:22.760 this from the first time President Obama ran when it 0:13:22.760 --> 0:13:25.120 became clear he was going to win. In the weeks 0:13:25.160 --> 0:13:30.080 before his presidency, the number of Blacks going to sign 0:13:30.200 --> 0:13:33.000 up for financial literacy courses, going to sign up for 0:13:33.240 --> 0:13:38.920 entrepreneurship courses, going to sign up for advice ten thousand tupled. 0:13:39.360 --> 0:13:41.880 So I love his saying the audacity of hope. So 0:13:42.000 --> 0:13:46.360 the X factor was actually the hope and I remember 0:13:46.800 --> 0:13:48.839 my first segment I did with Angela, and I was 0:13:48.880 --> 0:13:51.440 talking about the mentality and the Black community that you 0:13:51.559 --> 0:13:55.160 need to be rich to invest. Totally understand where that 0:13:55.200 --> 0:13:58.520 comes from, and totally understand why we don't trust the 0:13:58.559 --> 0:14:01.680 financial markets. Though our story is told wrong and we 0:14:01.720 --> 0:14:06.640 are an incredible story of resilience. But now technology fintech 0:14:07.480 --> 0:14:11.040 is providing solutions that the government failed to and it 0:14:11.200 --> 0:14:15.160 guess what, it takes out that discrimination piece and now 0:14:15.200 --> 0:14:20.520 it's micro investing was created and now it's investing is 0:14:20.560 --> 0:14:24.840 accessible to everyone. I mentioned one company's name in that interview, 0:14:24.840 --> 0:14:28.480 and I'm not saying that company now, but while I 0:14:28.520 --> 0:14:31.680 was in that interview, four million people signed up for 0:14:31.760 --> 0:14:35.960 that company's app amazing, and then we saw our community 0:14:36.040 --> 0:14:39.440 does have an appetite for this type of information and 0:14:39.520 --> 0:14:43.400 they're hungry for it. And talk we're always told as 0:14:43.600 --> 0:14:46.040 lax and at the bottom. Talk to us from our 0:14:46.080 --> 0:14:49.760 position of power, help us make empowered financial decisions. And 0:14:50.920 --> 0:14:53.480 that's that's where the work has to go. So a 0:14:53.560 --> 0:14:57.680 holistic approach, you know people talk about behavioral finance or 0:14:57.720 --> 0:15:00.920 holistic approach, is like there's something different. That's the only 0:15:00.960 --> 0:15:03.240 way to learn about money you have to work on 0:15:03.320 --> 0:15:07.600 mindset and help people remember how strong they really are. 0:15:07.560 --> 0:15:12.920 And go to trusted companies for companies. Yeah, and also 0:15:13.120 --> 0:15:15.200 because you know, it's there's so many people out there 0:15:15.200 --> 0:15:19.880 that call themselves gurus and listen, That's why it's so 0:15:19.920 --> 0:15:23.720 important to have these platforms here where Mastercard's been doing 0:15:23.720 --> 0:15:25.720 this work. And so we're going to get to that 0:15:26.080 --> 0:15:29.040 and thank you Stacy in a second. But Tanya, I 0:15:29.080 --> 0:15:32.920 want you to talk about your partnership with MasterCard over 0:15:32.920 --> 0:15:35.800 the years and more specifically the programming that you are 0:15:35.840 --> 0:15:38.240 doing and activating with HBCU students. 0:15:38.400 --> 0:15:39.040 Absolutely. 0:15:39.360 --> 0:15:39.520 Well. 0:15:39.520 --> 0:15:43.360 The thing I love about MasterCard is that MasterCard is 0:15:43.480 --> 0:15:46.680 really focused on you know, through their Center for Inclusive Growth, 0:15:46.920 --> 0:15:50.240 they are focused on inclusivity. How do you include more 0:15:50.320 --> 0:15:54.560 people in the conversation and include more people in wealth 0:15:54.600 --> 0:15:57.120 building in ways that meet them where they are. To 0:15:57.160 --> 0:16:00.080 the point that Stacy just made right, I know that 0:16:00.000 --> 0:16:02.800 that they're folks sitting in classrooms across America where some 0:16:02.960 --> 0:16:06.000 banker comes across the street and is teaching them about 0:16:06.000 --> 0:16:09.040 the stock market, but that banker is thirty years older 0:16:09.040 --> 0:16:12.000 than them, doesn't speak their language, doesn't come from their community, 0:16:12.120 --> 0:16:14.640 and all of those kids have their heads down on 0:16:14.680 --> 0:16:17.000 their desk and are falling asleep. It's not because they 0:16:17.000 --> 0:16:18.880 can't learn, it's because the teacher can't teach. 0:16:19.280 --> 0:16:21.560 And so, you know what they can relate. 0:16:21.440 --> 0:16:25.040 They can't relate absolutely, and sometimes they can't relate to 0:16:25.080 --> 0:16:28.280 the stories. They can't relate to the you know, to 0:16:28.360 --> 0:16:32.520 the examples of what investing means or what investing will 0:16:32.520 --> 0:16:34.760 bring you and your family and your community. So all 0:16:34.800 --> 0:16:37.840 of that relatability is really important. All of that is 0:16:37.880 --> 0:16:40.920 to say, with MasterCard, we have just recently launched a 0:16:40.960 --> 0:16:46.200 financial freedom project with the HBCUs in the Atlanta area 0:16:46.400 --> 0:16:49.880 and so Morehouse Spelman Clark Atlanta. We have brought to 0:16:49.920 --> 0:16:53.480 them this Financial Freedom boot Camp. So it's ten sessions 0:16:53.760 --> 0:16:56.360 where we are for twenty to thirty minutes in every 0:16:56.360 --> 0:17:00.400 single session talking about a different financial concept that is 0:17:00.440 --> 0:17:02.520 the core of wealth building and that people need to 0:17:02.520 --> 0:17:03.680 know in order to build wealth. 0:17:03.760 --> 0:17:03.920 Right. 0:17:04.240 --> 0:17:07.920 We just kicked off last week incredibly exciting, had all 0:17:07.960 --> 0:17:11.160 these amazing AUC students in the room, and we start 0:17:11.160 --> 0:17:13.080 with questions like who knows what the rule of seventy 0:17:13.080 --> 0:17:16.800 two is? Nobody's raising their hand and that's okay because 0:17:16.840 --> 0:17:19.120 we're now about to share it with you. The rule 0:17:19.160 --> 0:17:21.600 of seventy two teaches you how fast your money will 0:17:21.640 --> 0:17:24.480 double based on where you invest it. And so now 0:17:24.520 --> 0:17:28.080 after that twenty minute session, everyone says, wow, okay, So 0:17:28.240 --> 0:17:30.399 I just can't stick my money under a mattress or 0:17:30.400 --> 0:17:32.360 in a savings account that's going to yield me zero 0:17:32.359 --> 0:17:35.399 point one percent interest. I need to do something better, 0:17:35.440 --> 0:17:38.679 So click, I got that right. Then in the second 0:17:38.680 --> 0:17:40.760 session we talk about okay, great, now you know you 0:17:40.840 --> 0:17:43.400 need to do better. How do you do better? Where 0:17:43.400 --> 0:17:45.040 can you put your money where your money will have 0:17:45.040 --> 0:17:48.280 an opportunity to grow at seven percent per year for 0:17:48.280 --> 0:17:50.840 the next thirty years. Oh well, that's something called the 0:17:50.920 --> 0:17:53.280 stock market. But I don't have to be a stock picker. 0:17:53.320 --> 0:17:56.879 I can learn about ETFs and mutual funds and index funds. 0:17:57.000 --> 0:17:59.040 So then we introduce that language and we tell them 0:17:59.040 --> 0:18:01.840 about that language. The reason all of this is so 0:18:01.960 --> 0:18:04.800 important is because we all know if you don't know 0:18:04.840 --> 0:18:08.200 the language of money, then anybody can sell you anything 0:18:08.280 --> 0:18:12.000 because you feel ashamed about not understanding the concepts, and 0:18:12.040 --> 0:18:14.240 you just sit there and do what we all do. Right, 0:18:14.280 --> 0:18:17.119 You go into the mortgage loan place and you just nod. 0:18:17.520 --> 0:18:19.879 They may have a really bad interest rate on that 0:18:19.920 --> 0:18:22.600 piece of paper, but you don't know what good is. 0:18:22.880 --> 0:18:25.439 And so we're teaching them the language of money, and 0:18:25.440 --> 0:18:28.080 we're also giving them the goal setter app. MasterCard is 0:18:28.080 --> 0:18:31.480 putting one hundred dollars onto these students' accounts so that 0:18:32.080 --> 0:18:35.560 before they graduate they can be savers and investors. We 0:18:35.640 --> 0:18:39.600 are turning the next generation of AUC students from senders 0:18:39.600 --> 0:18:42.600 and spenders into savers and investors and giving them both 0:18:42.640 --> 0:18:45.040 the tools so that they can start investing and the 0:18:45.200 --> 0:18:46.439 knowledge to do so. 0:18:47.040 --> 0:18:47.240 Oh. 0:18:47.280 --> 0:18:49.720 I love that the confidence that comes with being able 0:18:49.760 --> 0:18:52.639 to know that you have that information too. I'm just 0:18:52.720 --> 0:18:54.560 now flashing back to the first time I had to 0:18:54.560 --> 0:18:58.439 do a mortgage and what that process was like for me. Absolutely, 0:18:59.440 --> 0:19:01.080 you're confident I did on but I did on my 0:19:01.119 --> 0:19:02.120 research ahead of time. 0:19:02.240 --> 0:19:04.720 So it's interesting and I'm glad you said that you 0:19:04.720 --> 0:19:06.720 did your research because I didn't. So when you said, 0:19:06.760 --> 0:19:09.119 you know, it wasn't until you got older that you realized, Okay, 0:19:09.480 --> 0:19:12.640 how do I understand about numbers and financing? We were 0:19:12.640 --> 0:19:16.000 talking before. I wish I had this goal than when 0:19:16.000 --> 0:19:19.160 I was younger, right, because growing up I wasn't taught that. 0:19:19.160 --> 0:19:21.680 That wasn't the behavior in my family for us to 0:19:21.720 --> 0:19:24.080 sit down at dinner to have those conversations and say, 0:19:24.160 --> 0:19:26.480 let's talk about savings, let's talk about investing. 0:19:27.000 --> 0:19:28.720 We didn't talk about money in my house, no, not 0:19:28.760 --> 0:19:29.000 at all. 0:19:29.040 --> 0:19:31.600 It was like, don't open those bills because we can't 0:19:31.600 --> 0:19:34.240 do it. It was my mom my dad being like, 0:19:34.280 --> 0:19:36.680 your mother spends all the money, and then my mom 0:19:36.760 --> 0:19:39.280 hiding packages so that he wouldn't see her going shopping 0:19:39.320 --> 0:19:40.320 and bringing them in the house. 0:19:40.359 --> 0:19:43.520 It was all that and then those early impressions that's 0:19:43.560 --> 0:19:45.840 I mean, that's what sets how you hand no money. 0:19:45.880 --> 0:19:47.800 I remember my mother hiding stuff in the trunk, so 0:19:47.920 --> 0:19:50.160 my father and so you. 0:19:50.119 --> 0:19:52.159 Grew up the house. 0:19:56.320 --> 0:19:58.239 And well was interesting for me. I grew up as 0:19:58.280 --> 0:20:01.359 a figure skater, I lived away from my parents and 0:20:01.440 --> 0:20:05.119 an athlete, and I always had that messaging you just 0:20:05.119 --> 0:20:07.600 worry about what you're doing. We'll worry about the money. 0:20:07.640 --> 0:20:09.480 You just worry about what you're doing. We'll worry about 0:20:09.480 --> 0:20:11.760 the money. And as I got into my work and 0:20:11.800 --> 0:20:15.280 I was like, oh, and I said, even in my 0:20:15.320 --> 0:20:17.919