"Why Were We Never Taught This in School?"

According to a 2,000 person survey performed by Business Insider and Morning Consult, millennials and Gen X’ers are struggling financially and the stress is affecting relationships for both singles and couples. If you’re in battling school loan or credit card debt and not saving enough towards a home and/or retirement, you’re not alone.   So, what can you do?
 
Well, over the past decade, my goal, focus, and passion has been helping teens & young adults establish or regain control of their personal finances (income, debt, savings, retirement, housing, etc.).  You are a big part of why I am writing this blog.

And, if you're a parent, I encourage you to consider intentionally raising your own kids with practical personal finance know-how, tools, and entrepreneurial skills. I started with my kids when they were 7 years old and just made it part of their upbringing. You can read about it in some of the blog posts and on my Youtube channel. 

Katalytic Converter

I chose the word Katalytic for my business because I'd love to serve as a catalyst for you to increase your personal finance well-being.  And just as a car’s catalytic converter reduces toxic pollutants and controls emissions, the Katalytic Converter method, based largely on Dave Ramsey’s Baby Steps, helps people take control of their finances, reduce stress, and convert toxic situations into hopeful ones.  I am passionate about this, so if that’s what you’re after, you’re in the right place.

Besides being a certified Personal Finance coach, what sets me apart in the area of personal finance is that over the past decade, I have helped both young adults (high school/college/post-college) and older adults concurrently learn how to manage their personal finances through classes, coaching, and mentoring. What an eye opener!  Bright-eyed young adults just want to know what to do to get the engine started on their hopeful financial journey, while older adults are often mired in financial challenges and searching for that hope again. In working with both demographics, I realized that I could make a significant impact on the rising generations in terms of getting them started or re-started with a structured approach to gaining a strong financial foundation.

Establish a Firm Foundation

The basics of the Kataltyic Converter consist of how to save, budget, eradicate debt, control spending, and protect health, wealth, and assets with insurance.  Many of my young adult students ask me frustratedly, “Why were we never taught this in school?!”  As of 2015, only 5 states required students to take a financial literacy class in high school. As of July 2019, there are now 20 states have a financial literacy requirement for high schoolers. That’s a decent improvement, but there’s still quite a ways to go.  Since these are fairly new offerings, the majority, if not all, of millennials had no personal finance instruction in high school. 

I started teaching this to high school students in 2010, five years before it was mandatory in my state. I then created an online class in 2015, in order to reach more students, and I haven’t looked back! In fact, I'm retooling and updating that class to make it even better, to reach more people, and to have a greater impact.

I love to work with young adults, because once they catch the vision of saving for emergencies, following a budget (aka a cash flow plan), crushing debt, strategically setting aside money for retirement/college/house, and limiting risk with the right insurance, they often move determinedly through the steps it takes to have a sound financial foundation relatively quickly. Although most of my work with this age group is financial mentoring, I also provide guidance toward establishing a healthy mindset and habits from the start for a strong future. 

Regain Your Footing 
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Older adults often have greater challenges, which may require incremental mindset and behavioral shifts to help them regain their footing, gain traction, and stay on track for sustainable results. Perhaps they never had sound financial skills / interest / discipline in the first place. Or even if they did, things may have just gotten out of control. Oftentimes keeping control of their finances has been clouded by life, family, and financial responsibilities, which have taken a toll. This might include marriage and family challenges, making things even more difficult. 
 
This demographic often needs more personal coaching in terms of mindset, goals, new habits, and examining environmental factors, while also crunching numbers and working a plan. It can be done, but takes time, fortitude, and commitment.
 
Keep following me on this blog, as my focus is on Personal Finance Literacy for kids/teens/20s. As I continue work on my own resource called, "Raising a Financial Smarty Pants! (for Parents of kids 3-13)", I want to let you know about Funancial Freedom. I am an ambassador for them, and I highly recommend their free Ebook and free webinar to help your kids become financially smart!

Interested in Learning How To Empower YOUR Kids with Financial Literacy & Entrepreneurial Skills​?

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Disclaimer: This blog post provides personal finance educational information, and it is not intended to provide legal, financial, or tax advice.