1:00

My guest today is Vince Shoreb . He's

1:03

one of the late country's leading advocates

1:05

for promoting financial wellness and

1:07

a thought leader in teaching and scaling financial

1:09

education programming . After spending

1:11

15 years in financial services , working

1:14

one-on-one with more than 20,000 people , he

1:16

founded the National Financial Educators

1:18

Council , an organization dedicated

1:21

to combating financial illiteracy

1:23

epidemic . He is a current CEO

1:26

of the NFEC

1:29

and IACET

1:31

, a credit company and a certified

1:34

B Corporation

1:36

. Vince's mission is to create a world

1:38

where people are informed to make qualified

1:40

financial decisions and

1:42

confidently take effective financial action

1:45

that best helps them meet their basic

1:47

human needs , while moving toward fulfilling

1:50

their personal , family and global community

1:52

goals . He has

1:54

led the NFEC

1:57

in the development of 2,500 financial

1:59

education programs and more

2:01

than 80 financial literacy assets

2:03

and financial education standards that

2:06

guide the industry . His focus

2:08

is on mobilizing and developing of community

2:10

champions and empowering them with

2:12

the resources , knowledge and processes

2:14

they need to help their community

2:16

citizens work toward financial

2:18

self-sufficiency and security . You

2:21

are welcome , vince , to the podcast . Well

2:26

, it's so good to have Vince on the show today , dave

2:28

.

2:28

Good , how about you , keith ?

2:30

I'm doing great Good to talk to you .

2:32

Likewise , likewise .

2:34

I'd love to ask my guest this question what is the best

2:36

piece of advice you've ever received ?

2:39

I think the best piece really is leaving the world a better

2:41

place when you came in . Fundamentally

2:44

, it's the core of the business , I

2:47

think , not even thinking about the end of life

2:49

, even if you're staying at a place

2:51

, leaving it better than when you arrived . I think

2:53

it just shows an amount of respect for the people

2:56

, for the community , and

2:58

keeps me motivated to keep trying to enhance

3:01

what I'm doing in the financial , education , financial

3:03

wellness space , which is empowering

3:05

people , because I know if I can empower

3:07

people financially , then they

3:09

can take that same motive that I

3:11

have to heart and maybe leave their

3:14

community the better place as well .

3:17

That's a great goal because we have so many people

3:19

who are in spaces

3:21

or locked in situations . I served congregations

3:25

in Detroit and inner city , st Louis

3:27

and Milwaukee . The

3:29

one thing I discovered in working in those

3:32

communities was there just wasn't

3:34

the people pouring

3:36

into them just kind of telling you how do you do the simple

3:38

things to make sure that you make the most

3:41

of your dollars , that you're always putting money aside

3:43

, that you're planning for a rainy day , that

3:45

you're investing when you can , just

3:48

the small things . Like I said , if you did $25

3:51

a month when you were younger , by now

3:53

you'd have a million dollars or so Just

3:56

that idea of teaching people how

3:58

to make the best use of the gifts that

4:00

God has given them .

4:02

I think , a little bit of hope , like the teaching

4:04

them compound interest . A lot of people don't feel

4:06

like they can ever break the cycle of poverty

4:08

Just by illustrating hey , here's

4:10

what compounding interest can do . A

4:13

lot of people assume , hey , you need to start with hundreds

4:15

of thousands of dollars or be multi

4:18

generations of wealth passed down . The

4:20

reality is high school is a great equalizer

4:23

. The ability to focus

4:25

on a small amount of savings when you're

4:27

young , I think , is a

4:29

great thing for giving people hope for

4:31

the future . That's awesome . One of the lessons

4:33

we're trying to share with you is hey , there's

4:36

potential , there's opportunity . Let's

4:38

get you focus on finding that career

4:40

that's important to you , avoiding a lot

4:42

of that college debt , having

4:46

a plan and the hope behind that plan because if

4:49

you don't have hope behind a plan

4:52

, you're not going to accomplish that . But if there's hope and

4:54

details , I think people are much better

4:56

suited to reach that in line .

4:59

Exactly . I love to ask people

5:01

like yourself who've achieved a certain level

5:03

of success to take a

5:06

step back and think about the people in your

5:08

life who have come alongside

5:10

you along the way . This is your chance

5:12

to give those people , if you haven't , a shout

5:14

out , to just say thank you for being

5:16

there , for inspiring me , for being

5:19

a mentor for me . Who are some of those people in your

5:21

life that you can think of ?

5:22

You know I was very blessed having a great

5:24

family . Great role models

5:26

taught me well good , valuable lessons

5:29

, good morals . I think I

5:31

grew up in a great place there . From

5:33

my parents to my grandparents , I

5:35

had some great business mentors Brenda Bishard

5:37

being one really helped me shape the business . But

5:40

I had some unexpected heroes in my life

5:42

as well where they took a stand

5:44

for me at times . That was important

5:47

times in my life where I was almost

5:50

in trouble . So one was Sister Maria . Back

5:53

in the sixth grade she stood

5:55

up for me . She risked her nonehood , she

5:57

risked her job at the school I went

5:59

to because I said some things

6:02

that were one of my friends got hurt

6:04

and this Monsignor was covering things up

6:06

and I said some things publicly to

6:08

him . He was trying to get me out and she risked

6:11

everything for me in

6:13

that moment and it meant a lot and

6:15

it's just one of those things . Like you know this

6:18

person , she trained her whole life to

6:20

be a nun . She went to all the schooling

6:22

and she stood up when that

6:24

one moment came . That was just very impressive

6:27

and I always look back at that time and

6:29

I'm like , wow , she took that risk for

6:31

me and I think nowadays I always look

6:33

up to people that are taking those risks

6:35

, making those stands , you know , trying to make

6:37

the world a better place , whether it's something huge

6:40

or standing up for that single

6:42

person . I think that gave me a lot of hope and it

6:44

helped to build more of a spirit

6:46

of protecting the those that need

6:49

it . But also , hey , how can I make a

6:51

bigger difference in the broader world as well

6:53

?

6:54

I think somebody once that I remember is this quote from somewhere

6:56

courage is contagious and it's

6:58

interesting to see that when you see people who are

7:00

willing to put their life on the line or

7:03

their career on the line for somebody , it

7:05

helps you also when you get the opportunity

7:07

to also be courageous , to step into somebody else's

7:10

life and the gap when somebody needs you .

7:12

Good point . I would agree there , and

7:15

I think those types of role models out there in

7:17

society are just great for the younger generation

7:19

and give them some somebody

7:22

to follow and mimic

7:24

and hopefully replicate those

7:26

moments in life . So when their

7:28

time is called to be courageous , they're ready .

7:31

Right . So I would love to get

7:34

into your personal financial journey because

7:36

this is kind of what you do to help teach people

7:38

that . But you know it's helpful to know kind of how

7:40

you got there so that you know we

7:42

what lessons did you learn also along

7:44

the way ?

7:46

Yeah , you know , I started out very interested in money

7:48

. Again , I had great role models as far as I

7:51

grew up in a very middle class area , but

7:53

great role models as far as that . So I was

7:55

always interested in business , always

7:57

interested in entrepreneurship

8:00

and investing . And

8:02

I started young studying instead

8:04

of paying attention to classes reading books

8:06

on real estate , reading books on investing

8:09

, and I bought some real estate at a young

8:11

age , in my teenage years . I

8:13

had some early success and I really loved

8:17

that period because I had people

8:19

asking me about what I did

8:21

, how to do it , and I love to spend time working

8:23

on their budgets and going through all those

8:25

things with them . Then I

8:27

made some . I would look back and say

8:29

dumb mistakes . Right , I've got a lot of

8:31

credit cards , but I wasn't making dumb

8:34

purchase decisions . I was instead making

8:36

dumb investment decisions because I took out loans

8:39

on the credit cards and made these riskier investments

8:41

which I would not advise anybody to do . But I

8:43

did and it cost me right , took

8:45

me from a more secure position to

8:47

really struggling . Hey

8:49

, am I car going to break down ? Am

8:53

I going to have a roof over my head ? Am I going

8:56

to be able to have enough gas to get to

8:58

and from where I need to . So

9:00

I lived a few years struggle and I

9:02

think those were very formidable years for

9:04

me and I saw the impact it made

9:06

not only on my financial life but my

9:08

relationships , my friendships

9:11

and things of that nature as well

9:13

. That really shaped me

9:15

to really want to be in the financial

9:17

industry and the

9:19

goal really was to help people right , and

9:22

I got into various roles in financial

9:24

services . My last stint

9:26

was in the mortgage side of things last , I think

9:28

, five , seven years and what I found

9:30

is I was doing more to put

9:32

band-aids on people so I'd help somebody

9:35

lower their payments , consolidate

9:37

their debt , saving them thousands

9:39

of dollars a month , and they were in good shape

9:42

. I was really excited for them . They leave

9:44

everybody be super happy and

9:46

then five or six months later they would say

9:48

, hey , I'm back in debt , I

9:50

have 50 grand I need to roll back in . I'm

9:52

like we just worked this out and you were in

9:54

great shape , and so that

9:56

really spawned the interest

9:59

on hey , how do I help people before

10:01

they're getting into these situations

10:04

so we can proactively help them ? And

10:06

a lot of it came down to what we talked about at the beginning

10:08

, which is the empowerment piece . How can I empower

10:11

somebody with the knowledge and motivation

10:14

and hope for the future so they

10:16

make better decisions in alignment

10:18

with their longer term goals ? And that

10:21

led me to found the National Financial Educators

10:23

Council back in 2006

10:25

. We're going on what is it ? 18 years now

10:27

? So that's

10:29

what led me to this point and

10:31

really I just want to see people where they're self-sufficient

10:35

and able to contribute back to the community

10:37

. That would be success to me and

10:39

that's what we're really striving for here .

10:42

You just gave an interesting scenario and

10:44

I'm sure it's not unique to people . What

10:47

are some of the common mistakes that

10:50

people make with money ? I

10:53

remember when I was younger the new

10:55

thing on the block was the rent to own

10:57

market . You can get this wonderful

11:00

TV for just these low , low rates

11:02

of $20 a month

11:04

and you sign up for 60

11:06

months of paying for this TV and then you

11:08

look back , if you actually studied , that you've just

11:10

spent three times more than

11:12

a TV would have cost if you just put the money aside

11:14

and put it in the bank and

11:17

get compound interest and bought the thing for cash . So

11:19

what are some big mistakes that you've

11:21

noticed that people keep falling into

11:23

because they're just not aware of the

11:26

financial situations that are out there

11:28

for them ?

11:29

Yeah , I'd say some of the biggest . I look at people

11:31

spending on housing , on

11:34

cars . Those are some of the biggest

11:36

areas that people are overspending

11:38

and it takes up a large percentage of income

11:41

. Everybody has to have a fancy

11:43

car these days , it seems like . And

11:46

the other thing I see a lot of is people getting

11:48

into student loan debt early . People

11:50

get into credit card debt early and

11:53

I feel , hey , when you're getting into debt when you're

11:55

younger , it puts off you being able

11:57

to save , it puts off you being able to

11:59

invest , it puts off the ability to you

12:01

to benefit from compounding interest

12:03

. And a lot of people they're

12:05

in their mid 30s , early

12:08

40s , late 50s , right

12:10

before they're out of position where they

12:12

can do so , and that really limits

12:14

their ability to grow their

12:17

money through compound interest and other vehicles

12:20

. But

12:23

if they could , I always tell people , hey , and

12:26

you can live how you want , but just

12:28

make sure you have designed

12:30

the lifestyle plan you want . So I have

12:33

friends that are big spenders . They don't care about the future

12:35

, that's how they like to live and

12:37

they've made that decision , which is fine

12:39

, right , that's fine for them , that's their lifestyle

12:41

. But at the same time I'm like , hey , be

12:44

in a position where nobody has to take

12:46

care of you . Now you're

12:48

encroaching on other people's lives

12:50

, right ? So if you want to be a big spender , make

12:53

sure you have enough to take care of yourself For

12:55

those people that are

12:57

just normal everyday people . I

13:00

think always making sure you have that base

13:02

level foundation so you know

13:04

your needs are met . This

13:07

way , you could be a contributor

13:09

in times of challenges

13:11

like we saw in COVID , right ? What

13:14

happened ? As soon as COVID hit , everybody went to the store

13:16

. Everybody's buying all this stuff . Well

13:19

, I think part of money and

13:21

financial plans make sure you're in a position to help

13:23

people during those times . So

13:26

really , the biggest challenges are the largest

13:28

expenses people not laying

13:30

that big foundation and getting into debt

13:32

early . I'd say those would be the top challenges I

13:34

see out there and they're very common , and

13:38

we see that in the data out there , where the majority

13:40

of people 70% to 75%

13:42

state that stress

13:45

from money is their largest item

13:47

that they're concerned with , compared to any other stress

13:49

. Its financial stress is leading

13:51

them and it's causing damage

13:54

personally , emotionally and

13:56

in their relationships .

13:58

I've had a couple of financial people on my podcast

14:01

before , but I'm kind of curious

14:03

because everybody has a different approach , different things that brought

14:05

them into the industry . What makes

14:08

you different from , maybe , some of the other

14:10

people in your field ?

14:12

Yeah , our organization . We're the only accredited

14:14

financial education organization

14:17

that I'm aware of and I've been looking for quite a while

14:19

. That's a long process

14:22

and we're teaching

14:24

personal finance in alignment with

14:26

research based education principles . So

14:29

I think that's the big differentiator from the company

14:31

. Also , our model is different

14:33

, so we are training

14:36

other educators , counselors

14:39

and coaches to bring this into their local

14:41

community . I don't feel there's

14:43

a one size fits all financial

14:45

education . If I'm down here

14:47

in Dallas , Texas , there's certain needs

14:49

, certain socioeconomic markets

14:52

and certain challenges they're facing

14:54

here , compared to where I was from before honey

14:56

to beach California completely different , Right

15:02

? So I think it's . You know , the importance

15:04

of making sure the education you're delivering

15:06

is in alignment with the person's

15:08

socioeconomic status ,

16:05

their goals , their life stages

16:07

. I think is critical and that's why we're

16:09

in that . We've trained over 6000 educators

16:12

and coaches all across the country , every state

16:14

, 70 countries , to bring local

16:16

programming there , because they know the needs of

16:18

the groups that are in , the needs of the groups they're

16:20

serving and they can do so in a way

16:23

that connects with them , it aligns

16:25

with them . So there's no , you know exact

16:27

, you know financial literacy

16:29

, one on one course . That's a holy grail . That that

16:32

you do know it's listening

16:34

to who you're teaching , understanding

16:36

where they're at , where they want to be , what

16:38

are their near term challenges they're

16:40

facing , what are their long term goals , and

16:43

then pulling the lessons material and education

16:45

methodologies to best meet their needs . And

16:48

I think that's our difference is really more

16:50

taking that consultative approach to

16:52

serving people , as opposed to hey

16:55

, we have this course that fits

16:57

everybody Absolutely not . It's more targeted

16:59

to meet them in their particular

17:01

situation .

17:04

I'm going to a little bit tell my age a little bit here

17:06

, but back in the early 80s

17:08

we didn't have this in school and

17:11

I think it would have made a huge difference

17:13

in so many of my classmates

17:16

life , my own personal life , if there was something

17:18

in our public school system that

17:20

taught you how to personally deal with

17:22

your finances . So why

17:25

is it not ? Or maybe I'm wrong , maybe it is

17:27

taught more in public schools . What's your

17:29

? What you've been finding about that ?

17:31

Yeah , it's sad I'm actually doing a

17:34

training , comparing a report

17:36

card from 2023 on

17:39

our youth advisory board Derek with

17:41

my report card from 1991

17:43

. You shared your age , all kind of share . My age of

17:45

1991 report

17:47

a 32 years difference . I did

17:50

a line by line comparison of the

17:52

classes he took versus the classes

17:54

I took Now . He was smarter than me . He took

17:56

some more advanced classes that were you know

17:58

the more advanced math and so forth , but the

18:00

same exact coursework was offered

18:03

that he took , as me English

18:05

one , two and three . They covered the same things Writing

18:07

, research first , two years , and it was American

18:10

literature and British literature . Right , who needs that ? Right

18:13

, if you're a poet , what important . He

18:15

took the same exact biology

18:17

, chemistry , science classes . He

18:19

took PE . He took a foreign language , right

18:21

, he took the exact same coursework I did

18:23

. And we actually pulled up report

18:26

cards for the last 100 years , 1920

18:29

, 100 years same

18:32

similar subject . Back then they had home act

18:34

, they had some religion classes and some variants , but

18:36

the same math , english

18:38

, science , social studies same coursework

18:40

. And when we go back to when they

18:42

brought this over , the American school systems

18:45

based on the Prussian model , which use

18:47

it to train army and military

18:49

to be obedient and follow orders and

18:51

obey bells and so forth . And then

18:53

horseman brought this over and had backing

18:55

from the Rockefeller . So it was more business

18:58

training for their business . They want to train

19:00

workers to be obedient and so forth . So that

19:03

same model applies today . Now

19:06

, I would think that the

19:08

last 32 years technologies changed a lot . Back

19:10

in 1991 was the first website , in

19:12

fact . Nowadays we have AI , we

19:15

have driverless cars , we have just

19:17

technologies exploded . In my phone here I

19:20

have the computing power of a room

19:22

, 1000 pounds in my hand . You

19:25

might remember Thomas Guy . Do you remember

19:27

Beepers ? The kids today

19:29

don't understand that . Yet they're taking the

19:32

same subjects that I took 32

19:34

years ago and it blows me away . So

19:36

you know , the conspiracy

19:39

side of me says , hey , they're doing

19:41

something to keep people in that

19:43

working class . They never give exposure to

19:45

the career planning that . The

19:47

other you know where the future is

19:49

. The other side of me just says , hey , you

19:51

know , people , government institutions are

19:53

slow to change . They don't make change

19:56

. Now there's some states adopting financial

19:58

literacy bills . About half the states have

20:00

them . But the states that even

20:02

do , it's minimal . They

20:05

don't . They don't . They fail to meet even

20:07

minimal education standards . So

20:09

if I took math , I would have to have a qualified teacher

20:11

, funding , I would need to be a standalone class . There'd

20:14

be rigor , there'd be scaffolded lessons that would

20:17

help me develop and grow with financial literacy . It's

20:19

not that it's like , okay , he will teach it for

20:21

10 hours . Imagine trying to learn

20:24

Spanish after 10 hours or whatever form

20:26

language or algebra after 10 hours . It's

20:28

not possible . So I

20:30

think it's really a cover for their failure to change

20:32

and adapt , you know , subject reform

20:34

that would benefit the working

20:37

class of Americans , a ivory tower education

20:39

system that still focus on

20:41

these , these , these topics that nobody

20:43

uses . Right , less than 10%

20:46

of people use anything above algebra

20:48

, the very basic level of

20:50

algebra . Most people don't use anything

20:52

with science . Now , maybe I love discovery channel

20:54

, I love what learning , but it's not needed

20:57

today . And I think if

20:59

we implemented financial

21:01

literacy , career education

21:04

, entrepreneurship , as well as some

21:06

other core life skills , I can go a very

21:08

long way in helping these youth , lowering

21:11

the dropout rate , because the subjects like

21:13

algebrates the leading cause of dropouts

21:15

, which is , you know , one of the most detrimental

21:18

things somebody could do in their life . And

21:20

I think if we can adopt more practical

21:22

topics . So even when I was in school

21:24

, I was in the back of class reading my investment books , right . And

21:27

the kids today I talked to they're like I have

21:29

no need for this , I'll never use it . They understand

21:31

, they're smart and

21:34

just making it more relevant to them , I think

21:36

we can empower a nation . We can

21:38

change the how people are living and

21:41

I think that would be the biggest change

21:43

and that's really what we're pushing for . This

21:45

this , this year and continuing is

21:47

subject reform within our high schools and

21:50

even early college years as well .

21:54

One thing you said I also kind of remember I

21:56

didn't take economics until college and

21:59

I loved economics , but I never got exposed

22:01

to that . In high school it

22:04

was a fun subject . I understand

22:06

economics . I think one of our problems in America

22:08

is we don't understand the basic

22:10

economics of how it even

22:12

works . So we keep . Our

22:15

nation is kind of modeling what

22:17

America is doing . We're

22:20

deep in debt . We just keep borrowing more

22:22

money , borrowing more money , not paying

22:24

it off . We're not investing in

22:26

the future . We're just like you're talking about

22:28

your friend , I'm just going to spend it out now because

22:30

it's not going to be my problem , it'll be my grandkids problem

22:32

. And so if

22:34

more people , I think , understood how

22:37

money worked and how investing

22:39

worked and how to value financial

22:42

freedom and personal finance , I think

22:44

we as a nation would probably understand better

22:46

than how dire the situation we're

22:48

in right now is .

22:51

Very true , I think so , and

22:53

I mean really it's not rocket

22:55

science . Personal finance is easier than

22:57

most topics in high school . We need income

23:00

coming in right . That's a

23:02

focus . We need to control our

23:04

expenses and the ultimate goal

23:06

is just being able to save on a regular basis

23:08

so we can put that to you . So there's really

23:10

the main goal is being able to save

23:12

on a regular basis . Spent

23:14

expenses , income are the two pieces . So

23:17

I think a lot of the industry tries

23:19

to make it so complex . It scares

23:21

people off , but

23:23

the reality is , for the average person , that's

23:26

what we need to focus on . How

23:29

can we get you an income and improve

23:31

your skills so you can earn more ? How can

23:33

we help you reduce your expenses or

23:35

at least live within your

23:37

range there ? And then how can we establish

23:39

a habit of saving

23:42

on a monthly basis so you

23:44

can put that to work ? And I think that demystified

23:46

would inspire a lot of people to take action

23:48

. But instead they get caught up with credit

23:51

. All this stuff , it all plays a role , but

23:54

if we can just focus them on , hey , this is

23:56

the basic framework and these little

23:58

things like credit plays in there can help lower

24:00

your expenses with a better credit because you have

24:02

a lower interest rate . So we can build

24:05

off that framework to really help people get that

24:07

big picture concept , demystify

24:09

that and again adding

24:11

in that hope so that they actually

24:13

want to take action and feel confident that

24:16

they can achieve some success financially .

24:19

I love that . So if someone's

24:21

listening to this podcast and are going , he

24:23

makes a lot of sense . I would love to get

24:25

this in my local school . What

24:27

are some steps that you can help

24:29

? Maybe parents go ? I want

24:31

my kids taught this . What steps should they

24:33

be taking ?

24:35

Yeah , there's a few things you can do . Looking

24:38

with schools , it can be challenging

24:40

because there's levels of red tape and

24:42

processes and procedures that

24:44

can be frustrating for some . I always like

24:46

to go through the path of finding

24:49

somebody within that system

24:51

that's as passionate as you

24:53

are . So , finding that person

24:56

that really feels and values

24:58

financial education and there's a lot of them

25:00

. We have teachers coming out of pocket

25:02

to invest in our materials and training because

25:05

they want to bring it there . They're coming out of pocket

25:07

. So there are those people , there's those principles

25:09

, there's those educators that have that

25:11

passion , they want to bring this in , they

25:14

know the importance of it . So

25:16

, finding that advocate within

25:18

the system and that will help you

25:20

navigate it without your kind of make

25:22

a lot of calls bouncing around Everybody's

25:24

sending you different directions , but when you have the advocate

25:27

they can direct you . So

25:29

that'd be step one . And then

25:31

you know bringing in . I think board

25:34

meetings are always a great place to present

25:36

. If you're comfortable , presenting Board

25:39

meetings are always a great way to raise awareness for

25:41

that and gender , other support , building

25:44

a local , other parents , that

25:46

that share your beliefs and

25:48

being able to present . Hey , this isn't just me , this

25:50

is the belief of this parent Partner

25:54

with PTA's , pto's , I think , is always a great objective

25:57

as well . So really finding that

26:00

nucleus of relationships that

26:02

you can then leverage to implement policy

26:04

change and

26:06

it does take a lot of effort to

26:08

do so , but that's

26:10

one way . The other way is to instead

26:13

, just as you're waiting for policy

26:15

change take place , to lead programming

26:18

yourself or to help

26:20

the school fund their , their , you

26:22

know , the teacher , whatever fund a financial

26:24

literacy program . Again , what we do is

26:26

we help different parties . It

26:28

could be a parent , it could be a teacher , it

26:31

could be a financial advisor , it could be a nonprofit

26:33

, faith-based organization . We provide

26:35

them everything that they need to build and scale

26:38

a program . So , as you're

26:40

going for that policy change , if you

26:42

feel called to actually implement a program

26:45

or do something in the meantime

26:47

, we can definitely help you there as well

26:49

. And we have resources for you letters

26:51

for school boards , letters

26:53

for you know , influencers in your

26:56

, in your school , to help implement

26:58

that policy change , and we want to be

27:00

that support system for you , so you don't have to create

27:03

these letters and so forth . So feel

27:05

free to reach out if you do need that type of support

27:07

.

27:09

So the person inside of me is going okay , this sounds

27:11

great . What does it cost ? So

27:13

someone who's listening going I'd love to do this

27:15

. Is it cost prohibitive for my group

27:17

? So kind of let us know , kind of , what

27:19

your tears of cost is or

27:22

what the overall program would cost to run this

27:24

in a school system .

27:26

Yeah , we have a lot of free curriculum

27:28

online as well . So , you

27:30

know , moving out on your own for kids

27:32

I think that's one of my favorite ones for teenagers

27:35

, because we're not teaching them financial , living , financial

27:37

literacy , we're teaching them how to move

27:39

out on their own , gain financial independence

27:42

. You know , do those things . I think that's a fun one

27:44

to do . So that's free . We have a lot of other

27:46

material free . All of our standards

27:49

for schools and policy for framework

27:51

for schools is free . All that

27:53

is available on our website , financialeducatorscouncilorg

27:56

. Now we have a

27:58

training and certification for

28:00

educators and coaches that starts at

28:02

$297 . So for some that

28:05

may be cost prohibitive , for others not

28:07

. It's $297 for

28:09

the certified financial education structure

28:11

training which really teaches people

28:13

the content that they'll be

28:15

sharing how to teach the

28:18

education methodologies , how to manage a

28:20

class or really how to run a program , and

28:23

so you know , our goal is to grow

28:26

with people . So , hey , so a

28:28

lot of people start with the free material . Hey , I'm doing

28:30

this program , I'm seeing some success . Now

28:32

I want to improve myself professionally

28:34

. Okay , now I can go through this training

28:37

, earn my credentials . Oh , maybe

28:39

now I want to start a business around that , or

28:41

a brand or a special

28:43

programming . You know around that , so

28:46

now I can add those pieces . You know

28:48

where it's branded to them and so forth . So we

28:50

have different levels but we definitely pride ourselves

28:53

on being able to grow with people . Our

28:55

goal is to meet them where they're at and

28:57

nurture that program so

28:59

they're seeing success , they're serving people and

29:02

with that success comes the ability

29:05

to to fund programs . So we help with

29:07

the funding aspects as well , so

29:09

they're not having to come out of pocket . Instead they're

29:12

just trading money that

29:14

they've earned , you know , for upgrades

29:16

on , maybe enhancements , like they want to add

29:18

their logos , or they want to offer different

29:20

programs , or maybe they want to serve different ages

29:22

. So that's our mission as an organization

29:25

. As opposed to making a very cost

29:27

prohibitive , we want to grow with them .

29:30

That's great . I'm curious . You

29:32

have a lot of good things going on . I'm curious

29:35

what are you excited about in

29:37

this season of your business or your life ?

29:41

You know , we've launched our state campaigns

29:43

, which , which I'm very excited about . So

29:45

for me , and basically it's our

29:47

philanthropic arm of

29:49

what we're doing , I'm on a national

29:51

scale . We have that model where , you know , we grow with

29:53

people , but on this

29:55

model we're releasing state campaigns . We

29:58

have California , florida , ohio , massachusetts

30:00

, texas are launching January

30:03

, illinois , new York launching in April , and

30:06

really , as a certified B Corp , that's

30:09

our . Our focus is

30:11

on social impact and giving back . In fact

30:13

, we're graded upon that we have to

30:15

meet certain standards to qualify

30:17

for that status , and

30:19

so this is really our giving back arms . So faith

30:21

based groups , schools , nonprofit organizations

30:24

, through our state chapters , we're

30:26

able to get the material complimentary

30:28

and we've been able to build

30:30

great boards and leaders within

30:32

those communities , and

30:35

that's really , I think , a key thing . So our state

30:37

chapters are focused on increasing

30:39

access to programming , especially where

30:41

funding may be a challenge . We want

30:44

to help there , raising awareness

30:46

and advocating for financial literacy

30:48

education , not only in schools , but

30:50

also getting parents involved

30:52

in teaching their kids about money . And

30:55

then , finally , it's about relationships , relationships

30:57

with various stakeholders from

31:00

the nonprofit community , education community

31:02

, business leaders , faith

31:04

based leaders , and really making

31:06

it a campaign that

31:08

can scale and continue to serve the

31:11

community for years , and that's really where

31:13

our model will be changing . We

31:15

hope to have all 50 states launched in the

31:18

next three years and that's

31:20

really our focus is a hey , how do we make a difference

31:22

on , on a , on a state and community

31:25

level ? And this gives us

31:27

the ability to measure the impact . And

31:29

I love seeing the impact , especially when

31:31

you can tell , you know , say , hey , this is

31:33

a community , this is how it's been impacted

31:35

, this is the benefits that they're receiving

31:37

and that's our focus . So

31:39

really , that's that's one of the things I'm most

31:42

excited about from a business perspective

31:44

. And you know

31:46

, just , I love talk with people

31:48

on our board and local community

31:51

leaders because even though everybody's so

31:53

different different backgrounds

31:55

, different ideas , even different

31:57

political beliefs , different religions

31:59

Everybody has a shared common

32:01

goal how do we empower today's

32:03

youth to live better than what , what

32:06

we did , and have a brighter future ? And

32:08

I think it's a great unifying

32:10

cause . In fact , we called the campaign United

32:13

for financial literacy and

32:16

you know it's nice today to see

32:18

something bipartisan where really nobody

32:20

disagrees , nobody says , oh , don't teach my

32:22

kid about financial , and nobody says that so I

32:25

like it . Nobody's . Nobody's trying to cancel me

32:27

or boycott me , it's . It's one of those

32:29

things that I think . I

32:31

think that's a pro , but also the con is when

32:34

you don't have like an enemy or somebody

32:36

against you , right , if the

32:39

media is not focused or they're directing

32:41

intention where there's a battle , because

32:44

everybody supports financial literacy , I think we need

32:46

that . You know that

32:48

bad guy or that group that

32:50

says , hey , stop financial literacy . So if anybody

32:52

wants to get financial literacy , I welcome

32:54

you .

32:54

There you go . I love that

32:56

. I'm

32:58

curious , vance what do you want your

33:00

legacy to be when you leave this world ?

33:04

Really , I think it circles back what we talked about in the beginning

33:06

. I want to leave it better for the future

33:08

, specifically financially . But I know if

33:10

I'm helping people financially , it spills over

33:12

in many areas of their life . So I

33:15

think , hey , if I can help them with that financial

33:17

side of things , they're going to be more

33:19

attentive in their relationships . They're going

33:22

to work toward those higher spiritual

33:24

needs . The spirituals will have more time

33:26

. They're not having to work the five jobs right

33:28

, they'll be able to take more time with

33:30

their kids . They'll be able to , you know , just be

33:32

better just because they have more time

33:35

to focus on those areas

33:37

. If we look at the you know hierarchy

33:39

of human needs , you know we need to have

33:41

our physiological needs met . You know

33:44

, health security , food

33:46

, shelter , etc . We

33:48

need to have our emotional needs met . When we

33:50

finances

33:52

issue , people often

33:54

report that they're under mental

33:56

strain and they feel poorly about

33:59

themselves . So that's an issue . We

34:01

need those love and belonging needs met

34:03

, right . And if you don't have

34:05

finances , right , if you're single , it's very

34:07

hard to date , right ? What are you going

34:09

to do ? And if you're in

34:11

a relationship and you haven't been able to afford

34:14

a date night in six months

34:16

and I've been there before

34:18

and it's stressful , right . It's like kind of

34:20

like okay , well , what are we going to do ? We'll stay

34:22

in again ? There's

34:24

always . And then you know the higher order thinking

34:26

skill , you know the higher order needs of

34:28

the spiritual growth , seeking truth and

34:30

those more important things . And if we're focused

34:33

on those lower level areas , we're

34:35

not able to dedicate oftentimes the time there

34:37

. So I really see , you

34:39

know money as a foundation to

34:41

helping those other areas . Now , if

34:44

people were super spiritual

34:46

person , they can bypass all those other needs , right , yeah

34:49

, but the average person out there

34:51

, they need to make those lower

34:53

order human needs . They

34:55

need to satisfy those before they can really

34:57

focus on certain areas . And

35:00

really that's what I want for the world and

35:02

for individuals .

35:04

That's awesome . Is there anything I haven't

35:06

asked you that I should have asked you ?

35:08

No great questions , but I love what you're

35:10

doing here with the show and you know I always

35:12

like to point out that . You

35:14

know you raise an awareness for these issues

35:17

. You bring in on the guests or focus on empowerment

35:19

. I really consider you a financial

35:21

educator in many senses . We talked about the

35:24

, the guest you had on , that business host

35:26

that was teaching , helping businesses

35:28

. You know , really . You know , even

35:30

though you know people look at me and

35:32

say , hey , I'm a financial educator , I

35:35

consider what you're doing , we're in the same space

35:37

right , and you're helping empower people

35:39

through a channel . That's a

35:41

word blessed with today . You know , back in , going

35:43

back to my high school years , we didn't have podcasts

35:46

, right . We didn't have

35:48

smoke signals and newspapers , right , and then

35:51

nowadays we have all these opportunities

35:53

to learn . I think that's one of the

35:55

most important things we can , we can share with

35:57

our youth is get that passion for learning

36:00

. I want every kid to leave school

36:02

wanting to learn right . I think it does

36:04

a big disservice when they're like , okay , school's done

36:06

, I'm over it . If

36:09

we can teach lessons of subject matter

36:11

that inspire learning and

36:13

just let them know , no matter what is out

36:15

there , you can learn . We

36:17

had to go back to the library Dewey

36:19

decimal system we had to go to

36:21

the encyclopedia , right , and now

36:24

you have at your fingertips anything

36:26

you want to learn . So I think you know

36:28

, just just you know . Only

36:30

thing point I want to make is we have

36:32

huge opportunities here today to really

36:34

increase our knowledge , build

36:37

wealth or build financial security

36:39

, gain critical skills

36:41

that will help you earn more at our fingertips

36:44

. Take advantage of that . We're

36:46

very blessed with where we're at today and

36:48

that's the only point I wanted to add

36:51

here .

36:52

Well , thank you , vince , for my fans who are calling

36:54

, who are listening , from Bangladesh and DC

36:57

, new York and even places in London , where

36:59

can they find you and

37:02

where can they follow you on social media

37:04

?

37:05

Yeah , our websites financialeducatorscouncilorg

37:10

. You can get me on

37:12

LinkedIn at Vince

37:14

Shorb , SHORB

37:17

or just type in National Financial

37:19

Educators Council on Google and

37:21

you'll see our various social

37:24

channels there . And

37:26

yeah , we welcome anybody . Again , if you have

37:28

a passion for this , if you want to be an advocate

37:30

educator , just you know , have an interest

37:32

in the subject matter , I'll reach out

37:34

. I'm happy to talk to you .

37:36

Well , vince , thanks so much for being a guest on the podcast

37:39

and blessings on what you do . Hopefully

37:41

your game momentum will get this in all

37:43

of our schools . I really do think this

37:45

will help the next generation to start

37:48

out on a much better footing , get us a much

37:50

healthier understanding

37:53

of finances and really plan

37:55

better for the future . I think we do . We

37:57

have the potential , we have the resources

37:59

. We just need to know how to manage them better .

38:02

I agree . Yeah , thanks for having me , Keith .