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The majority of Americans are living paycheck to paycheck and facing a financial system that isn’t designed to move them into prosperity. We believe the financial industry plays a critical role in addressing this issue, and helping build a more inclusive system for all.

In this episode of Varo Prosperity, Varo Bank Colin Walsh, Financial Health Network Founder, President, and CEO Jennifer Tescher, and Founder of THRIVE Financial Empowerment Center Sarah Newcomb 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 all

Key takeaways from this podcast

• The fact that the majority of Americans are 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.

Get to know Jennifer Tescher

"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

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.

Connect with Jennifer

• Website

• Email

• LinkedIn

Get to know Sarah Newcomb

"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 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.

Connect with Sarah:

• Website

• Email

• Loaded: Money, Psychology, and How to Get Ahead without Leaving Your Values Behind (Book)

• LinkedIn 

• Twitter

Discover Varo Prosperity

Take a journey with host and Varo Bank CEO Colin Walsh, as he brings together visionaries from financial services, tech, non-profits, government, sports, and beyond to discuss breakthrough initiatives designed to help people live better lives.

In the Varo Prosperity podcast, we’ll explore how reimagined policy, regulation, and technology-first banking solutions are absolutely essential when it comes to paving the way towards unparalleled financial access and inclusion.

Whether you're a casual podcast listener looking to improve your financial wellbeing, a financial industry influencer, investor, or regulator, this podcast is for you!