Rewriting Money Stories: Transforming Financial Narratives for Students, Educators, and Graduates

Erin Kuhn Bhansali

President, Qnity for Schools

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Introduction & Welcome

Chris:
Chris welcomes Erin and introduces her to the audience. He reads her bio and session title, building anticipation for the topic.

Bio Summary:
Erin is the President and Partner at Community for Schools, which empowers salons, spas, and med spas to build financially sustainable businesses through visual, simple financial literacy. She has helped over 50,000 students across 200 campuses and hosts the Money O2 podcast.

Session Title: Rewriting Money Stories: Transforming Financial Narratives for Students, Educators, and Graduates


Session Kickoff

Erin:
Erin thanks the hosts and acknowledges the effort it takes to put on virtual events. She apologizes for a raspy voice but expresses excitement to share insights.

Erin begins the session by asking attendees to confirm screen visibility, then dives into the core topic: financial literacy and “money stories” in the beauty and wellness industry.


Money as a Motivator

  • Only about 20% of students cite money as their primary motivator.

  • Yet, money is essential—“close to oxygen on the got-to-have-it scale.”

  • Erin invites participants to reflect: Are they personally feeling financially tight? Many students and educators are.


Gen Z & Financial Pressure

Erin highlights data showing that Gen Z is:

  • Drowning in debt.

  • Using “Buy Now, Pay Later” services (including DoorDash).

  • Receiving financial support from parents (46% between ages 18–27).

  • Experiencing low financial confidence and poverty or near-poverty living conditions.

Key Insight: Students aren’t the only ones struggling—many educators and staff also face serious financial challenges.


National Financial Stress

  • 70% of Americans say money is their top stressor.

  • 70% live paycheck to paycheck.

  • Financially stressed employees are twice as likely to leave their jobs.


Financial Literacy Gaps

  • Access to financial knowledge exists (millions of Google results), but behavior change is still a major gap.

  • Many people either don’t know what to do or can’t act on what they know due to financial strain.

  • Schools can’t change student behavior directly—but they can change what students and staff know.


Financial Education in Beauty Industry

Community conducted a study with nearly 7,000 participants:

  • 77% of students had no financial education.

  • 70% of professionals had no financial education.


Meet Erin

Erin formally introduces herself:

  • President of Community.

  • Works across divisions—supporting both schools and businesses.

  • Leads research on economic empowerment in beauty/wellness careers.

Community’s Mission: Help people in the beauty/wellness industry make money doing what they love and have a life.


Why Prosperity Matters

Erin challenges the audience:

Can someone have a high-quality, prosperous life if they’re always financially struggling?

If graduates can’t make a livable income, they may leave the industry. Financial empowerment increases the chance of long-term success and fulfillment.


Understanding Money Stories

Erin introduces the idea of “money stories”—internal beliefs and external narratives around money:

  • Most students and educators have negative money stories.

  • Financial trauma is common and affects career success.


Debunking Beauty Industry Myths

Common perception: Beauty industry = poverty-level income.
Reality (based on Community’s data):

  • Median income: $55,000 (vs. BLS’s $34,000).

  • If working 40 hours/week: Estimated at $84,000/year.

  • Nearly 25% could earn over $100K with full-time hours.


Hours Worked & Financial Potential

  • Average professional works under 27 hours/week.

  • That’s only 16% of their week focused on income generation.

  • More hours, especially early in a career, can greatly increase earnings.


Guest Speaker: Corrine Murray

Corrine is a Community trainer and practicing hairstylist. She shares her personal transformation:

Before Community:
Loved her career but struggled financially.
Held deep money fears from childhood—believed good people didn’t make money.

After Community:
Let go of her negative money story through their program.
Gained financial confidence and stability.
Took her first vacation, bought her first car, and was able to afford fertility treatment.


View Transcript:

Chris:
Raise your hand so we can promote you as a panelist. Go. Hi Aaron. Do you want to unmute yourself so we can hear you?

Erin:
Hello, I’m here. Great to see you.

Chris:
Alright, great to see you too. Well, this is exciting. Thanks for being here with us. I’m going to read a bio about you. You might blush, I don’t know, depending on who wrote it, and then I’ll read your title of your session and description and then we’ll just turn it over to you. I think a lot of people are excited to hear from you. So you guys, this is Erin. Erin serves as president and partner for C and Community for Schools, empowering top salons, spas and med spas to create financially sustainable businesses through signature, simple and visual approach to business. Having served thousands of businesses and over 50,000 students across 200 campuses through the Money EDU curriculum, which is a visual financial literacy curriculum designed for creatives. Community is the market leader for financial wellness and the professional beauty and wellness industry. Erin’s passion for helping businesses, businesses, professionals, and students reach new levels of financial wellness comes to life through community’s signature, simple visual and actionable approach.

(01:40):
She hosts the Money O2 podcast featuring financial transformation stories and expert insights, while also advocating for careers in beauty through data-driven research at the community institute, which demonstrates the economic potential of careers in beauty and wellness. So the title of her session is Rewriting Money Stories, transforming Financial Narratives for Students, educators, and Graduates. In this powerful keynote, we’re going to explore an invisible thread that connects every aspect of your beauty school, money stories, the stories of parents and support systems of perspective students, the stories your educators believe do to their own lack of financial education and the possibilities of new financial future for your graduates. Erin, welcome. We’re going to turn it over to you. I think everybody’s excited to hear from you.

Erin:
Fantastic. Well, I’m so honored to be here, Chris, thanks for asking me to join and thanks to the Oel team for putting on this amazing event. It is no small feat to put on virtual events like this, and so I’m really honored to be here. And I do apologize if my voice sounds a little raspy. I’m just coming down with something, but I’m here and present and I’m super excited to spend time with all of you. And so I’m going to go ahead and share my screen and if you guys can just confirm that you are able to see, just give me a drop in the chat. Yes, we’re good. Or maybe someone from ZO can let me know. I think that means we’re good. Fabulous. Okay, so we are talking about money stories today and we’re going to talk about, I’m going to share some background with some statistics that we see in the beauty industry and beyond that relate to students, but also members of your team, educators staff as well.

(03:32):
And then what’s most exciting to me is that I’m going to be bringing on two individuals to share their former money stories and some transformations that they’ve had in their life. And so here’s the thing with money and financial literacy. When we ask this question to students and many members in the beauty and wellness sector, we know money is not the primary motivator. They didn’t get into the beauty and wellness careers to necessarily make a bunch of money. Maybe some did, but primarily when we ask that question about 80% say money is not their primary motivator. However, it is reasonably close to oxygen on the got to habit scale. Now, who here is feeling like their oxygen even in your own life? Then let’s talk about students and educators who feels like their oxygen is getting a little lower. Things are getting a little tight right now.

(04:25):
Anyone feel that? Go ahead and type in the chat if you’re feeling pinched or if you’re feeling like things have gotten a little bit tighter on the front of money. Go ahead and just type in the chat box. Yes, so students especially are feeling that, and I want to share some statistics because students may range right in ages, but a lot of your students do fall into the Gen Z category, which is up to about 28 in terms of age. So I believe it’s 13 to 28 and 28 is the oldest. So here’s just some very recent headlines, right? Gen Z drowning in debt, gen Z has a debt problem. Gen Z has the lowest financial literacy. Gen Z is severely delinquent on debt payments. And what I found really interesting is nearly half of Gen Zs are relying on financial help from parents up to the age of 28.

(05:14):
You guys, I’m sorry, that article is specifically to 27. And so if you see Gen Z is increasingly relying on buy now, pay later programs, and I’ve started to talk about this a little bit more, but I do encourage you, and it seems almost trivial for me to bring this up, but I cannot tell you how much the topic of when we’re working with schools and students and educators, how much money goes to meal delivery and DoorDash services. It comes up enough that I feel like I need to say this on every call that DoorDash just launched what’s called buy now pay later programs. Everyone familiar with those? So meaning people can finance and it is absolutely a loan to essentially finance your meal delivery services. And Gen Zers are the biggest users of Buy Now later programming. And so there’s clearly a demand because they’re taking advantage of these.

(06:05):
And so I think when we look at what are schools supposed to do about this and how are schools supposed to help with this, there’s a lot of things that are out of your control as a school owner, but I do believe the topic of this right now, especially as you’re trying to produce graduates that are going to stay in the industry and make an economically viable income talking about this, oh my gosh, our students keep door dashers and our community in business. I literally can’t tell you how many times people talk about it. I’ll send you a blog on that, Stephanie, if someone from the community team can share that, it will be helpful. I want to share a couple other stats around Gen Zs. Around 29% of Gen Z lives in poverty, even if not technically at the federal poverty level. The report found that 40% of Gen Z adults fall into the asset limited income constrained employed population, which represents everyone who earns more than poverty level, but they cannot afford the basics of where they live.

(07:01):
This is from United Way, gen Z is the least financially confident generation. And then as I mentioned about the increasing reliance on support systems as well is 46% of Gen Zers between ages 18 and 27 are relying on financial assistance from their parents. And over 50% of those respondents said that they don’t make enough money to live the life they want. So this is a very real problem. But here’s the reality, it’s not just students. It’s not just the students that are coming into your schools, it’s also your staff. And especially this is a barrier that we really work on at community in our programming is educators are really struggling with this. People in career services, many other members of staff are also struggling financially. So I want to share some other more generalized statistics, which is 70% of Americans rate money as the number one stressor.

(07:50):
70% of Americans live paycheck to paycheck. You can see these other stats on the screen here. So this is a problem. And now from a business owner perspective, if you are an owner or a leader, let’s talk about what this means from a retention aspect. So educators are something that we’re always trying to retain and there’s a shortage of educators and we hear so many schools struggling with this, financially stressed employees are twice as likely to look elsewhere, right? That’s really the headline here. So what can we do in the school environment to help take off some of the pressure? And here’s some of the reality with the statistics. There are absolutely some systemic and societal challenges that are happening right now and Gen Zers falling in that category. Some of that is normal to an extent they may or may not be in school.

(08:41):
They’re in the earliest part of their earning years, so it takes time to build up their earning potential and capability. But there are some real barriers around inflation and cost of living and some of the things that we’re seeing on a broader economic landscape too. So I do think that this is something that schools really need to pay attention to. And so here’s the reality, there is no shortage of education. There is no shortage in terms of access to information. This is billions and billions of results when we search how to budget, how to save money, how to pay off debt, but there’s a gap. And the gaps in changing financial behaviors and changing financial knowledge are two different gaps. So in certain cases, many people just don’t know. They don’t know what they’re supposed to do with finance. They might not realize that taking out a buy now or participating in a buy now pay later program until they get their next paycheck on their burrito actually classifies as a loan.

(09:38):
They just might not have that information. And we see that a lot. And then there’s many people that know what they should do and they’re just not doing it right or they are not in a financial position to do the things that they need to do. And so what we can’t change always is the behaviors. We can’t necessarily force someone to do something different. What we can change and what schools can help to change in their own way through education is what students and educators know. So this is a study I want to share with you, and we have a full report on the financial state of the beauty industry, and we’re actually in the process of conducting this. But what we found with over 6,000, I think it’s actually close to 7,000 participants right now, is you can see the green icon is students and the orange icon is professionals.

(10:27):
So about 77% of students have zero financial related education, zero. And that’s not even official or unofficial, it’s just any financial related education. And then about 70% of actual professionals out in the workforce at a variety of different ages are also have had zero financial related education. So this is a huge gap. And so here’s me. You guys can see me on the screen here, but for those of you who don’t know me, it’s such a pleasure to meet you. My name is Aaron Kuhn Bon, my maiden name is K. So you might see a couple different, but my name is Aaron Kuhn Bon and I serve as president across all of our different divisions at community. And so I really straddle working with business owners and business leaders. So hearing salon and spa owners and the challenges that they’re facing and then going into schools and hearing some of their challenges.

(11:16):
I’m also very involved in our research division that produces studies and research on earnings potential in the economic empowerment for those in the beauty and wellness sector. And so when we go back to why community was created, again, we’ve got divisions for business and then our school division as well is the essence of what we wanted to do was to help those in the beauty and wellness sector make more money, do what they love and have a life. And so I talked a little bit about our different divisions and you can certainly read more about those, but the end goal that we’re looking at is prosperity. And here’s the reality when we talk about money not being the primary motivator, the reality is, and I’d encourage you to reflect on this, is can someone have a high quality and a highly prosperous life if they don’t have the money component figured out, if they’re always struggling financially, will that lead to a truly prosperous career If they can’t figure out the money component, and if anyone disagrees with me, please share.

(12:15):
But if someone goes and graduates and they can’t figure out how to make enough money, chances are they’re not going to be able to truly enjoy their career. They’re always going to be financially struggling and they might not stay in the industry. And so when we can empower students and individuals with financial knowledge, they’re more capable of truly enjoying the career that they signed up for in this industry. And so I want to go back to this concept of money stories, which is what are the money stories of your students? What are the myths and the traps and the beliefs that they might have been telling themselves? And also, what are some of the societal stories that we hear about a career in beauty and wellness? And so when we ask this question in the program, is your story more negative or is it more positive?

(13:00):
It is overwhelmingly negative when we ask this to students and when we ask this to educators, and I mean we talk about something called financial trauma. Interestingly enough, there’s a new field around financial therapy. It’s about 13 years old now at this point, but there is absolutely financial trauma that people bring into their careers. And as you’re going to hear from one of my guests momentarily, it absolutely shows up and impacts financial performance in a career in beauty and wellness. And so if you’ve heard me speak on our variety of studies that we’ve done is there is the story that many people share and the narrative about a career in beauty that it is near poverty level wages and a low tier profession. And that’s just not what our findings indicate and not what the data shows us. And so for those of you who have seen, we’ve done several studies on this, which simply looks at how much does the average beauty and wellness professional

(14:00):
Earn? So if you pay of just under $34,000, our study shows closer to $55,000. So that is a huge, huge difference. Now here’s the kicker. The findings on the US Bureau of Labor Statistics do not take into account hours worked. Our study does these earnings for beauty and wellness professionals, particularly in cosmetology this study. And I do want to clarify that this is W2. So this is those who are working inside an existing salon or spa. On average, the median income is about $55,000. Now, if we actually annualize that to a 40 hour work week, these earnings would go up to closer to $84,000, just around $84,000. So that is a huge, huge gap. And what we also found is almost a quarter of these individuals would actually earn over a hundred thousand dollars if they just worked 40 hours a week. So when we talk money stories, both our internal stories and also the stories that we hear from those in the media and also just the perceptions of a career, how do we bridge the gap?

(15:09):
Part of bridging the gap is data. And also part of the gap is really exploring the stories that we tell around money. And so one of the components that we talk about in our curriculum is empowering students upon graduation of how they will actually make money and how to make money the fastest, right? Because we need to help those students build their clientele and build their earnings capability as fast as possible so they can start to have a more comfortable financial quality of life. And so again, we see this gap in earnings. The average professional is working under 27 hours a week with a standard hourly work week of 40 hours. Now, why this matters is in the professional space, we’re hearing stylists many times say or claim they might not be making enough money, but there is a very quick change to that is fast tracking and working a more standard hour work week.

(15:58):
There’s a ton of other things that we can do, but especially early on in encouraging people to build and focus on their earnings years in terms of the building capabilities. Now less than 27 hours works per week by the way, is about 16% of somebody’s weeks spent on driving money in. Now I will say I did calculate sleep in that, so if we calculated that out, it would change, but still there’s a ton of opportunity in this industry to increase and drive money in. So I want to turn to one of my guest speakers who’s also one of our fabulous trainers on the community for school side of things, and her name is Corrine Murray. Corrine is again a trainer, so she works with all of our accounts. And how Corrine actually came to us was she was a hairdresser in one of our programs almost a decade ago now, Corinne, which is wild. And Corinne had a pretty major financial transformation. And I will say Corinne is also still a practicing hairdresser. So Corinne, I’d love for you to share, and I’m just looking at time in about just a couple minutes, your money story before and then your money story after and the results that led once you got a little bit of education.

Speaker 3 (17:04):
Sure. Hi everybody. I’m Corrine, and like Erin said, I’m the trainer at Community for schools and a licensed active hairstylist. So I’m still behind the chair today, but before I interacted with community, I really struggled financially even though I absolutely loved my career and was really enjoying what I was doing and focusing mostly on my technical growth, but I couldn’t figure out the making money part of it. I couldn’t figure out how to make that fit into my life. And so I knew that I needed to make more money and I was hoping that somebody specifically community would show me how to do that. And what I found whenever I went through the program was what was actually holding me back was this really intense money story and money situation that I had grown carried into adulthood from childhood. And that was one of poverty and never having enough and always feeling like good people don’t make a lot of money or good people don’t sell things or whatever that is.

(18:04):
And so it really was a disconnect for me whenever I was behind the chair and trying to serve my clients. And so this is my nine grid that I created, a closure nine grid whenever I went through the program with Aaron and getting closure on my past and that negative money story and really being afraid of making money or what would happen to me if I made money, allowed me to close that chapter and really experience prosperity in ways that I never thought before. So I never imagined before. So I mean it was everything from being able to buy my first car or take my very first vacation of my entire life to being able to do things that seemed so extravagant at the time, like pay for fertility treatment or remodel my home or anything like that. But really specifically the immediate change that I realized whenever I got closure on my previous money story or my negative money mindset was I grew my income by $42,000 in a single year. And so that was this huge takeaway for me that really allowed me to understand that money or prosperity and making money and living the life of my dreams was within my reach and possible for me and has honestly allowed me to stay in the beauty industry as long as I have.

Speaker 2 (19:30):
Thank you so much Corinne. So couple things I want to call out Corinne. When she came to us, and I remember this, Corinne was about ready to lead the industry and it was specifically and Corin, that was one part you always say with the story is this was my final straw taking a program, a financial program was like, this is it. If this doesn’t work, I’m out of the industry. I can’t make enough money.

Speaker 3 (19:51):
So to the point that I knew I was three years in really all in and loved my job, but the part that I was missing was being able to support myself. I had to put the whole curriculum on a credit card or put it in payments or you know what I mean? I couldn’t even afford to do that because I knew that if I didn’t change something very quickly, I wouldn’t be able to pay my rent the next month. And so I was ready to be on my way out.

Speaker 2 (20:20):
And Corinne’s income kept climbing by the way. And so the beautiful thing to me is Corinne now was living her prosperous life even further. She loved her career, but she didn’t have the money component figured out. Now, what that means to the industry is Corinne would’ve left after three years, she would’ve been a statistic. That’s what we’re seeing is the trend, the two to five years is that critical point. And also from a business standpoint, that individual, that employer would’ve lost a really great employee, someone who loved what she did, but couldn’t figure it out. And it wasn’t just the education, education was a component, but it was also really reflecting on the mindset element. And so once Corrine kind of got closure over that, the thing, and I remember this so vividly, Corinne was the big component and the big takeaway for you was again, around income, like learning how to make money.

(21:12):
And it was using the framework that we teach, which is two numbers to build your books, client count and average ticket. Those are the only two numbers multiplied together that equal total sales. And so she also started utilizing this tracker. That was a huge thing. Corinne started religiously tracking her income. And by the way, I’ll give you guys my details after this, but we can send you this tracker if you want to. This is a great tool to practice tracking these numbers on the floor. So that’s just a really valuable tool as well. So that’s really a story on the money in component now. Thank you Corinne, so much. I want to flip to Michael. Michael is a leader at Inspire Greatness. Michael, you can come off camera if you’d like. He works with many students. He’s also a community ambassador. Michael, remind me of your official title.

Speaker 4 (22:02):
So I have a few at the institute. I am an educator, cosmetology educator. I’m a digital brand director and a education director for a group of salons called Center Salons. And I’m the global brand ambassador for a hair brand called Braids and Freckles. So I’ve got a little bit, I don’t have children or pets, so that’s why

Speaker 2 (22:21):
Michael’s is a lot in the industry and I love it. And you guys, if you don’t follow him on Instagram, you absolutely should. There’s so much amazing content that you post and share, which I love. I love just following your journey, Michael. So Michael, when I was reflecting on your story, there was really kind of two nuggets for you that came out. It was one, the big takeaway for you as an educator bringing this curriculum was emergency funds, emergency funds, emergency funds, and just having liquid reserves. And one of the things I thought was really interesting with your story was you were raised with a bit of financial acumen, right? But never were you educated on, hey, we need to save money in a fund that is just for emergencies, which to most of us may or may not feel like a foundational component. And then the second area that you really had a change and a reframe on was entrepreneurship, which is the topic we talk about. And I’m going to show you guys momentarily about the different types of entrepreneurs. Someone can be in the beauty industry. So I’d love for you just to share your overall story before learning this information and then kind of where you are today.

Speaker 4 (23:26):
Thank you so much. I’m so excited to be here with you guys. So yes, through those different titles, I started the beauty industry 10 years ago at 18 years old. I actually was a student at this school that I currently teach for and I’ve been here teaching for seven years, so it’s a full wraparound moment. Growing up, I did have a degree of financial literacy. My grandma is a banker, so she taught me ideas of saving interest and being able to invest your money wisely, but she was able to give me her education and maybe not segue over to the beauty community in that sense. When I was 18 and met with my high school counselor to let him know I was coming to beauty school, he told me how much he loved the school that I was going to, but told me I would never make more than $30,000 a year.

(24:05):
And at 18 years old, that stressed me out immediately and I was just like, but I had this very entrepreneurial mindset of wanting to make more and create more. And so it made me very nervous and coming to school 10 years ago, I made some of you can relate, let me know in the chat, there was no sort of financial literacy program or understanding of business in my cosmetologist school at the time. And I don’t think that’s a dig, it just wasn’t maybe at that rate in society yet, but it absolutely should have been. I continued my entrepreneurial mindset and worked and just created what I have. But once we brought community to inspire greatness in the schools, I was so inspired and proud to be able to give this to students that are currently in the beauty industry to just set them up for success.

(24:47):
Things like we talked about emergency savings funds or understanding there are three different types of entrepreneurship or what a p and l is. I didn’t understand or even know any of that. Even as I was learning my career, I had a lot of hiccups and hurdles in between and it was a great learning process, but I wish I had something tangible and something to actually reflect on to help me in that way. And so it really inspires me to be able to teach the students and give them more financial literacy to be comfortable with where they’re at now and how to grow it. I think that’s the biggest thing as well. Where’re so motivated perhaps by money or just success or just creating a comfortable lifestyle. It can get jaded by that idea of just being comfortable and being able to work with what we have.

(25:25):
And the CUNY program really does a lot of things like that. For example, emergency savings funds, I never thought about that, but as you become an adult starting at 18 and realizing there’s so many other things to be responsible for besides just you as a person, those things are very important. Or understanding of p and l for a business, or am I a solopreneur or am I an entrepreneur or what is my goals? It definitely changed throughout my last 10 years of my career and they pivoted to different accesses. So this financial literacy program’s not only helped my career now, which I love that Aaron brought up the statistic of even current educators may have a struggle with it. I brought it to my whole entire team, the community program, and so many were thankful and had so much gratitude to it because they just haven’t had an education platform to also help them teach in financial literacy, which obviously makes our education team even more confident and grounded when teaching it to our students.

Speaker 2 (26:14):
Amazing. And so entrepreneurship for you, Michael, we teach in the money in module, and this is something a really great framework for all of you guys to take back is everyone we hear is like everybody wants to be open their own business and students are really coming in wanting to open their business. How does this framework, when we showcase, okay, there’s pros and cons of each of these, and so I’m just going to walk through these really quick. An intrapreneur is defined as someone working within the structure of an existing business. So a hairdresser working in an existing salon like Corinne was doing, an entrepreneur as we define it, is a business owner with staff or with employees. And then a solopreneur is a business of one. So that would be someone maybe doing booth rental or freelancing or doing their own thing. There is a ceiling. And so we go through the financial pros and cons of each of these and it’s very interesting for me and Michael, I’m curious if you’ve had seen any mindset shifts when we go through what it means financially for each of these different areas, the answers change pretty dramatically once there’s just a little bit of education. Is that consistent with what you’ve seen?

Speaker 4 (27:19):
Yes. And I think also realizing that there’s aspect you could be multiple at one time or filling, it changes throughout your path. I have found myself in one of these categories, all three of them at the same time or two at one time. And so it makes it tangible to be able to relate to my students. But the idea of booth renting and just owning your business, but maybe having it, that one man thing, it’s definitely something that’s well talked about. And people are very excited to own their own business and be their own boss, but don’t have a team necessarily. So actually being able to talk about solo entrepreneurship and what that looks like, I think connects the dots quicker for students and gives them more motivation for their one year, five year tenure plans.

Speaker 2 (27:54):
Yeah, for sure. Michael, thank you so much. Thanks for being here.

Speaker 4 (27:57):
Thank you everyone for letting me join. I appreciate it.

Speaker 2 (28:00):
You’re so welcome. We’re honored to have you, Michael. Here’s a simple visual too of how we really speak to these concepts of entrepreneurship. So feel free to take a picture of this. I think this is really helpful to use in the classroom. So again, it’s all about the financial risks and realities, right? Just because you’re a solopreneur, sure you may make more money, but there is more expenses coming out. Not to mention the shifting in focus and responsibility. Same with an entrepreneur. Any business owner in here knows the expenses increase as well as the income streams increase as well too, but there’s a lot more responsibility. And so it’s just a helpful visual to really showcase and explain the different realities because without financial education and without the proper information, students and individuals are getting their information from other sources if they’re not getting it from you.

(28:51):
A lot of times social media and TikTok too, which sometimes is great, sometimes it’s not. And I love this quote, and this is something we really use at community quite a bit, and it’s in the absence of information, people make up their own stories. We’ve seen that societally and with different stakeholders really having this belief that you can’t make it in the beauty wellness career or in a beauty and wellness career. And as Michael said, you’re only going to make $30,000 a year or whatever it may be. And so I would challenge you to also reframe this quote to really empower what you guys do every single day is in the absence of information, people make up their own stories and they also sometimes live out their own stories. And with just a little bit of education, we can really make such a drastic impact on the future trajectory of someone’s career.

(29:39):
I mean, Corinne is a perfect example of that. Michael and his students are a perfect example of that as well too. And so I am one minute away from my wrap up. So this was just hopefully just a nugget and I hope you got some takeaway that you can utilize in your school with your students. Please do stay connected with me. I do try to post quite a bit of what we’re doing on Instagram, and I’ll showcase all of our different Instagrams as well too in the chat box. So if Corin or someone from the team could put the community for school Instagram in here, that would be great. And please DM me. People have different styles of communication. That’s a great way to reach me or email as well too, which I put in the chat box. And if you are not a Money EED U School, we do have a 3.0 version coming very soon and it is really good.

(30:26):
And we’ve brought in some really exciting updates to this edition. So if you’re already a community school, this will just be updated later in the year and you’ll get more notifications. And this is also a great time to start to bring this into your students if you don’t have a financial literacy curriculum now. So what I did today is I just pulled a few nuggets. When we talk money stories, we’re really talking about money mindset, and then some of the transformations we talked about were around money in and also money saves that you heard from Michael. And so we’re trying to ultimately change behaviors here for educators and students, which is empowering them with their money in as a service provider, helping them to manage their expenses and to spend on things that they really value, decrease or eliminate debt, improve credit score, and then of course increase their savings rate.

(31:11):
Because one of the things we see on the business side of things is professionals are just not prepared financially and we really need to help them do so. And then there’s of course the intangible, which is helping to increase the industry’s overall financial literacy, confidence and peace of mind. So as a closing, I know I’m one minute over, I’m so sorry Zel team, but please scan this QR code. We’re trying to do more webinars and opportunities for you and your students to experience some of the community methodology. So on June 10th at 3:00 PM Central Time, we’re doing a special session which is all about fast tracking to building your first a hundred K through clients. And we teach four different categories and really teach the power of asking and how to ask and who to ask because it can be super overwhelming for students. So this is free for anyone who’s attending.

(31:58):
You can just scan the QR code and I hope you can join us there. I’ll leave this up for one moment if everyone got it, and then just email or DM us if you’ve got questions. But if you’d like to continue just more information for yourself or for your students, we do post a ton of episodes on Money oh two the podcast. So we’ve got some really incredible guests. Recently I just had someone who’s a nonprofit that really specializes in Gen Z and millennial finance. So that’s a really great episode that’s coming soon. I have an investor from Morningstar talking about retirement if anyone’s in that stage and what to do in the economic climate. So there’s tons of content on there for you. So with that being said, I am two minutes over my slot. Thank you so much to the Oel team for having me, and I am super grateful to meet all of you, and I hope to meet you in person and I hope to be a resource for you, your students, your educators, and your team.

Chris:
Thank you Erin, so much. Hey, I want stay on with me for a minute.

Erin:
Oh yeah,

Chris:
Everybody put in the chat some of the takeaways that you got from Aaron’s session. I know for me, some of these stats were kind of shocking and kind of scary and concerning, but just hearing the stories with a little bit of education, really how it can turn around, and even the stats and the data on just actually how much money professionals are making. And I dunno, it’s just such a cool industry if you’re working full-time, awesome earning potential, even just around part-time, fantastic too. So these are the stories that politicians and people need to know. And so we’re grateful for community in bringing this to the industry. So in about an hour from now, we’re going to be doing some more.