Description

Are you ready to rethink how young people approach money and build lasting financial confidence? Welcome to Credit Union Conversations, hosted by Mark Ritter, CEO of MBFS, a business lending CUSO serving clients across the United States and Puerto Rico. In this episode, Mark is joined by Todd Romer, who partners with credit unions to leverage his "Do Money Differently" financial education approach as a powerful tool to attract younger members. With paycheck-to-paycheck living at a record high of nearly 75% and rising, Todd’s strategy challenges traditional financial advice, focusing on practical, transformative steps for young adults. Today, they’ll dive into Todd’s journey with Young Money University, the unique advantages credit unions offer, and actionable insights on investing and avoiding college debt traps.

IN THIS EPISODE:

• (00:00) Intro
• (01:39) Todd Romer discusses Young Money University
• (05:20) Credit unions offer named savings accounts to save purposefully 
• (09:36) You don’t have to be an expert, start with a platform like Acorns
• (11:13) Upbringing shapes our money habits, set up a college budget and discuss career goals and costs
• (21.57) How to start investing in the stock market and its historical 10.2% annual return 

KEY TAKEAWAYS: 

• Early exposure to investing shapes lifelong financial habits. To foster enduring financial confidence, begin teaching teens about money and investing. Providing young people with targeted financial education, emphasizing a distinctive approach to money management, is essential.
• Credit unions should emphasize their unique benefits, like named savings accounts, to attract younger members.
• Guide high schoolers to consider affordable education paths and discuss financial realities early to avoid debt. College debt is a growing concern, with many students unaware of cost-effective options.

RESOURCE LINKS

Mark Ritter - Website

Mark Ritter - LinkedIn

Young Money University - Website

BIOGRAPHY:

Todd Romer is passionate about financial education. He has helped thousands of people take on a new lease of life by providing them the exact steps to dream, save, spend, invest and give money DIFFERENTLY to reach goals/dreams.  Todd also partners with credit unions to use DO MONEY DIFFERENTLY financial education as their most valuable marketing tool to drive younger membership growth.