It's almost time to relaunch

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I am excited to share that FinMango is embarking on a new journey, with a new focus on something more. Something bigger.

FinMango is on a mission to solve complex problems that endanger the financial health of young adults in transition. We believe in financial equity for all.

As an organization, we will no longer be a player in the crowded financial education world. Instead, our work will focus on the complex context of young adults globally and their financial health. More specifically, it will target the stability of young adults during times of life transitions and financial shock.

Why financial health?

Too many people struggle to manage their daily financial lives–especially young adults. Interestingly, this struggle does not just apply to low-income households or certain geographic areas. In fact, according to CNBC, 56% of Americans can’t cover a $1,000 emergency expense with savings.

Good financial health can change everything. But what is financial health? “Financial health or wellbeing is the extent to which a person or family can smoothly manage their current financial obligations and have confidence in their financial future. The elements that shape a person’s financial health include:

• Day to day: Smooth short-term finances to meet financial obligations and consumption needs.
• Resilience: Capacity to absorb financial shocks.
• Goals: On track to reach future goals.
• Confidence: Feeling secure and in control of finances.” (UNSGSA)

We’re just at the beginning of this journey and we can’t wait to share our plans to achieve our new mission and vision. If you're like me, you are even more eager to get involved. Here's how:

• For questions about the strategic planning process itself–what we have done, what we have learned and where we are heading, reach out to Katherine (katherine@finmango.org).
• If you’re as excited as we are about FinMango’s future and want to help once we roll out our strategic plan, let Bruna (bruna@finmango.org), Kaylei (kaylei@finmango.org) or any of us know.
• If you’re curious about the design and strategic theory behind our planning process, contact Chris (chrisashannon@gmail.com).

I’m so excited for the future of FinMango and can’t wait to support young adults during life transitions and financial shocks.

Stay tuned for more news about our new launch date: July 22nd – National Mango Day.

References:

https://www.cnbc.com/2022/01/19/56percent-of-americans-cant-cover-a-1000-emergency-expense-with-savings.html

https://www.unsgsa.org/sites/default/files/resources-files/2021-09/UNSGSA%20Financial-health-introduction-for-policymakers.pdf