Life insurers are committed to supporting financial education throughout America. Many Americans today struggle with gaining confidence and control over their everyday money decisions. One-third of financial inequity in the United States could be accounted for by the differences in financial literacy.
That’s why America’s life insurers are engaging in concrete steps to achieve greater economic empowerment through financial education with ACLI’s Economic Empowerment and Racial Equity Initiative.
One example is Thrivent’s Money Canvas service, which offers free one-on-one coaching to help people build healthier budgeting, saving, and spending habits. As a complimentary Thrivent program, Money Canvas is accessible to anyone seeking financial clarity.
At Thrivent, we believe everyone deserves a plan that helps them achieve their most important goals in life. Through three unique guided and personalized coaching sessions, Money Canvas participants discover foundational money lessons, reflect on current tendencies, and walk away with a plan to turn lessons into action. The ultimate goal of the service is to help participants find creative ways to spend less so they can put more money toward financial priorities, such as building emergency savings and reducing debt.
The pandemic has reinforced the importance of rebuilding financial foundations. Since the COVID-19 pandemic hit, nearly two-thirds of Americans reported living paycheck to paycheck. In 2020, Money Canvas quickly transitioned to providing virtual sessions allowing us to help more adults and their families take steps to achieve financial clarity and develop a healthy relationship with money.
Money Canvas is now serving people in communities across the country and is offered in English and Spanish. The program initially started as a small pilot program in San Antonio, TX with a specific focus within the Latino community. Upon seeing the impact on the Latino community, Thrivent expanded Money Canvas to all adults in the United States. This grassroots program is designed for meaningful social impact and relies on word of mouth, referrals, and community partnerships.
The life insurance industry believes everyone, no matter their age, job, income, gender, or race, deserves the opportunity to build financial certainty that will serve them in the good times and protect them in the hard times. Through programs like Money Canvas, we will help build financial clarity for American families from coast-to-coast.
Kelley Kahler is Director of Thrivent’s Money Canvas program.
