Wanda Durant, mother of NBA legend Kevin Durant, shares her wisdom around how service can promote financially healthy communities
Wanda Durant knows first hand about struggling.
Before Kevin Durant was a household name, MVP and NBA champion, he was a son being shepherded by a financially challenged, yet strong and determined, single mom. I got an opportunity to hear Wanda's story and discuss how corporations and individuals can serve underserved communities.
Her recommendation around how financial services leaders can uplift financially strapped individuals and families in the immediate-term was simple, yet direct. "You have to meet people where they are. You may need to start off by buying them groceries if they're hungry." Here is Wanda's wisdom around how we can serve those who experience financial challenges:
1) Understand the correlation between personal finance and self-worth - "There has to be a shifting of the mindset. I couldn't let my clothes and shoes define me any longer"
2) Recognize the role "Mode of Survival" plays in establishing wealth - "I had to move from always being in a 'mode of survival' with money to learning how to plan"
3) Develop building blocks for a solid financial education - "The financial services community needs to be in this for the long haul, when it comes to helping families. After financial services firms understand the mind set and meet people where they are, then they can teach wealth generation, teach what a 401k is and what a trust fund is etc. That is what empowers people."
Will you commit to help empower one person in your community today? What are your recommendations for engaging communities more broadly around personal finance? I look forward to hearing from you.