Financial disparities are deep-rooted and growing, creating barriers to financial well-being. Just like health, financial security requires access to good jobs, education, and affordable housing. Financial health equity means creating a level playing field where everyone, regardless of background or income, has the opportunity to thrive financially.
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Our physical, mental, and financial well-being are not separate compartments but rather deeply interconnected. Chronic health issues can worsen mental health and strain finances, while mental struggles can manifest physically and disrupt financial stability. Financial worries contribute to stress, negatively impacting both physical and mental health. FinMango's work focuses on the financial health component of an individual's overall well-being.
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The potential to positively impact health equity is an opportunity. Here are a few examples of how FinMango is helping to advance health equity.
We are expanding the use of open data and artificial intelligence (AI) in research. In collaboration with academics, we're conducting open-access, foundational research to track real-time financial health markers tied to food, housing, and healthcare access. This data will empower policymakers and organizations to develop swift and equitable solutions, ultimately fostering financial well-being for all.
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We are amplifying the voices of young people globally. Our Ambassador program strengthens a global understanding of what financial health means across the world. In addition, it empowers young adults to amplify voices and drive change in their communities. Alongside our Ambassadors, we plan to organize petitions and campaigns, demanding equitable policies and promoting financial well-being for all.
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We are empowering young people in Ohio to take charge of their futures. We equip students from 25+ schools with the knowledge and confidence to make informed decisions early on, paving the way for long-term financial well-being. This approach helps dismantle generational cycles of financial disparity and fosters a future where young people have a fair shot if/when given the opportunity to save and invest.
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