Financial wellness hub, Our Money Matters (OMM) stops in the Bayou City for its “Funny Money College Tour “ to bring a blend of comedy and financial literacy to students at the University of Houston for the first time.
In partnership with Wells Fargo, OMM collaborated with HBCU’s and minority-serving institutions (MSI) nationwide to empower and connect students with the resources to achieve financial stability and create generational wealth.
The event was hosted by nationally syndicated Morning Hustle radio show host HeadKrack introducing a major lineup of comedians and financial experts including Dallas native B. Simone, Brian “B-Tidy” Tidwell, Co-Host Incognito, Larese Purnell, Ash Cash, and Dippo Bello, the chief financial officer of United National Bank of Houston.
“For me being a person of color born and raised in El Paso Texas, if I were to learn at a young age about the various opportunities from experts presenting facts to me in a fun and entertaining way I can imagine how far I would be in building generational wealth,” said Arcy Muñoz, Vice President of Community Relations for the Greater Houston Market at Wells Fargo.
“Considering our audience and the age range, we wanted to do something different as a way for students to be more open to receiving the information and walk away with tips that they will apply.”
University of Houston graduate student, Merap Omoregie came to the event to win cash prizes, but walk away with the resources need to manage finances. “Coming from undergrad and not understanding my credit score and budgeting as a student was a big struggle for me. I’m about to graduate in a year and a half so I need to be prepared,” she said.
“For us people of color, the one major lesson I took away from this event is ownership. We have to bridge this wealth gap.”
Comedian, actress and entrepreneur B.Simone talked about her humble beginnings of working a job that paid her “$15 a day.” She challenged the audience to live a “Lit life” with “Love, intention, and truth.”
“Live your life for your future self, don’t live life for the moment. I’m 31. I need to be living for the 40-year-old- B.Simone.”
The panel of experts ended the live discussion with a few major key recommendations that all college students should walk away with.
- Invest: Buy Assets that will pay for your liabilities
- Turn your phone into a money-making and saving tool
- Listen to financial podcasts
- Affirm your short-term and long-term goals
- Aim for an 800 credit score
- Use Credit Karma to monitor your credit score
- Use credit cards for your needs and not your wants
- Download and research the use of the Robinhood, Acorn, Coinbase, MINT, and WeBull Apps
Over the next three years, OMM will engage 25 HBCU and MSI, equipping an estimated 40,000 students and community members with access to emergency financial assistance, personalized tools for managing finances, and students loans, stated in a press release.
Funny Money College Tour will make its final stop at Bowie State University in Bowie Maryland on Dec. 9.