April 18, 2023 • 10 mins
Stl City Treasurer Adam Layne stopped by to talk to Host BeeJay and Co Host Stacey Goodman about Financial Literacy Month (April). Shared Tips and resources to start journey of financial freedom.
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Episode Transcript
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(00:00):
Heartfeat Saint Louis with a K APig Holiday, bringing you the pulse of
the city as we continue our conversationfor today. This month is actually financial
literacy month, and in the studioright now, I got one of my
good friends from the Treasure's office.He is the Saint Louis City Treasurer.
(00:26):
My man, mister Adam Lane.What's up? Man? I'm doing great?
How are you? I'm doing good? And today I just thought I
would just throw you know, misterLane for a loop. I got my
new Uh. I think I mightto start calling her my co host.
Oh yeah, they felt like Ineeded a co host anyway, missus.
Stacy Goodman is in the building.What's up, Stacey? What's up?
(00:48):
I'm glad to be here and youright co host? Sound real good anyway,
Adam Lane? Uh, this monthis a financial literacy month. And
uh, before we get into that, how's it going as the same lord
Treasure? It's going great. Sothis week will be my official second year
in the role, So from Aprilof twenty twenty one to April of twenty
(01:11):
twenty three, so two years.I think I'm learning and doing an okay
job. We still have money.So I always say we still got money
at the city. Yeah, okay, so you still got a little money.
You still got a little money.Don't ask me to hold a dollar,
but yeah, yeah, But youknow it doesn't matter. Man,
if it's a dollar, you're you'rein the positive moting you're in the negative.
You know what I'm saying. Butanyway, man, financial Literatury month,
(01:34):
Why is it important that people takecare of their finance? Absolutely so.
Your financial health is just as importantto you as your physical health.
So if you're not able to makemoves financially, support your family, yourself
financially, life gets very very hard. So it gets very difficult. But
being able to wrap your mind aroundyour finances, being able to manage your
(01:57):
finances in a responsible way helps youlive a better quality of life. And
we know, at least you know, having generational wealth, if you want
to start a business, if youwant to buy a car, all these
things are necessary for your financial health. Okay, I definitely think it's necessary
and I need a lot of help. So if you're someone who is just
not good with money, what typeof tips can you give us to be
able to save money and maybe savemoney for the future for our kids.
(02:21):
Absolutely. So I got three tipsfor you. The first tip would be
to set a goal. So ifyou want to do anything, I always
say, set a goal, startingwith how much you want to save.
So set a goal. Be realisticwith your goal, but figure out how
much you want to save. Ithink a lot of people they just say
I'm going to save this year,and they start saving, and then they
might save two hundred dollars. Youmight save two thousand dollars. But then
(02:44):
they go in blow that money orthey feel like they're not doing as much
as me should do. Oh that'sI blow it. I'm like, oh
I got two thousand. Oh yes, I'm getting some shoes. So yeah.
So people don't set a goal forit, so sometimes they don't keep
up with it because they don't knowthat they don't know what they actually aiming
for. So set a goal.Know what you want to accomplish and why
you want to do it. Somaybe you do want to save up two
(03:04):
thousand dollars or some shoes or hopefullytwenty pairs of shoes, but maybe you
want to save that up. Butthat's okay, all right, what's that
half of shoe? So yeah,so you want to set that goal first.
The second thing is make a plan. So if if you want to
save two thousand dollars, will keepgoing with that. Does that have to
happen next month? Does that haveto happen next year? So a lot
(03:28):
of people get discouraged when they say, all right, don't want to save
two thousand dollars, and then acouple of months go by and say,
well I have two hundred dollars.What's going on? But they never set
a goal to say I'm going tosave a hundred dollars a week, or
I'm gonna not eat fast food threetimes a week, or I'm gonna make
sure I get my groceries, thingslike that, because you have to make
smart decisions with your goal. Soset a goal, but also make a
(03:49):
plan that works. And then thethird point I would say is that it's
never too earlier too late. Soeven if you set that goal, you
have a plan and then you falloff, just reevaluate and say all right,
I knew what I was trying todo didn't work out at first,
but I can go back and reevaluatemy plan. So it's never too earlier
too late to start. We startwith our college kids programming in kindergarten,
(04:09):
so we're talking to kids about savingand spending and being smart money managers.
So no matter if you're in goodfinancial space, a bad financial space,
good credit, bad credit, alwaysstart with saving a goal. So a
lot of people do it at thebeginning of the year with the resolution,
Hey it's April right now, youcan start. You can start today.
And then a bonus tip that Iwould say too is get help. There
(04:29):
are people out there who will helpyou for free. So there's a lot
of help out there to help youeither set those goals or reach the financial
the financial vision that you have foryourself. So you said, you know,
get help, Where would I gethelp? If I mean I'm going
Google, of course, but Idon't know who's who? What do you
recommend? Who do you recommen up? Yeah, so people have different levels
of comfort and finding help. SoI would say the easiest thing to do,
(04:53):
there's a lot of information out there. You can go on YouTube and
if you're a little old school,go to the library. There are books
on financial health, so you canread something first or watch something a fifteen
minute video, a three minute videothat can teach you a little bit about
saving or what is credit or howdo I access my credit score? So
these are things that you can see. What's a budget so you can get
(05:14):
familiarity with it, because sometimes talkingto someone one on one might be a
little intimidating. But if you're readyto make that step, you can come
to our office. So we haveone on one financial well being counseling and
it's free. You show up orset up appointment online, someone will meet
with you, pull your credit score. We have people who are older than
all of us in this room who'venever seen their credit score before, so
(05:34):
we pull that for you and itdoesn't put hits on your credit, but
you can see that and know what'son there and make smarter decisions about what
you do. And then lastly,you can go to a bank. So
you can go to a bank thatyou trust, a credit union and there
are people there who will sit downwith you discuss your finances and give you
some tips to So Saint Louis Cityactually offers the one on one help absolutely.
(05:57):
How do you how do you setappointment for that? And what's the
website think so you can visit wwwdot stl o fe I forgot our west
www dot STLOFE dot org UM andthat OFE stands for Office of Financial Empowerment
(06:17):
and you can visit that website.You can click on one on one financial
coaching and you can set up anappointment with our financial well being coach.
Right now, I got a questionfor you, UM, say, you
know a lot of people, areyou know, um having problems because somebody
get into their credit and then theywant to put something in their name.
(06:41):
Now, talk about how do youfreeze your credit? You know about that?
Yeah, so I can definitely talkabout it. Yeah, how do
how do you how do you freezeyour credit? Yeah? And you know,
so what you can do is,first you gotta get your credit report
to know what's on it. Soyou might have accounts in your names that
you didn't even know you had,right, so I to recommend getting that
first. And then we all havesubscriptions. One of the things that you
(07:03):
can pay for. You can getusually a free trial version for a year
or pay ten dollars for the year, and Equifax and other places like that
will monitor your credit, so you'llget alerts for a year in case someone
opens up something on your account.If there's a balance change anything like that.
So getting familiar with technology that's goingto help you actively monitor your account
(07:26):
so you know what's going on.And then also, like I was saying
in our office with the one onone counseling, we will look at your
report and help you to dispute thingslike that. And there are free legal
services to help you dispute things andcancel those things as well. All right,
Well, anyway, if in factorI am sitting here trying to figure
(07:50):
out, how do I start tosay? I know you said, you
know, it's not too late.What is is what is a goal to
set? You know what I mean? I mean, is it okay to
say I'm gonna save a nickel aweek? I think it depends on your
goal. So I said, tomake that goal realistic. Right, So
(08:11):
if I want to if I wantto save two hundred dollars by the end
of the month, it's a nickela week gonna get me there? Probably
not, So that either means twothings, I need to save more than
a nickel, or I need tochange my goal from two hundred dollars,
right, I mean, you know, I mean because some people two hundred
dollars is a lot. Yes,you know what I mean. Yeah.
So I'm saying this because when peopletalk about goals and saving money, Oh,
(08:37):
I'm gonna save about ten thousand dollarsright, Come on, No,
that's very true. So and youknow, actually making mistakes. I like
to learn from mistakes, so andI think everyone should as well. So
that is a good mistake. Ifthat's your first time setting a goal or
creating a budget, those mistakes helpbecause then you know, all right,
(08:58):
maybe it's not You get to rework and retool. Maybe I can't say
ten thousand dollars in January on mytwo thousand dollars paychecks, So maybe I
can't do that. Maybe my expensesare larger. But they're able to see
what is realistic and then be ableto dial it down. Oh right now,
if people want to get more information, where do they go? So
if people want more information, youcan reach out to us on social media.
(09:20):
We are on Facebook, Twitter,and Instagram. Our website is again
www dot STLOFE dot org on FacebookWhere are the Office Financial Empowerment? You
can send us a direct message.You can go visit my page stl Treasure
that's a name on across all theplatforms and on Instagram, Adam Leo Lane,
(09:43):
and we'll get you set up andget you some help and your kids
too, because we want to makesure the babies know how to how to
manage their finances. To all right, well, Adam Lane, say,
Louis City treasure is always a pleasurehaving you coming in. Man, thank
you so much. I appreciate it. Thank you our feet St. Louis
with bj J A K a PGholiday bringing you the pulse of the city. H
Heartfeat Saint Louis with a K APig Holiday, bringing you the pulse of
the city as we continue our conversationfor today. This month is actually financial
literacy month, and in the studioright now, I got one of my
good friends from the Treasure's office.He is the Saint Louis City Treasurer.
(00:26):
My man, mister Adam Lane.What's up? Man? I'm doing great?
How are you? I'm doing good? And today I just thought I
would just throw you know, misterLane for a loop. I got my
new Uh. I think I mightto start calling her my co host.
Oh yeah, they felt like Ineeded a co host anyway, missus.
Stacy Goodman is in the building.What's up, Stacey? What's up?
(00:48):
I'm glad to be here and youright co host? Sound real good anyway,
Adam Lane? Uh, this monthis a financial literacy month. And
uh, before we get into that, how's it going as the same lord
Treasure? It's going great. Sothis week will be my official second year
in the role, So from Aprilof twenty twenty one to April of twenty
(01:11):
twenty three, so two years.I think I'm learning and doing an okay
job. We still have money.So I always say we still got money
at the city. Yeah, okay, so you still got a little money.
You still got a little money.Don't ask me to hold a dollar,
but yeah, yeah, But youknow it doesn't matter. Man,
if it's a dollar, you're you'rein the positive moting you're in the negative.
You know what I'm saying. Butanyway, man, financial Literatury month,
(01:34):
Why is it important that people takecare of their finance? Absolutely so.
Your financial health is just as importantto you as your physical health.
So if you're not able to makemoves financially, support your family, yourself
financially, life gets very very hard. So it gets very difficult. But
being able to wrap your mind aroundyour finances, being able to manage your
(01:57):
finances in a responsible way helps youlive a better quality of life. And
we know, at least you know, having generational wealth, if you want
to start a business, if youwant to buy a car, all these
things are necessary for your financial health. Okay, I definitely think it's necessary
and I need a lot of help. So if you're someone who is just
not good with money, what typeof tips can you give us to be
able to save money and maybe savemoney for the future for our kids.
(02:21):
Absolutely. So I got three tipsfor you. The first tip would be
to set a goal. So ifyou want to do anything, I always
say, set a goal, startingwith how much you want to save.
So set a goal. Be realisticwith your goal, but figure out how
much you want to save. Ithink a lot of people they just say
I'm going to save this year,and they start saving, and then they
might save two hundred dollars. Youmight save two thousand dollars. But then
(02:44):
they go in blow that money orthey feel like they're not doing as much
as me should do. Oh that'sI blow it. I'm like, oh
I got two thousand. Oh yes, I'm getting some shoes. So yeah.
So people don't set a goal forit, so sometimes they don't keep
up with it because they don't knowthat they don't know what they actually aiming
for. So set a goal.Know what you want to accomplish and why
you want to do it. Somaybe you do want to save up two
(03:04):
thousand dollars or some shoes or hopefullytwenty pairs of shoes, but maybe you
want to save that up. Butthat's okay, all right, what's that
half of shoe? So yeah,so you want to set that goal first.
The second thing is make a plan. So if if you want to
save two thousand dollars, will keepgoing with that. Does that have to
happen next month? Does that haveto happen next year? So a lot
(03:28):
of people get discouraged when they say, all right, don't want to save
two thousand dollars, and then acouple of months go by and say,
well I have two hundred dollars.What's going on? But they never set
a goal to say I'm going tosave a hundred dollars a week, or
I'm gonna not eat fast food threetimes a week, or I'm gonna make
sure I get my groceries, thingslike that, because you have to make
smart decisions with your goal. Soset a goal, but also make a
(03:49):
plan that works. And then thethird point I would say is that it's
never too earlier too late. Soeven if you set that goal, you
have a plan and then you falloff, just reevaluate and say all right,
I knew what I was trying todo didn't work out at first,
but I can go back and reevaluatemy plan. So it's never too earlier
too late to start. We startwith our college kids programming in kindergarten,
(04:09):
so we're talking to kids about savingand spending and being smart money managers.
So no matter if you're in goodfinancial space, a bad financial space,
good credit, bad credit, alwaysstart with saving a goal. So a
lot of people do it at thebeginning of the year with the resolution,
Hey it's April right now, youcan start. You can start today.
And then a bonus tip that Iwould say too is get help. There
(04:29):
are people out there who will helpyou for free. So there's a lot
of help out there to help youeither set those goals or reach the financial
the financial vision that you have foryourself. So you said, you know,
get help, Where would I gethelp? If I mean I'm going
Google, of course, but Idon't know who's who? What do you
recommend? Who do you recommen up? Yeah, so people have different levels
of comfort and finding help. SoI would say the easiest thing to do,
(04:53):
there's a lot of information out there. You can go on YouTube and
if you're a little old school,go to the library. There are books
on financial health, so you canread something first or watch something a fifteen
minute video, a three minute videothat can teach you a little bit about
saving or what is credit or howdo I access my credit score? So
these are things that you can see. What's a budget so you can get
(05:14):
familiarity with it, because sometimes talkingto someone one on one might be a
little intimidating. But if you're readyto make that step, you can come
to our office. So we haveone on one financial well being counseling and
it's free. You show up orset up appointment online, someone will meet
with you, pull your credit score. We have people who are older than
all of us in this room who'venever seen their credit score before, so
(05:34):
we pull that for you and itdoesn't put hits on your credit, but
you can see that and know what'son there and make smarter decisions about what
you do. And then lastly,you can go to a bank. So
you can go to a bank thatyou trust, a credit union and there
are people there who will sit downwith you discuss your finances and give you
some tips to So Saint Louis Cityactually offers the one on one help absolutely.
(05:57):
How do you how do you setappointment for that? And what's the
website think so you can visit wwwdot stl o fe I forgot our west
www dot STLOFE dot org UM andthat OFE stands for Office of Financial Empowerment
(06:17):
and you can visit that website.You can click on one on one financial
coaching and you can set up anappointment with our financial well being coach.
Right now, I got a questionfor you, UM, say, you
know a lot of people, areyou know, um having problems because somebody
get into their credit and then theywant to put something in their name.
(06:41):
Now, talk about how do youfreeze your credit? You know about that?
Yeah, so I can definitely talkabout it. Yeah, how do
how do you how do you freezeyour credit? Yeah? And you know,
so what you can do is,first you gotta get your credit report
to know what's on it. Soyou might have accounts in your names that
you didn't even know you had,right, so I to recommend getting that
first. And then we all havesubscriptions. One of the things that you
(07:03):
can pay for. You can getusually a free trial version for a year
or pay ten dollars for the year, and Equifax and other places like that
will monitor your credit, so you'llget alerts for a year in case someone
opens up something on your account.If there's a balance change anything like that.
So getting familiar with technology that's goingto help you actively monitor your account
(07:26):
so you know what's going on.And then also, like I was saying
in our office with the one onone counseling, we will look at your
report and help you to dispute thingslike that. And there are free legal
services to help you dispute things andcancel those things as well. All right,
Well, anyway, if in factorI am sitting here trying to figure
(07:50):
out, how do I start tosay? I know you said, you
know, it's not too late.What is is what is a goal to
set? You know what I mean? I mean, is it okay to
say I'm gonna save a nickel aweek? I think it depends on your
goal. So I said, tomake that goal realistic. Right, So
(08:11):
if I want to if I wantto save two hundred dollars by the end
of the month, it's a nickela week gonna get me there? Probably
not, So that either means twothings, I need to save more than
a nickel, or I need tochange my goal from two hundred dollars,
right, I mean, you know, I mean because some people two hundred
dollars is a lot. Yes,you know what I mean. Yeah.
So I'm saying this because when peopletalk about goals and saving money, Oh,
(08:37):
I'm gonna save about ten thousand dollarsright, Come on, No,
that's very true. So and youknow, actually making mistakes. I like
to learn from mistakes, so andI think everyone should as well. So
that is a good mistake. Ifthat's your first time setting a goal or
creating a budget, those mistakes helpbecause then you know, all right,
(08:58):
maybe it's not You get to rework and retool. Maybe I can't say
ten thousand dollars in January on mytwo thousand dollars paychecks, So maybe I
can't do that. Maybe my expensesare larger. But they're able to see
what is realistic and then be ableto dial it down. Oh right now,
if people want to get more information, where do they go? So
if people want more information, youcan reach out to us on social media.
(09:20):
We are on Facebook, Twitter,and Instagram. Our website is again
www dot STLOFE dot org on FacebookWhere are the Office Financial Empowerment? You
can send us a direct message.You can go visit my page stl Treasure
that's a name on across all theplatforms and on Instagram, Adam Leo Lane,
(09:43):
and we'll get you set up andget you some help and your kids
too, because we want to makesure the babies know how to how to
manage their finances. To all right, well, Adam Lane, say,
Louis City treasure is always a pleasurehaving you coming in. Man, thank
you so much. I appreciate it. Thank you our feet St. Louis
with bj J A K a PGholiday bringing you the pulse of the city. H
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