Two Sides of the Coin: Advancing Diversity, Equity and Inclusion in Financial Wellness

Abstract

Too often, discussions around money, finances, and financial well-being overlook the critical integration of diversity, equity, and inclusion (DEI) principles. Various systemic inequities, including those stemming from racism, ableism, and sexism, significantly impact how students navigate their personal finances, and their access to financial well-being. In this session, Dr. McAllaster will demonstrate how she has woven her DEI background and higher education expertise into the realm of financial wellness. Drawing on pertinent research, she will illuminate the ways in which systemic inequities impact students' financial well-being and equip financial counselors and practitioners with practical tools tailored to their campus contexts. Dr. McAllaster will provide case studies and examples showcasing successful implementation of DEI-focused financial wellness initiatives, highlighting ways institutions both support and sometimes retract from DEI efforts. By sharing these real-world applications, participants will gain valuable insights into effective strategies for addressing DEI considerations within their own financial counseling practices.