Welcome to another enriching episode of Highly Sensitive Money! In this installment, host Diana Yañez engages in a profound conversation with Jasmine Rashid, an impact investment advisor and author of the upcoming book, “The Financial Activist Playbook.” The discussion covers Jasmine’s journey into financial activism, her personal experiences, and powerful insights for those looking to align their financial practices with social justice.
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From Personal Struggles to Professional Impact
Jasmine’s journey is a remarkable blend of personal experience and professional insight. She recounts how her background as a mixed-race individual growing up in segregated Long Island, New York, shaped her awareness of financial inequities from a young age. This awareness eventually led her to a career dedicated to financial activism, social justice, and wellbeing.
Finding Her Path
Jasmine shared how her father’s journey from Bangladesh to the U.S. and his eventual career as a financial planner influenced her understanding of financial systems. Despite experiencing financial volatility during her childhood, she gained unique insights from her father’s profession. This background fuelled her passion for addressing inherent inequalities in financial systems and advocating for more equitable financial practices.
The Intersection of Sensitivity and Activism
Highly Sensitive and Proud
Both Diana and Jasmine resonated with the idea of being highly sensitive, a trait that impacts how they experience and engage with the world. Jasmine noted how highly sensitive people are often drawn to social justice work due to their deep empathy and strong emotional responses to inequality and suffering.
Personal Finance and Trauma
Jasmine highlighted the importance of understanding personal finance through a trauma-informed lens. She recommended programs like the Trauma of Money Method, which combines financial literacy with an understanding of how trauma impacts financial decisions. Recognizing and addressing these traumas can be crucial for anyone looking to create a healthier relationship with money.
Practical Steps for Financial Activism
Starting Small
One of the most empowering takeaways from the conversation is that financial activism doesn’t require grand gestures. It’s about the small, conscious decisions made every day. This can range from choosing where to bank to how to invest and where to spend money. Each choice can have a ripple effect on creating a more equitable society.
Community over Isolation
Jasmine emphasized the importance of community in financial activism. Whether it’s joining local initiatives, participating in financial cooperatives, or simply having open conversations about money with trusted friends and family, collective efforts can significantly impact financial systems.
Role Models and Resources
Inspiring Figures
Jasmine shared inspirational stories, including Arlo Washington’s establishment of a community credit union in Little Rock, Arkansas. His journey from a barber to a banker exemplifies how community needs can drive impactful financial initiatives, even without formal financial backgrounds or permissions.
Building a Support Network
Jasmine also highlighted the value of mentorship and community support. She mentioned the Just Economy Institute fellowship as a pivotal experience that connected her with a diverse group of individuals focused on integrating financial practices with social justice.
Embracing Nuance in Financial Decisions
Money and Psychology
Diana quoted Morgan Housel’s insight from “The Psychology of Money,” emphasizing that while money appears to be about math, it’s fundamentally a psychological question. This underscores the importance of personalized financial strategies that consider individual backgrounds, traumas, and values.
The Power of Self-Reflection
Both Jasmine and Diana advocate for self-reflection and open dialogues about money. They encourage people to start with their personal stories and gradually expand these conversations to include trusted relationships. This approach can demystify financial decisions and make them more approachable and less intimidating.
Add Action to Hope!
For those interested in exploring financial activism further, Jasmine’s book, “The Financial Activist Playbook,” is an invaluable resource. Her website, jasmine rashid.com, provides additional insights and access to her work. Jasmine encourages everyone to consider buying her book from local bookstores rather than large online retailers to support local economies.
To sum it up, this conversation between Diana Yañez and Jasmine Rashid is a treasure trove of wisdom for anyone looking to navigate the intersection of financial decisions and social justice.
From personal anecdotes to practical tips, it offers a holistic view on how to make meaningful financial choices that align with one’s values.
Thank you for joining us on this journey. Stay tuned for more enlightening conversations on Highly Sensitive Money!
Resources:
Jasmine’s website
The Financial Activist Playbook
The Trauma of Money
Just Economy Institute
Money Out loud
The Barber of Little Rock
allthecolors.net for the Money Archetypes Quiz