Financial Illiteracy in the Military | Lawrence Raymond of Green Collar Finance
Whether there's inflation going on or not, financial freedom = a comfortable lifestyle. However, most of us are not taught financial literacy when we’re young, which is why so many of us struggle. In this episode, I chat with Sergeant First Class Lawrence Raymond, founder of Green Collar Finance. He shares his personal experience of living in poverty and how he was able to push through its unique challenges. Join us and discover the financial tools you never knew you needed until now.
Description:
Whether there's inflation going on or not, financial freedom = a comfortable lifestyle. However, most of us are not taught financial literacy when we’re young, which is why so many of us struggle.
In this episode, I chat with Sergeant First Class Lawrence Raymond, founder of Green Collar Finance. He shares his personal experience of living in poverty and how he was able to push through its unique challenges. Join us and discover the financial tools you never knew you needed until now.
Meet Lawrence Raymond
- At the age of 17, Lawrence started investing as a way to escape poverty. In the beginning, he made simple investment mistakes because he had no one to teach him. Despite this, he was determined to build a solid financial foundation for his future.
- Thanks to his understanding of personal finance, he started the Green Collar Finance company to teach others to keep them from making big financial mistakes.
- Through one-on-one coaching and group sessions, Lawrence helps individuals understand the basics of budgeting, investing, and building generational wealth.
Common Financial Mistakes Service Members Make
- Lawrence shares the most common financial mistakes that service members often make:
- Failing to budget
- Accumulate unnecessary debt
- Not saving for the future
- He discusses why it’s important to understand how money works and how developing positive financial habits can help prevent these pitfalls.
The Gap in Financial Literacy in the Military
- There are not many resources available to teach active and reservists financial literacy, and the ones that do exist are usually irrelevant or so dry that it’s impossible to gain value from them.
- This is why Lawernce offers free coaching sessions on Zoom. He wants to help service members learn about personal finances in a way that fits their schedules.
- He has successfully assisted over 600 service members, helping them save $346,000 in debt.
- His work focuses on debt reduction, financial planning, and saving strategies. Lawrence’s goal is to continue helping service members improve their financial literacy and achieve true independence.
“There should not be a soldier or service member stuck in the same financial situation I was in.” - Lawrence Raymond.
Resources
If you haven’t read the book we mention in this episode, The Psychology of Money by Morgan Housel, we encourage you to check it out.
Part-Time Hitter is a collaborative initiative by Friendly Forces and The Fratty Guard.
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