know money, no problem BY CHLOÉ ADAMS
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et’s get one thing straight. Money is NOT the root of all evil. At least, that’s what Steven Hughes believes! “If you think that money is evil, are you going to want to keep it around? Are you going to make a lot of it or put a lot of ‘evil’ in your house or in your pocket or in your bank account? What I truly believe is that the lack of money is the route of all evil. When you don’t have money, you’ll be willing to do things out of character to get it. Money is energy. It does whatever you ask it to do.” Let’s be honest. Money isn’t always a fun conversation unless you’re making it. But Steven Hughes, a millennial money expert from Columbia, SC has developed his own money methods that tell us otherwise. As a first-generation Jamaican American, Steven knew he had to do something about his financial situation. Growing up with eight (sometimes ten) people sleeping in the same bed, Steven didn’t always know what the best practices were in terms of handling his funds. In fact, in college, he found himself in a money mess with repossessions, evictions, maxed-out credit cards, and overdraft fees to the point where the bank closed his account and did not want him to bank with them anymore. But, that didn’t stop him. Steven decided that he wanted to turn his financial life around and started by reading books and taking necessary actions to change the things about him. He realized that there were people
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around him making the same mistakes he was making and were either trying to fix them or avoid the mistakes at all costs. That’s when it hit him – It was time for a change. Steven is the founder of Know Money®, a nonprofit organization that teaches college students how to think, talk and interact with money more positively. With live workshops and video content, college students can learn the dos and don’ts of money management in a relevant and creative way. “Three months before college students get to campus, they have to ask to go to the bathroom,” he said. “But when they get to campus, they can sign for a ten-thousand-dollar loan and put themselves into debt that can be insurmountable.” That’s the truth. College can be the start of a long journey down a financial hole. For most, it’s almost impossible to get out of due to the lack of resources available to assist individuals with their finances. “I didn’t go to school for finances or anything like that. I actually went for human resources and dropped out,” said Steven. “But when I started Know Money®, I didn’t have any formal training. I just wanted more people to understand money that wasn’t too stuffy.” The story wasn’t over for Steven after he dropped out. His story was actually just beginning. He is currently in a certificate program studying financial psychology and behavioral finance. He even became a certified financial education instructor. “I tell these stories because people can relate to
THE SQUEEZE
