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E9: Idle Savings - An Opportunity for Change

Updated: Dec 17, 2020


Wealth inequality in America is staggering. People who already have wealth accumulate more of it through financial know-how while those who don't typically leave their savings idle. Traditional methods of savings methods do little to propel people towards being able to accomplish their long term financial goals such as home ownership or starting a business. Cat Berman, CEO, and co-founder of CNote wanted to create a way to allow people’s savings to do more for them. Our conversation with her covers the capability of finance and the multiplier effect of strategic investments that allow people access to economic freedom that otherwise would never have been available.

"There's two parts of it that are really important to us. One is the notion that we should all have access to financial freedom or economic independence and that should be regardless of who your parents are what zip code you are born into right, the opportunity to really experience, economic security right should be available to all Americans. And that's something that is just not the case today as the wealth gap, or I like to say the wealth chasm continues to grow. And so that economic freedom should be democratized."

"On just an individual call to action that we can take to help close that wealth gap and make sure that families and individuals regardless of color the scanner background, have an opportunity to do things like start their own business, which we know is a creator of economic freedom, you know in their first home, which we know is a creator of economic opportunity and other things like that."

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