After her son needed open heart surgery, Sahrienys Prince realized she couldn’t rely on herself to manage every bill, expense, or savings goal. She needed a system to keep her finances running. That led to The High-5 Banking Method, both  structure and a book she authored, which she discusses in a recent episode of the podcast.

The method focuses on a “2 checking, 3 savings” structure for managing money. The two checking accounts are for bills and everyday spending, while the three savings accounts are for an emergency fund, short-term goals, and long-term goals. Together, the five accounts help make each dollar matter and clarify how much money is available.

Sahrienys said her relationship with money changed drastically during the 2008 financial crisis. She went from the comfortable life she grew up in to experiencing a scarcity mindset and learning about financial planning. A week before her son’s surgery, her father-in-law died. Because her husband ran his own business, the family went one month without income.

Sahrienys was able to use her emergency funds to get through that month and cover her son’s surgery costs, which other parents she met at the hospital had to take on side gigs or quit their jobs to pay for their children’s surgeries.

Her experience underscores how money systems can provide structure and confidence when life gets hectic. See the full transcript and listen to the episode to hear more about the High-5 Banking Method.

Also Check Out: Building a World of Money Without Borders with Josh Contreras of Wise  

Sending $200 to your uncle in another country sounds simple. But how much of that $200 will they actually receive? Josh, Global Community and Digital Campaigns Manager at Wise, has considered this question firsthand.

He grew up watching his father send money to his mother in Mexico. Now, the roles have reversed, and Josh sends money to his parents. Today, he works to make international payments clearer for consumers.

Josh learned international transfer providers often advertise their services as “free” or “zero-fee.” In reality, some providers make money by marking up exchange rates, causing consumers to lose money without seeing an explicit fee.

This lack of transparency can make services difficult to compare because the true cost isn’t clear upfront. Josh encourages consumers to look beyond the advertised fee and compare exchange rates to determine how much money the recipient will actually receive.

Whether they travel internationally, study abroad, or send money across borders, understanding how these services work can help students comparison-shop and make better decisions in an increasingly digital, global financial landscape.

See the full transcript and listen to the episode to hear more about their conversation on digital and financial literacy.

This week’s LIVE event with Gunjan Banerji on Why Investing Feels Like Gambling & What Educators Need to Know About the New Risk Culture

Register to join us tonight (September 24) at 4pm PT (7pm ET) for a revealing conversation with Gunjan Banerji, Lead Writer for Live Markets at The Wall Street Journal, CNBC contributor, and winner of the 2024 Nellie Bly Award for her reporting on the intersection of gambling and investing. You'll walk away understanding the forces shaping your students' first encounters with the market and concrete ways to build the lessons they need now.

About the Author

Zach Mann

Zach recently graduated from UC Santa Barbara with a degree in Sociology. Zach is a Communications Intern for NGPF, assisting with content creation for NGPF's various platforms. He enjoys contributing to communications that support a mission with a tangible impact.