The Beans and NHSA Announce Partnership to Reduce Teacher’s Financial Stress
SAN FRANCISCO, CA — The Beans, a financial technology startup, and the National Head Start Association (NHSA), a leader in early childhood development and education, announce the launch of their national partnership to support Head Start leaders, educators, and staff with tools to reduce financial stress.
“While NHSA is resolute in our urgent work to secure equitable compensation for early educators, we know how important financial health is to the mental health of our education and care leaders, educators, and staff,” said NHSA Executive Director Yasmina Vinci. “Financial health and pay parity go hand-in-hand.”
Financial stress is the number one and most persistent form of stress in America with teachers being twice as likely to report stress than the general employed population. Through the launch of the partnership with The Beans, Head Start teachers and program staff across the country will have the opportunity to receive The Beans’ evidence-based financial care app and content to reduce financial stress and support financial progress.
“Financial stress is a key driver of churn in education. The cost of replacing teachers in the U.S. totals more than $7B each year,” said Melissa Pancoast, founder and CEO of The Beans. “This program was built by teachers for teachers. We understand the financial stress that comes with choosing a career of mission over money and believe it should be possible to do great work and make financial progress.”
The partnership will provide participating teachers and program staff access to The Beans’ “Visual Financial Planning” to help them examine their financial stress and their personal financial narratives. Additionally, NHSA participants will learn to create and keep a cash-flow plan.
“We are excited to bring The Beans to the teachers and staff of Muskogee County,” said Christin Bolinger, Head Start Program Director in Muskogee, OK. “The reality of our teachers’ own finances can weigh so heavily and generate so much stress. That is why this program and partnership with The Beans is important in terms of impact.”
What makes The Beans unique from other tools is their careful consideration of the Caring Class audience, those working in education, healthcare, nonprofit, and public professionals who choose careers of mission over money–and their evidence-based recommendations and automations that align behavior with intentions.
“I see firsthand the impacts financial stress has on the physical and mental health of our staff,” said Vincent Aceron, Head Start Parent Advocate. “The Beans’ research-based approach will be a game-changer by providing the tools to simplify that path to financial success. After attending the NHSA parent conference in December and being blown away by this program, it will be my legacy to bring The Beans to my Head Start community.”
With the Caring Class in mind, The Beans makes programming that is affordable to partners. Additionally, there is $176B of federal funding available through the CARES Act to support the mental health of education and healthcare professionals with more than $1.75B available specifically to Head Start programs.
“When we first started to design our wellness pathway, we thought about things like mindfulness. We thought about health, mental health, physical health, but decided our first wellness pathway should be financial health because a great deal of the stress and anxiety in our lives comes from finances,” said Dr. Deborah Bergeron, deputy director for community engagement and innovation with the National Head Start Association. “Financial stress impacts our physical and mental health, the health of our communities, and our satisfaction in our work.”
For more information or to register as a Head Start teacher or staff visit: nhsa.org/academy/financial-wellness-essentials
ABOUT THE BEANS
The Beans is simplifying the path to financial success. The financial technology company automates financial planning and support for American’s Caring Class, those who choose mission over money. The Beans delivers the world’s first Visual Financial Plan, an evidence-based approach to personal finances that works, enabling members to achieve financial goals and reduce financial stress. Founded by a former math teacher turned University of Oxford researcher, The Beans is available online and on iOS through the App Store.
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