Jasmine Paul, a former nuclear missile officer and finance officer for the U.S. Air Force, started The Wealth Playground organization in 2019 to teach people, especially children, about money to create a solid financial foundation.
She believes that mission is especially important in San Antonio.
“It’s critical that there’s a dialogue happening around money, that people, that kids aren’t growing up ashamed,” Paul said. “They can build wealth for the future.”
In Bexar County, thousands of families still live at or below the poverty line, a large percentage compared to the rest of the state. Across the nation, 50% percent of adults are living paycheck-to-paycheck, and the same 50% don’t have $500 for an emergency, Paul said.
“San Antonio is very family-oriented, but it’s important to have leaders and people who can help along the way, whether it’s reviewing a resume or how do you prepare for an interview,” she said.
Paul has written and published three award-winning children’s books with inclusive storylines on financial literacy, and offers financial literacy education through workshops, training and activities.
She served in the military for a decade and came to San Antonio three years ago for her military duties. She plans to stay here and grow The Wealth Playground in classrooms, workshops and in the community. So far, her programs have had an impact on youth beyond San Antonio through partnerships with national organizations and schools.
This month, Paul won a $5,000 grant from Texas Woman’s University’s Center for Women Entrepreneurs’ Veteran Woman Entrepreneur Grant program. She also won the top prize in a Disabled American Veterans Patriot Boot Camp pitch competition.
Patriot Boot Camp Director and Army veteran Nick Brophy said Paul is the “example of the value military veterans bring to entrepreneurship.”
“[Paul’s] unique experiences in high-pressure, high-demand roles, combined with their drive to do meaningful work, prepares them to excel as [a founder],” said Brophy said in a statement.
For financial literacy month, Paul is challenging people to take some actionable step toward managing their money, like consolidating retirement accounts or reviewing a credit report.
On Friday, she gave an interactive workshop at the DoSeum for CAST High Schools’ annual Youth Rally. During the workshop, more than a dozen 10th-grade students learned how to administer personal finances.
CAST Med junior Audrie Torres met Paul at another workshop at the local nonprofit Girls, Inc., where she taught about retirement accounts and investing, so Torres extended the invitation for the Youth Rally.
“These students are very focused and driven on their future,” Torres said. “How do you have a smart, financial life? I wanted to give that opportunity to the kids here.”
At Paul’s workshop, CAST students learned about the importance of saving, then created a $3,500 budget in groups. They brainstormed how to prioritize spending and questioned decisions, like whether to eat out or at home.
Paul told students using less electricity means lower utility bills and getting the newest car means having monthly payments.
“The goal is to always have a plan for your money, regardless of what you do have a plan. Because if not, the money is going to tell you what to do, and you’re going to see that reflected in your checking account with a zero balance or less,” Paul said.
Students also learned in today’s economy housing does not cost $500, food does not cost $50, and a car payment hardly ever costs $250, she said. After the workshop, one student said he plans to open a savings account. In his case, Paul recommended seeking a high yield savings account, which she said have increased yields of 4-5%.
Paul’s mission is inspired by her own journey as a first-generation American. She often shares her story about living in her car during college because she didn’t manage her money right.
“Part of it is just lack of financial education, but also just not asking for help. I should have asked for help.” she said.
More organizations are seeing the importance of teaching San Antonio’s youth financial literacy. For example, 10th and 11th grade students can participate in a yearlong River City Federal Credit Union financial literacy course.
They’ll learn real-world topics like managing debt, building credit, and saving for higher education, and upon completion will be eligible for a $1,500 scholarship.
“So many people limit their dreams because of their access to money,” Paul said. “What if we take that out? How do you show up then?”
Correction: This story has been corrected to include that The Wealth Playground is a for-profit company, that Paul came to San Antonio three years ago and that she is a first-generation American.
