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Chloe B. McKenzie

Headshot of Chloe McKenzie smiling against a neutral background.

In 2022, we introduced our first visiting scholar, Chloe B. McKenzie. Chloe brought tremendous professional and personal experiences to the field of financial well-being through an impressive and diverse career path. She has dedicated her research to examining and reforming financial education, specifically advocating for equity among Black women and women of color.

Chloe has been a proactive voice pushing the financial education community to address its flaws and customize solutions to better serve all people.

Silence is Violence Podcast

In a four-part podcast series, Chloe introduces, analyzes and puts into historical context the concepts of financial trauma and shame. She combines the results of her in-depth research and conversations with a unique consortium of thought leaders to define how this underexplored topic has been viewed over time. These presentations address how the economic system has come to be perceived—whether it is the organizations we rely on, the education we receive or the tools we are provided.

Framing the Conversation: A Message From Our President and CEO, Billy Hensley, PH.D

We champion financial education. We seek to understand how to improve financial education. We want financial education to work for all. One way to accomplish these aims is to hear and consider the stories of those who have had difficult and traumatic experiences within the Personal Finance Ecosystem and with financial education. These discussions are not framed from an agenda to shame practitioners, but a framework focused on our quest to improve financial education and its outcomes. This podcast series was inspired by research that explores the financial trauma of Black women and contributes to the discussions about how financial education must continually evolve to achieve the positive impact it intends. These episodes may be uncomfortable and at times you may disagree with what is being said. Yet, we ask you to fully consider the truths, stories and insights shared. Our objective is to help us all become better advocates, practitioners and researchers who can effectively champion high-quality, thoughtfully designed, accessible and culturally relevant financial education.

Episode Summaries

The Whole Story

The concept of financial literacy dates back to 1914 and the Smith-Lever Act. The earliest research was done in 1920 by a woman studying home economics. How did this become a multi-million dollar industry, and what are some of the effects of its presence culturally? In this episode, Chloe explores the roots of financial literacy, including its connection to personal accountability and individualism, and introduces the concepts of financial trauma and shame. She also highlights why financial education is vital and how we must ground ourselves in the harsh truth of our history to advance wealth justice.

The Perspective of the Learner

Now that we know the origins of financial literacy, we can better understand why the larger financial education system encompassing financial literacy has embedded legacies of white supremacy. For years, the prevailing message has been that anyone can budget, save, borrow, and invest their way out of financial hardship, and even oppression—but that mindset is shifting. In this episode, Chloe and her guest Michelle Samuels-Jones discuss this pivotal turning point. They explain why financial education is evolving to recognize identity and cultural competency as essential to financial education. They will also discuss practical strategies and approaches they continue to learn about, amplify and support to model financial education can—and should—engage people in a more inclusive and equitable way.

The Financial Ecosystem

Creating effective financial education is complex, especially when the system itself is oppressive by design. This episode dives into real solutions, looking at how financial education can help address wealth inequality while drawing on research on the lived experiences of Black women participating in the economy. Chloe and her guests, Michael Dedmon and Josh Caraballo, discuss the delicate balance between acknowledging financial trauma and pushing for wealth justice, drawing on both research and personal stories to highlight ways forward.

The Future

In this culminating episode, Chloe will weave together the insights from the previous episodes, exploring the journey from the historical roots of financial literacy to the current wave of reform. Revisiting key concepts from previous episodes, Chloe will synthesize the discussions on the intersection of financial literacy, shame, and trauma and reflect on the new pathways for a more inclusive and just approach to financial education and how practitioners should contribute to it.

Additional Podcast Resources

Research in Practice
Research in Review

Chloe's Written Work

NEFE Responses

Visiting scholars are the voice of their own work. As a supplement, our Research Team authors companion pieces throughout the year, giving our insight as an organization through data and expertise to frame our own perspective. Together, the body of work developed will offer audiences a well-rounded view of the topic, which can be utilized in their own work on related topics.

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