Penny Finance Launches Penny for Moms, a Financial Mentorship Tool for Mothers, and Baby Steps Debt Relief Giveaway

Penny Finance makes moms financial powerhouses with new financial tools and the Baby Steps Giveaway, offering debt relief for six lucky mothers

Boston, Massachusetts–(Newsfile Corp. – May 11, 2023) – Penny Finance, the online financial mentorship platform for women, today announced the launch of Penny for Moms. Penny now provides AI-powered online financial planning tools to help moms unlock hidden dollars for their families. The new, family-centered resources include information on how to plan for all stages of motherhood, from planning for your child’s education, maximizing maternity benefits, reducing student loan and credit card debt, and more. Penny Finance’s community of more than 15,000 women find financial wellness through a series of digestible education modules, all delivered digitally.

“From everyday money concerns such as buying diapers to big-picture financial decisions like healthcare, child care, and saving for college, mothers are consumed mentally and physically by our kids. We want to build the very best future for them, yet we don’t always have time or the know-how. With Penny for Moms, we make learning about managing money an easy, one-click experience where mothers can ask questions and learn at their own pace,” said Crissi Cole, CEO and founder of Penny Finance and mom to one-year-old Charlie.

A recent Penny Survey of 200 mothers found that 96 percent said they either make the financial decisions in their house or decide with their partner. However, 18 percent of moms said that uncertainty over managing their finances is holding them back from doing more. Another 21 percent said they lack the time to learn about managing their finances. Making complex financial decisions without enough information to feel confident in those choices can cause even more financial stress: 92 percent of Penny Finance moms said they lose sleep over financial worries.

Penny Finance is marking the launch of Penny for Moms with the Baby Steps debt relief giveaway. Opening on May 12, Penny Finance will give away $500 to six eligible moms who enter to win. The names of the lucky moms will be revealed on June 8, 2023 at 1:00 pm Eastern in the Penny Finance Mamas & Money Masterclass, a free virtual event offering tips for moms at all stages about how to build a bright financial future for moms and their children.

Mia, a mom of two and a Penny Finance community member, shared, “Penny was so timely, as purchasing a fulsome life insurance policy has been on my financial to-do list. I am married, but have a larger salary compared to my husband, and we have two young kids. I’ve heard that having a policy that covers us at least until the kids turn 18 is the ‘thing to do’. I started looking into it at one point, but it was confusing and overwhelming (hard to know what info to trust and what’s just another scam!) With Penny, I could make the right decision for my family.”

Moms who want to remove the mystery around financial concepts such as retirement planning, growing wealth, and reducing debt can take the first step with the Penny Finance Money Maker Quiz, a free, three-minute survey.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/165665