SmartPath started in 2010 when Alok Deshpande left his career at Bain & Co. to teach personal finance.
“As a result of the financial crisis, many people in the areas I grew up were facing foreclosure, job loss and significant financial stress. I was frustrated by the situation and my wife challenged me to do something about it. So, I quit my job and started teaching people about money. I wrote my own curriculum and had six people in my first class!”
Alok recognized that only 4 of 50 states require financial education to graduate from high school. Moreover, as adults, most families don’t have access to an unbiased financial advisor (they’re selling products). Simply put, the cards are stacked against Main Street families when it comes to financial decisions.
Alok’s approach centered around teaching people about money without selling any financial products. His curriculum was inspired by his mother who came to the US with $8 and ultimately became a millionaire by following two principles:
1. She avoided things she didn’t understand
2. She spent less than she made, every month, for 40 years.
Having lived that playbook, Alok knew that smart choice every day lead to long term wealth. He expanded upon that philosophy and published his own system called Financial Fuel and the 7-Tank System.
Today, SmartPath’s plan, platform and partners leverage that system to deliver effective and consistent guidance to the middle class without selling financial products. .
“It’s been a dream come true helping families move from chaos to confidence with their money. It’s incredibly inspiring to watch people build take control of their financial life.”