Oakland

Opinion: What Are We Waiting For?

Published

9 years ago

June 8, 2017

Three City Councilmembers sponsored a very successful forum in February in support of the Public Bank of Oakland.

So far, although no opposition arguments have been raised, only two councilmembers are clearly in favor of funding the bank’s feasibility study.
City staff and the other six councilmembers are equivocating: the money needs to be spent other ways; maybe the Bank should be regional; let’s wait and see what San Francisco will do.
What are we waiting for?
This Tuesday, June 13, the City Council’s Finance Committee will face a simple decision: spend $100,000 now to start moving toward the Public Bank of Oakland or sheepishly follow the staff’s recommendation to wait some unspecified period of time for some unspecified thing to change.
Other municipalities have already expressed interest in partnering with our Bank. If Oakland shows some courage, we will find support.
What are we waiting for?
If Oakland doesn’t start a public bank, the City Council will always be making the hard decisions they’re stuck with now: do we allocate our money to the homeless or to keeping long-time housed residents in the city? Do we rebuild the pier that the rowing club needs, or do we get the rats out of the parks?
At the same meeting where they do or don’t allocate that $100,000, the Finance Committee will almost certainly approve an $86 million note financed by Bank of America.
B of A will earn $2.5 million for that note. If that $2.5 million went to the Public Bank of Oakland, we could use it to rebuild the pier and get the rats out of the parks and have plenty left over to help our community banks finance small businesses and student loans.
If the $56 million we paid in interest to Wall Street last year went to our Bank instead, we’d be able to address many more of our competing problems.

Last year the Bank of North Dakota (BND) earned $136 million in profits. Oakland is about half the size of North Dakota, so once our Bank is up and running, it could earn about half what BND earned, or $68 million.
That comes to $186,000 per day that we’re not earning without our Bank. What are we waiting for?
Why should we be missing these financial opportunities?
The Finance Committee members are Abel Guillén (238-7002), Dan Kalb (238-7001), Annie Campbell Washington (238-7004), and Noel Gallo (238-7005).
Please call them and ask, “What are we waiting for?”

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Financial Wellness and Mental Health: Managing Money Stress in College 

While everyone’s financial situation is unique, several common sources of stress have the potential to strain your financial health. These include financial and economic uncertainty, existing debts, unexpected expenses, and mental or physical health changes. Financial stress may differ from situation to situation, but understanding the factors contributing to yours may help you begin to craft a plan for your unique circumstances.

Published

3 weeks ago

March 17, 2026

Oakland Post

Sponsored by JPMorganChase

As a college student, managing financial responsibilities can be stressful.

If you’ve found yourself staying up late thinking about your finances or just feeling anxious overall about your financial future, you’re not alone. In one survey, 78% of college students who reported financial stress had negative impacts on their mental health, and 59% considered dropping out. While finances can impact overall stress, taking steps to manage your finances can support your mental, emotional and physical well-being.

When it comes to money, the sources of stress may look different for each student, but identifying the underlying causes and setting goals accordingly may help you feel more confident about your financial future.

Consider these strategies to help improve your financial wellness and reduce stress.

Understand what causes financial stress

2. Determine your financial priorities

Start by reflecting on your financial priorities. For students this often includes paying for school or paying off student loans, studying abroad, saving for spring break, building an emergency fund, paying down credit card debt or buying a car. Name the milestones that are most important to you, and plan accordingly.

3. Create a plan and stick to it

While setting actionable goals starts you on the journey to better financial health, it’s essential to craft a plan to follow through. Identifying and committing to a savings plan may give you a greater sense of control over your finances, which may help reduce your stress. Creating and sticking to a budget allows you to better track where your money is going so you may spend less and save more.

4. Pay down debt

Many students have some form of debt and want to make progress toward reducing their debt obligations. One option is the debt avalanche method, which focuses on paying off your debt with the highest interest rate first, then moving on to the debt with the next-highest interest rate. Another is the debt snowball method, which builds momentum by paying off your smallest debt balance, and then working your way up to the largest amounts.

5. Build your financial resilience

Some financial stress may be inevitable, but building financial resilience may allow you to overcome obstacles more easily. The more you learn about managing your money, for instance, the more prepared you’ll feel if the unexpected happens. Growing your emergency savings also may increase resilience since you’ll be more financially prepared to cover unexpected expenses or pay your living expenses.

6. Seek help and support

Many colleges have resources to help students experiencing financial stress, like financial literacy courses or funds that provide some assistance for students in need. Talk to your admissions counselor or advisor about your concerns, and they can direct you to sources of support. Your school’s counseling center can also be a great resource for mental health assistance if you’re struggling with financial stress.

The bottom line

Financial stress can affect college students’ health and wellbeing, but it doesn’t have to derail your dreams. Setting smart financial goals and developing simple plans to achieve them may help ease your stress. Revisit and adjust your plan as needed to ensure it continues to work for you, and seek additional support on campus as needed to help keep you on track.

 JPMorgan Chase Bank, N.A. Member FDIC