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I think we all can agree that what the Black American community needs more than ever right now is to be more attentive to our finances. It’s safe to say that we do have access to financial education, but our inner-city communities are not focused on how to progress economically. According to povertyusa.org, 20.8% of Black Americans are living in poverty. This is the 2nd highest of the five groups compared which included White, Asian, Hispanic and Native American. I’ve always been curious as to why this was. I mean, obviously as a race we have been through some trying times in the past; but let’s fast forward to today. Do you agree that we need to start being more financially responsible? Or are there other authorities that keep us from advancing economically?

Today I want to highlight a young woman by the name of Angel Rich. I’ve been following her journey for about 2 years and I appreciate all that she is contributing to the culture and society as a whole. If I’m completely honest, I never really thought too much about finances before hearing her speak. I knew that saving money and having a good credit score was the goal, but taking actual steps towards achieving it didn’t connect. 

Technology

Angel Rich is a D.C. born tech guru who is responsible for the famous candy crush-like app called Credit Stacker. It promotes financial literacy in the form of a mobile app gaming program and has been named the best financial literacy product on the market in 2017. Angel developed an algorithm that was so sophisticated that the launch of her app gained 250,000 downloads within the first couple of weeks! Super impressive. 

On April 9th, I reposted her Facebook status which showcased Apple approving her latest release of the product. It can now be downloaded for $9.99 and claims to have major bug fixes and new added features. I’ve never been much of a mobile gaming person, but I did download the original version of this app and found it very interesting and easy to use.

Media

I had no idea who Angel was until her appearance on the Breakfast Club radio show. Her quirky and down to earth vibe left me really intrigued. She takes the position that Black people are 250 years behind economically and in order for us to change that, group economics needs to happen. This means that we need to educate our children on finances very early and circulate our money within our communities. Angel referenced how Jewish, Italian, and Russian communities have financial freedom because of this very theory.

There was a point in the interview where Angela Yee briefly said that Black people are behind because of the many roadblocks we face. But I love how Angel countered that by agreeing with the fact that there have been roadblocks; but she places the burden back on Black people to work towards solutions.

Angel Rich has a long list of accomplishments including successfully predicting the stock market resulting in a win for the Goldman Sachs Portfolio Challenge! She’s the owner of The Wealthy Life, a financial company that offers educational gaming products to reduce poverty levels. She’s also an author of The History of the Black Dollar. Her book outlines the accomplishments and setbacks of what Black people went through while contributing to the infrastructure of the United States after slavery and during the sharecropping era.

Debt

Not only does Angel know how to build wealth, she also knows how to get out of debt. She graduated college 180 thousand dollars in the hole and worked her way out of it. She shared a few tips in an interview with malikshaeed tv. The tips seemed so simple but in reality they make a huge difference.

 

1. On aging debt, creditors will usually accept about 50% or sometimes 25% of the debt to settle it. So before you pay it all off, call your creditors and make a deal. 

2. Look at your spending habits over the past 3 months and reduce your expenses by at least 20%.

3. Pay your bills one month in advance every month to give yourself a grace period. This way you never fall behind. Plus paying early boost your credit score. 

Angel Rich is for sure a financial pioneer of our generation. At just 32 years old, her accomplishments are really remarkable and I’m excited to see what else she has in store! 

Are you on a financial freedom journey? What tips can you share to help others achieve financial freedom?