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.
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.
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.
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?
Sis smashed $180k!? I definitely need parts! That app sounds great too. Thanks for sharing these resources.
Yes, she smashed 180k! You’re welcome 🙂
I became a Financial Coach because I’ve lived in poverty, held a lot of debt and I was blessed to come out on the other side. There is a STRONF importance upon educating our kids early and the circulation of funds amongst our community. The mindset of people must also change in order to implement these things for actual change. Great read. Thank you
That’s awesome! I’m happy you are contributing to this space, it’s so important. 🙂
I have never heard of her or this game! Would you say it’s kid friendly? I really want my nieces to learn financial literacy. Also one of my goals is to get rid of my student loan debt
Yes, it is kid friendly. It’s meant for kids and adults ages 4 and up! Having student loans woke me up to the importance of financial literacy. Good luck!
I’ve never heard of her or this game. This is very important to learn in our community. I will definitely been looking into this. Thanks for sharing.