Yesterday entrepreneur Angel Rich was interviewed on the Breakfast Club. She was there to promote her Credit Stacker app and her new book “History of the Black Dollar.”
“Essentially trying to reduce poverty through a game.” – Angel Rich
Angel describes Credit Stacker as “similar to Candy Crush, but instead of swapping around candy, you’re swapping around credit types to be able to pay off your debt and achieve a higher credit score.” The app is meant to be a fun teaching tool, exposing players of all ages to the mechanics of how debt and credit work.
The inspiration for the game came from Angel’s own experiences mismanaging her finances due to lack of knowledge. Angel, an alumna of Hampton University, shared she graduated $180K in debt. She calculated she would have been 60 years old before she was debt free, a future she could not accept.
“I can’t live like this, I gotta figure it out.” – Angel Rich
To turn her finances around Angel embarked on a journey to learn more about credit and debt. She studied how to negotiate student loan and credit card balances, the importance of the debt to credit ratio, which debt is best to pay off first, strategies to increase your credit score, etc. During the interview Angel touched on each of these these topics and how understanding each was instrumental in her efforts to tackle her debt.
As the interview turned to her book, “The Power of the Black Dollar” the group delved into the topic of group economics. Angel shared an anecdote about her as a child riding into Washington DC with her great-grandmother to shop. Her great-grandmother was adamant about group economics and would go the extra mile to support Black owned businesses.
Angel shares she never understood why her great-grandmother did that until she wrote the book. According to Angel’s research without group economics it would take over 250 years for Black people to catch up economically to the rest of the population.
“In other cultures they start financially educating their children at a young age on group economics” – Angel Rich
This interview should be helpful to anyone struggling to manage their debt and/or looking to improve their credit. The interview is relatively short, clocking in at only 30 minutes.