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Here's How 27-Year-Old Cinneah El-Amin Paid Off $10K In Credit Card Debts

If it’s one thing that we truly love to see, it’s the power that comes with financial freedom after paying off credit card debts! According to Good Morning America, Cinneah El-Amin is finally free from the constrictions that accompany debt after coming to a realization that it was time for a change. “The worst that I got was I woke up one day with over $10,000 in credit card debt that was due in full,” said the 27-year-old.  From there she buckled down and took a head-first approach to managing and alleviating herself from the credit card debts she owed to various companies. When it came to attacking her debt, El-Amin knew that she had to take a more serious approach to where she was spending her money. Through the use of zero-based budgeting, she was able to achieve all of her financial goals. With the zero-based budgeting method, any income amount that is earned is given a “job” so that when the person subtracts the money that’s going out from their respective income, they are...

Feb 8, 2022

Minority-Led Fintech App Qoins Raises $1.5M Investment to Improve Financial Wellness For Users

Fintech is quickly becoming the way of the digital future, and Atlanta-based startup Qoins is using its company’s model to repair finances for consumers looking to save money and pay off debt. Qoins — a financial wellness app that helps people pay down their credit card debt — was founded by tech entrepreneurs Christian Zimmerman and Nate Washington with a sole purpose of helping people get out of credit card debt faster. Since the app’s launch, it has helped pay off and save more than $15 million of debt for users. This week, the fintech startup announced that it raised a $1.5 million round of investment to continue expanding its platform and product offerings. This latest round of funding was led by venture capital firm Front Row Fund, and also supported by other funds such as Rise of the Rest (Led by Steve Case) , Carolina FinTech Ventures, Rebel One and Service Provider Capital, according to CEO and co-founder Zimmerman. “Almost every one of today’s popular fintech companies are...

Jan 13, 2021

Study: More Than 1 in 3 Credit Cardholders Ended 2019 With More Card Debt Than They Started With

Let’s be real — some of us might not have made as much financial progress as we would have liked in 2019. Thankfully, it’s a new year, and we have another chance to do better. CompareCards commissioned a survey of almost 800 credit cardholders and found that nearly 1 in 5 cardholders with credit card debt didn’t make any progress towards paying off their debt last year. On top of that, 35 percent of cardholders entered 2020 with more credit card debt than they had in the beginning of 2019. In this article: Key findings Many cardholders started the new year with card debt Nearly 1 in 5 indebted cardholders didn’t make any payoff progress in 2019 The credit card debt gender gap continues How to prioritize paying off credit card debt in 2020 The bottom line Key findings Nearly 1 in 5 cardholders with credit card debt didn’t make any payoff progress this year. 35 percent of cardholders have more credit card debt now than they did on Jan. 1, 2019. On the other hand, 34 percent now have...

Jan 10, 2020