Back when banks ruled FINTech
Perspective by Kris Kitchens
What we can do is eliminate the stress, exhaustion and conflict from living a lifestyle within reason.
Those at Xclr8 worked tirelessly, with no paychecks, long weekends, and countless arguments (at one point, we were arguing about the truth behind the African Swallows carrying capacity). Though we had our hiccups, and it always felt as if one step forward equaled a mile back. We came together with a complex vision followed by a simple plan of execution: Eliminate the complexity and stress associated with living a lifestyle today. What we created was the Changejar. Its purpose is to balance income and lifestyle with confidence.
We work to understand income and lifestyle balance at Xclr8 and the app Changejar itself makes it possible for you to leverage this knowledge and maximize its potential without the education of a theoretical physicist -- Albert Einstein said it best, "Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it."
How the magic happens
How we do this is through small simplified micro-transactions to your debt daily. No different than the purchasing of your gems on Candy Crush or Clash of Clans. Using specific math and statistics we identify what you can afford without noticing its absence daily. What occurs is an opportunity to make small, yet over time dramatic differences to how hard your income works to balance your lifestyle with little to no impact to you.
Here’s an interesting factoid: We could pay off everyone’s accumulated personal debt in the whole country (United States) for an average of $55 dollars per day per household and save $7 trillion dollars in consumer interest over a 5 year period. Just to be clear, this is not government debt, just consumer home mortgages, credit card balances, and personal loans, which amounts to roughly $11 trillion.
So.... now we’re on our second beta version on both Android and Apple devices. The reason we call our idea and app ChangeJar, is because we all love our own change jars, They are personally chosen and provide a financial security blanket. In some cases like my own; it has saved my skin many times, but it could be doing more.
Try our app and make one change for the rest of your life, because getting out of debt is the only route to a financially secure future. We’re working hard to redefine the art of money management with a fully automated financial assistant. That’s if our customers are satisfied with our progress already, and we hope it does.
For beginners getting out of debt, the app has all of the debt and payment schedules already programmed, and we look forward to improving and refining the app as we grow the company.
Thinking about what we’ve created often takes me back to my first year in community college. Mike and I were driving to class one day, and I was lamenting being stuck driving around in a $500 jalopy, envious of all the BMWs and Mercedes I saw other students driving.
I’ll never forget his response: “Kris,” he said, “in 20 years they’ll still be paying for their fancy cars, and you won't be paying for any car.” I didn’t really believe him, but as it turns out he was right. Some of my friends from college are still paying through the nose for their lavish spending habits.
I have struggled with the question of both Gen X and Millennials. "Why can’t we afford our debts?" More importantly, "Why are we always financing versus saving for our desires, like the prior generations?"
The answer was rather poetic. A high school teacher from my history class called it "instant gratification". Thanks to deceptive banking marketing, smartphones and social media, we all feel the pressure of keeping up with the "Kardashians" without nearly the resources or teams of people they have at their disposal to make it happen-our app is the answer to that problem.
So there you have it. You’re going to love living your lifestyle of choice with confidence and balance.
Kris Kitchens, David Broers, Mike Liccardello & team.