CreditStacker: Gamifying Financial Literacy

The 74 Jul 11, 2018
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CreditStacker: Gamifying Financial Literacy Giving Compass

Giving Compass’ Take:

• Tim Newcomb explains how Angel Rich developed a game to help adults and children alike become financially literate to reduce poverty. 

• How does the medium information is presented in change the reach of the message? 

 • Find out how financial literacy can be essential to college success.

Growing up in a family in the life insurance business, the aptly named Angel Rich found financial literacy came easily. But she realized that for many people, this wasn’t the case. So after winning the Goldman Sachs Portfolio Challenge her senior year of college, she was inspired to turn her financial know-how into a tool to help others, especially populations and demographics she saw as underserved.

Rich, who at 30 was named a Top Black Female Founder by Google and was declared “the next Steve Jobs” by Forbes, started by founding WealthyLife, “to leverage technology to scale poverty reduction,” she told Medium. And now, her popular CreditStacker app makes gaining financial knowledge into a game, a perfect platform for reaching multiple demographics and age groups — including school kids.

CreditStacker is a matching game akin to Candy Crush that allows users to swap colored pieces that represent major credit types, in an effort to pay off debt and earn a higher credit score. Players can also learn from multiple-choice questions.

Read the full article about CreditStacker by Tim Newcomb at The 74.

If you are looking for more articles and resources for Economic Dev, take a look at these Giving Compass selections related to impact giving and Economic Dev.

  • This article is deemed a must-read by one or more of our expert collaborators.
    Click here for more.
    Blended Capital Helps Social Entrepreneurs Take Important Steps

    Alloysius Attah started Farmerline, a social enterprise in Ghana that connects small scale farmers with information, services, and markets, with just $600 in prize money from a mobile app competition. Since then, he has found that he needs to travel outside of Ghana to attract the capital he needs to scale up his operations. When Attah was selected for Echoing Green, an organization that provides seed stage funding and support to global social entrepreneurs, he gained vital access to a network of funders. Now that his company has expanded to 11 countries, and earned $1 million in revenue, he is working to raise $1.5 million to scale to more countries and reach more farmers. Attah finds himself in what is often described as the missing middle, in which entrepreneurs who are just beyond the seed stage lack the medium- to long-term financing they need to keep on growing. “It feels like starting a business all over again because you are interacting with a different level of investors and funders who might require certain boxes for you to check before they can be able to give you the support that you need,” he told Devex. Read the full article about blended capital helping social entrepreneurs by Catherine Cheney at Devex International Development.

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