With costs racking up in the wake of the pandemic, young people continue to face an age-old problem: how to better manage their money. Swedish start-up Anyfin enables Gen Zers and Yers to consolidate, refinance, and get ahead of their sources of debt, helping them get back in the black.
People are trying to boost their financial health, looking to brands to support them with more empathetic financial planning. However, research has shown that automated payments do not always help people to manage their debts – instead, being unaware of payments can exacerbate them.
Feelings of shame around debt and a lack of engagement from traditional institutions have long hindered financial discussions among women. Gen Y ‘finfluencers’ are changing this status quo, using their social media savvy and relatability to improve their followers’ relationships with money.
It’s the age-old problem: people aren’t comfortable talking about money even though it’s affecting their mental health. The Money and Mental Health Policy Institute is aiming to help them understand how to get out of debt and encouraging banks and brands to stop helping people get into it.
American adults are feeling the pinch of the recession, and their financial woes are being compounded by student loan debt. Dallas-based start-up College Cash is looking to alleviate some of this economic stress by compensating people through a user-generated content marketplace.