Shark Tank’s winning app, Changed, launches a feature to help pay off mortgages quickly, saving them thousands of dollars.
— Founders of Changed
CHICAGO, ILLINOIS, USA, October 3, 2022 /EINPresswire.com/ — Changed, Shark Tank’s investment-winning summary savings app, is launching an all-new feature to help users quickly pay off their mortgages, saving them thousands of dollars. This revolutionary new savings method has already helped many people strategically and simply pay off all types of debt, including $25 million in student loans.
With skyrocketing mortgage interest rates and financial uncertainty trapping many people, the launch of Changed’s new feature is perfectly timed. It’s a simple concept but incredibly impactful. Each time you make a payment, the modified round up savings app will bring it up to the nearest dollar, saving the extra amount. So if you spend $4.49 on a coffee, Changed will round that up to $5.00 and save $0.51. Now imagine buying a coffee every day – that’s a savings of $186.15 per year. Even smaller value transactions will help you save thousands in interest.
About 200 million Americans carry some form of debt, with little help and education to strategically repay the debt. As first-generation Americans, Dan and Nick, the founders of Changed, found themselves in a mountain of student debt, but came up with an inventive idea on how to save, and Changed was born.
“Paying off our debt has become nothing but a hassle,” they told us. “We thought there had to be a better, faster and easier way to repay what we had borrowed. Our approach was to discover a savings method that would have no negative impact on our daily lives but which would allow us to save more than ever. As soon as we realized the positive change our new method brought, we knew we had to share it with anyone else in our position, so we created an app that rounds up purchases and puts them into savings. From there, with the help of our members, we have created a comprehensive service that helps track and pay off debt sooner”
Impressively, Changed users have saved a total of $50 million in interest payments and removed decades of loan repayments. This simple concept has enabled people who thought they had no ability to save to free themselves from a debt that was stressing them out.
Thanks to traditional financial education, most of us are not equipped with the personal finance knowledge and skills to manage debt. As first-generation Americans raised by a single mother, Dan and Nick quickly learned the power of every penny. Now, with Changed, anyone can harness the power of small savings to take on debt differently.
Changed’s mission is to facilitate the repayment of debt. It changes the way people think about saving, making it an automated, painless process that we don’t have to plan for. In 2018, the company appeared on Shark Tank, winning an investment from Mark Cuban. Since then, interest in savings and debt repayment app exploded, saving users a total of $25 million and avoiding $50 million in interest. Plus, on average, people were able to pay off their debt 40% faster than they would without Changed.