Page 102 - Credit Matrix: The Path to Financial Liberation Red Contract

Hack #6 The Round Up Method

**The Round-Up Savings to Credit Transfer - A Multifaceted Debt Reduction Strategy**

This innovative hack seamlessly integrates micro-savings with effective debt
reduction and credit score improvement, utilizing the potency of round-up
savings apps like 'Changed'. It’s a smart and effortless strategy to accumulate
savings from everyday transactions and use them to reduce various debts
including credit cards, mortgages, auto loans, personal debts, or student loans.

**How It Works**

1. **Choosing a Round-Up App**: Opt for a round-up savings app that fits your
lifestyle and financial goals. While apps like Acorns,MoneyLion, Chime, and
Qapital are popular, 'Changed' is highly recommended for its versatility in paying
down various debts including credit cards and loans.

2. **Linking Your Accounts**: Connect your bank account and cards to the
'Changed' app. It tracks your everyday purchases and rounds up each amount to
the nearest dollar, transferring the difference to a savings account.

3. **Accumulating Spare Change**: As you go about your daily spending,
'Changed' silently works in the background. For example, a $3.75 purchase is
rounded to $4, and the 25 cents difference is added to your round-up savings.

4. **Automated Debt Repayments**: Once your round-up savings reach a
predetermined threshold, the app automatically uses this amount to make
additional payments towards your chosen debt – be it a credit card bill, a portion
of a loan, or any other debt.

5. **The Benefit of Continuous Saving and Paying**: This continual process of
saving small amounts and using them to chip away at debts helps reduce your
principal faster, potentially saving you on interest and shortening the loan period.