Debt in America has gotten out of control. Schools aren’t teaching students about how to make money, how to keep money, or how to grow money. If our institutions aren’t giving our youth the tools they need to succeed, who can we rely on?
I’m Bryan Uribe, and I founded Yofii after my first struggle with credit card debt. At the young age of 19-years old, while in college I needed a laptop, like most college students. I had always heard credit cards were a great way to build your credit score, and it just so happened I had a brand new, shiny, credit card with 0% interest for 18-months. I proceeded to buy myself a nice laptop for $2,400 and paid $100 for each month across the next 18-months.
Quick math, because Yofii loves quick math!
18 months x $100 = $1,800
$2,400 (laptop price) – $1,800 = $600
On the 19th month, I expected to owe only $600 and was ready to pay my remaining balance in full. When I went to pay, I was surprised by a remaining balance of about $1,100. This was mind-blowing, frustrating, and sobering.
This experience inspired me to improve how people interact with credit cards, their personal finances, and money! As someone who went on to attain their Bachelor’s Degree in International Business Management and their Master’s Degree in Marketing, I never expected this would happen to me. The reality is, financial literacy is at an all-time low, and we (the Yofii team) believe technology can bridge the gap for the masses!
I’m responsible for making sure we execute on our mission of making financial freedom accessible! Feel free to keep me accountable!