If you asked your friends and family about budgeting, most will admit they struggle to stick to a budget, and some won’t have one at all. But they’re not alone.
Many of us struggle to practice good financial habits, and if we’re honest, we don’t know enough about personal finance in general. In fact, two-thirds of Americans can’t pass a basic financial literacy test. Yes, you read that correctly.
We desperately want financial freedom, but we don’t know the first thing about getting there, and we need help. According to founder and serial entrepreneur Michael Gerrald, that’s exactly why he launched the Qore Finance blog.
Qore Finance helps readers understand financial concepts in a way that’s not only actionable but culturally relevant. To Gerrald’s surprise, the blog is already receiving high praise from market critics and readers alike. Gerrald is new to the blogging space and initially launched Qore Finance as a complementary side project to Qore, a fintech company focused on helping users achieve their financial goals and the parent company to the Qore Finance blog. Gerrald and his team still needed to complete the prototype for the Qore app when loyal followers kept asking for financial content. Gerrald decided to launch the Qore Finance blog in the meantime to satisfy the demand, and it took off.
“Most people I knew growing up didn’t have a good understanding of finance and ended up making bad decisions,” Gerrald says. “Finance can be so intimidating and traditional that, for generations, it completely shut out most of us, especially communities of color”, Gerrald stressed–and he’s right. Most people have what Gerrald calls “FOF” or fear of finance, and while the industry has made some progress in making financial information more digestible to the average person, communities of color are often completely overlooked. The Qore Finance blog prides itself on making personal finance relatable and easy to understand, for everyone. The blog articles address financial problems that disproportionately impact people of color and young adults who are just now getting their feet wet in areas like investing and homeownership. For them, it appears this isn’t simply a blog, but more like a financially savvy advisor or best friend of sorts.
“When people read our articles, they get it–immediately,” says Gerrald. “Launching the blog was so critical because so many of us need financial content that’s both accurate, engaging, and importantly, culturally relevant,” he adds. “We’re trying to keep up with the demand. Our readers are hungry for more information”.
It seems like Qore Finance is shaking things up in the financial world, and it’s just the first stepping stone towards the launch of the Qore app, creating a suite of financial resources for Qore users.