You can find Interchange on the Bond website, Spotify, Apple or your favorite podcast platform. 

Debt is a slippery slope. If you’re not careful, before you know it, you could slip down the debt slip n’ slide and find yourself at the bottom of the hill with a substantial amount of student or credit card debt. 

The average American carries $37,693 in student loan debt and $6,194 in credit card debt. In many ways, debt is in our DNA as a nation; it’s built the United States historically into what it is but, today, it’s crushing average Americans. We need help as a country and someone to help us help ourselves. Qoins is exactly that hero. 

Qoins helps consumers build and automate the habit of paying down their debt by rounding up their purchases, applying that amount to their debt, and can also facilitate extra debt payments each month. 

Throughout our conversation, we picked up three takeaways from Christian that we want to share. 

Automate the habit 

Most of our financial woes come from forming bad habits. Habit formation is one of the hardest and also most rewarding things to do as a human, if you do it right: going to the gym, saving money, brushing your teeth...all good habits.

On the other hand, bad habits can bury us in mountains of debt, unhealthy lifestyles, and bad breath. Some habits you can’t automate. If only we could automate going to the gym, we’d be a much healthier society, however, saving money and paying down debt are habits we can automate. 

Qoins gives consumers the ability to automate  good habits and help erase the pain of being in debt. 

Build a pain reliever, not a vitamin

To date, Qoins has helped pay off over $20 million in consumer debt, but they’ve raised just a little over $2 million themselves. That proves that the problem that Qoins is solving for is greatly needed. People are searching high and low for a product that will help them get out of debt. 

Qoins built a product that gets the consumer moving in a positive direction with building good financial habits. Eventually, Christian and his team want to help folks live healthy financial lives over the long haul. The first step is to help them get out of debt with the right tools. 

Build the pain reliever, remove the pain, and then inject the vitamins into the mix to reach maximum financial health. 

Integrate vertically

Bond and Qoins are partnering to build a debit card for Qoins’ customers that will allow for a vertically integrated spending, saving, and debt repayment all in one spot. The more of the experience Qoins controls, the more tailored solutions they can provide to their users. 

Not to mention, decreasing third party risk associated with connections to external cards that often break and interrupt the debt repayment momentum users have built up. Once Qoins is in control of the flow, they will also be able to improve the experience dramatically — something  Qoins will be able to make happen every time a user swipes their card. 

If you’re building something unique or want to come help build something unique, we’d love to see either one. Reach out to zach@bond.tech, let’s chat.