Priceless experiences require money. We want to travel the world, eat exotic cuisines, attend music festivals, and buy one-of-a-kind apparel from local businesses. These experiences make our lives awesome. However, mainstream financial services that help us afford these priceless experiences often come with a price tag that is not in our best interest.
Think about how most mainstream financial services work, such as banks, check cashing retailers, pre-paid debit cards, credit cards and remittance companies. Their profit model relies on onerous fees, many of which are hidden or we assume are necessary evils. Take overdraft fees for example. The more we overspend, the more fees the bank collects. Last year, U.S. banks raked in over $11 billion in overdraft fees, amounting to 8% of their profit.
As we fall behind, our credit score plummets, we face escalated interest rates, and life becomes infinitely more expensive. In fact, people who can least afford it often face the highest costs, particularly for financial services. In the U.S. alone, 68 million people are either unbanked or underbanked either by choice or by circumstance.
Saving and Growing Your Money With Meed
Let’s find better methods to save and grow our hard-earned money sustainably so that we can afford our priceless experiences whenever we want and no matter how old we get.
So, what are these better methods? Fortunately, less expensive and more equitable options are emerging in the fintech space, such as the financial services package that Meed’s Member Banks will provide. Through the Meed mobile app, Meed’s Member Banks worldwide will provide a comprehensive suite of services that have been designed based on conversations with struggling people all over the globe.
We all want to live the good life, and we know that takes money. But, as opposed to traditional mainstream services, Meed’s Member Banks are creating a socially conscious financial ecosystem that puts our financial mobility and stability at the forefront.
By joining Meed’s global network and inviting others, we can earn an additional stream of income every month, while simultaneously saving for ourselves and sharing with those who need it most. The more people we refer who become Meed users, the more income we can earn. This feature is called SocialBoost. In addition, Meed’s Member Banks offer low-cost international money transfers, a line of credit secured by our savings account, a debit card, no overdraft fees, credit-building and much more.
As Abraham Lincoln so wisely said, “In the end, it’s not the years in your life that count. It’s the life in your years.” Meed’s Member Banks can help us all achieve the kind of lifestyle and priceless experiences we desire and deserve. But we must all work together to grow Meed’s global network in order for SocialBoost to give us the greatest return. So let’s start spreading the word.