Esusu: Save More Money with Your Friends and Family
In cultures around the world families and friends pool their money together into a single pot of money. The process is called esusu, and a new app has adopted the name and making the process easier than ever.
Abbey Wemimo is the co-founder of Esusu. As an immigrant himself, Wemimo's mother practiced esusu and used that financing strategy to send Wemimo to school.
Wemimo explains that the main focus is to create a platform for immigrants and people of color, but of course he would be happy for all Americans to use the platform. Accessibility was a key factor in developing Esusu, which is why Wemimo says the company built a phone-based app.
Bitcoin's rise to the mainstream has been a wild ride this year. The cryptocurrency is trading a little under $49,000 Wednesday morning and is set to finish the year sharply higher than where it began earlier this year. Ether prices also soared this year, rising from $730 per coin to nearly $4,000. Ben Armstrong, founder of Bitboy Crypto, joins us to discuss what's in store for crypto in 2022.
The fitness industry was one of the most severely impacted at the start of the pandemic. As the omicron variant of COVID-19 threatens fitness centers and gyms, the Global Health and Fitness Association, along with the Community Gyms Coalition, are calling on the federal government to provide pandemic relief before the close of 2021. Crunch Fitness Franchise CEO Ben Midgely joined Cheddar to talk about proactive steps gyms are taking to maximize business as COVID resurges. "It should be a little bit easier," he said. "We hate to have to deal with it again, but it's what businesses in this country have to work with."
According to the FAA, airlines have reported over 5,000 incidents involving unruly passengers this year, with more than 3,600 of those involving people who refused to wear face masks. As a result of all this, airline crews are calling on the federal government to step in to implement protocols to help ensure safety on the ground and while in flight. President of the Association of Flight Attendants- CWA Sara Nelson, joined Cheddar to discuss more.
The NHTSA is investigating Tesla over the potential for crashes and distracted driving due to its front touch screen "Passenger Play" game option. The probe covers 580,000 vehicles for all four models from 2017 to 2022.
Cheddar is looking back at the 12 biggest buzzwords of the year leading up to Christmas. The term for Day 11 is Fundamentals. Definition: (noun) information related to a business' profitability, revenue, assets, liabilities, and growth potential.
Google CEO Sundar Pichai addressed staff about workplace culture concerns after they expressed issues with what they perceived as a lack of honesty, candor, and humility from their executives. Pichai attributed some of the challenges to remote communication during the ongoing pandemic.
With Christmas just days away and people rushing out to get last-minute shopping done, Derrick Kinney, host of the "Good Money" podcast, joined Cheddar to provide some financial tips so shoppers can avoid major holiday debt. He suggested people wait until after the holiday to give gifts if possible because stores will likely have discounted goods. For those looking to save a little extra cash around this time of year, Kinney also suggested that they adjust their "commoditized items" like auto insurance and shop for better deals.
