Tag: Personal Finance

  • TomoCredit: 5 Life Essentials That Are Surprisingly Easy to Save Money On

    Living expenses have gone up. Groceries cost more. Utility bills feel less predictable. Even the basic things we buy without thinking twice can take a much bigger bite out of a paycheck than they did a few years ago.

    So, if your budget feels tighter even though your lifestyle has not dramatically changed, you are not imagining it—and you have not necessarily done anything wrong.

    You also cannot budget your way out of every financial challenge. We tell our clients at TomoCredit that there is only so much you can cut when housing, food, transportation, and other essentials keep getting more expensive. But there may still be a few places where relatively painless changes can create extra breathing room.

    Here are five life essentials that can be easier to save money on than you might think.

    1. Groceries

    Saving money on groceries does not have to mean living on instant noodles or spending your entire Sunday clipping coupons.

    Start by planning a few meals that use overlapping ingredients. If you buy spinach for one recipe, choose another meal that will use the rest of the bag. The same approach works for proteins, vegetables, sauces and fresh herbs—the foods that often end up forgotten in the back of the refrigerator.

    You can also:

    • Check what you already have before making your list.
    • Compare unit prices instead of looking only at the total price.
    • Buy store-brand basics when the ingredients are comparable.
    • Use frozen fruits and vegetables when fresh produce is expensive or likely to go to waste.
    • Choose one or two flexible “clean out the fridge” meals each week.

    The goal is not to buy the cheapest food possible. It is to waste less of the food you already paid for.

    2. Utilities

    Utility bills are essential, but portions of those bills may be more flexible than they appear.

    Begin with the habits that do not require you to make your home uncomfortable. Wash full loads of laundry, run the dishwasher only when it is full, unplug rarely used electronics and adjust heating or cooling when no one is home. If your utility company offers off-peak pricing, shifting laundry or other energy-heavy tasks to a cheaper time of day may help too.

    It is also worth reviewing your actual bill. Look for optional programs, equipment charges or changes in usage that you may have missed. Some utility providers offer free energy assessments, rebates on efficient appliances or reduced-rate programs for qualifying households.

    One small adjustment may not transform your finances. Several small adjustments repeated every month can still add up.

    3. Transportation

    For most people, transportation is not optional. Getting to work, school, appointments and the grocery store still has to happen. The opportunity is in making those necessary trips a little more efficient.

    Try grouping errands by location instead of making several separate trips throughout the week. Compare gas prices along routes you already travel, keep tires properly inflated and stay current on basic maintenance that can prevent more expensive repairs later.

    If you regularly use rideshare services, look back at your last month of trips. A ride that feels like a one-time convenience can quietly become a recurring expense. Public transportation, carpooling or walking may not work for every route, but replacing even a few rides each month can make a difference.

    The best transportation budget is not always the one with the lowest upfront cost. It is the one that accounts for gas, insurance, maintenance, parking, transit fares and rideshares together.

    4. Phone and Internet

    Phone and internet plans are easy to put on autopilot. That is exactly why they deserve a closer look.

    Review your plan and compare what you are paying for with what you actually use. You may be paying for more data, speed, storage or add-ons than you need. Older plans are not automatically better deals, and promotional rates can expire without much fanfare.

    Call your provider and ask whether a less expensive plan is available. You can also compare prepaid phone options, remove unused device protection or service add-ons, and check whether bundling—or unbundling—would cost less.

    Before switching, look at the full price after promotional periods end. A temporary discount is useful only if the long-term cost still works for your budget.

    5. Household and Personal-Care Products

    Cleaning supplies, paper products, toiletries and personal-care basics rarely feel like major purchases on their own. Together, they can become a surprisingly large spending category.

    This is where unit-price comparisons can be especially useful. A larger package is only a bargain if the price per item is lower and you will realistically use everything. Generic versions of basics may also work just as well as name brands, depending on the product.

    Try keeping a short inventory of the items you replace most often. Buying when you are nearly out—rather than completely out—gives you time to compare prices and avoid emergency convenience-store purchases. Just be careful not to turn “stocking up” into buying a year’s worth of products you did not need yet.

    Make Sure the Savings Actually Become Savings

    Finding a less expensive phone plan or cutting $15 from your grocery bill feels great. But unless you give that money somewhere to go, it can easily disappear into another category.

    When you lower a recurring expense, consider automatically transferring the difference to savings. If your new internet plan saves you $20 per month, schedule a $20 monthly transfer. You were already used to spending that money, so redirecting it can be less noticeable than trying to find an entirely new amount to save.

    For expenses that change from week to week, choose a realistic target rather than demanding perfection. If you normally spend $150 on groceries, you might aim for $140—not an unrealistic number that leaves you frustrated or underfed.

    Your Budget Should Make Life More Manageable

    The point of budgeting is not to make yourself feel guilty every time you spend money. It is to understand where your money is going and make deliberate choices where you still have some flexibility.

    With living costs rising, saving money on the essentials may require more effort than it once did. That reality deserves to be acknowledged. But a handful of manageable changes can still free up money for savings, debt payments, an emergency expense—or simply a little more room to breathe before your next paycheck.

    Start with one category. Find one expense you can lower without making your life significantly harder. Then make sure the difference goes toward something that matters to you.

  • How to Start Building Passive Income With the Money You Have

    Passive income has become one of those financial terms that sounds great until someone explains how to create it. 

    Invest in real estate. Build a stock portfolio. Buy a business. Create a digital product and sell it while you sleep.

    (At TomoCredit, we love a good passive income plan!) 

    The advice usually skips over one important question: What if you don’t have much money to start?

    For someone managing rent, groceries, student loans, credit card payments and everything else life throws at you, the idea of setting aside thousands of dollars for an income-producing investment can feel completely out of reach.

    But passive income doesn’t have to begin with a rental property or a six-figure investment account. It can begin with $10, $25 or $50 at a time. The amount may feel small at first, but the habit you are building is much bigger.

    Passive Income Starts With Ownership

    When you earn a paycheck, you are trading your time, skills, and energy for money. That income stops when you stop working.

    Passive income comes from owning something that can continue producing value: money in an interest-bearing account, investments that may appreciate or pay dividends, a product people can purchase repeatedly, or an asset someone pays to use.

    That distinction matters because there are only so many hours you can work. Even the most ambitious person eventually runs into the limits of time and energy.

    I learned early in my career that earning a good salary did not automatically create financial security. I was working as an investment banker, yet I was denied car financing because I didn’t have the credit history the lender expected. On paper, parts of my financial life looked strong. The system still did not know how to evaluate me.

    That experience changed how I thought about money. Income matters, but what you build and own with that income matters too.

    Start With the Money Already Sitting Still

    The easiest place to begin may be money you already have.

    If your emergency savings or short-term cash is sitting in an account earning very little interest, moving it to a competitive high-yield savings account can help it earn a return while remaining accessible.

    A small balance will not produce a dramatic amount of interest overnight. That is okay. The first goal is to stop letting your money sit completely idle.

    You can also automate a small transfer into savings each payday. Choose an amount that will not force you to move the money back before the end of the month. For one person, that may be $10. For another, it may be $100.

    Consistency is more valuable than choosing an impressive number you cannot sustain.

    Put Small Amounts to Work Automatically

    Investing is another way to begin building income and long-term wealth without waiting until you feel rich enough.

    Fractional shares now make it possible to invest without having enough money to purchase a full share of a company or fund. A person may be able to begin with the cost of one takeout meal rather than hundreds or thousands of dollars.

    For many beginners, a diversified, low-cost index fund may feel more manageable than trying to identify individual winning stocks. Some investments also pay dividends, which can be reinvested automatically to purchase additional shares.

    There is always risk involved in investing, and money needed for rent, bills, or an emergency does not belong in the market. But if you have a small amount you can leave invested for the long term, time can do a meaningful amount of the work.

    You do not need to watch the market every day. You need a reasonable plan, a manageable contribution, and enough patience to let the habit grow.

    If your employer offers a retirement plan with a company match, start there. A match is part of your compensation. Even if you cannot contribute the maximum, contributing enough to receive some or all of the available match can give your money an immediate boost.

    Turn Something You Know Into an Asset

    Passive income does not always require financial capital. Sometimes the starting point is knowledge, creativity, or work you have already done.

    A designer might sell templates. A fitness instructor could create a downloadable training plan. A teacher might produce study guides. A small business owner could package a process into a checklist, workbook or short course.

    These income streams are rarely passive in the beginning. Creating the product, setting up a way to sell it and helping people discover it all require work. The advantage is that the same product can potentially be sold more than once without recreating it for every customer.

    Start with a problem you already know how to solve. You do not need a giant audience or a complicated product catalog. One genuinely useful resource is a better starting point than ten rushed ideas.

    Reinvest the First Dollars

    When your savings earns its first interest payment, an investment pays a dividend or a digital product makes its first sale, the amount may seem almost comically small.

    Do not dismiss it.

    The first dollar proves that an asset you own can produce another dollar. Reinvesting that money gives the process room to compound.

    This is also where people often become discouraged. Social media tends to show the exciting outcome: the monthly income, the property portfolio, or the business that appears to run itself. It rarely shows the years of small contributions, trial and error, and reinvestment required to reach that point.

    Building passive income is usually slow before it becomes noticeable.

    Protect the Financial Foundation Underneath It

    Before putting money into any passive-income strategy, take care of the financial basics that keep one unexpected expense from knocking everything down.

    Build a cash cushion, even if it starts small. Understand the interest rates on your debt. Pay bills on time and monitor your credit. Avoid putting money into an investment or business idea based on pressure, hype or promises of guaranteed returns.

    You also do not have to wait until every part of your financial life is perfect. Someone can build emergency savings while contributing a small amount to a retirement account. You can pay down expensive debt while outlining a digital product that costs little to create.

    Your plan can move at the pace your actual life allows.

    Choose One Place to Begin

    If you want to build passive income but feel overwhelmed by the options, choose one action:

    Move existing savings into an account that earns a competitive return.

    Automate a small weekly or monthly investment.

    Contribute enough to begin capturing an available employer match.

    Identify one useful resource you could create from knowledge you already have.

    Reinvest the first earnings instead of immediately spending them.

    The best place to start is the one you can repeat.

    Passive income will not transform most people’s finances in a month. Over time, however, it can change the relationship between your time and your money. Every dollar no longer has to come directly from another hour of work.

    You may be starting with $10 while someone else is starting with $10,000. Their numbers will grow faster in the beginning, but that does not make your first step meaningless.

    Start with the money, time, and knowledge you have today. Build the habit first. The income can grow from there.

  • The New American Dream Is About One Thing: Freedom

    For decades, the American Dream came with a familiar checklist: build a career, buy a home, pay off the mortgage, and save enough to retire comfortably.

    Gen Z and Millennials haven’t necessarily rejected those goals. Most still want financial stability, homeownership, and the ability to build wealth. But they are questioning whether there is only one acceptable way to get there—and whether reaching those milestones is worth sacrificing their happiness, flexibility, and quality of life along the way.

    As someone who works closely with Gen Z and Millennial consumers, I don’t believe this shift is driven entirely by changing values or entirely by economic necessity. It’s both.

    When the Traditional Path Stops Working

    For many younger consumers, the process starts with trying to do everything the “right” way.

    They go to school, work hard, build careers, and attempt to save. But then they run into the reality of student debt, rising housing costs, inflation, and a financial system that can make it difficult to move forward without already having money or an established credit history.

    That struggle forces people to ask questions previous generations may not have confronted until much later in life:

    What do I actually want?

    Will reaching this goal make me happy?

    Is there another way to build financial security without making myself miserable?

    Economic pressure may be the catalyst, but the result is often a much more personal examination of what success should look like. The silver lining is that even though the traditional American Dream has become harder to achieve, younger generations are giving themselves permission to redefine it on their own terms.

    They also have access to tools that make that process easier. With AI financial assistants like TomoIQ, consumers can ask questions, better understand their financial situation, and explore their options without feeling embarrassed or judged. That access to personalized information can make people feel more empowered to make financial decisions that actually fit their lives.

    Younger Generations Have Options Their Parents Didn’t

    We also have to recognize that Baby Boomers built their careers in a completely different world.

    The Internet and social media created opportunities that were not available to previous generations at the same scale. Owning an online business, building a side hustle, freelancing, or working remotely can now provide a level of freedom that would have been nearly impossible for most workers 20 or 30 years ago.

    When someone can work from different locations, earn money through multiple channels, or build a career outside a traditional corporate structure, it naturally changes how they think about homeownership, retirement, and professional success.

    Why organize your entire life around retiring at 65 if you can create a life you don’t feel desperate to retire from?

    Why stay in one city for a job if your work can travel with you?

    Why rely on a single employer for your financial future when you have watched companies eliminate pensions, conduct mass layoffs, and replace longtime workers without hesitation?

    Gen Z and Millennials grew up seeing what happened when their parents and grandparents gave decades of loyalty to employers that did not always return it. It should not be surprising that they are more cautious about tying their identity, income, and future to one company.

    Wealth Is Still the Goal—But Not at Any Cost

    Younger Americans haven’t stopped caring about money. They have become more specific about what they want money to do for them.

    For many, wealth is valuable because it creates choices. It can provide the ability to leave a toxic job, spend more time with family, travel, pursue creative work, start a business, or live somewhere that feels right.

    That doesn’t mean long-term saving and wealth-building no longer matter. In fact, delaying homeownership or retirement contributions can carry real financial consequences. But telling younger consumers to simply sacrifice more ignores why they are making these decisions.

    They watched previous generations postpone their happiness for retirement, only to face layoffs, health problems, or financial setbacks before they ever reached the life they had been promised.

    Gen Z and Millennials understand that tomorrow is not guaranteed. They don’t want to spend the healthiest decades of their lives chained to a job, location, or payment they resent in exchange for the possibility of freedom later.

    They want to build wealth without giving up their happiness and sanity in the process.

    Employers and Financial Institutions Need to Listen

    The good news for employers, policymakers, banks, and financial technology companies is that younger generations are not hiding what they want.

    They are vocal about valuing flexibility, transparency, mobility, and quality of life. They want financial products that reflect how people actually earn, spend, and live today—not how the average consumer lived 40 years ago.

    Employers should understand that flexibility is not simply a workplace perk. For many younger workers, it is part of their definition of compensation and success.

    Financial institutions need to recognize that a consumer may have a strong income and responsible financial habits even if their career, credit history, or living situation does not follow a traditional pattern.

    Policymakers should consider how housing, student debt, benefits, and employment protections affect a workforce that is increasingly mobile and less connected to a single employer.

    The answers begin with taking younger consumers seriously instead of dismissing their priorities as unrealistic or entitled.

    The New American Dream

    At TomoCredit, we have learned that the desire to own a home and feel financially secure does not disappear when economic conditions become difficult.

    What changes is the path people are willing—or able—to take to get there.

    If I had to redefine the American Dream for 2026 in one word, it would be freedom.

    Older versions of the American Dream looked like freedom, but often came with restrictions: a 30-year mortgage, expensive car payments, a job you felt chained to, or a location you could not leave without risking your career.

    Younger generations are flipping that definition upside down. They are not asking only, “How much can I earn?” They are also asking, “What kind of life will that income allow me to live?”

    That isn’t the death of the American Dream.

    It may be the first time we’ve defined it by how life actually feels—not just by how it looks from the outside.

  • TomoCredit Named to the 2026 Inc. 5000 List of America’s Fastest-Growing Private Companies

    TomoCredit has officially been named to the 2026 Inc. 5000 list of the fastest-growing private companies in America!

    For more than 40 years, the Inc. 5000 has recognized the entrepreneurs and companies driving growth, creating jobs and transforming industries across the United States. Previous honorees include Microsoft, Meta, Chobani and Under Armour, putting TomoCredit in some truly incredible company.

    Companies on the 2026 Inc. 5000 are ranked by their revenue growth percentage from 2022 through 2025. To qualify, companies must be privately held, for-profit, based in the United States, and independently operated. Every honoree must also pass Inc.’s editorial review.

    Earning a place on this year’s list is an exciting milestone for TomoCredit and a meaningful sign of the growing demand for more accessible, personalized financial technology.

    Building a More Inclusive Consumer Finance System

    TomoCredit was founded by CEO Kristy Kim after her own experience navigating the U.S. credit system as a South Korean immigrant.

    Despite working as an investment banker, Kristy struggled to qualify for an auto loan because she did not have an established U.S. credit history. Her income and financial responsibilities could not offset the absence of a traditional credit score.

    Millions of immigrants, students, young adults, and credit-invisible consumers encounter similar barriers. They may be earning income, paying bills and working toward important financial goals, but the traditional credit system does not always provide a clear way for them to establish themselves.

    TomoCredit was created to give more people an opportunity to build credit and move forward financially.

    What This Means for AI-Powered Consumer Finance

    TomoCredit’s growth also reflects a major change underway in consumer finance.

    People want financial tools that understand their real questions and circumstances. They need clear, personalized guidance that can help them make decisions about credit, saving, spending and their long-term financial goals.

    Through TomoIQ, TomoCredit is using AI to make personalized financial guidance available to more consumers. The AI-powered financial assistant is designed to meet people where they are, answer their financial questions and help them better understand the steps they can take next.

    Personalized financial advice has historically been difficult or expensive to access. AI has the potential to bring that level of support to millions more people, including those who have often been overlooked by traditional financial institutions.

    TomoCredit’s place on the Inc. 5000 demonstrates that consumers are ready for financial technology that feels more accessible, useful, and personal.

    Celebrating the People Behind the Growth

    The Inc. 5000 measures revenue growth, but reaching this milestone requires trust.

    It requires customers who believe in the product, team members who continue to listen and improve, and a shared commitment to solving real financial challenges.

    This recognition reflects every customer who chose TomoCredit, every employee who helped build and grow the company, and every person who believed consumer finance could serve more people.

    We are incredibly grateful to everyone who has been part of TomoCredit’s journey.

    Making the 2026 Inc. 5000 is an achievement worth celebrating—and we are even more excited about what comes next.

  • How to Build Winning Consumer Finance Applications in the Age of AI

    Artificial intelligence is transforming nearly every industry, but few sectors have as much opportunity as consumer finance.

    Today’s consumers expect financial products to be as intuitive as the apps they use every day. They want faster decisions, personalized guidance, and experiences that feel simple—not overwhelming.

    At the same time, millions of people still avoid applying for financial products because they assume they’ll be denied, don’t understand how credit works, or simply don’t know where to begin.

    Building winning consumer finance applications isn’t just about adding AI. As we’ve learned at TomoCredit, it’s about creating experiences that help people feel informed, confident, and supported throughout their financial journey.

    During my recent interview with FintechTV, we discussed how AI is reshaping consumer finance and why personalization is becoming one of the industry’s biggest competitive advantages. (Watch the full interview below.)

    What Makes a Great Consumer Finance Application?

    The best consumer finance applications solve real problems for real people.

    That means moving beyond traditional application forms and creating experiences that help users understand their options while reducing unnecessary complexity.

    Successful financial applications typically focus on five core principles:

    • Simplicity over complexity
    • Personalization instead of one-size-fits-all experiences
    • Transparency throughout the application process
    • Trust through responsible AI and data protection
    • Education that empowers better financial decisions

    Technology should make finance feel easier—not more intimidating.

    Start With the Customer Experience

    Many financial products are designed around internal systems rather than customer needs.

    The most successful fintech companies flip that approach.

    Instead of asking, “What information do we need?” they begin by asking, “What is this customer trying to accomplish?”

    Someone building credit for the first time has very different needs than someone with years of financial history. A recent immigrant entering the U.S. financial system faces different challenges than a recent college graduate.

    Modern consumer finance applications should recognize these differences and adapt accordingly.

    AI Should Make Finance More Personal

    Artificial intelligence allows financial platforms to move beyond generic recommendations.

    Instead of presenting the same information to every customer, AI can provide personalized education, tailored financial insights, and next-best actions based on an individual’s unique circumstances.

    This creates a better customer experience while helping users make smarter financial decisions.

    The goal isn’t replacing people with AI.

    It’s helping people navigate financial decisions with greater confidence.

    Reduce Friction at Every Step

    Application abandonment remains one of the biggest challenges in digital finance.

    Every unnecessary question, confusing screen, or lengthy process increases the likelihood that someone gives up before completing an application.

    Winning consumer finance applications remove friction wherever possible.

    That includes:

    • Using plain language instead of financial jargon
    • Explaining why information is being requested
    • Providing real-time guidance throughout the application
    • Eliminating unnecessary steps
    • Designing mobile-first experiences

    Good design builds trust.

    Great design builds confidence.

    Trust Is the Foundation of Consumer Finance

    Financial institutions ask customers to share highly personal information.

    That means trust can’t simply be a marketing message—it has to be part of the product experience itself.

    Consumers should understand:

    • Why their information is being collected
    • How AI is supporting financial decisions
    • How their data is protected
    • What factors influence recommendations

    Transparency helps people feel more comfortable engaging with financial products.

    The Future of Consumer Finance Is Human-Centered

    The companies leading the next generation of fintech won’t necessarily be the ones using the most advanced technology.

    They’ll be the ones using technology to remove barriers, improve financial literacy, and create experiences that genuinely help people succeed.

    At TomoCredit, we’ve always believed that innovation should expand financial opportunity—not create additional complexity.

    AI gives us an incredible opportunity to personalize financial guidance, improve accessibility, and help more people build stronger financial futures.

    That’s the future of consumer finance we’re excited to help build.

    Watch the full FintechTV interview below to learn more about how AI is transforming consumer finance, personalization, and the future of financial technology.

  • TomoCredit Founder Kristy Kim Shares the Personal Story Behind Building TomoCredit

    From immigrating to the United States at age 11 to building TomoCredit, Kristy Kim reflects on the lessons, relationships, and risks that shaped her entrepreneurial journey.

    When people ask me what led me to build TomoCredit, they’re often looking for a single defining moment.

    The reality is much less straightforward. Like most entrepreneurial journeys, mine was shaped by a series of experiences, challenges, and lessons that gradually influenced the way I see opportunity, risk, and access.

    Recently, I found myself reflecting on the qualities that have had the greatest impact on my journey as a founder. Three themes kept surfacing: curiosity, adaptability, and trust. Looking back, those lessons show up in nearly every major chapter of my life, from immigrating to the United States as a child to working in investment banking and eventually launching TomoCredit.

    The Curiosity That Led to TomoCredit

    I’ve always been curious. As a child, I asked endless questions. As an adult, not much has changed.

    That curiosity is one of the reasons TomoCredit exists today.

    Before becoming a founder, I worked in investment banking. On paper, I had done everything right. I graduated from college, built a successful career, and had enough money in my bank account to purchase a car outright. Yet when I applied for a loan, I was denied.

    The reason wasn’t income or employment. It was credit history.

    I remember feeling completely confused. How could someone be financially responsible and still be locked out of the financial system?

    The more I learned, the more questions I had. Why were so many people being judged by a system that often failed to capture their actual financial behavior? Why were immigrants, students, and young professionals struggling to access opportunities despite having the ability to succeed?

    What started as a personal frustration eventually became a mission. The more I learned, the more I realized that millions of people were facing similar barriers. That curiosity ultimately became the foundation for TomoCredit.

    Learning to Adapt Before I Knew What Entrepreneurship Was

    Long before I became a founder, I had to learn how to adapt.

    When I was 11 years old, I left South Korea and moved to the United States to attend school. I left behind everything that was familiar and moved in with a host family.

    At the time, I didn’t fully appreciate how difficult that decision must have been for my parents. I was excited about the opportunity. Looking back now, I understand how much courage and trust it required from them.

    That experience taught me something that has continued to serve me throughout my career: very few things go according to plan.

    The transition from finance to entrepreneurship was filled with uncertainty. Building a startup required me to learn skills I never anticipated needing, navigate challenges I couldn’t have predicted, and make decisions without having all the information I wished I had.

    Today, adaptability feels more important than ever. Technology is evolving rapidly, industries are changing, and entire categories of work are being redefined. The people who thrive won’t necessarily be the ones with all the answers. They’ll be the ones willing to keep learning and adjusting as circumstances change.

    The Power of Relationships

    Many of the most meaningful opportunities in my life came through relationships I invested in over time.

    Not because I needed something from someone. Not because I was collecting business cards. But because I genuinely cared about building connections with people.

    Whether you’re building a company, hiring a team, raising capital, or launching a new product, very little happens alone. People remember whether you show up, follow through, and are willing to help when there’s nothing immediately in it for you.

    Trust is built through countless small actions that often seem insignificant in the moment but become incredibly meaningful over time.

    At TomoCredit, relationships have been central to everything we’ve built. From our customers and employees to investors and partners, every step of the company’s growth has been made possible by people who believed in our mission and chose to support it.

    The Greatest Gift My Parents Ever Gave Me

    Both of my parents are entrepreneurs in South Korea. Growing up, I watched them build businesses, solve problems, and navigate the realities of entrepreneurship long before I understood what any of those things meant.

    They taught me resilience, responsibility, and the importance of hard work. But the most impactful thing they ever gave me wasn’t advice.

    It was trust.

    When I was 11 years old and wanted to move to the United States, they could have easily said no. Looking back now, I can only imagine how frightening that decision must have been. Instead, they chose to trust me. They believed in me before I had accomplished anything that would justify that belief.

    That trust changed the way I viewed myself and what I believed was possible.

    Every major chapter of my life since then has required stepping into uncertainty. Moving across the world. Working in investment banking. Starting TomoCredit. Raising capital. Building a team. Launching new products.

    None of those decisions came with guarantees.

    What my parents taught me is that waiting for certainty is often a losing strategy. Progress usually requires conviction, preparation, and a willingness to move forward despite uncertainty. It also helps to have people who believe in you and provide a foundation strong enough to support those risks.

    The Lessons Behind TomoCredit

    When people look at TomoCredit today, they see a financial technology company focused on helping people build credit and access opportunities. What they don’t always see are the experiences and lessons that shaped the company’s mission in the first place.

    TomoCredit exists because I was curious enough to question a system that didn’t make sense. It exists because I learned to adapt when plans changed. And it exists because people believed in me long before there was evidence that they should.

    Looking back, those lessons have shaped far more than my career. They’ve shaped the way I approach life. And I suspect they’ll continue to do so for many years to come.

    Editor’s Note: Kristy Kim recently discussed her entrepreneurial journey, leadership philosophy, and personal story in an interview with Bold Journey. Read the full interview here.

  • Can You Get an Apartment With No Credit? Here’s What Landlords Look For

    You’ve found the perfect apartment. The location is great. The rent fits your budget. You’re ready to sign the lease.

    Then the landlord asks you to fill out an application and wants to see your credit score. 

    Cue the panic. 

    If you’re a student, a recent graduate, an immigrant, or someone who simply hasn’t had the chance to build credit yet, this moment can feel incredibly frustrating. As you know, this is a struggle our founder and CEO, Kristy Kim, experienced firsthand. 

    It sucks because you can afford the rent. You have a job. You pay your bills on time.

    So why does your credit history matter when renting an apartment?

    The good news is that getting an apartment with no credit is absolutely possible. The bad news is that it may require a little extra preparation.

    If you’re wondering, “Can I rent an apartment with no credit?” or “What credit score do I need to rent an apartment?” here’s what you need to know.

    Can You Rent an Apartment With No Credit?

    Yes, you can get an apartment with no credit history.

    Having no credit is not the same thing as having bad credit.

    When a landlord sees no credit history, it simply means there isn’t enough information available for them to evaluate how you’ve managed credit in the past. That uncertainty can make some landlords cautious, but it doesn’t automatically disqualify you from renting.

    Many people rent their first apartment with no credit history at all.

    This is especially common among:

    • College students
    • Recent graduates
    • Young professionals
    • Immigrants moving to the United States
    • People who have never used a credit card
    • Individuals who are new to building credit

    The key is understanding what landlords look for beyond your credit score.

    Why Do Landlords Check Your Credit?

    When landlords review a rental application, they’re trying to answer one simple question:

    Will this person reliably pay rent every month? And since credit reports are still the way that businesses in the U.S. evaluate financial responsibility, it’s the first question they ask. 

    A credit report can help provide insight into a person’s financial habits and payment history.

    Some landlords look for:

    • On-time payment history
    • Existing debt obligations
    • Collections accounts
    • Bankruptcies
    • Overall credit profile

    However, credit is only one part of the rental application process.

    Many landlords understand that responsible people can have limited credit history, especially if they’re renting their first apartment.

    What Credit Score Do You Need to Rent an Apartment?

    One of the most common questions people ask is:

    “What credit score do I need to rent an apartment?”

    The answer depends on the landlord, property management company, and local housing market.

    Some landlords may accept applicants with no credit history. Others may have minimum credit score requirements.

    In competitive rental markets, stronger credit can help your application stand out. In other situations, landlords may focus more heavily on income, employment, and rental history.

    There is no universal minimum credit score for renting an apartment.

    That’s why it’s important to focus on the factors you can control.

    What Landlords Look for Besides Credit

    If you have no credit history, landlords may evaluate other aspects of your financial situation.

    Proof of Income

    Income is often one of the most important factors in a rental application.

    Many landlords want to see that your monthly income is at least two to three times the monthly rent.

    Documents that may help include:

    • Pay stubs
    • Employment offer letters
    • Tax returns
    • Bank statements

    A stable income can help reassure landlords that you’ll be able to make rent payments consistently.

    Rental History

    If you’ve rented before, a positive rental history can strengthen your application.

    Previous landlords may be able to confirm:

    • On-time rent payments
    • Responsible tenancy
    • Lease compliance

    Even if you don’t have a credit history, a strong rental history can help demonstrate reliability.

    Savings and Bank Statements

    Some landlords may consider your savings account balance when evaluating your application.

    Having emergency savings can demonstrate financial stability and provide additional confidence that you’ll be able to meet your rental obligations.

    Employment Stability

    A steady job often matters just as much as a credit score.

    If you’ve recently started a new position, an employment verification letter or signed offer letter may help support your application.

    Should You Use a Cosigner?

    If you’re trying to rent an apartment with no credit history, a cosigner can be extremely helpful.

    A cosigner agrees to take responsibility for the lease if you cannot make payments.

    Parents, family members, or trusted relatives often serve as cosigners for students and young renters.

    Because the cosigner’s credit and income are also considered, landlords may be more willing to approve the application.

    Can Building Credit Help You Rent an Apartment?

    Absolutely.

    While it is possible to rent an apartment with no credit, building credit can make future rental applications much easier.

    A strong credit profile may:

    • Increase rental approval odds
    • Reduce security deposit requirements
    • Expand housing options
    • Improve negotiating power
    • Make future financial milestones easier

    This is one reason many people start building credit before they begin apartment hunting.

    The earlier you start, the more opportunities you’ll have down the road.

    Why Credit Matters for More Than Just Apartments

    One of the biggest surprises for many people is how often credit comes up in everyday life.

    Your credit history may influence:

    • Apartment applications
    • Credit card approvals
    • Auto loans
    • Mortgage applications
    • Insurance rates
    • Utility accounts

    That’s why building credit isn’t just about borrowing money. It’s about creating a financial reputation that can help open doors in the future.

    If you’re wondering whether you can get an apartment with no credit, the answer is yes.

    Many landlords consider factors beyond your credit score, including income, employment, rental history, savings, and cosigners.

    That said, building credit can make the apartment search process easier and give you more options over time.

    Whether you’re renting your first apartment, moving to a new city, or starting fresh in the United States, understanding your credit profile can help you feel more confident throughout the process.

    That’s where TomoIQ can help.

    Instead of generic financial advice, TomoIQ provides personalized insights to help you understand your credit profile, identify opportunities to strengthen it, and make informed financial decisions as you work toward your goals—including finding your next apartment.

  • I Asked ChatGPT How to Build Credit. Here’s What It Got Right (And Wrong)

    If you’ve ever Googled a financial question, you’ve probably noticed that the internet is not short on opinions. Want to know how to build credit? There are thousands of articles. Wondering what a good credit score is? You’ll find pages and pages of advice.

    Now, a lot of people are skipping Google altogether and heading straight to ChatGPT.

    It makes sense. Instead of sorting through ten articles and a Reddit thread from 2017, you can ask a question and get an answer in seconds. As someone who has spent years helping consumers navigate credit, I was curious how good those answers actually are. So I decided to run a little experiment.

    I asked ChatGPT a simple question: How do I build credit if I have no credit history?

    The answer was pretty good.

    It explained that payment history is important, recommended keeping balances low, and suggested opening a starter credit card. None of that advice was wrong. In fact, it’s the same advice you’ll find in many financial literacy articles.

    But the more I read the response, the more I realized something important: ChatGPT was giving me information, not guidance.

    The Problem With Generic Financial Advice

    The challenge with credit building is that there isn’t one path that works for everyone.

    A recent college graduate has different financial needs than a recent immigrant. Someone who has never had a credit card faces different challenges than someone trying to rebuild after a financial setback. Two people can ask the exact same question and need completely different answers.

    That’s where ChatGPT—and honestly, most financial advice online—starts to fall short.

    The advice is designed for an average person. The problem is that most of us aren’t average. We all bring different experiences, goals, and financial histories to the table.

    When I asked ChatGPT how to build credit, it couldn’t tell whether I had recently moved to the United States. It couldn’t tell whether I’d been denied for a credit card three times already. It couldn’t tell whether I was trying to establish credit while avoiding debt altogether. If you’re new to the U.S. check out this article about building credit. 

    Those details matter. In many cases, they’re the difference between advice that sounds good and advice that actually helps.

    Financial Education Has Never Been More Accessible

    To be fair, I think AI has the potential to make financial education dramatically more accessible.

    For years, many people felt intimidated asking financial questions. They worried about sounding uninformed or didn’t know where to start. AI removes some of that friction. It allows people to ask basic questions without judgment and get answers immediately.

    That’s a good thing.

    If ChatGPT encourages someone to learn how credit works, understand their credit score, or take an interest in their financial future, that’s a win.

    The issue isn’t that AI is providing bad information. The issue is that information alone doesn’t always solve the problem.

    What People Actually Need

    In my experience, most people don’t need another article explaining what a credit score is.

    They need help figuring out what to do next.

    Should they apply for a card now or wait?

    Should they focus on paying down balances first?

    Should they become an authorized user?

    Are they even looking at the right financial product for their situation?

    Those are harder questions because they depend on context.

    That’s why personalized guidance matters. The best financial advice isn’t just accurate. It’s relevant.

    Where Personalized AI Comes In

    This is exactly the gap we think about when building products at TomoCredit.

    General-purpose AI tools are designed to answer questions. They’re trained to provide useful information to millions of people at once. But personal finance isn’t really a one-size-fits-all problem.

    That’s why we built TomoIQ differently.

    Rather than offering the same generic response to everyone, TomoIQ is designed to understand where someone is in their financial journey and provide recommendations that are actually relevant to their circumstances. The goal isn’t just to explain credit. The goal is to help people make better financial decisions based on their own situation.

    Because knowing how credit works and knowing what to do next are two very different things.

    My Final Take

    After running this experiment, as someone who has been down this road before, my conclusion is pretty simple.

    ChatGPT is surprisingly good at explaining the fundamentals of credit. If you’re looking to learn the basics, it’s a fantastic place to start.

    But when it comes to making real financial decisions, context still matters. Your goals matter. Your history matters. Your circumstances matter.

    AI can answer questions. The future of financial wellness will belong to tools that can understand the person, asking them.

    And that’s a much harder problem to solve than explaining what a credit score is.

  • Can AI Help You Build Credit Faster? Here’s What Actually Works in 2026

    Not long ago, if you wanted help building credit, your options were limited, to say the least. You opened a secured credit card, became an authorized user on someone else’s account, or crossed your fingers and hoped Father Time would do the rest. Building credit often felt like one long waiting game, and for many people, the rules were not exactly clear.

    Now people are asking a different question: can AI help?

    It makes sense. AI is already helping people write resumes, plan trips, organize their schedules, and answer questions they may not feel comfortable asking someone else. Financial questions are starting to fall into that category, too. More consumers are turning to AI for budgeting help, investing questions, and everyday money decisions. Naturally, many are beginning to wonder whether AI can help improve one of the most important numbers in their financial lives: their credit score.

    The answer is a little more nuanced than a simple yes or no. AI cannot magically raise your credit score overnight. There is no secret button or shortcut. But AI can help people make better decisions, develop stronger habits, and avoid the common mistakes that slow progress. And those small decisions matter.

    (Which is exactly why we created TomoIQ, our own personal finance AI advisor.) 

    Credit building has always had a guidance problem

    One of the biggest issues with credit building is that most people were never taught how it actually works. You can graduate from college without understanding utilization ratios. You can pay rent on time for years and still struggle to establish a meaningful credit history. You can make every payment and still stare at your score, wondering why it barely moved.

    I’ve spent years in personal finance hearing versions of the same story again and again. People are not irresponsible. They’re not lazy. Most are trying their best with incomplete information.

    That challenge becomes even bigger for immigrants, young adults, first-time borrowers, and anyone starting with little or no credit history. Financial systems often assume people already understand the rules, but many are trying to learn as they make important financial decisions.

    Sometimes people do not need another financial product. They need better guidance.

    So what can AI actually do?

    The easiest way to think about AI is as a financial assistant rather than a credit-building shortcut. AI is good at recognizing patterns and surfacing insights that can help people make smarter decisions.

    For example, AI-powered financial tools can help people understand the factors that affect their scores, identify spending patterns, monitor balances, and answer questions in real time. They can also offer reminders and personalized recommendations based on financial behavior.

    That last part matters more than people realize.

    A lot of financial stress comes from embarrassment. People often avoid asking money questions because they think they should already know the answer. Questions like: “Should I pay off this card first?” “Why did my score drop?” or “Is using too much of my limit hurting me?”

    These are incredibly common questions. People ask them every day. AI can create a judgment-free place where people can ask for help immediately, rather than delaying financial decisions because they feel overwhelmed or unsure.

    What actually helps build credit faster?

    The fundamentals still matter. Technology can help support better habits, but the habits themselves remain important.

    Keeping your credit utilization low is one of the biggest factors. Even if you pay your bills on time, using a large percentage of your available credit can impact your score. Many experts recommend staying below 30%, and lower can often be even better.

    Payment history is another major factor. Missed payments can significantly affect your score, which is why reminders, alerts, and personalized support can be useful tools for staying consistent.

    Building credit also requires demonstrating healthy financial behavior over time. That means responsible card use, on-time payments, and a track record of stability. There is rarely a dramatic overnight transformation. Credit building has always been more about consistency than speed.

    Money is becoming more personal

    People already expect personalized experiences almost everywhere else in life. We receive recommendations for movies, shopping, music, and fitness routines. Financial tools are starting to evolve in that direction, too.

    People want tools that understand where they are financially, rather than where a traditional system assumes they should be.

    At Tomo, we’ve always believed financial products should work for everyday people, especially those who have historically been overlooked by older systems. That belief helped inspire TomoIQ, our AI-powered financial companion designed to help people navigate financial decisions with practical guidance and support.

    Because financial advice should not feel like a test you forgot to study for.

    Can AI then actually help you build credit faster?

    Not by performing magic tricks in the background. But it can help people build stronger habits, make more informed decisions, and feel more confident about their next financial move.

    When it comes to credit, better information and consistency have always gone a long way. AI simply gives people another tool to help get there.

  • Why Gen Z Is Using ChatGPT for Financial Advice

    People aren’t just looking for answers. They’re looking for a safe place to ask questions.

    Not long ago, if you had a question about money, you searched Google, asked a financially savvy friend, or reached out to your bank. Today, more and more people—especially younger consumers—are opening ChatGPT first.

    At first glance, that sounds like a story about technology. But I think it’s actually a story about trust.

    People are asking AI questions they often feel uncomfortable asking another person: Why was I denied for a credit card? Is my credit score bad? Can I afford this apartment? Am I behind financially? These aren’t just financial questions; they’re emotional ones. Money carries anxiety, embarrassment, and pressure in ways we rarely talk about openly. For many people, asking for help can feel vulnerable.

    That’s why I think this shift matters. Younger generations aren’t adopting AI simply because it’s faster or more convenient. They’re using it because it creates something traditional financial systems often haven’t: a judgment-free environment.

    Finance has always had an accessibility problem

    Historically, financial advice hasn’t been built for everyone. Many traditional financial tools assume consumers already understand the system. Advisors often cater to higher-net-worth individuals, and financial products frequently expect users to arrive with a baseline level of financial knowledge.

    But millions of people are learning as they go.

    Immigrants arrive in the U.S. with no local credit history. Recent graduates enter adulthood with student loans and little financial guidance. Freelancers navigate inconsistent income. First-generation Americans often learn the rules of finance without family roadmaps.

    This is something I understand personally.

    When I immigrated from South Korea to the United States, I had done everything I thought I was supposed to do. I worked hard, had a great job, graduated from a great school, but without a U.S. credit profile, I was completely invisible to the system. 

    That experience shaped my perspective because I realized financial systems often confuse missing information with risk.

    Millions of people are still experiencing that today.

    AI may be solving a problem that banks underestimated

    One of the most interesting things happening right now isn’t AI replacing financial professionals. It’s AI becoming a first stop for questions people might otherwise avoid asking.

    Unlike people, AI doesn’t make someone feel embarrassed for asking the same question five times. You can ask it to explain APR like you’re twelve. You can admit you don’t understand credit utilization. You can ask a “basic” question without feeling like you’re behind everyone else.

    That dynamic matters more than many people realize.

    The conversation around AI often focuses on whether it can replace advisors or automate financial guidance. I think the more important question is why consumers increasingly feel more comfortable asking AI than asking traditional institutions.

    Because that tells us something about what people were missing in the first place.

    The future of finance is guidance, not just information

    For years, financial products acted like dashboards. They showed people account balances, credit scores, and transaction histories and expected them to figure out what those numbers meant on their own.

    But younger generations increasingly want financial products that act more like guides.

    They want context. They want personalization. They want tools that don’t simply display information but help explain what to do next.

    That thinking influenced how we built TomoIQ.

    At Tomo, we saw an opportunity to rethink what financial guidance could look like. Instead of building another product that simply shows people data, we built TomoIQ as a personalized AI financial assistant designed to help everyday consumers better understand and navigate their financial lives.

    Most financial tools have historically catered to people who already have money, already understand the system, or already know the right questions to ask. But millions of Americans are trying to decide how to build credit, improve financial habits, manage emergencies, or make everyday decisions with less than $1,000 in savings.

    Those consumers deserve guidance, too.

    AI should not only help people optimize wealth. It should help people build it.

    The biggest financial problem might not be debt—it might be shame

    I believe one of the most overlooked barriers in personal finance today is shame.

    Financial anxiety causes people to delay asking questions, avoid checking accounts, or postpone learning because they worry they’re already behind. Often, the issue isn’t motivation. It’s discomfort.

    Technology alone won’t solve that. But creating environments where people feel safe enough to ask questions might.

    Maybe that’s why younger consumers are increasingly turning to AI for financial advice.

    Not because they trust machines more.

    Because they’re still searching for financial experiences that feel human.