NEW YORK, NY / ACCESSWIRE / October 29, 2020 / Luke Woodruff's BumpUp has launched. BumpUp is an innovative application that is making saving through change possible with the use of a secure link to credit and debit cards. The BumpUp application easily and securely transfers accumulated spare change from people close to the user, such as a parent, a grandparent, or any loved one.
Just like most college students who go through a variety of challenges while in school, Luke Woodruff was not spared from the need to hustle in order to survive. Working several jobs helped his financial needs, but his experiences were not without any difficulties. Inspired by his personal struggles, he developed BumpUp, an application designed to help college students survive by saving spare change roundups from the support of others.
Understanding that surviving being away from home while in college is no easy feat, Woodruff aims to help educate college students on the importance of learning how to save early on. While they can survive by working part-time, it is undeniable that they also need help from people in their family circle. BumpUp allows the seamless execution of this simple method-sharing spare change to help a loved one. The application user can enjoin members of his family to participate in a unique set up that means to help him survive the daily challenges of surviving while in college.
Woodruff can easily relate to the many financial struggles of college students today as he himself experienced the same thing. While he was attending the University of Colorado at Boulder, the effort of raising funds to pay his rent, monthly utilities, groceries, school expenses, and car payment was a constant uphill journey that went on for five excruciating years.
Woodruff spearheaded the creation of BumpUp from ideation to design, development, and its final launching. He is hopeful that the application he developed will be his legacy to millions of individuals around the country who struggle to finish college.
By simply enlisting the support of a personal network, people can receive round-ups from direct members of their family or any person who agrees to support them financially using the app. The app is designed to be secure, fast, and extremely easy to use. Once the funds are processed, users get savings on the same day. BumpUp automatically rounds purchases to the nearest dollar and transfers all the remaining change to a secure Bump Banking account. The more people enlisted, means more savings for the user.
It is worth noting that among 28 million college students in the country today, 69% have student loans and need financial support. 70% of college dropouts are attributed to financial limitations, and 78% of recent college graduates who are in the workforce are living paycheck to paycheck.
Unlike many of its competitors, BumpUp focuses on the short-term needs of its users, such as rent, utilities, groceries, and student loan and car payments. Its competitors mostly focus on long-term saving goals such as a house or other retirement investments, which does not allow for immediate access to liquid cash.
At present, BumpUp is all about educating the general public that such a seamless technology exists and that there is a way for people to effectively help one another without breaking the bank.
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