Money Sense

HOW CAPWAY IS TEACHING MILLENNIALS TO BECOME FINANCIALLY HEALTHY FOR THE FUTURE

- Theo Daniels

IT AS BEEN WELL DOCUMENTED that the economic challenges millennials will be facing are in part due to the unfathomable amount of student loan debt they have and the uncertainty of the job market.

Enter Sheena Allen, the co-founder of Capway, a company whose mission is to create the opportunity for people to become financially healthy by helping them understand money and how to use it. The 29-year-old entrepreneur, who founded Sheena Allen Apps in 2011, came up with the idea for Capway in early after seeing how people of her hometown, Terry, Mississippi, had become victims of a predatory economy. Because the residents live in a banking desert, they relied on alternative financial services AFS such as payday lending, title loans or pawn shops.

“I knew the world of people being under served very well. They’re [living] paycheck to paycheck,” she says.