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Personal finance

Have Financial Support in College? You Should Still Be Thinking About Your Financial Future.

Have Financial Support in College? You Should Still Be Thinking About Your Financial Future.

Have Financial Support in College? You Should Still Be Thinking About Your Financial Future.

Some of you are lucky enough to have financial support from parents or other family members as you go through college, and we get it. While there's nothing to be ashamed of, don't let that keep you from building your credit score and developing a healthy relationship with your finances. We promise you'll be glad you did.

Some of you are lucky enough to have financial support from parents or other family members as you go through college, and we get it. While there's nothing to be ashamed of, don't let that keep you from building your credit score and developing a healthy relationship with your finances. We promise you'll be glad you did.

Some of you are lucky enough to have financial support from parents or other family members as you go through college, and we get it. While there's nothing to be ashamed of, don't let that keep you from building your credit score and developing a healthy relationship with your finances. We promise you'll be glad you did.

Apr 3, 2023

Sam Lipscomb

3

min

College is a place where people from lots of different economic backgrounds come together to learn and grow. While our relationships with money may vary, the thing we all have in common is the fact that we need money in order to move through the world. Whether you come from an affluent background or are putting yourself through college, you still need a way to pay for food, housing, tuition and other basic expenses.

If you’re lucky enough to have financial support from your parents, grandparents, friends or other sources as you navigate your college experience, you may feel like building your credit score and preparing for your financial future can wait. After all, money can be a confusing topic that feels best when it’s held at arm’s length. But even when you have someone or something else helping you along financially, it’s still extremely important to prepare for your financial future.

For someone who gets financial help from their parents, it may be easy to brush this kind of thinking aside. But you likely won’t be able to rely on them for the rest of your life. Applying for an apartment or a car loan after graduation may not go over very well if you haven’t built your credit score. Figuring out how to budget and invest even the most lucrative salary post-college is a difficult task for someone learning about it for the first time. So what should you do?

Steps You Can Take

Simply put, support from your parents can keep your head above water. But it isn’t a long-term solution to leading a financially healthy life. That isn’t to say that you shouldn’t accept financial help from sources like your parents. We’re just saying that if you’re lucky enough to have financial support, there are still steps you should take to set yourself up for success.

1. Build Your Credit Score

Building your credit score is one of the most important things you can do as a college student. A better credit score will save you money on mortgages and car loans by giving you access to more approvals and lower interest rates. But that’s not all. A credit score can give you access to things you might not be able to get even with money at your disposal. Fancy credit cards, certain apartment rentals, and even some jobs are only available to those with solid credit.

One of the best ways to build your credit as a college student is with Fizz. Fizz is a debit card for college students that helps you build your credit, and you can sign up right now. You don’t need to go through a credit check, there are no hard pulls on your credit, and you can even earn rewards in the process. All you need to do is fill in some information, connect your checking account and spend like you would with your bank-issued debit card.

2. Ask Questions

We know, this isn’t the sexiest advice, but there’s nothing like getting curious, sitting down, and scratching that itch of curiosity. Even if you have financial support from your parents, you probably still have questions, right? What even is a credit score? How can I invest in things? What should I do with the money I have to spend? All of these are great questions, and you’re way ahead of the game just by asking.

Lucky for you Fizz has you covered. Our team is always hard at work developing new content that’s there to answer all of the questions you have. Whether it’s something small, like the definition of a term like credit utilization, or something big, like why paid internships are especially important during college, we’ve got the answer for you. And we’re happy you’re asking, because that’s the first step towards a better and healthier relationship with money.

3. Budget, Save, Invest

If you’re in a position where you’re getting money to support yourself during college, you’re lucky. It’s a good idea to take the opportunity to work out a budget just as you might if you were supporting yourself on your own. This won’t only help you build better financial habits - it can also help you put even more money in your pocket. The same goes for investing and saving. By working out a system for allocating your allowances, you’re setting yourself up for success in the short-term and the long run.

Final Thoughts

Of course, only some students are lucky enough to receive financial support as they go through college. And we certainly acknowledge how much of a blessing that is. But if you are indeed lucky enough to fall into this category, it’s important to remember that you shouldn’t skimp on developing a healthy relationship with money. Looking at your financial support like an earned salary can be a good way of contextualizing things and can even encourage you to budget, save, and invest.

You shouldn’t forget about your credit score, either. In the past, students have often steered clear of credit cards due to their high fees and interest rates along with their stringent approval requirements. With Fizz, those problems can be a thing of the past, and you can build your credit score worry-free. With a higher score comes better loan terms, more job opportunities, and access to certain apartments, just to name a few things. And those, my friends, are things that money can’t buy.

Sam Lipscomb

Author bio

Sam is a Kenyon College alum and is head of content at Fizz. He's been a go to personal finance resource among his peers since getting his first credit card during his sophomore year of college. He hails from Washington, DC, loves all things aviation, and currently lives in Los Angeles.

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WeWork c/o Fizz; 154 West 14th Street; New York, NY 10011

ShoulderTap Technologies Inc. d/b/a Fizz (“Fizz”) is not a bank. Banking services are provided by Patriot Bank, N.A. Fizz Mastercard Debit Cards (“Fizz Cards”) are issued by Patriot Bank, N.A. pursuant to a license from Mastercard® and may be used everywhere Mastercard® debit cards are accepted. Any loans you may be offered in connection with your use of Fizz’s services are originated by Lead Bank, a Missouri state-chartered bank. Any promotions or rewards you may be offered in connection with your use of Fizz’s services are offered and managed by Fizz, not our bank partners.

Increases or specific changes to your credit score are not guaranteed. Impact on your credit score may vary depending on your use. Fizz is required to report late payments, which may negatively impact your credit score. Credit scores are independently determined by credit bureaus based on a number of factors, including your activity with other creditors. The Fizz Card and related services will not remove negative credit history from your credit report. Fizz, on behalf of Lead Bank, will report your activities to Experian®, and Transunion®.For additional information, terms and conditions applicable to your use of Fizz’s services, please consult Fizz’s Terms of Use and Privacy Policy, the ShoulderTap Technologies Inc. d/b/a Fizz Consumer Cardholder Agreement, any Line of Credit Agreement in effect between you and Lead Bank and any and all other applicable terms, policies and guidelines made available to you through the Fizz services.

Testimonial Disclaimer: Review provided by customer to ShoulderTap Technologies, Inc. d/b/a Fizz directly. The comment above is related to individual experiences or results. Individual results may vary.

© Fizz Inc. © 2024 All Rights Reserved.


WeWork c/o Fizz; 154 West 14th Street; New York, NY 10011

ShoulderTap Technologies Inc. d/b/a Fizz (“Fizz”) is not a bank. Banking services are provided by Patriot Bank, N.A. Fizz Mastercard Debit Cards (“Fizz Cards”) are issued by Patriot Bank, N.A. pursuant to a license from Mastercard® and may be used everywhere Mastercard® debit cards are accepted. Any loans you may be offered in connection with your use of Fizz’s services are originated by Lead Bank, a Missouri state-chartered bank. Any promotions or rewards you may be offered in connection with your use of Fizz’s services are offered and managed by Fizz, not our bank partners.

Increases or specific changes to your credit score are not guaranteed. Impact on your credit score may vary depending on your use. Fizz is required to report late payments, which may negatively impact your credit score. Credit scores are independently determined by credit bureaus based on a number of factors, including your activity with other creditors. The Fizz Card and related services will not remove negative credit history from your credit report. Fizz, on behalf of Lead Bank, will report your activities to Experian®, and Transunion®.For additional information, terms and conditions applicable to your use of Fizz’s services, please consult Fizz’s Terms of Use and Privacy Policy, the ShoulderTap Technologies Inc. d/b/a Fizz Consumer Cardholder Agreement, any Line of Credit Agreement in effect between you and Lead Bank and any and all other applicable terms, policies and guidelines made available to you through the Fizz services.

Testimonial Disclaimer: Review provided by customer to ShoulderTap Technologies, Inc. d/b/a Fizz directly. The comment above is related to individual experiences or results. Individual results may vary.

© Fizz Inc. © 2024 All Rights Reserved.


WeWork c/o Fizz; 154 West 14th Street; New York, NY 10011

ShoulderTap Technologies Inc. d/b/a Fizz (“Fizz”) is not a bank. Banking services are provided by Patriot Bank, N.A. Fizz Mastercard Debit Cards (“Fizz Cards”) are issued by Patriot Bank, N.A. pursuant to a license from Mastercard® and may be used everywhere Mastercard® debit cards are accepted. Any loans you may be offered in connection with your use of Fizz’s services are originated by Lead Bank, a Missouri state-chartered bank. Any promotions or rewards you may be offered in connection with your use of Fizz’s services are offered and managed by Fizz, not our bank partners.

Increases or specific changes to your credit score are not guaranteed. Impact on your credit score may vary depending on your use. Fizz is required to report late payments, which may negatively impact your credit score. Credit scores are independently determined by credit bureaus based on a number of factors, including your activity with other creditors. The Fizz Card and related services will not remove negative credit history from your credit report. Fizz, on behalf of Lead Bank, will report your activities to Experian®, and Transunion®.For additional information, terms and conditions applicable to your use of Fizz’s services, please consult Fizz’s Terms of Use and Privacy Policy, the ShoulderTap Technologies Inc. d/b/a Fizz Consumer Cardholder Agreement, any Line of Credit Agreement in effect between you and Lead Bank and any and all other applicable terms, policies and guidelines made available to you through the Fizz services.

Testimonial Disclaimer: Review provided by customer to ShoulderTap Technologies, Inc. d/b/a Fizz directly. The comment above is related to individual experiences or results. Individual results may vary.