Teaching kids about credit scores, budgeting, and personal finance is important, but it isn’t always easy. There’s no one way to go about it. You can give your kids an allowance, you can make them get part-time jobs, you can even cut them off completely and make them learn things on their own. But the data says that even these options fall short in helping young adults become financially independent.

A recent survey by the Pew Research Center showed that 24% of kids under the age of 22 are financial independent, while 64% of parents said that their kids should be financially independent by the age of 22. To make matters worse, personal finance anxiety is a top 3 cause of mental health issues amongst college students. There’s a clear disconnect between the education young adults need and the education that they’re actually getting.

How does Fizz help?

Schools don’t typically teach personal finance, and it’s not the most common topic of conversation among peers and friends. As a result, kids and young adults are often left to fend for themselves when it comes to learning about money. Parents might be able to provide insights, but pitfalls still exist. Predatory credit cards with high fees and interest rates are still out there, coaxing young adults into overspending, going into debt, and ruining their credit scores.

This is where Fizz comes in. Fizz is a debit card for college students that helps build credit, and there’s no credit check, so there’s no worry about getting a hard pull on your credit. Fizz links to your bank account and provides a daily credit limit reflective of your account balance. Instead of building up big balances over the course of a month, your Fizz card is paid off each business day. This keeps you from overspending and makes it easy to see exactly how much you have in your connected bank account each day - just like a normal debit card. And instead of interest rates and hidden fees, Fizz only makes money through interchange fees charged to merchants and a simple membership fee, so more money stays in your pocket.

There’s no catch. Even if you happen to miss a daily payment (a process that you can automate with daily Autopay), your card will lock and you’ll have at least 30 days to make the payment before anything is reported to the credit bureaus. Fizz is safe, secure, and easy to use. Plus, you can earn cash back when you spend online and around campus.

The credit effect

Plenty of parents add their children to their credit card accounts as authorized users, hoping to build their credit in the process. But did you know that this doesn’t have the same full and robust credit building effect that a Fizz card can have? It all comes down to what’s actually reported to credit bureaus.

When you’re an authorized user on an account, your data may not be reported to credit bureaus at all. If your data is reported, it’s reported that you’re an authorized user, not that you have your own credit card. And while that might be good enough for some loans, lenders are typically going to want to see borrowers with their own lines of credit - not ones that they get through their parents. With Fizz, you get your own line of credit for maximum credit building effect.

Why should you care?

Fizz can help young adults build their credit scores, but it can help with more than that too. Because Fizz cards are paid off on a daily basis, it becomes easier to budget and to see exactly how much you’ve spent just by looking at your bank account balance. Fizz has all the benefits of a debit card and a credit card, without the drawbacks of either one. It’s safe, secure, and the best way for young adults to spend money while they’re in school.

That’s what makes Fizz great for its college-age users, but as a parent, you have a horse in the race as well. The less financially literate and independent your children are, the more likely it is that you’ll be on the hook for supporting them financially. You don’t want to have to cosign for an apartment or a car loan once your child graduates. From food, to living expenses, to shopping sprees, to the cost of tuition, not only are you stuck paying a hefty subsidy - you’re also keeping your children from learning valuable skills that will help them throughout life.

On top of everything else, financial independence and know-how is a foundation for success in all parts of life. People who know how to manage their finances themselves tend to be happier and better suited for work, life, love, and more. And it all starts with Fizz.

The bottom line

Parent’s should be looking for any opportunity that makes it easier for their kids to learn about personal finance and work towards financial independence. Fizz does exactly that. Not only does Fizz help build credit, it does so without charging interest rates or hidden fees (the only fee you'll ever owe is a simple membership charge). It connects to your existing bank account to prevent overspending, and your purchases are paid off on a daily basis to keep you from going into debt. The cherry on top? The Fizz app and website have tons of free personal finance resources that can help users learn more about their personal finances.

Don’t wait until it’s too late. Building credit and healthy financial habits starts early. So download the Fizz app and get your very own card today!