Paying for Utilities
When Mom and Dad are footing the bill for air conditioning and satellite TV, most kids probably have no idea what those cost. Unfortunately, moving out means a rude awakening when young adults realize that electricity, gas, internet, and Netflix don’t just pay for themselves. Those monthly bills can have a long-term effect on credit scores if they aren’t paid on time every month. Teaching students about the importance and luxury of their everyday utilities can help them understand that there’s no such thing as a free lunch—or Netflix binge.
As young adults transition from their parents’ nest to flying solo, they might not realize that what seems like a screaming deal on a great apartment is less affordable when the costs of utilities enter the equation. In the Banzai app, students get a chance to see the true cost of rent when given the option to move to a new place.
Maybe they move in with a roommate to split costs, skip TV packages in favor of cheaper streaming services, or even score a discount through autopay, but it’s all about making sure students have control over their own bottom line and their own consequences.
Paying bills on time won’t do much to improve credit. But having a utility bill go to collections will put a dent in a young adult’s shiny new credit score.
Taking on more responsibility and take charge of utilities is a big step in becoming more financially stable for life. It’s pretty hard to catch up on the latest season of Stranger Things without an internet connection, and no one likes a cold shower. That’s why Banzai Teen and Plus teach about paying for utilities in situations students understand.