Renting an Apartment
One of the large steps in a young adult’s life is that of striking out on his or her own. Renting an apartment seems like an intimidating prospect, but Banzai helps users feel more prepared for the ups and downs of renting while they develop their financial independence.
In Teen and Plus, players are confronted with the choice to move to a new apartment. They have to consider price, commuting distance, the condition of the apartment, and so on.
Students have to think about the most logical approach to renting an apartment. We encourage this by talking about trade-offs, one of our most important philosophies about personal finance: most financial decisions aren’t inherently good or bad; they just mean spending more or less in another category.
Banzai players also have to confront the realities of renting like security deposits, everyday supplies for the apartment, and even insurance (read our companion article about renter’s insurance).
In Plus, players have to decide whether to move at all from the apartment they start out with. If they decide to share the apartment with a roommate, their expenses greatly decrease.
The only downside—or trade-off—of moving to a new apartment in this scenario is that it triggers a hard inquiry into your credit report, but it’s not significant enough to really affect players’ ability to qualify for a mortgage at the end of Plus.
We prepare young adults to strike out on their own by giving them the facts and helping them navigate the trade-offs of renting an apartment.