Personal financial firm Credit Karma and rapper IDK are uniting to launch a contest to help Generation Z erase debt and manage money.
Contestants will be asked to provide details on their personal debt quest. They must share how they got into debt, what they are doing to get out of debt, and how they have overcome debt, according to Qnewscruch.com.
They can reportedly be one of five people who get a shot to win $10,000 to help deplete their debt by entering the contest,
After the competition, Credit Karma will launch “Midday with IDK,” a YouTube-based talk show to help young people manage their money. Hip-hop artists BIA, 24kgoldn, DJ Millie, Buddy, and Zach Bia, will purportedly make appearances.
Credit Karma believes the YouTube show can “help normalize conversations about money and let people know they’re not alone in their journey, while also helping a few people make real financial progress,” Forbes reported.
IDK claims his education in money management started with a video game he played in the sixth grade that highlighted the fundamentals of making money by becoming a merchant. Players could earn a virtual Santa Claus hat that gave them status within the game, something the rapper likens to today’s NFTs or non-fungible tokens.
IDK credited Credit Karma for helping educate him about money matters: “I was addicted to Credit Karma, using it every week to learn about the importance of credit and financial literacy.”
Others have benefitted as well. Some 35% of Gen Zers (21 to 25 years old) and millennials (26 to 40 years old) said they use Credit Karma at least once a month, based on a consumer study conducted by Cornerstone Advisors.
The partnership with Credit Karma is not IDK’s first rodeo tied to providing financial management education. Earlier this year, the rapper reportedly taught a 10-day course at Harvard University, educating young, aspiring musicians about particulars of the music business.
Tag @creditkarma on social media and use #contest to submit your entry.