Teen Money Expectations vs. Reality
November 28, 2011
By Karyn Hodgens
One of the many things I love about kids is their optimism. As parents, we don't want to crush that spirit! Then again, somehow we need to gently let our kids know that while a human tele-porter, for instance, isn't something we can help them build, maybe a pulley system from one side of the room to the other, is. It's about guiding their enthusiasm in a realistic direction.
Consider a recent Schwab 2011 Teens and Money Survey. A full 81 percent of teens aged 16 - 18 plan to choose a career either because they're passionate about the work or they feel it will help them do good for others. And that's great because we want our children to grow up and be happy in their professional lives. Besides, a happy workforce is a productive workforce!
Young America Saves Featured at President's Council on Financial Capability Listening Session
November 21, 2011
By George Barany, Director, Financial Education and Youth Saves
This past Wednesday, President Obama’s Council on Financial Capability held a listening session in Chicago that featured two distinct initiatives of the Young America Saves campaign in Illinois, Young Illinois Saves and three other initiatives led by City Treasurer Stephanie Neely, Network for Teaching Entrepreneurship, and the college access program Ladder Up.
The event at Michelle Clark High School was attended by more than 100 civic and educational leaders including Council Chairmen John Rogers, CEO of Ariel Investments and council member and Beth Kobliner, national financial journalist. These civic and educational leaders had the opportunity to see the peer based program that generates positive savings behavior led by Young Illinois Saves.
From High School to College
November 16, 2011
Kiara Hardin, Illinois College Freshmen
The transition from high school to college has been hard, stressful, fun and exciting. Senior year teachers stress the fact that college is nothing like high school and to be honest it isn’t. The opportunity to be away from family puts a bunch of pressure on time management skills as well as money management skills.
Starting college, I did not have a budget plan so I found myself spending money on things I really did not need. I would go to Wal-mart and buy the expensive brand name food. Also, I would go out or order in instead of using my meal plan. Every college student that resides in a dorm has an id that has preloaded money on it for food so there is no need buy anything besides snacks. I also spent money on movies from the local movie store instead of saving money with a plan like a Netflix account.
Don’t Increase Debt During the Holidays
November 15, 2011
By Katie Bryan, America Saves Communications Manager
I read an article yesterday that Americans will spend an average of $719 on holiday gifts this year. And it seems like there are even more temptations to spend this year – from stores opening early on Thanksgiving to commercial jingles about using layaway.
With all these temptations around, it’s important to remind ourselves that there is more to the holidays than gifts and that we SHOULD NOT spend money we don’t have. Roughly one in six Savers that has joined America Saves has selected paying off consumer debts as their wealth-building goal. We want to help savers achieve this goal and be able to buy the gifts they need to this holiday season. Here are a few tips to keep in mind:
- Keep Gift Giving to a Minimum
- Figure out which gifts are absolutely essential – often times this will be gifts for a child or loved one.
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