When it comes to economics, many teens’ mouths write checks their knowledge can’t cash. Help influence the financial literacy of a teen in your life with these practical money-management tips.
5 Financial Tips for Teens
(Family Features) When it comes to economics, many teens’ mouths write checks their knowledge can’t cash.
While 93% of American teens say they know how the economy works, 29% have had no economic schooling, according to a survey of 1,000 U.S. teens ages 13-18 by Wakefield Research on behalf of Junior Achievement and the Charles Koch Foundation. Even in light of their false confidence, teens are aware of the importance of financial education.
Although the study identified numerous gaps in economic and financial knowledge, it also showed teens do know where to look for credible information. Two-thirds (67%) recognize they should use their school as a resource.
“One of the things we hear often is that some textbooks are written too academically for most students to understand the concepts,” said Jack E. Kosakowski, president and CEO of Junior Achievement USA. “Our programs, which work as a complement to the school curriculum, are written from the perspective of today’s teens and use digital content to help bring economic concepts to life for students.”
Beyond the classroom, another 63% of students believe they should use their parents as resources for economics education. Help influence the financial literacy of a teen in your life with these practical money-management tips adapted from the curriculum.
Set goals. Managing your money is more meaningful when you’re doing it with purpose. This might mean budgeting to ensure you have enough money to maintain your auto insurance and keep gas in your car, or you may be saving for a big senior trip. Knowing what you want to achieve with your money can help you plan how you spend it more wisely.
Weigh needs vs. wants. When you begin making your own money, it’s easier to indulge your own wishes and spend money on things you don’t necessarily need. To some extent, that’s not a bad thing; rewarding yourself is fine when you do so within reason. That means not exceeding your available funds, and not forsaking things you truly need, like gas money to get to and from a job or school.
Get a debit card. Most people find that having cash on hand makes it easier to spend. If you use a debit card instead, you’re an extra step away from spending so you have a little more time to consider your purchase. Another benefit of a debit card is it helps track your purchases in real time so you can keep constant tabs on your balance and ensure you don’t overdraft your account.
Start a savings habit. Even if your income doesn’t allow for much, it’s a good idea to get in the habit of setting aside a portion of each check. It may only be $10, but over time each $10 deposit can build your account toward a long-range goal.
Protect your privacy. Teens who’ve grown up in the digital age tend to be less skeptical and cautious about privacy matters than their elder counterparts. It’s important that young people understand the potential impact of failing to protect their privacy when it comes to financial matters, including the possibility that their identities could be stolen and all of their money siphoned away. Teaching kids about security is an essential lesson in economics.
Visit ja.org for more tips and information to help raise your teen’s financial literacy.
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The open road, independence and the flexibility to work how and when you want. Reasons why trucking is a great job.
(BPT) - To truly understand the impact the trucking industry has on our economy, walk into any business, retail shop or grocery store and take a look around. Nearly everything you see was delivered there by a truck. In fact, according to the American Trucking Associations’ (ATA) Freight Transportation Forecast, 70 percent of all freight in the U.S. is handled by trucks. It is awe-inspiring to realize one industry has such an enormous impact on everything we do, purchase and consume in our everyday lives. Quite simply, trucks keep America moving, and without them, America stops.
Imagine going to your favorite grocery store to pick up your family's dinner and seeing the shelves empty, or stopping by the corner hardware store for light bulbs only to find they're not available. If it's not during the aftermath of a weather disaster, we can't readily imagine such a scenario happening in this country. That's because 3.5 million professional drivers are always on the job, working day and night to make the deliveries that keep our economy humming.
But, it's getting more and more difficult for the industry to keep up with demand. There's a severe shortage of professional truck drivers on the road today, and it's expected to get even worse. The ATA estimates that the industry will face a 175,000-driver shortfall by 2026. Ask any professional driver and they'll tell you the same story: They get headhunting emails and calls from recruiters every day, and their own companies are so short-staffed they need to put in extra shifts just to cover all of the routes.
That's why the ATA is partnering with Pilot Flying J, the largest network of travel centers in North America, to raise awareness of the profession, recruit new drivers, and celebrate the tremendous contributions of professional drivers to our nation's economy.
It's ironic that there's a shortage in this profession, because those same drivers who remain committed to the industry and to keeping our economy moving will tell you how much they love the job.
"My father was a driver and as far back as I can remember, truck driving is all I've ever wanted to do," says Steve Brand, a professional driver who has spent 27 years with FedEx Freight. Brand is a member of the ATA America's Road Team, a national public outreach program of professional truck drivers who share superior driving skills and safety records. "Trucks move America forward and it's a great feeling knowing I have a small part in that."
Other benefits of being a driver?
* Independence. When you're in a big rig, nobody is looking over your shoulder telling you how to do your job. It's like being your own boss.
* Freedom. If an office job isn't for you, trucking is a perfect choice. You're out on the open road, and not tied to a desk.
* Flexibility. There isn't just one kind of driving. Want to see the country driving from coast to coast? You can do that. Want to come home to your family every night? You can do that, too, and myriad options in between.
* Pay. ATA’s recent Driver Compensation Study found that the average salary for a truck driver ranges from $53,000 to $86,000 depending on the type of employer and type of equipment operated.
Coupled with not having the crushing student debt that college graduates are carrying around, it makes for a very good living.
Opportunities. Since the industry is hurting for drivers, it's a job seeker's market out there. Recent grads from driving schools are in high demand, and can pick and choose the job that's right for them.
Brand counsels potential recruits to choose a reputable school for proper training and then seek out a top-rated company, or find a company that has its own school.
"I go to bed happy and wake up happy knowing I'm making a difference," he says.
Pilot Flying J is making a difference, too. As part of its partnership with the ATA, Pilot Flying J recently announced a $60,000 philanthropic gift to the ATA's Trucking Cares Foundation to help support professional drivers and the future of the industry.
“Hardworking professional drivers make many sacrifices to keep our economy moving and our ways of life possible,” said Ken Parent, president of Pilot Flying J. “As we face a growing driver shortage, our hope is that this contribution will help support the Trucking Cares Foundation’s mission to improve the safety, security and sustainability of the trucking industry and contribute to the future growth of the industry through education and training.”
To learn more about becoming a professional driver, visit the ATA at www.trucking.org.
(BPT) - It's almost that time of year again - you prepare for the holidays and start thinking about what you want your New Year's resolution to be.
According to research from Nielsen, one quarter of Americans want to spend less and save more money in the New Year. If you're one of these people, follow these five easy tips to stay on track financially in 2017.
Automate payments into your savings account.
When payday rolls around, it can be tempting to pocket every last dollar. But realistically, it's difficult to save money that's right in front if you. Instead, automate payments into your savings account before it makes it to your checking account. This way, you won't miss it from your budget, and you'll be on the road to staying true to your New Year's resolution all year.
Everyone knows eating out is more expensive than dining in, but you might not even realize how often you're doing it. When you're on the go, buying lunch or ordering take-out, costs quickly add up. Pre-planning and preparing meals for the week ahead will not only save money but help you eat healthier at the same time.
Rethink your wireless plan.
Do you feel like you're paying too much for your data? In 2017, set yourself free from your overpriced wireless plan. For only $40 a month, Net10 Wireless' no contract cell service makes this easy. You'll get nationwide coverage on one of America's top four networks and the first 3 GB of data at high speeds, then at 2G*. Plus, you can make the switch while keeping your current phone and number with the Net10 Wireless Bring Your Own Phone program. "Ringing" in the New Year is all about making changes for the better, and switching your plan could save you lots in the long run.
Bring the gym home.
Exercising is important, but monthly gym membership fees can make a huge dent in your savings. Instead, try working out at home for a few months by following exercise videos, running outside (weather permitting) or modifying your favorite utilizing home items. If that's not enough, try pay-per-class offerings coupled with your own exercise outside of the gym.
Cut out your cable bill.
Similar to spending too much on a cell data contract, your monthly cable bills could also be hindering your financial goals. How often do you really watch specialty channels anyway? Opting for monthly streaming services can cost you as low as $7.99 per month while offering the same programs and movies you love. Meanwhile, the average cable bill is $99 per month. Making the switch could save you more than $1,000 per year, which just goes to show how sticking to your New Year's resolution can pay off.
*At 2G speeds, the functionality of some data applications, such as streaming audio or video may be affected. Please refer always to the latest Terms and Conditions of Service at NET10wireless.com.
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