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TEEN
CENTER :: CONSUMER ED
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MAY 2007
Driving
a Smart Bargain
No matter how you view it, cars are pricey. Unless you have
a generous relative or a giant pile of savings, you're probably
going to have to settle for a small, inexpensive compact or
a used car, or you're going to have to take out a loan.
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APRIL 2007
The
Numbers That Drive Stocks
The
state of the economy, and how investors interpret it, at any
given time plays a starring role in determining what investments
are worth. Knowing what's happening in the economy can help
you understand if it makes more sense to buy shares of Wal-Mart
Stores or Bank of America.
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MARCH 2007
The
Styles of Wall Street
Shoppers
have their own styles. There are those who pay full price
for brand-name products with proven quality. Then there are
those who scour the bargain bins and clearance racks, hoping
to snag a deal on a gem that others have overlooked. And some
do a little bittle of both. Investors have different styles,
too. Some lean toward stocks of companies that have a strong
record of fast-growing profits. Others go for stocks that
appear to be bargains.
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FEBRUARY 2007
The
Center of the Universe
The media
throw around the term "Wall Street" so casually--"Stocks
surged on Wall Street today ..."--that the place almost
seems mythical, like Main Street, U.S.A. But
Wall Street is a real place. It's a short, narrow lane in
Lower Manhattan. And at the corner of Wall and Broad streets
stands the New York Stock Exchange, the center of the financial
world. Despite
its concrete geography, however, Wall Street really is a catchall
phrase for the entire investment universe-stocks, bonds, mutual
funds, investors, the stock markets, banks, brokerage firms
and the all people who work in the investment industry.
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JANUARY 2007
In
Case of Emergency
Insurance
gets no respect. But without it, all the personal wealth you
manage to amass is at risk when bad things happen to you or
your property.
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DECEMBER 2006
The
Trouble With Budgets
'Budget'
is the four-letter word of personal finance. Find out why
a monthly spending plan may be a better option.
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NOVEMBER 2006
Dealing
With Cards
A credit card is a financial tool that allows you to purchase
goods and services when you don't have the necessary cash on
hand. And like any tool, a credit card can work productively
or destructively.
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The
Basics of Debt
Debt is a very simple concept: You borrow money you don't
have to buy something you otherwise can't afford to pay for
now. In many instances, debt can be a means to a valuable end,
particularly when used prudently to purchase things that hold
long-term value, such as an education, a home or a small business.
But debt can also tear your life apart.
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Money
in the Bank
Almost
all banks offer a standard choice of financial accounts, but
each bank puts its own spin on what bells and whistles each
product features and charges a different set of fees. Thus,
it pays to understand the basic types of accounts, and then
spend a little time researching the various offerings available
at the banks in your town.
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| 2005-2006 |
Back
on Course
Everyone
makes mistakes, especially when it comes to money. The good
news is that our financial systems are largely set up to forgive
little mistakes and, for the most part, to work out big financial
blunders. The bad news is that, as with any overindulgence,
fixing the issues may take time and be somewhat painful.
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The
Smart Money
To get big rewards,
you often have to take a big risk. Interestingly, while you’re
balancing your own risks and returns, companies that you want
to do business with are often looking at you with the same trade-off
in mind. Throughout your life, they are going to assess how
chancy you are, and that will determine how generously they
treat you. When they take big risks, they expect big rewards.
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Benefits
of a Part-Time Job
Should you take a part-time job? Help-wanted signs are
sprouting at the mall. A job means college savings, new skills
and an attention-getting line on a college resume, right? "Mythical
bunk," says Laurence Steinberg, a Temple University psychology
professor who studies teens in the workforce. Above 10 hours
a week, the more hours teenagers work, "the worse it is"
for them, he warns. For life lessons and college admissions,
he adds, teenagers are better off "playing on the field
hockey team than slinging tacos at a fast-food restaurant.
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Think
Health Insurance Is Costly?
No matter how carefully you plan your spending and
count your pennies, unexpected expenses always seem to pop up.
The trickiest—and probably the most expensive—of
the unanticipated budget busters is health care.
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JANUARY
2006
Your
First Real Job
As
you make the transition from school to work, there will also
be some real financial costs for you to shoulder. And in that
mountain of paperwork that you fill out, there will be major
decisions to make, some of which could have a surprisingly long-term
impact on your future wealth.
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DECEMBER
2005
'Tis
the Season for Giving
There
are lots of ways to support your community. But none are quite
the same as making a real cash donation to a charity. A donation
is also a sign of your financial independence, your ability
to show what's important to you by deciding how to use your
money. Columnist Karen Blumenthal offers a few things to consider
before you make a donation.
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NOVEMBER
2005
From
No to Yes
Negotiating
is one of those basic skills that can come in handy in all kinds
of situations, especially ones that involve big financial purchases.
But doing it well takes some thought and practice. To give you
a leg up, Consumer Ed asked negotiating experts to share their
secrets. This month's column features some of their best advice.
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OCTOBER
2005
Card
Tricks
For
people who get carried away with spending and find themselves
deep in debt, filing for bankruptcy can offer a fresh start.
But starting in October, a new federal law will make it much
harder for borrowers to wipe away their debts. Why does this
matter? Because it means that the seemingly little choices you
make when you're on your own for the first time can snowball-and
they can haunt you for a very long time.
RESOURCES:
Bank Web sites
--Bank of America
--Citibank
--J.P. Morgan Chase
--MBNA
--Wells Fargo
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SEPTEMBER
2005
Warning:
The Future Is Here
Futurists
have talked for years about a checkless society, one where
the basic tools of banking--paper checks, deposit slips, receipts
and statements--become obsolete. Today’s teenagers may be
the first to actually live it. But a more convenient banking
system doesn’t necessarily mean a safer one. In fact, teenagers
who embrace electronic banking need to be especially vigilant
in the face of potentially costly computer errors and security
threats.
RESOURCES:
Checking Accounts and Electronic Banking
--Consumer
Action
--Federal
Trade Commission
--Federal
Deposit Insurance Corp.
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| 2004-2005 |
MAY
2005
Safe
at Home
After
enduring all the rules of living at home and then suffering
through a few years of crowded college dorms, your first apartment
can seem like heaven on Earth. But even when you have your own
place, you aren't home free, so to speak.
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APRIL
2005
Freedom
Isn't Free
Your
own car. Just thinking about it conjures up glorious images
of freedom--freedom from carpools and parents' schedules, the
freedom to come and go as you please. Unfortunately, someone
has got to pay for your wheels. And if that someone is you,
you'll quickly find that a car is one of the biggest financial
burdens out there.
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MARCH
2005
Making
Ends Meet
In
theory, managing your money is simple: Add up how much will
be coming in, and then budget how much can go out, trying to
set a little aside for emergencies. But, says Mel Stiller, chief
executive officer of Consumer Credit Counseling Service of Southern
New England, "most people don't do it that way. They just
spend." Here are a few tips on how to make a realistic
budget and stick to it.
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FEBRUARY
2005
That's
All I Get?
You've
landed the job, put in the hours and now the first paycheck
has arrived. Brace yourself: It's almost never as much as you
expect. Before you start figuring out how you'll spend the money
you've earned, here's a guide to what comes out of your paycheck
and why.
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JANUARY
2005
Making
Money Grow
Setting
aside a little money every month or regularly putting holiday
or birthday checks into savings is tough enough. But savers
have faced an even greater challenge in recent years: How to
make that hard-earned money grow.
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DECEMBER
2004
Are
You Shop-Smart?
Retailers
know that teens today have enormous spending power. At the same
time, retail consultants say the current generation of teens
is the savviest group of young shoppers ever. But how savvy
are you? How well do you recognize these retail tactics?
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NOVEMBER
2004
Play
Your Cards Right
For all the scary statistics about
credit-card abuse, there are benefits to having a card when
you're young and learning how to make the best use of it. A
credit card gives you financial flexibility in a pinch and can
help you establish a record of paying your bills on time, which
will be important later when you want to buy a house or a car.
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The
Young and the Wireless
While cellular companies make most of their money
selling service, their real gravy is in the extras: charging
5 or 10 cents for each text message or $1 or $2 for each downloaded
ring tone. And in every category, teens typically make very
good customers.
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Got
Money?
Turning
a paycheck or a gift from your grandparents into pocket money
can take you through a money-management minefield. Nearly every
available option comes with fees or hidden costs that can quickly
lighten your wallet. But bank accounts are a necessary part
of life for most people, and it can be useful to get some practice
now before you have to start managing money on your own.
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