A cool celebration of the wonders of water will be held this Sunday, August 19th from 10am – 4:30pm. Join in for the 2nd annual Water Day celebrating one of our most precious commodities: water! Cool off with creative games using water in inventive ways, enjoy water-themed workshops and art activities, and learn about related environmental issues from LA Zoo, LA River and more. All ages welcome. Included with museum admission. wwww.skirball.org or (877) 722-4849.
Helping Teens Financially Means More
Than Handing Them Money
5 Tips for Turning Adolescents into Fiscally Smart Adults
As children blossom into young men and women, most insist on planning and running their own lives. Parents worry about all the basic essentials for their kids’ independent living, like housing, eating properly, staying warm, being careful at night and more. But most parents forget to teach their youngsters one of the most important lessons of all – financial responsibility. The resulting turmoil can spell disaster for a child’s future.
Consider this: The average young adult amasses $45,000 in debt by the time they turn 29, according to a recent PNC Bank report.
“This generation of 20-somethings was raised during an economically-thriving period,” says financial expert Mark Hansen, author of Success 101 for Teens (www.success101forteens.com). “Undisciplined spending habits, student and car loans, and a tough job market have stymied their financial growth. Perhaps the worst culprit is financial ignorance, but we can count this as a lesson for future 20-somethings.”
For young people, organizing finances can be intimidating to the point of prohibitive, he says.
“We need to have a curriculum in schools, from kindergarten through 12th grade, that ensures our kids graduate with financially literacy,” he says. “From balancing a checkbook to understanding what it means to pay – and earn – interest, kids need basic money management skills to survive in the world, and most aren’t getting them.”
Hansen says all teens should know and practice so they can control their financial destinies:
• Saving for dreams – the three-envelope method: Use the first envelope for your day-to-day expenses: gas or lunch money. Pause before blowing this money at the movie theater or a fast-food restaurant! Envelope No. 2 is for short-term goals, which might be clothing or a new laptop. The third envelope is for long-term goals such as a car, college or a “future millionaire club” fund.
• How to create a budget: A budget lets us know what’s possible, and not possible, with money. There are six steps to creating a budget. 1. List all of your expenses. 2. List all income. 3. List monthly expenses. 4. Add up these lists separately. 5. Tweak your budget so you can meet your expenses with money left over for savings. 6. Review your budget every week.
• How to set and follow through on goals: First, figure out what your current finances are, then determine what they will be in the future — one year out, then two years out, then four years later, etc. How will you get to your one- or two-year goal? You need a plan, and most of the time that means either earning more money, spending less, or a combination of the two. Finally, you have to stick to your plan in order for it to work.
• Understanding interest rates, such as credit cards: Interest is a fee paid for using someone else’s money. Simple interest is straightforward: 5 percent accrued in your bank account with $100 yields $5 in interest at the end of the year. Compound interest, however, means ever-increasing amounts. This is crucial to understanding debt you may take on from lenders. Know what you are borrowing, and the terms thereof. Just as your money can work for you in a bank account, money borrowed can work against you if it is not paid back in a timely manner.
• How to write checks and balance a checkbook: These days, it’s easier than ever to review accounts online, which automatically tracks exchanges. HOWEVER, banks do make mistakes, which is why it’s wise to track your accounts independently. Ask. Don’t be embarrassed. Banks are putting a premium on service and want to establish a positive relationship with young customers. If you have a question, speak to someone at the bank. As you take control of your money, you’ll also take control of your life.
About Mark Hansen
A successful businessman, a former Palm Beach County, Fla., elected school board member and motivational speaker, Mark has dedicated his life to helping young people overcome obstacles and deal with the challenges of daily living. Struck by a car and nearly killed as a child, Mark fought back through positive actions and reactions to all that he had to overcome. As a result, he relates to teens in a very special way. Through books such as, “Success 101 for Teens: Dollars and Sense for a Winning Financial Life,” and seminars, Mark Hansen is driven to make an impact on teens and young adults and to empower them to rise above and triumph over life’s obstacles.
Few experiences help bond a family together more than spending a few days in the outdoors roughing it without the comforts of modern life and technology. But, when you cannot take the time to get away there is a new game from Outdoors Education that brings the feeling of the great outdoors into your living room called Camp. Read on and you could WIN the game for your family!
From the level one Tenderfoot to the level four Nature Enthusiast, Camp is an outdoors trivia game designed to challenge the knowledge of every member of the family. To play, each person chooses their piece and places it on a seat around the campfire. During their turn players draw a card and attempt to answer the trivia question that corresponds with their skill level. If the correct answer is given, the player rolls again. If not, the next player takes a turn as they race around the board to be the first to arrive back in camp.
The Camp game includes: 1 game board, 199 game cards (400 questions, and 99 fun facts), 1 decoder, 8 game characters, 1 die, 16 level cards, and 1 compass card. For more information on the game, including rules, visit www.educationoutdoors.net. Camp board game retails for $24.99 and can be purchased at Bass Pro Shops, Cabelas, Books a Million stores and specialty retailers nationwide including a local store to the south bay, Wild Birds Unlimited located in the Rolling Hills Plaza Shopping Center.
Camping is something our family did when my kids were younger! In fact, I vividly remember our rafting/camping trip down the Green River. Board games are a great way to bring the family together as well! CAMP is the perfect game for a family fun filled game night!
Want to win your very own CAMP game? Post a comment below on our blog or on our Facebook page about your very best family camping experience OR where your kids are going to summer camp! The winner will be announced in next week’s e-magazine!
About Education Outdoors
An avid outdoorsman, Tim Paczesny grew up at his family’s log cabin resort in Northern Michigan. As an adult with children of his own, Tim wanted to create a way to share his knowledge of the outdoors with his children and his “city” friends. He came up with the idea of creating games that would be able to teach families about the outdoors through trivia questions and fun facts. For more information, please visit www.educationoutdoors.net.