6 THINGS EVERY TEEN SHOULD KNOW ABOUT MONEY

So your teen might have passed their driver’s test with flying colors and aced their latest history test, but what about money matters? While you might get an eye roll from your teen when it comes to teaching them about, say, the importance of saving their money, it’s essential that they have a solid understanding of core financial concepts that will set the stage for their success as adults. Here are six things about money that every teen should know, and a few savvy ways you can help give your teens a financial education:

1. How to create a budget.

As we all know, budgeting is an essential part of managing our finances. One way you can teach your teen how to track their expenses and cash flow is by a system of envelopes, suggests Paul Vasey, founder of CashCrunch Games.

“Teens need to realize that they can only spend a dollar once,” explains Vasey. “They have infinite wants and finite resources, and therefore need to make choices. Once their money has been spent, it cannot be spent again. By getting them to realize that they have choices, and also, if they do not buy the product that day, their lives will probably not come crashing down around them.”

You can work with your teen on saving for a family summer trip. How much will they save for shopping and eats during the trip? How will they allocate their spending?

2. How to save for a rainy day. 

Instead of treating you as the bank, have a chat with them on how they can save for unforeseen expenses, or maybe just for things they’ll need to save up for. Bill Dwight, founder of FamZoo.com, requires that his kids set aside a few hundred dollars in a separate account. “That way, they can cover that first parking ticket, stolen bike, or broken iPhone without relying on a bailout from mom and dad,” Dwight explains.

If you’re a member of a local credit union, can contact your local branch to look into opening a savings account for your teen. It’s a great way to introduce them to the world of tracking their spending and managing their money.

3. The differences between credit and debit cards. 

Knowing the major differences between how credit and debit cards and how to go about applying for one. This can also introduce them to how interest works, and what happens if they don’t pay a credit card on time.

You can show them how to track their spending on their phone, and how to set limits and alerts on their credit card spending through apps such as CardNav(sm) by CO-OP.

4. How student loans work.

Even if you opened a college fund for your child, with the soaring costs of higher education, there’s a good chance that your teen will need to sniff out funding on their own. Talk with them on expectations on who will be paying for what, and what they’ll be responsible for.

Teaching them about how student loans work, the different options and plans for repayment, and their responsibility on paying it back will also help them be prepared for when they are full-fledged adults and have to make major purchases that require good credit.

If you currently have student debt, you could talk to them about your personal experience with paying off your loans. Opening the doors to communication could help them not only have a firmer grasp on student debt, but also your teen will know they can come to you with any questions.

5. How to earn a buck.

Get them started on earning their own money by getting a summer or afterschool gig. It’s a great opportunity to teach them how to read a pay stub, so they understand how income taxes are deducted.

If your teen has a passion for something, such as crafty wares, programming, or woodworking, you can work with them on potentially starting their own business. Being a young entrepreneur will teach them valuable skills that will help them down the road.

6. How investing works.

While you might not necessarily get into specifics and do a deep dive on investing, understanding how the economy and stock market works and learning basic terms such as “bull” and “bear market” will help your teen be more educated when it comes time for them to invest.

If you can afford to do so, one thing you can do to give your teen a jump-start on investing is to play what Dwight of FamZoo calls the “Family 401(k),” where after your teen gets their first summer job, you can work with them on opening a Roth IRA. You can sweeten the pot by offering to match their contributions. One thing you can also do is invest the money in a low-cost, diversified index fund. “This practice rewards hard work while teaching your teens the power of matching opportunities, compounding, index funds, long term investing, dollar cost averaging [if you do it each year], and tax­-advantaged savings,” explains Dwight.

By taking the time now to teach your teens fundamentals about money, they’ll have the financial smarts to succeed as adults

Read More

WHAT DO YOU WANT TO BECOME? THINK IT AND ACT IT!

 Today I want us to dwell on the power of thinking and its' connection to becoming. This is a key aspect of personality building, simple also but most difficult to understand. The reason being that thought at times comes involuntarily and tends to be very difficult to control. This therefore formed yet another important sub to the topic of discussion -- how best to control your thought. 

The issue of mind control is as much as self control. Hence anyone who can control him/her mind would sure have no problem controlling his/herself, thinking and actions. It is the mind that initiate it all, the thinking, then the thought triggers the body to action. Thus, whatever that man does starts right from the mind. Think of the platform you are reading this at the moment, think of the school you attended, think of the house you are leaving in, think of the bank, the cloths, all once an idea resided in someone's mind before it came to manifestation.

Nothing made by human that has not once existed in the mind before it came to be. This shows a strong connection between Mind, Thought, actions and Manifestation. The body is in perpetual communication with the mind and mostly works on it's instructions.

If you are a student of computer, you will understand the body as a computer hardware, the mind as the software, the thought as a program bits and the brain as the processor.  You will also understand the process of thinking as a software programing, the way the computer works depends on the programme written in the software, if the right codes are written into the software, the computer does the right thing, but if the wrong code is written into the software, the computer either misbehave or crashes. 

Same is applicable to human beings, when the positive thoughts are constantly fed to the mind the person has no other option that to become positive, while in other case the negative thoughts are constantly fed to the mind the person definitely turns out to become negative.

What this mean therefore, is that the mind is the power of manifestation. whatever that is placed in the mind, unless removed and replaced, must come to manifest. why did I said replaced? Because the mind is such a retentive entity that whatever that it holds, lingers even when it is removed unless it is replaced entirely. This is sure an important way to control your mind.

In other to be in absolute control of your mind, you must first of all learn to remove and replace unwanted thoughts from your mind. It is very important you decide what you want your person to manifest, examine your mind and get rid of any contradicting thought, then replace with the positive thought about your  desired person, as soon as this is achieved, you will see your self becoming that which you desired to become. At times negative thoughts do not just left as easy as that, but with constant countering with the positive thinking, you wont even know when it get lost.


The next is act. It is very important when you think you act. Thus, Norman Vincent Peal puts it, "if you want a quality, act as if you already have it, if you want to be courageous, act as if you were - and as you act and persevere in acting, so you tend to become". Aristotle rather put it this way, "Men acquire a particular quality by constantly acting a particular way. You become just by performing just actions, temperate by performing temperate actions, brave by performing brave actions". Therefore you become what you think and act.

By
 Chukwuka Basil Uche

...To be continued.
 

 

Read More

7 TIPS ON HOW TO BECOME A BETTER STUDENT

Being a student, especially in the later years of Secondary school and the higher institution years, can be a time when you are finally given the independence that you craved. 

At the same you haven’t learned exactly how to manage your life between the educational and personal developments that seems to occur at an increasing rate.

 Getting your plans and time sorted out is vital to your success in these educational years, so if you are looking for some guidance on how best to arrange yourself, then here are seven of the best self-management tips all students should know.

1. Sleep

First and foremost, you need to be getting a good night’s sleep as often as you can. After all, your brain needs just as much rest as any other organ to operate at its full capacity, and if it is running on empty it is not going to serve you in the best way that it can.

2. Eat

A healthy diet is also essential during these stressful times at school. The more good fuel your body has, the more inspired and motivated you are going to be to get your work done and perform at a good energy level. Lots of fruit and vegetables will keep you feeling good and strong.

3. No Skipping

Experts at Assignment Masters cannot stress enough just how important it is that you do not skip any of your classes. There will always be vital information given out in every class that could be the key to unlocking the idea for your final project; you should always be ready and present.

4. Calendar

Buy a calendar and make notes of every single deadline and class that you have. This way you will always be on top of the places you have to be and what times you have to be there. One of the worst things that could happen is for you to complete an assignment but hand it in a day too late.

5. Technology Balance

Make the effort to balance out your use of certain technology and social media platforms. They are the number one culprit for procrastination amongst today’s student body, and training yourself to stay away when you are writing your assignments can be really beneficial.

6. Study Groups

If you are the kind of student who finds it nearly impossible to be productive alone, then make the most of all the different study groups that your school or college offers. There you will be able to work alongside people who are motivated and their motivation will spur you into action and make you much more productive.

7. Don’t Over Commit

The mixture of personal and professional life at college can sometimes be overwhelming. Balancing these two aspects can be tough, but it is important to try not to over commit to activities on either side. Always leave time at the end of a day to review your studies so you can go in to the next day’s classes ready and prepared.

Read More

MEANINGLESS GOALS: DIFFERENTIATING A FOOL AND A WISE ONE.

A farmer had a dog that used to sit by the roadside waiting for vehicles to come around.

As soon as one came he would run down the road, barking and trying to overtake it.

One day a neighbor asked the farmer "Do you think your dog is ever going to catch a car?" The farmer replied, "That is not what bothers me. What bothers me is what he would do if he ever caught one."


Are you living your life like that dog who continually pursue what it has no knowledge of what to do with when he succeeded in catching it ? or do you look before you leap?


What are you pursuing in life? What is your sole aim for going after it?  If you do not think of any useful aim why bother  yourself pursuing it at all? Why waste your time pursuing that which you know is of no use to you? Why waste your precious time in futility? 


These are very important questions the wise ones ask that the fools never bother to ask before pursuing any undertaking in life. It is the instinct of a man to acquire but it is the skill of the wise ones to seek after the required. The wise ones draw to themselves only what they actually required, while the fools always seek to acquire whatever their senses can perceive whether needful or not. The following are other differentiating traits between a fool and a wise one :

THE FOOL

Just like the dog mentioned above, the fools pursues whatever that come their way with no reasonable aim of what value it contribute to their life, nor any knowledge if it is of any use at all. 

A fool delves into every venture without the prior knowledge of  its' value, required skills, risk involve, benefits and disbenefits.

He is moved by his innate sensitiveness, not sensibleness thus he always respond to his instinct of vicariousness and continues to acquire what are not necessarily required.

He does not let go of trivialities and can waste his entire life fighting for just no course, whenever he felt his 'right' is tampered with, without considering if such a right is worth the fight at all. 

He battles to maintain unnecessary protocol even when such contribute no values to life. 

He makes if needless issue and unnecessarily expect others to respect him while he do not care to respect himself.  

He is a glutton who would always want to eat, even though not hungry, whenever he sights or perceive an aroma of anything seeming to him to be food. 

Unfortunately, his life always ends up in a big irony -- he pursue all and achieve non.


THE WISE ONE

Conversely, the wise one always looks before he leaps. 

He always let go of frivolities and goes after substance and its' essence.  

He is very calculative of whatever his undertaken have to offer at the end. 

He assesses whatever he pursues, where, when and how to go about it, and always arms himself with needful knowledge of it all, the expected risk, and the outcome before undertaking any venture. 

He is a genus who only strike at the essence and let go of the trivial. 

He do not engage in a fight that will never end up resulting in needful value. 

When his right is involved, he always weighs the right, the fight and mark, then make the best judgement to engage in the fight if the right is worth the mark or to let go of the right if the fight is not worth the mark. 

He controls his selfish instinct and always goes only for the needful. 

He always respects himself and do not unnecessary expect others to respect him. 

He is not a glutton,  but only eats when it is needful to eat. 

He is a man who does everything with reason and such a man after his life continues to impact the lives of men.


Now that you've know, which do you choose to become, the wise or the fool?


Choose to become a fool? 
Continue to chase shadow while you left behind the substance.
Wine and dine in futility then die shamefully in absurdity. 
Seek to acquire all and then end up achieving non.


Choose to become a Wise?
Then learn to let go of frivolities and chase after the substance and essence. 
Fight your innate inordinate desires, selfishness and gluttony. 
Seek after what you required not what to acquire.  
Learn to let go of right which is of not reasonable value.
Before you fight have a clear view of the need, the end and your gain, if there is any reasonable need,  then arm yourself and embark on the fight, if there is no need at all, hold on, sheet your sword and call for a dialog. 

NOTE: 

''If you want be wise, you should learn to respect yourself for the wise ones respect themselves while the fools expect other to respect them''

''Always have a reason for whatever you do for acting out of reason is what make people unreasonable''

By 
chukwuka Basil Uche

Read More

LIFE IS A GIFT: APPRECIATE WHAT YOU HAVE TO OBTAIN WHAT YOU DO NOT HAVE

If you are alive, you are better off.
Do not wish to be like others but be yourself and always try to be  your better self. Know that wherever you are, there are always some people who crave to be there. whoever you crave to become also crave to become someone else -- such is life! Whatever life gives to you  is all for your own good. Accept it and life a happy life but deny it and face a great woe. 


Do not be ungrateful with what life offers you but with much enthusiasm and thankful heart, work with what you have. It is only when you appreciate what you have that you obtain what you do not have.  

The following line from an unknown author is a great inspiration that will help to drive home the point:

Before you think of saying an unkind word – think of someone who can’t speak.

Before you complain about the taste of your food – think of someone who has nothing to eat.

Before you complain about your husband or wife – think of someone who is crying out to God for a companion.

Today before you complain about life – think of someone who went too early to heaven.

Before you complain about your children – think of someone who desires children but they’re barren.

Before you argue about your dirty house, someone didn’t clean or sweep – think of the people who are living in the streets.

Before whining about the distance you drive – think of someone who walks the same distance with their feet.

And when you are tired and complain about your job – think of the unemployed, the disabled and those who wished they had your job.

But before you think of pointing the finger or condemning another – remember that not one of us are without sin and we all answer to one maker.

And when depressing thoughts seem to get you down – put a smile on your face and thank God you’re alive and still around.

Life is a gift – Accept it, Live it, Enjoy it, Celebrate it, and Fulfill it.

Read More

IS LIFE UNFAIR TO YOU? JUST DIG!

What is it that bothers you in life? 

Which problem is it that had left you in a great dilemma? 

Have you lost hope and concluded that that life is very unfair to you?

You have gotten it all wrong, life is no unfair to you neither do God hate you.

But that which you see as natures unfairness to you is a hard nut inside which lies a great fortune for your greatness. 

This a an irrefutable fact of life and only few have come to realize it, such are the true great men there are in the world. 

SILVER SPOON ANALOGY

True great men are not those born with silver spoon in their mouth but are those who realized they had only the wooden spoon, try hard to use the wooden spoon to dig deep into life in order to explore the untapped gold mine and used it to fashion out for themselves an enviable golden spoon which life can not just give to anyone.

 It is only those born with wooden spoon that have the natural endowment  to dig deep into the nature's untapped gold mine, those who are born with silver spoon always felt that life is fairer to them so they are better of and as such need no struggle in life. they are not naturally endowed to discover, they are born consumers of this world. This is no surprise because no one will like to dent his sparkling silver in the filthy of the earth, but if you had a wood and know that the silver you envy is in the earth, you would not mind but use your wood to dig. It is then when you dig you realize that the life has a better in store for you, the gold, which can not just be giving out without the dig.

When a life had presented you with a wood, don not wait but dig, it is only the strongest of this world that wood are giving with the sole aim to dig out for the hidden treasures of the world. Those are the people who dig out for solutions to problem of the world  and making the world a better place. 

 Do not envy the man born with a silver spoon, he will definitely end up dinning in a silver plate unless he is wise enough to use it for a wood and dig like the one who has gotten a wooden one in order to acquire the golden plate which is only hidden beneath the filthy earth of this world.  

No problem is a disadvantage for the wise. it is only a fool that lays blames for each problem he encounters, he blame God, blame himself, blame the devil, the witches and wizards, in fact everyone including the generation yet unborn. The wise only engages his brain when challenged with a problem, come up with solutions and spread it for his own joy and the betterment of the society at large. 

Whatever life had offered you is for a purpose geared towards your greatness, the only task you have to make it real is dig, the deeper you dig the closer you become to your greatness. Never you complain or lay blames when life had given you a wood, just dig! 

Read More