Financial Literacy Information for Teens, 1st Ed. , livre ebook

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Provides tips for financial success including facts about earning money, creating budget, savings and investments, banking, credit unions, credit cards, debt and financial technology along with a list of apps available for various financial processes and resources for additional information.

Sujets

Young Adult Nonfiction

Financial plan

Economics

Business

Informations

Publié par	Infobase Publishing
Date de parution	01 août 2021
Nombre de lectures	0
EAN13	9780780819672
Langue	English
Poids de l'ouvrage	2 Mo

Informations légales : prix de location à la page 0,2662€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

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Teen Finance Series
FINANCIAL LITERACY INFORMATION FOR TEENS FIRST EDITION
Teen Finance Series
FINANCIAL LITERACY INFORMATION FOR TEENS FIRST EDITION
Tips for a Successful Financial Life
Including Facts about Earning Money, Budgeting, Savings and Investments, Banking, Credit Unions, Credit Cards, Debt, and Latest Trends in Financial Technology

615 Griswold St., Ste. 520, Detroit, MI 48226
Bibliographic Note
Because this page cannot legibly accommodate all the copyright notices, the Bibliographic Note portion of the Preface constitutes an extension of the copyright notice.
* * *
OMNIGRAPHICS
Kevin Hayes, Managing Editor
* * *
Copyright © 2021 Omnigraphics
ISBN 978-0-7808-1966-5
E-ISBN 978-0-7808-1967-2

Library of Congress Cataloging-in-Publication Data
Names: Hayes, Kevin (Writer on finance) editor.
Title: Financial literacy information for teens / edited by Kevin Hayes.
Description: First Edition. | Detroit, MI: Omnigraphics, Inc., 2021. | Series: Teen finance series | Includes index. | Audience: Ages 13 | Audience: Grades 7-9 | Summary: “Provides tips for financial success including facts about earning money, creating budget, savings and investments, banking, credit unions, credit cards, debt and financial technology along with a list of apps available for various financial processes and resources for additional information”-- Provided by publisher.
Identifiers: LCCN 2021032516 (print) | LCCN 2021032517 (ebook) | ISBN 9780780819665 (library binding) | ISBN 9780780819672 (ebook)
Subjects: LCSH: Finance, Personal--Juvenile literature. | Financial literacy.
Classification: LCC HG173.8 .F56 2021 (print) | LCC HG173.8 (ebook) | DDC 332.024--dc23
LC record available at https://lccn.loc.gov/2021032516
LC ebook record available at https://lccn.loc.gov/2021032517
Electronic or mechanical reproduction, including photography, recording, or any other information storage and retrieval system for the purpose of resale is strictly prohibited without permission in writing from the publisher.
The information in this publication was compiled from the sources cited and from other sources considered reliable. While every possible effort has been made to ensure reliability, the publisher will not assume liability for damages caused by inaccuracies in the data, and makes no warranty, express or implied, on the accuracy of the information contained herein.

This book is printed on acid-free paper meeting the ANSI Z39.48 Standard. The infinity symbol that appears above indicates that the paper in this book meets that standard.
Printed in the United States
TABLE OF CONTENTS
Preface
Part 1 | Earning Money and Creating a Budget
Chapter 1—The Five Principles of Managing and Growing Money
Chapter 2—Building Blocks of Financial Capability
Chapter 3—Financial Goals
Chapter 4—Career Exploration and Skill Development
Chapter 5—Working during College
Chapter 6—Summer Employment: A Snapshot of Teen Workers
Chapter 7—Understanding Paycheck and Pay Statement
Chapter 8—Being Your Own Boss
Chapter 9—Preparing a Budget
Chapter 10—Paying Bills
Chapter 11—Saving Money When You Shop
Part 2 | Saving and Investing Strategies
Chapter 12—Roadmap to Saving and Investing
Chapter 13—Managing Daily Expenses and Saving for Your Goals
Chapter 14—Why Savings Matters
Chapter 15—Banking Basics
Chapter 16—Setting Up a Savings Account
Chapter 17—Basics of Investing
Chapter 18—Understanding Stock Markets
Chapter 19—Risks of Investment
Part 3 | Financial Fundamentals
Chapter 20—What You Need to Know about an Invoice
Chapter 21—Understanding a Bank Statement
Chapter 22—What You Should Know about Checking Accounts
Chapter 23—How to Balance a Checking Account
Chapter 24—Credit Union
Chapter 25—Electronic Fund Transfer
Chapter 26—Mobile Payments and Mobile Wallets
Part 4 | Credit Cards and Credit Scores
Chapter 27—Credit History
Chapter 28—Using Credit Wisely
Chapter 29—Credit Repair
Chapter 30—Choosing and Managing a Credit Card
Chapter 31—Credit Card Interest Rate
Chapter 32—Understanding Credit Card Statement
Chapter 33—Problems Resulting from Minimum Payments with High-Interest Rates
Part 5 | Staying Out of Debt
Chapter 34—Loan Options for People under 18
Chapter 35—Understanding Compound Interest
Chapter 36—Problems Associated with Debt
Chapter 37—Seeking Credit Counseling
Chapter 38—Dealing with Debt
Part 6 | Financial Apps and Data Security Concerns
Chapter 39—What Is Financial Technology?
Chapter 40—Financial Advisors and Apps
Chapter 41—Budgeting Apps
Chapter 42—Checkbook Ledger Apps
Chapter 43—Apps to Pay Bills
Chapter 44—Investment and Money Tracking Apps
Chapter 45—Identity Theft and Identity Fraud
Chapter 46—Data Security
Part 7 | If You Need More Help or Information
Chapter 47—Resources for Financial Information
Chapter 48—Mobile Apps for Financial Management
Index
PREFACE
About This Book
Today’s teens are spending their own money, and they are spending a lot of it. But, the challenges that come with managing and spending that money have never been more daunting. Faced with greater personal responsibility for managing their own money, and changing technology that has created both opportunity and risk, today’s teens face economic challenges unlike any previous generation. Unfortunately, many teens are lacking the basic financial literacy needed to meet those challenges. As a result, the majority of today’s teens remain unaware of basic financial principles, such as earning, budgeting, saving, establishing credit, and managing debt. In addition, many teens are unaware of the risks that come with the technology that while making their lives easier, also makes their personal and financial information more vulnerable than ever before.
Financial Literacy Information for Teens, First Edition outlines the principles of earning, spending, and managing money. It provides information about financial goals and budgeting. It highlights the importance of saving and investing money and also talks about the risks involved in investing. The basics of banking are discussed along with the details about savings and checking accounts. The benefits and risks of electronic banking, online fund transfer, mobile wallets are also discussed. It discusses the importance of credit history and explains how to choose and manage a credit card. It talks about the various loan options available for people under 18 years of age and also the problems associated with debt. It provides information about the latest trends in financial technology and lists several tools and apps available for various financial processes. The book concludes with a directory of resources for additional information.
How to Use This Book
This book is divided into parts and chapters. Parts focus on broad areas of interest; chapters are devoted to single topics within a part.
Part 1: Earning Money and Creating a Budget begins by outlining the principles of managing money and explains how to set financial goals. It continues with information about career planning and common ways teens can acquire money. Information about budgeting and smart spending is also included.
Part 2: Saving and Investing Strategies provides a roadmap to saving and investing. It describes banking basics, and offers information on how to set up a savings account. It also offers suggestions on how to invest and grow your money. A chapter on the risks involved in investing is also provided.
Part 3: Financial Fundamentals explains how to read an invoice and a bank statement. Details about checking accounts and how to manage a checking account are provided. The benefits and risks of electronic banking, online fund transfer, and mobile wallets are also discussed.
Part 4: Credit Cards and Credit Scores explains how credit works and the importance of building a good credit history. It provides information on choosing and managing a credit card. Problems resulting from making minimum payments with high-interest rates are discussed.
Part 5: Staying Out of Debt talks about the various loan options available for people under 18 years of age. The problems associated with debt are highlighted along with the information on how to deal with debt.
Part 6: Financial Apps and Data Security Concerns talks about the latest technologies that aim at enhancing financial services. The tools and apps available for various financial processes such as budgeting, paying bills, tracking money, etc. are discussed. It also provides information on protecting financial information.
Part 7: If You Need More Help or Information includes a directory of resources for additional information about personal finance.
Bibliographic Note
This volume contains documents and excerpts from publications issued by the following U.S. government agencies: AmeriCorps; Consumer Financial Protection Bureau (CFPB); Federal Communications Commission (FCC); Federal Deposit Insurance Corporation (FDIC); Federal Student Aid; Federal Trade Commission (FTC); Inverstor.gov; MyCreditUnion.gov; MyMoney.gov; Small Business Administration (SBA); U.S. Bureau of Labor Statistics (BLS); U.S. Department of Labor (DOL); U.S. Securities and Exchange Commission (SEC); and Youth.gov.
It also contains original material produced by Omnigraphics.
The photograph on the front cover is © Fizkes/Shutterstock.
Part 1 | Earning Money and Creating a Budget

Chapter 1
The Five Principles of Managing and Growing Money
About This Chapter: This chapter includes text excerpted from “My Money Five,” MyMoney.gov, Financial Literacy and Education Commission (FLEC), May 31, 2013.
My Money Five
Making the most of your money starts with five building blocks for managing and growing your money – The MyMoney Five. Keep these five principles in mind as you make day-to-day decisions and plan your financial goals.
Earn
The Earn principle is about more than the amount yo