fall 2017

also in this issue ...

> Do's and Don'ts of Fundraising!

> Say what? Financial terms to learn

Stretch your money with smart spending decisions

Play it safe with sports

An average American teen has income of about $3,390 per year.* Whether you have more or less than that, you can make your money stretch further by practicing smart spending habits. That means thinking before you buy. Ask yourself some questions, such as:

• Do I need this item?

• If I don’t need it, why do I really want it?

• Am I sure I’ll use it?

• If I spend this money now, will I have enough left for other things I’ll need later?

• Could I find a similar item that costs less? Or the same item at a lower price somewhere else?

• Would anything bad happen if I waited and thought about it a little longer?

• Is it likely this item will go on sale soon?

COMPARE YOUR SPENDING PATTERNSDo you wonder how your spending habits stack up against those of other teens?

Food and clothing get more of teens’ dollars than other spending categories. On average, American teens devote almost a quarter of their spending to food and another 19 percent to clothing.**

For major purchases, be sure to make regular deposits to your savings account. That way, you can count on the money being there when you need it.

* Source: Statistic Brain.** Source: Piper Jaffray.

Do you enjoy playing sports, riding a bike or cruising on a skateboard? You may feel like you’re invincible, but there’s always a chance you’ll fall down or wipe out. Wearing a helmet and other gear can prevent serious injuries when you’re playing hard.

A concussion is a type of brain injury that can be dangerous for young athletes. It can happen when you collide with someone (or something), or if you fall and hit your head on the ground. If it’s a mild bump you may feel OK but it’s still important to stop playing and get checked out by an athletic trainer or doctor. And if it’s a serious head injury, you should get medical help right away.

Here are three things you can do to stay safe:

1. Choose a good-fitting helmet and protective gear for your sport.

2. Follow the rules of the game. Listening to coaches, following the rules and being courteous to others promotes fairness and safety.

3. Sit out when you’re injured. It can be tempting to try to return to play, but doing so puts you at risk for more serious injuries.

GEAR UP FOR SAFETYBe prepared with the proper protective gear for your sport every time you hit the field or court. Save up for your next sports season by adding to your savings account.

This publication does not constitute legal, accounting or other professional advice. Although it is intended to be accurate, neither the publisher nor any other party assumes liability for loss or damage due to reliance on this material. Websites not belonging to this organization are provided for information only. No endorsement is implied. Images may be from ©iStock and/or ©Fotolia. ©2017 Bluespire Marketing | bluespiremarketing.com.

Say what? FINANCIAL TERMS TO LEARN

FICA taxes: FICA stands for Federal Insurance Contributions Act. It’s money taken out of your paycheck for Social Security and Medicare. How much does it cost you? 7.65 percent of your earnings.

Federal personal income tax: Money from your pay that goes to the IRS for the federal government. The cost depends

on what tax bracket you’re in. People with low income pay a lower rate; those with high income pay a higher rate.

Direct deposit: Instead of getting a paper check, your pay goes straight to your checking or savings account. It happens automatically when you sign up for direct deposit.

Do’s and don’ts of fundraisingHave you ever raised money for your school, sports team or other group? Your group might sell coupon books, candy or other goods. Or, you might organize a car wash or walk-a-thon where your group asks for donations of money or pledges.

Whether you’re helping to plan a fundraiser or participating in one, it’s important to follow some basic rules. Here are some do’s and don’ts for a safe and successful fundraiser:

FUNDRAISING DO’S:

• Ask parents for permission. Before you agree to raise money or volunteer your time, check with a parent first.

• Practice what you’ll say. Be sure to introduce yourself and explain why you’re raising money and what you’re selling.

• Ask family and friends to donate. Make phone calls or send emails to family members and friends who may want to support your cause.

• Always say thank you. Make a point of saying thank you to everyone who helps with your fundraiser.

FUNDRAISING DON’TS:

• Don’t go door-to-door by yourself. It’s not safe to knock on doors by yourself. Team up with a group of friends and discuss your route with a parent.

• Don’t ask strangers. It’s best to stay close to home and ask neighbors and people you know.

• Don’t let parents do the work for you. It’s great to have help from a parent, but make sure you’re the one doing the work.

• Don’t wait until the last minute. Plan ahead and mark important dates so you’re not scrambling before a fundraising deadline or event.

Keep on saving so you can use your own money to support a good cause in the future.

3 bad spending habits to break now If you’re like many American teens, you could save more for what truly matters to you by trimming your spending in these areas:

Junk food. If you buy fast food, vending machine snacks and fancy coffee drinks every day, you’re eating through a wad of cash. Tip: Carry snacks from home.

Trendy clothes and shoes. Hot styles come and go in a flash and often cost a pretty penny. Tip: Find your own style and let it dictate your fashion choices.

The latest gadget/smartphone/app. Last year’s model is fully functional and costs far less than the latest and greatest. Tip: Wait until the price drops before buying.