Financial Independence for Teens, 1st Ed.

Description

Basic consumer information and guidelines on teen financial literacy and transitioning to adulthood. Offers career-planning guidance and covers internships, apprenticeships, and college; saving and spending wisely; money-management tools and other financial information offered as additional resources.

Sujets

• Financial plan
• Young Adult Nonfiction
• Personal Finance

Informations

• Publié par: Infobase Publishing
• Date de parution: 01 janvier 2019
• Nombre de lectures: 0
• EAN13: 9780780815827
• Langue: English
• Poids de l'ouvrage: 1 Mo

Extrait

Teen Finance Series
Financial Independence Information For Teens, First Edition
Teen Finance Series
Financial Independence Information For Teens, First Edition
Tips for a Successful Financial Life
Including Facts about Financial Literacy, Teen Employment, Internships, Budgeting, Basic Banking, Tax Education, Managing Expenses, and Credit Scores

615 Griswold, Ste. 901
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.
 
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OMNIGRAPHICS
Angela L. Williams, Managing Editor
 
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Copyright © 2019 Omnigraphics
 
ISBN 978-0-7808-1581-0
E-ISBN 978-0-7808-1582-7
 
 

Library of Congress Cataloging-in-Publication Data
Title: Financial independence for teens.
Description: 1st edition. | Detroit, MI : Omnigraphics, [2019] | Series: Teen finance series | “Angela L Williams, Editorial Manager.” | Includes index.
Identifiers: LCCN 2018049167 (print) | LCCN 2018050656 (ebook) | ISBN 9780780815827 (ebook) | ISBN 9780780815810 (hardcover : alk. paper)
Subjects: LCSH: Teenagers--Finance, Personal. | Financial literacy.
Classification: LCC HG179 (ebook) | LCC HG179 .F4623 2019 (print) | DDC 332.02400835--dc23
LC record available at https://lccn.loc.gov/2018049167
 
 
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 One: Determining When a Teen Is Ready to Be Independent
Chapter 1—Financial Capability and Literacy
Chapter 2—Assessing Yourself and Your Future
Chapter 3—Planning for Independence
Chapter 4—Parent and Teen Guidance to Ensure Success
Chapter 5—Teen Embarkment on the Journey to Independence
Chapter 6—Minor Emancipation Laws
Chapter 7—Teens with Disabilities
Chapter 8—Barriers for Foster Care Teens
Part Two: Teen Employment
Chapter 9—Work and Age Restrictions Requirement for Employment
Chapter 10—Know the Rules
Chapter 11—Data on Teen Participation in the Workforce
Chapter 12—Exploring Your Career Path
Chapter 13—Internships: Previewing a Profession
Chapter 14—Job Opportunities
Chapter 15—Networking for Teens
Chapter 16—Creating a Résumé
Chapter 17—What Is a Cover Letter?
Chapter 18—Finding a Job
Chapter 19—Jobs for Disabled Teens
Chapter 20—Workplace Skills
Chapter 21—Workplace Ethics
Chapter 22—Workplace Stress
Chapter 23—Work–Life Balance
Chapter 24—Workplace Hazards
Chapter 25—Workers’ Rights and Safety
Chapter 26—Self-Employment
Part Three: Creating and Living within a Budget
Chapter 27—Budgeting
Chapter 28—Avoiding Common Mistakes with Money
Chapter 29—Basic Facts about Banks and Banking
Chapter 30—How to Save and Invest
Chapter 31—Essential Money Management
Chapter 32—Fine-Tuning Your Money Management
Chapter 33—Financial Empowerment
Chapter 34—Taxes and Tax Benefits for Education
Chapter 35—Working with Financial Professionals
Part Four: Living on Your Own
Chapter 36—Renting an Apartment or House
Chapter 37—Renter’s Guide: Ten Tips for Tenants
Chapter 38—Sharing Rooms and Related Agreements
Chapter 39—Landlord Requirements
Chapter 40—Landlord–Tenant Responsibilities
Chapter 41—Cosigning Requirements for Young Renters
Chapter 42—Managing Renters’ Insurance
Chapter 43—Transportation Needs
Chapter 44—Managing Expenses
Chapter 45—Electronic Banking
Chapter 46—Finding and Applying for a Scholarship
Chapter 47—Financial Aid for Studying Abroad
Part Five: Planning for the Future
Chapter 48—Future Financial Goals
Chapter 49—How to Become an Entrepreneur
Chapter 50—Deciding Your Career
Chapter 51—Protecting Your Credit Score
Chapter 52—Your Credit Score and Why It Matters
Chapter 53—How to Rebuild Your Credit Score
Chapter 54—How to Dispute Credit Report Errors
Chapter 55—Educational Goals and Responsibilities
Chapter 56—How to Have a Higher Earning Potential
Chapter 57—Day Trading
Chapter 58—Ways to Make Money Online
Chapter 59—Things You Can Do to Avoid Fraud
Part Six: If You Need More Information
Chapter 60—Online Money Management Tools
Chapter 61—Financial Independence Information for Disabled Teens
Chapter 62—Resources for Financial Independence
Index
Preface
About This Book
The U.S. Bureau of Labor Statistics (BLS) reports the number of youth working, from the age of 16–24 years have increased from 2 million to 20.9 million from April to July 2018. With the technology boom and information at finger tips, the way teens earn, shop, and live have drastically changed. A proven fact, teens want to have a certain degree of financial independence and a guaranteed way to be able to achieve that independence is a job. Work always gives financial security and help meet needs. However, the challenge here for any teen is to find the right job and choose a career path that would benefit them in future.
Financial Independence Information For Teens, First Edition provides insights on knowledge related to financial capability and literacy for teens. It gives the reader information on labor laws, teen workforce participation, age requirements, various kinds of employment available in the market, job search and résumé preparation, self-assessment, career planning, apprenticeship, internships, etc. It also explains the necessary management skills needed at a workplace, basic workers’ right, and work-life balance. Information on budgeting, saving, investing, money management, and taxes, and importance of working with professionals is also included. It discusses about housing options and legal formalities related to it, transportation, and opportunities to study abroad, financial aid for education, etc. The book concludes with a list of online money management tools and a directory of resources for financial 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 One: Determining When a Teen Is Ready to Be Independent begins with a brief insight on the emotional and physical factors determining whether a teen is ready to be financially independent, the barriers they face, and how parents can guide and ensure their success. It also provides information on minor emancipation laws, how teens with disabilities can experience financial independence, and the barriers faced by teens in foster care to achieve financial independence.
Part Two: Teen Employment deals with the process of getting employment. It begins with an overview of legal requirements for getting employed, laws pertaining to child labor, statistics of teens in the nation’s workforce, the types of employment available for teens, including internships, opportunities, and hazards related to the workplace. It also offers information on tools essential for job search such as networking, job search strategies, workplace ethics, workplace stress, balancing work and life, and concludes with rights and safety aspects for teen workers. Additionally, it deals with jobs for disabled teens and self-employment opportunities.
Part Three: Creating and Living within a Budget focuses on budgeting, saving, investments, financial knowledge, financial empowerment, and taxes and tax benefits for education. It also presents basic facts about banks and banking, managing money, and how to work with financial professionals.
Part Four: Living on Your Own focuses on housing options for teens who prefer to lead an independent life, besides legal issues related to renting, maintenance, and sharing responsibilities. It also discusses about sharing room, landlord requirements, landlord and tenant responsibilities, managing expenses, and details about finding and applying for a scholarship and financial aid for studying abroad.
Part Five: Planning for the Future dwells upon future financial and educational goals, career decisions, ways to protect and rebuilt credit score. Additionally, it deals with day trading, earning potential, options for earning online, and fraud prevention.
Part Six: Additional Information offers resources for financial independence.
Bibliographic Note
This volume contains documents and excerpts from publications issued by the following U.S. government agencies: Centers for Disease Control and Prevention (CDC); Consumer Financial Protection Bureau (CFPB); Federal Deposit Insurance Corporation (FDIC); Federal Trade Commission (FTC); Internal Revenue Service (IRS); National Institute for Occupational Safety and Health (NIOSH); National Resource Center for Youth Development (NRCYD); Occupational Safety and Health Administration (OSHA); Office of Housing and Community Development (OHCD); Office on Women’s Health (OWH); TreasuryDirect; USA.gov; U.S. Bureau of Labor Statistics (BLS); U.S. Department of Education (ED); U.S. Department of Homeland Security (DHS); U.S. Department of Labor (DOL); U.S. Department of the Treasury (USDT); U.S. General Services Administration (GSA); U.S. Small Business Administration (SBA); U.S. Social Security Administration (SSA); and Youth.gov.
It may also contain original material produced by Omnigraphics.
The photograph