Savings and Investment Information for Teens, Fourth Edition

Description

Provides consumer finance information for teens about economic principles, wealth development, bank accounts, stocks, bonds, mutual funds, and other financial tools.

Sujets

• Financial plan
• Young Adult Nonfiction
• Personal Finance

Informations

• Publié par: Infobase Publishing
• Date de parution: 01 août 2022
• Nombre de lectures: 0
• EAN13: 9780780820371
• Langue: English
• Poids de l'ouvrage: 2 Mo

Extrait

Teen Finance Series
SAVINGS AND INVESTMENT INFORMATION FOR TEENS FOURTH EDITION
Teen Finance Series
SAVINGS AND INVESTMENT INFORMATION FOR TEENS FOURTH EDITION
Tips for a Successful Financial Life
Including Facts about Economic Principles, Money Management, Budgeting, Keys to Wealth Development, Bank Accounts, Investment Products, Financial Apps, and Security Concerns

An imprint of Infobase
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
An imprint of Infobase
132 W. 31st St.
New York, NY 10001
www.infobase.com
James Chambers, Editorial Director
* * *
Copyright © 2022 Infobase
ISBN 978-0-7808-2036-4
E-ISBN 978-0-7808-2037-1

Library of Congress Cataloging-in-Publication Data
Names: Chambers, James (Editor), editor.
Title: Savings and investment information for teens: tips for a successful financial life: including facts about economic principles, money management, budgeting, bank accounts, savings, investment products, financial apps, data security, and more/edited by James Chambers.
Description: Fourth edition. | New York, NY: Omnigraphics, an imprint of Infobase, [2022] | Series: Teen finance series | Includes bibliographical references and index. | Audience: Ages 13 | Audience: Grades 7-9 | Summary: “Provides information about financial planning, money management through savings and investments, including facts about financial technology, financial apps, and ways to protect personal data from identity fraud. Includes index and resource information”-- Provided by publisher.
Identifiers: LCCN 2022018849 (print) | LCCN 2022018850 (ebook) | ISBN 9780780820364 (library binding) | ISBN 9780780820371 (ebook)
Subjects: LCSH: Saving and investment. | Teenagers--Finance, Personal.
Classification: LCC HG4521.S337 2022 (print) | LCC HG4521 (ebook) | DDC 332.02400835--dc23/eng/20220510
LC record available at https://lccn.loc.gov/2022018849
LC ebook record available at https://lccn.loc.gov/2022018850
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 | Financial Fundamentals
Chapter 1—The History of Money
Chapter 2—The American Experience with Money
Chapter 3—The Federal Reserve System and How It Affects You
Chapter 4—Measuring the Economy: Gross Domestic Product and National Income and Product Accounts
Chapter 5—Consumer Price Index
Chapter 6—Tax Information for Students
Part 2 | Money Management
Chapter 7—Building Blocks of Financial Capability
Chapter 8—Financial Goals
Chapter 9—The Five Principles of Money
Chapter 10—Essential Money Management
Chapter 11—How Can Parents Help Teens Manage Money?
Chapter 12—Common Mistakes with Money
Chapter 13—Preparing a Budget
Chapter 14—Understanding Your Credit
Chapter 15—Using Credit Wisely
Chapter 16—Choosing and Managing a Credit Card
Part 3 | Keys to Wealth Development
Chapter 17—Roadmap to Saving and Investing
Chapter 18—Differences between Savings and Investing
Chapter 19—Importance of Savings
Chapter 20—Small Savings Add Up to Big Money
Chapter 21—Pros and Cons of Different Savings Options
Chapter 22—Banking Basics
Chapter 23—Choosing and Using the Right Bank Account
Chapter 24—Understanding Bank Services
Chapter 25—Understanding the Importance of Investment
Chapter 26—Things to Consider before You Make Investing Decisions
Chapter 27—Advice for Investing Wisely
Chapter 28—Defining Asset Allocation, Diversification, and Rebalancing
Chapter 29—Understanding Securities Analyst Recommendations
Chapter 30—Risk Tolerance
Chapter 31—A Beginner’s Guide to Financial Statements
Chapter 32—Working with Financial Professionals
Chapter 33—How to Avoid the Most Common Investment Scams
Chapter 34—Beware of Online Perils and Internet Fraud
Part 4 | Investment Products
Chapter 35—Types of Investment Companies
Chapter 36—Stocks
Chapter 37—Day Trading
Chapter 38—What Are Direct Investment Plans?
Chapter 39—What Is a Hedge Fund?
Chapter 40—Bonds
Chapter 41—Municipal and Corporate Bonds
Chapter 42—Mutual Funds and Exchange-Traded Funds
Chapter 43—Annuities
Chapter 44—Periodic Payment Plans
Chapter 45—Certificates of Deposit
Chapter 46—Commodities
Chapter 47—Real Estate Investment Trusts
Chapter 48—International Investing
Chapter 49—Cryptocurrency
Part 5 | Financial Technology and Security Concerns
Chapter 50—What Is Financial Technology?
Chapter 51—Mobile Apps for Financial Management
Chapter 52—Phishing
Chapter 53—Mobile Payments and Banking
Chapter 54—Identity Theft and Identity Fraud
Part 6 | If You Need More Information
Chapter 55—Directory of Savings and Investment Organizations
Index
PREFACE
About This Book
The financial services market offers today’s consumers a wide variety of products, services, and providers to choose from to meet their financial needs. While this degree of choice provides a great number of options, it also requires consumers to be equipped with the information, knowledge, and skills to evaluate their options. This is particularly important for young adults who are looking to make important financial decisions that will shape the rest of their lives. It is essential for teens to understand the financial fundamentals and the importance of savings and investment to attain their financial goals.
Savings and Investment Information for Teens, Fourth Edition provides updated information to help young adults learn how to develop the habit of saving money and investing for the future. It explains how the economy works and how factors such as interest rates and inflation impact personal wealth. It provides basic information about banking and explains how to choose the right bank account. It offers practical suggestions for developing a financial plan and describes the risks and rewards associated with various investment options such as stocks, bonds, mutual funds, and so on. Information about financial technology is provided along with the ways to stay away from identity frauds. 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: Financial Fundamentals describes the basic principles that govern the functioning of the U.S. and global economies. It provides historical information about the use of money and explains the Federal Reserve system, the process of measuring gross domestic product and National Income and Product Accounts, and the economic factors of the Consumer Price Index.
Part 2: Money Management explains the five principles of money. It highlights the essentiality of money management and briefs how parents can help teens manage money. It provides information about financial goals and preparing a budget. It elaborates on the common mistakes made with money management and talks about the importance of choosing and managing a credit card.
Part 3: Keys to Wealth Development provides details on the differences between savings and investment along with a roadmap to savings and investment. It talks about the importance of saving money and explains how small savings add up to big money. This part also describes the basics of banking and choosing the right bank account. It helps in understanding a bank statement and the importance of investment and explains how to invest wisely by defining asset allocation, diversification, and rebalancing. Details on investment risks and ways to avoid common investment scams are also provided.
Part 4: Investment Products talks about various investment options such as bonds, stocks, day trading, investment plans, mutual funds, exchange-traded funds, and commodities. It outlines annuities and international investing, including cryptocurrency.
Part 5: Financial Technology and Security Concerns explores the apps that help in financial budgeting, investment, and tracking of funds, along with information about data security.
Part 6: If You Need More Information includes a directory of resources for additional information on savings and investment.
Bibliographic Note
This volume contains documents and excerpts from publications issued by the following U.S. government agencies: Board of Governors of the Federal Reserve System; Commodity Futures Trading Commission (CFTC); Consumer Financial Protection Bureau (CFPB); Cybersecurity & Infrastructure Security Agency (CISA); Federal Deposit Insurance Corporation (FDIC); Federal Student Aid; Federal Trade Commission (FTC); HelpWithMyBank.gov ; Internal Revenue Service (IRS); Investor.gov ; MyCreditUnion.gov ; MyMoney.gov ; U.S. Bureau of Economic Analysis (BEA); U.S. Bureau of Labor Statistics (BLS); U.S. Department of Justice (DOJ); and U.S. Securities and Exchange Commission (SEC).
It also contains original material produced by Infobase.
The photograph on the front cover is © LightField Studios/Shutterstock.
Part 1 | Financial Fundamentals

Chapter 1
The History of Money
About This Chapter: “The History of Money,” ©