Be a "Money Mentor" to the Teen in Your Life!

Many Students Don’t Know How to Handle Money…
Only 34% of teenagers know how to balance a checkbook.
29% of teens are already in debt. The average teen debt is almost $300.
People under the age of 25 make up the fastest growing age group filing for bankruptcy.
… but They WANT to Learn About Personal Finance
89% of teens want to learn how to make their money grow.
65% believe learning about money is interesting.
88% want to learn how to pay their bills.
85% do not want to have to rely on others for money.
88% want to learn how to stay out of debt

These statistics are pulled from surveys by big banks for their own promotion but the bottom line is that the Millennial Generation, those born between 1981-1999, are the largest and least financially realistic generation ever.

Stepping into the role of a "Money Mentor" is not a formal commitment. It is simply the process of opening up the lines of communication with a teen in your life (son, daughter, niece, nephew, neighbor, etc...). Remember, their favorite form of communication is probably electronic, so be sure to reach them how they feel they most receptive.

Here are some websites to get you started and not one of them is sponsored by a bank!

http://hsfpp.nefe.org/students/index2.cfm?deptid=15

http://www.financefreak.com/

http://articles.moneycentral.msn.com/CollegeAndFamily/RaiseKids/WhyYourKidsExpectToBeRich.aspx

http://www.learningtogive.org/youthworkers/02activities.asp

MyMoney.gov Can Help You!

According to its website, MyMoney.gov can help you. Check out and see what you think:
MyMoney.gov is the U.S. government's website dedicated to teaching all Americans the basics about financial education. Whether you are planning to buy a home, balancing your checkbook, or investing in your 401k, the resources on MyMoney.gov can help you do it better. Throughout the site, you will find important information from 20 federal agencies government wide.

The Secret is Out!

Hi. My name is Karen. And I am a Food Bank Client.

I had a really hard time admitting that fact for quite a while. The very idea of having to accept help in the form of free food is embarrassing -- at first. I was very secretive about it. My husband knew, of course, because it was his recommendation and we had discussed it, agreeing that it was a great way for our family to stretch our grocery budget. But, even my kids didn't know for a while. They just noticed that the snack bin would "magically" refill with yummy treats on a bi-monthly basis and that we didn't always have exactly the same staples that they were used to.

I began to accept the blessing God was offering us through the food bank, It was one more way He was keeping our family afloat while my husband was unemployed. I also began to realize that in order to continue to strive to be the best steward possible, I had no choice but to be a wise food bank consumer. So, gradually I began to admit out loud that, yes, I got that delicious roast my family enjoyed from the food bank at the church down the street. And, yes, those Levi's are also from there. And the pumpkin that we carved at Halloween. All from my new favorite "store" -- one that doesn't except a penny in payment.

Friends that know I am "in" at the food bank often ask questions about what they are like, who goes there and what they should donate. So those are some of the questions I will try to answer with my next few posts.

What to Donate....

One of my girlfriends admitted feeling guilty that she always ends up donating the weird gourmet stuff that no one in her house will eat. I think that's the best stuff to donate! Can you imagine how boring it would be to just eat peanut butter and tuna fish meal after meal because everyone stuck to the recommended donation list? I have tried all sorts of new things - serving salad on an artichoke bottom, cooking with anchovies,and adding clams to my spaghetti sauce-- with my gourmet "finds".

I also love picking up things that I view as "luxury items", that I wouldn't attempt to get at the grocery store on our current budget. They may not seem too luxurious to you, but when money is scarce it's a real treat to find dark chocolate, bottled water, or bubble bath!

Each time I go to the food bank, I try to come home with at least one thing that will excite each of my children - it helps them, and me - to remember what a blessing it is to shop there as well as to alleviate some of the stigma. My daughter is thrilled to find anything with a princess or Curious George on it and my son gives a shy smile when he finds something Hot Wheels.

I never know what God will put on the shelf for me to find. Once I came out with a half empty card board box of taco seasoning, a can of shortening, spotted bananas, and a frozen apple pie. Huh... well, I couldn't exactly whip that into a gourmet meal, but I was still thankful for the blessing. I love sweetening my smoothies with brown bananas and who doesn't need to have a nice pie on hand for drop in guests?

Most food banks are having difficulty filling their shelves right now due to the overwhelming need. So I'd like to encourage you to clean out your cupboard or pick up some extra goodies at the store this week and donate to a food bank near you!