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National Association of Black Accountants, Inc.

National Association of Black Accountants, Inc. M ney $ ense Managing Money for Youth. Sources of Income. Allowance Gifts Baby sitting Summer job Scholarships Other people’s money Starting a business. Realize Your Full Earning Potential.

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National Association of Black Accountants, Inc.

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  1. National Association of Black Accountants, Inc. M ney$ense Managing Money for Youth

  2. Sources of Income • Allowance • Gifts • Baby sitting • Summer job • Scholarships • Other people’s money • Starting a business

  3. Realize Your Full Earning Potential Am I satisfied with the amount of money I currently have or make?

  4. Higher Learning Higher Earnings Source: U.S. Census Bureau, Current Population Surveys, March 1998, 1999 and 2000. Tabulations reflect the average annual earnings of full-time, year-round workers 25 to 64 years old.

  5. College of Choice Strong GPA Scholarship Opportunities Employment Opportunities Desirable Starting Salary Career of Choice Traditional Way to Earn Money

  6. $$$ Who’s Really Making the Money? Your House AT&T’s House

  7. Who’s Really Making the Money? • Fixed monthly minute plan • Text message • Downloads • Ring tones • Images (screen savers) • Internet use AT&T’s House

  8. Ownership • Investor mentality • Stash your cash

  9. Cash Flow Equation (+) Revenue or Source of Income (-) Less: Expense or Use of Income _____________________________ (=) Net Cash Flow

  10. Where Does Money Go? • Cell phone • Movies • Video games • Food • Clothes (Hats, Shoes, Jeans) • Cosmetics (Hair & Nails) $$$ $ $ $ $

  11. How You Play the Money Game • Are you playing to get ahead? • Are you playing to come out even? • Are you going for broke?

  12. Set Savings Goals • End of each school year? • At beginning of senior year? • After college graduation? • Consistency • Open an institutional account

  13. Give Your Savings a Boost • Invest • Grow it faster • Seek assistance • Money coach/mentors • Help keep you on track

  14. Rule of 72 Exercise $100 Today. Goal = $200.00

  15. List of Resources ONLINE RESOURCES • www.MyMoney.gov • www.BankingonourFuture.org BOOK RESOURCES • Raising Money Smart Kids: What They Need to Know about Money and How to Tell Them (Kiplinger's Personal Finance) by Janet Bodnar • The Kids' Allowance Book by Amy Nathan and Debbie Palen

  16. Thank You! National Association of Black Accountants, Inc. M ney $ense For more information visit www.nabainc.org NABA - Money $ense

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