What better time to start implementing new healthy work habits than the beginning of the school year?
After a long Labor Day weekend, students may have lost some of the motivation they gained over the first weeks of school. Pick up the momentum by doing an activity with your class that gets them thinking about the habits they need to exercise to succeed during this semester.
(February 23, 2011Â – Photo by Al Bello/Getty Images North America)
Want to experience a roller-coaster ride of salaries? Try life in professional baseball. Make the big leagues and you can reap millions. Languish in the minors and harsh financial realities weigh on you daily.
Going back to school means getting back in the rhythm of the school day, after school activities, and work. When many of us go through drastic changes, whether it’s moving across town, finding a new job, or starting a new grade, we are tempted to take shortcuts to balance out the overwhelming feeling of change. Eating out, buying new odds-and-ends, and driving instead of using public transportation are all conveniences that money can buy — whether it’s in our budgets or not.
The other day a college student who works for LifeBound was talking about taking out a payday loan. His school put a hold on his account until he could pay his bill and he felt he had a limited amount of choices to get money quick. We cringed and pointed to Chapter 6 in Dollars & Sense: How to Be Smart About Money, Avoiding Financial Pitfalls where we cover loan options. The annual percentage rate is usually around 390% on a payday loan. It’s fast money that’s meant to be paid back at equal speed; otherwise, you’re signing up for debt. The following table is from Dollars & Sense and shows the cost of borrowing $300 over a 30 day period (click on the image to enlarge).
According to a study by HSBC Bank USA, two out of three consumers wanted to reduce “indulgent” spending. Four out of five of those surveyed wished to save more money. That’s healthy financial thinking, but how do these desires become habits? The equation is simple: in order to save more, you need more money. You can work more hours or find a higher paying job. Easier said than done. You can also adjust your spending habits. Those surveyed could fulfill both their desires by reducing the amount they spend on non-essential items and entertainment and putting that money into a savings account or other investment options.
As LifeBound’s new website launches, the Carol J. Carter blog is undergoing some changes too. We have extended the blog to include material for three of LifeBound’s biggest audiences: educators, parents, and students. Every week the three blogs will cover one common theme and write from three different perspectives. The educator’s blog will offer classroom activities and tips for the classroom. The parent’s blog will feature blogs by parents for parents. The student’s blog will be written by high school and college students for students. I will be a guest blogger on the parent and student blogs from time to time, as well. We hope you will enjoy reading our blogs from multiple perspectives and look forward to your feedback on our new approach.
Read the rest of this entry »
More and more school districts are bringing financial literacy into the classroom to teach a new generation how to be financially successful and stable adults. However, many students graduated from high school without an education in finances before the implementation of financial literacy courses and many still aren’t getting it today.
FACT: By 2014, 81 percent of post-secondary students will take some or all of their classes online.
Technology is changing the way we work, communicate, travel, buy, consume, read, gain knowledge, and how we educate our children. It’s imperative students learn technological and online skills in school and at home. Did you know sixty-five percent of grade school kids will end up in jobs that don’t even exist yet?
Is your child ready for college?
He scored at the top of his class in high school. She was involved in all the extracurricular activities. He started applying to colleges early. She never missed a day of class. They sound like they’re academically prepared, but do they know how they’re going to pay the bills, rent, loans, and still have some money left over for fun? How are they going to pay back the loans they signed off on once they graduate? Do they understand the price of their investment?
How do you start preparing grade school students for work that hasn’t been invented yet? According to Cathy Davidson, the author of Now You See It: How the Brain Science of Attention Will Transform the Way We Live, Work, and Learn, as much as 65 percent of youth will end up in these jobs which is one reason why educators and parents need to stop fearing technology and learn how to teach it.
In the Mind/Shift article “How Do We Prepare Our Children for What’s Next?” Tina Barseghian writes, Davidson believes this is the time to start adjusting to the digital age, especially since we’re only becoming more dependent on our biggest technological tool, the Internet. “It’s time to survey our lives and figure out what works, what doesn’t, and how we can make real and practical improvements in our schools, our workplace, our every day lives,” says Davidson. And to do so, she suggest the following for parents: