According to an April 2017 survey in Business Insider, teens are spending most of their money on food. Over the last several years, teens have been spending a greater share of their money on food, and less on clothing.Food now accounts for 24% of teen spending, followed by clothing (19%), cars (9%), accessories and cosmetics (9%), shoes (8%), video games (8%), and electronics (7%), according to the survey. The rest is spent on music, movie, and events.
Teens’ favorite website is Amazon, with 43% share of the market, compared to the No. 2 website, Nike, with 5% of the market.
Nike remains the top clothing brand among teens across all income levels. American Eagle, Forever 21, Lululemon, Adidas, and H&M also rank among the most popular apparel brands. Top footwear brands include Nike, Vans, Adidas, Converse, and Steve Madden
Helping teens learn to handle money can be a tricky proposition. Mistakes can quite literally be costly, but there’s really no substitute for hands-on practice when it comes to managing finances.
Children are the ultimate investment, so teach your teen to be a smart spender with these savvy tips:
Start with saving. As a first step, open a savings account for your teen and involve them in the process. Use this opportunity to teach good habits, such as putting away a percentage of every paycheck, creating an emergency fund and setting savings goals for big purchases. Visit the bank together and explore the account options. Many banks offer incentives for high-balance accounts, and while your teen likely won’t qualify, it’s a valuable lesson to see the incentives available to big savers.
Move on to basic checking. Although most banks still refer to their most accessible accounts as “checking” accounts, chances are that your teen is more likely to shop with a debit card or cash rather than checks. Still, knowing how to write a proper check is an important life skill – as are conducting debit transactions and understanding any fees associated with using the account.
Create safe zones. Even after teaching them the fundamentals, letting teens make their own purchasing decisions can be a frightening prospect. Fortunately, if you know where to look, there are options available that offer teens a customizable level of autonomy while still under the oversight of a parent. For example, Amazon introduced a way for teens ages 13-17 to shop using their own, independent login linked to a parent’s account. In addition to product recommendations, order histories and lists tailored specifically to the teen’s shopping history and interests, teens can exercise smart shopping decisions with access to customer reviews and comparison shopping tools.
Parents have the option to review and approve every purchase or set spending limits that offer teens the freedom to place orders up to a certain dollar amount on their own. In either case, parents receive notifications for every order and shipment. Find more details at Amazon.com/forteens.
Set a budget. Part of smart spending is learning to shop within your means. Whether your teen’s income is a part-time job, allowance or a combination of the two, building a budget that defines expenses and expectations are essential. Like any budget, it should include all income sources and all expenses he or she is responsible for, including auto maintenance, gasoline, insurance and beyond. Reinforce the importance of saving by including a regular savings allocation. Putting all of these numbers to paper lets your teen see clearly where the money is going and how much is left over for extracurricular spending.
Put safety nets in place. No matter how much planning is done in advance, surprise expenses will inevitably pop up. Teens can prepare for these expenses while also guarding against mistakes and the temptation to over-spend by taking advantage of special services available through banking institutions, such as setting a per-transaction or daily spending limit and investing in overdraft coverage.
Ultimately, money management skills come with time and practice. Creating a safe environment for your teen to practice these life lessons sooner rather than later can pay dividends down the road.
Source: Business Insider and Amazon
Photo Courtesy of Getty Images
Freedom Is A Choice! “I am grabbing God’s coattail and letting Him lead”
Freedom has a deeper meaning for those like Omar Howard. Just a little over a decade ago he was released, seemingly free from the restraints of prison. Yet, walking out of the doors he had no clue he would be entering into the harsh prison of life that follows those like him who have a record. That record makes it hard for them to have the basic level of freedom that most of us who have never been down that road take for granted. Howard is like multiple men and women who are released from jail with a plan to change but have to fight the “system”. Howard describes his “beginning” as working endless opportunities just to make ends meet and being told “no” repeatedly. It would have been easy for Howard to just go back to the life of crime. Why wouldn’t he? Why didn’t he? His response, “You have to make a conscious decision to change every day. Life is about choices, every choice leads to a destination and you have to believe God is in control”. This thought process and his tenacity led him to his current place and receiving his pardon January 2018, just a month after celebrating his ten year release.
Howard was 15 when he dropped out of school and started down a path to destruction. Hard robbery was the crime that would ultimately change his life and leave him with no choice but to accept a plea deal that resulted in an 18 year sentence from a “hit” that left a man being killed. Howard maintains his innocence in the murder and has apologized to the family for the part that he played. Although he doesn’t blame his childhood for his choices, he does state that it’s important that parent’s play an essential part in the lives of the children that you bring into this world. “Parental intimacy is important, create structure for your kids and let them know how much you love them. Fathers, be a part of your children’s lives or they will embrace their counterparts for support. Be transparent and talk to your kids about real issues.”
When asked, What would you say to your younger self? Howard responds, “Establish a relationship with God. Embrace the process, strive harder and KNOW THAT YOU HAVE A PURPOSE.” The same thoughts he now shares with the youth that are involved with his foundation “Freedom is a Choice, Inc., a mentoring program for at-risk teens. It is evident that Howard is a changed man, as a Chaplain at the Atlanta Transitional Center in midtown, he speaks hope to those who are where he once was. He is a featured speaker in the documentary “Released” When Does the Sentence End?” and most recently shared his story on Iyanla Vanzat’s “Fix My Life” show. He is a man of action and on a mission to keep as many young men from walking in his shoes by exposing them to better. He is a sought after motivational speaker and hopes to extend his program to have one of the largest faith-based youth centers very soon. It is nothing short of amazing, but his ability to serve and give makes him a blessing.
Read more about The Omar Howard Story.
Is This Life?
Media headlines are displaying disaster all over the world with no resolve. From children being killed in innocent shootouts because of the flaws in gun laws to sexual abuse cases on the rise. Our government has gone haywire and currently dominating the spotlight while, deadly diseases and mental illnesses are being minimized. Is this life? Is this what life is becoming? Every morning we wake up to the sound of breaking news and headlines that make us cringe. Positive stories and encouraging words have become harder to find. When asking others, “How do you deal with the negative energy every day?” Some reply, “I don’t. I don’t watch the news, or I don’t listen to it.” My reply is usually this, “It isn’t just on the news. It’s walking or sitting right beside you and sometimes it’s even in your household. There are people suffering every day because of the things we don’t do, don’t want to see, or simply don’t want to get involved in.” We have been conditioned to not get in anyone else’s business unless it affects us personally. Look around you, open your eyes. It’s now affecting us all and we must do something. This is a call for action. It’s time we all unselfishly take part in rebuilding our communities. Make it your business to do something intentional every day in an effort to make a change in your community and begin to push everyone including yourself out of the comfort of just accepting what is. We are losing innocent lives every day to drug abuse, domestic violence, hunger, contaminated water and the list of disasters that are happening right under our nose increase, every second, every minute and every hour of every day.
You may be wondering what you can do to promote positive change in your community, here is a start:
- Volunteer at shelters-Everyone has something they can provide-share your expertise. Help by donating your goods and knowledge.
- Volunteer at schools-Teachers need more mentors and positive role models. We all have a story, share your experience and give a child a blueprint to a better life.
- Spend quality time with your kids and your family- We get so caught up in life that we forget to nourish what we have already been blessed with. Take time to water the seeds you planted.
- Contact your political partners and work with them on change for your community. What do you see in your area that would be an easy fix to reduce crime or poverty. Make a plan and Expose it!
There are so many things that we can do to change the direction of this world but WE must work together for the good and it doesn’t matter what religion, race or sex you are-we all have something in common. We want the best for our families.
Post and share your thoughts on what you can do to expose and improve your community. Hashtag#exposuremagazine #isthislife
Cubs Sign Pitcher Yu Darvish to $126 Million Deal in Preparation for Next Title Run
Making one of the biggest splashes this off-season, the Chicago Cubs have added pitcher Yu-Darvish, formerly of the Los Angeles to their talented, but imperfect roster.
The deal for Darvish standing at $126 million also comes with an opt out clause along with performance clauses to increase the value of the deal. The Cubs had been in talks with Darvish for a good portion of the last season, but now apparently was the best time for both parties.
Despite the unceremonious ending to last season in the NLCS, the Cubs have been in a better place these past several seasons than they have been in a long while. The signing of Darvish to say the least is a very good insurance policy to sustain this run.
With names like Jon Lester and Kyle Hendricks, Darvish will complete the rotation for one of the most talented group of pitchers in baseball. However this move seems to nudge Cubs pitcher Jake Arrieta who is currently a free agent to the door. Arrieta had an up and down season with flashes of greatness, but ultimately didn’t make the best case to remain with the ball club.
Darvish brings a 2.4 ERA against National League Central opponents as well as his all-time MLB leading 11 strikeouts per nine innings ratio to the Cubs which makes this the pickup many other teams are coveting right now. The Cubs begin spring training in a week and can begin integrating Darvish then in preparation for the upcoming season.
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