- National Foundation for Teaching Entrepreneurship (NFTE) teaches high school students how to start and run a small business. Students have the opportunity to gain work-based experiences, develop leadership skills, and boost their self-esteem.
- Junior Achievement focuses on preparing American youth for the demands of a global economy. Through age-appropriate curricula, activities, and training, students of all ages learn about the market economy, work-readiness, entrepreneurship, and money-management.
- Black Enterprises Kidpreneur/Teenpreneur Conference targets African-American youth, ages 7-17 for workshops that range from increasing interest in business and creating business plans to managing and establishing microenterprises.
- Students in Free Enterprise is an international organizations that grooms college-level students for socially responsible entrepreneurial endeavors. They provide credit-card counseling, free enterprise project implementation, and professional mentorship.
- U.S. Small Business Administration Teen Business Link provides a slew of links and resources to mentoring programs, academic scholarships, and internship opportunities.
Friday, March 21, 2008
"Mind Your Own Business": Teaching Financial Literacy and Entrepreneurship to Our Children
Wednesday, March 19, 2008
Which Came First? The Bible or the Nest Egg? Using the Bible as Financial Blueprint
Money Principle #1 Create a budget and stick to it!
Bible Verse: St. Luke 14:28-29 "For which of you, intending to build a tower, sitteth not down first, and counteth the cost, whether he have sufficient to finish it? Lest haply, after he hath laid the foundation, and is not able to finish it, all that behold it begin to mock him."
Money Principle #2: Focus on Yourself, Not the Joneses
Bible Verse: Galatians 3:4-5 "But let every man prove his own work and then shall he have rejoicing in himself alone, and not in another. For every man has his own burden to bear."
Money Principle#3 Pay Off Debt in a Timely Manner/Avoid Predatory Lending
Bible Verse: Deuteronomy 15:1-2 "At the end of every seven years thou shalt make a release. And this is the manner of the release: Every creditor that lendeth ought unto his neighbour shall release it; he shall not exact it of his neighbour, or of his brother..."
Money Principle # 4 Be persistent and follow through to reap the benefits of hardwork.
Bible Verse: Proverbs 12:11 "He that tilleth his land shall be satisfied with bread; but he that followeth vain persons is void of understanding."
Any comments, please send to adjowa2001@yahoo.com
Sunday, March 9, 2008
FUQs : Frequently Unasked Questions on Money and Finance
Scenario #1
Your best friend says that she is the personification Sonia Sanchez, Amiri Baraka, a helping of Lucky Dube and a hint of Erkyah Badu and Public Enemy rolled into one. One night, she invites you to bear witness to her lyrical prowess. Her art. Her craft. At a local poetry cafe. By the middle of the third poem, you realize that her poetry is not only contrived, but also uninspiring. But when she leaves the stage (exit stage left) and returns to her seat and asks the faithful question, "Girl, what did you think? How was it?" You are tempted to ask her how many credits shy she is from completing her degree in Accounting, but instead, you muster a, "Girl, you know how you do!" and seal it with a nod and (big)smile.
Scenario #2
Your sister-in-law invites you to a financial literacy seminar. At the seminar, the speaker speaks quickly, but nonetheless, eloquently about the current market forecasts, inflation, the climate of the housing market, and predictions on the future of US economic development. There is a wealth of knowledge, but not easily digested in one setting because the content is dense. Cognizant of this, the gracious speaker opens the floor for dialogue. Hands go up, all except yours. You think your question is too simplistic to ask. So, instead of posing your question, you posture with a nod and smile. For effect, you may throw in, " She was so amazing!" to a random registrant as the crowd files toward the exit.
Why We Don't Ask and Answer Questions
We often do it to avoid confrontation. We also do it when we are scared to voice uncertainity, confusion, and express a need for help. Yes, our pride, beautiful and brazen, when not tempered gets in the way of us being our most evolved and informed selves. The crippling agent, fear, coupled with insidious societal need for conformity and latent need for acceptance dwarfs the rate at which we take risks, go against the crowd, and stand alone.
When it comes to elevating our financial acumen, we have to ask questions. And the more basic, the better. A solid financial foundation that is built on the mastery of seemingly trivial, rudimentary concepts and facts will allow you to easily incorporate the more complex, complicated ideas into your fiscal schema.
FUQs: 5 Frequently Unasked Questions on Finance and Economics
Q. What type of economy does the United States have?
A: Technically, the United States is said to have a mixed economy because both privately owned businesses and government both play key roles in its growth. It, however, moves and acts like a free market or market economy. A market economy is characterized by an emphasis on private ownership, not government ownership. In fact, private business produces and distributes the majority of goods and services in the country. What also makes the American economy free-market in nature is its belief in the power of supply and demand to determine the prices of goods and services. The prices of goods and services, in turn, inform businesses what should and should not be produced, making way for the entrance of businesses "competitive enough" to produce and the exit of businesses unable to compete in the free enterprise system.
Q: What is the Federal Reserve? Why is it so important?
A: The Federal Reserve System is the central banking system of the United States. The Federal Reserve, as a central banking entity, is responsible for the country's monetary policies and decisions, which include monitoring, managing, and controlling the supply of money and trading it in the foreign exchange markets. The former Chairman of the Federal Reserve was Alan Greenspan. The current Chairman of the Federal Reserve is Ben Bernanke.
Q: What is difference between and stock and mutual fund?
Q: What is an IRA? What is the difference between a traditional IRA and a Roth IRA?
A: IRA stands for "individual retirement account." A traditional IRA is an account which allows individuals to make investments with tax-deductible contributions. This money can be invested in stocks, bonds, mutual funds, or other investment vehicles and grow tax-free until the person is 59 1/2 years old. Penalties are imposed for withdrawals made before this time. After 59 1/2, account owners are permitted to make withdrawals, but must make withdrawals by 70 1/2 years old. The withdrawals will be taxed at your current tax rate.