On the Money Saint Louis, Winter 2022

Bettering the Community

Exposing Students to Colleges and Universities

One of our important services for high school students is People’s Community Action Corporation’s College Connection Educational Tours. Our goal is to inspire, encourage, and assist students in attaining higher education and career goals.

Additionally, there are health benefits due to attending college. According to People’s Health Centers CEO, Dwayne Butler, “Individuals who are successful in achieving higher education are likely to live a longer life and have overall better health outcome during their lifetime.

We realize that exposing students to a higher educational opportunity will help them gain a new life experience and give the, an alternative outlook on their future. “At PCAC, we fully recognize the value

and importance of a college education in moving families out of poverty,” says Mark Sanford, Executive Director of People’s Community Action Corporation.

“Many young adults in out community come from families with limited knowledge or history of enrollment in college. Taking a college tour is a great way to develop knowledge of college life and increase the comfort level of college environment for both students and parents.”

It is also an opportunity to consider the long term benefits of higher education. Students who achieve degrees from colleges, universities or trade schools are likely to have seven times more earning power in their lifetime than those who do not.

For information about the College Connection Educational Tours program, contact David Swingler at 314-305-9290.

Mr. Mark Sanford

Mr. Dwayne Butler

People’s Community Action Corporation’s College Connection Educational Tours

A New Horizon for Hopewell

ALM Hopewell Center under Peoples Family of Corporations is excited to announce a new Youth Trauma Program that will focus on children 3-6, 7-13, and 14-18 years old that have been impacted by related trauma.

Our goal is to provide a host of individual services to our clients which includes; Therapy services (individual, group, family, and play), Case management, psychosocial rehabilitation groups, Drop in Center, Community Outreach, and a 24-hour Crisis Hotline.

The Peak Response Trauma Program wraparound model of services to our children and families. The Peak Response Trauma Program approach will be done by utilizing the PHC Family of Corporations service model, which will include access to medical, dental, community action resources, and Behavioral Health services. This service model will assist The Peak Response Trauma Team to meet the needs of the youth and families we serve by providing access to ALM Hopewell, People’s Community Action Corporation, and People’s Health Center.

For more information, visit Hopewellcenter.com

By

By Jeremiah Willis

Jeremiah Willis

By Jeremiah Willis

By Denia Adams

Understanding

CREDIT

When you graduate school and no longer feel the pressure from academics, you will naturally feel lighter and prepared to take on the world with no more stress from standardized scoring. However, that relief is cut short when you learn that there is another score that you must depend on, the credit score. This score determines the accessibility of financial resources and opportunities.

The FICO Score, or credit score, acts as your financial GPA; which can go up or down depending on how responsible you are with your financial decisions. It’s important to have a high credit score because it can help you save money on important expenses. It does this by lowering the interest rate that you pay on loans and credit cards, thus lower interest rates can save you thousands of dollars in the grand scheme of things.

An easy way to build credit is getting a credit card and using it wisely. A good way to use credit wisely is by not using credit on outrageous expenses and paying the card balance off in full every month. You can also choose to pay the minimum balance, but that will add interest to the next payment and is not smart for saving money. Neglecting to make timely payments or defaulting will significantly impact your credit score in a negative way.

You can use your credit card to build your credit quickly by maintaining a low utilization rate. A low utilization rate is less than 10%, but the ideal utilization rate is less than 30%.

Being responsible with your credit promotes financial stability for future endeavors.

How to Save

At some point, you’ll have a goal that requires you to save money.

Although saving is not easy, efficient budgeting and willpower can prevent impulsive spending. It’s important to start saving early, because starting to save money early in life can work in your favor due to compound interest. Compound interest is the additional interest to the principle sum of a loan or deposit, or in other words interest on interest. For example, if you save a dollar at age 20 at 8% interest that dollar will be worth over 21 dollars

when you’re 60 years old. Additionally, if you save a dollar at age 30 at 8% interest that dollar will be worth just over 10 dollars when you turn 60. Starting early goes a very long way.

Paying attention to your income and expenses is also a good step to take when saving money. According to MarketWatch, 56% of Americans are living paycheck to paycheck due to lack of savings. There are so many reasons to start saving early, find your reason(s) and begin to save for your future.

Enkosi Key

At some point everyone should have a financial goal, and that goal could be anything as big as buying a house or as small as buying a pair of designer shoes.

Understanding Income

Income is the money that you earn. This money is from jobs, allowances, gifts, and many other sources. Income is important because without it, it’s hard to afford the essentials. In today’s world, you want to be smart and try to have multiple sources of income. This can be done through multiple jobs or investing. I recommend multiple sources of income, if one fails then you have another to fall back on in the event of an unsuspected emergency.

An easy way to diversify your income is by investing in stocks and bonds though investment apps like Stash and Robinhood Markets.

Stash offers retirement, banking, individual investment, and custodial accounts through a web platform and mobile apps. With Stash, users can invest as little as $0.01 increments into fractional shares of thousands of stocks as well as invest in personal and retirement accounts. Stash also offers financial education and automatic investing.

Robinhood’s mission is to “provide everyone with access to the financial markets, not just the wealthy.” Robinhood Markets is a financial services platform that operates with commission-free stock trading with no account minimums, fractional share trading, and focuses on cash management services including debit cards.

Enkosi Key

REAL FAKE DOES THE

OR BRAND BRAND MATTER ?

The question that has existed since the beginning of “brands” themselves, Does it matter if something is authentic or a “knock off”? This question exists with everything from socks to purses and it will likely exist after my opinion in this article is published.

Many of us have likely heard someone question another on if their shoes or clothes are “real” or not. But why exactly does that matter? What edge does authenticity have? Well for starters, authentic has the appeal of being well… authentic. I’d much rather wear real Gucci than fake Gucci, and if I can’t afford it then I just won’t buy it. Another appeal that authenticity has is the material, the material is almost always better and lasts longer.

Clothing items with longer lifespans could result in less trips to the store and more money saved in the long run. I don’t mean to say that you need

to spend an enormous amount on real items, but buying things that are authentically made might save you money.

The research findings of Francesca Gino (University of North Carolina), Michael I. Norton (Harvard Business School), and Dan Ariely (Duke University) conclude that wearing counterfeit not only fails to give us the sense of confidence, but it also undermines our sense of genuineness and makes us cynical. According to the Scientific American article on the research, “faking it” makes us feel like phonies and this alienated or counterfeit “self” leads to cheating and cynicism in the real world”. So, please keep this knowledge of the financial and psychological costs in mind. In my opinion, I say don’t sell yourself short and buy what you can afford even if it isn’t trending.

Be YourOwn Boss

Many young people have become interested in owning and operating their own businesses. Gen Z, or the “Zoomers”, are the generation most interested in entrepreneurship. According to an April 2021 article from worth.com, 62% of Zoomers indicated that they have either started or plan to start their own business. This is a major societal development and there is a great entrepreneurial spirit of Zoomers. With this in mind there needs to be more education on entrepreneurship for these young ambitious souls. The first question that needs to be asked is what exactly is entrepreneurship? A lot of people believe that the definition is as simple as an individual that

starts and operates their own business but that’s not what it really means.

An entrepreneur is an individual that takes on the risk of starting and operating their own business. Let’s emphasize the word “risk,” because there is a level of real risk in starting a business. However, there is also the potential for big rewards. Owning your own business can not only put you in a great financial position, but it can also be a very fulfilling opportunity in your life. Most notably, it can be a significant factor for establishing generational wealth.

Jeremiah Willis

6 Steps to Starting a Business

Below are essential steps in starting your own business.

DEVELOPING AN IDEA: It is important to decide what you want to do and organize your thoughts surrounding the idea.

CONDUCT MARKET RESEARCH: This is where you really find out if there is an opportunity for your idea to become successful.

WRITE THE BUSINESS PLAN: This is essential for banks and investors to see if you are someone that they want to take a risk on. It also helps you highlight your priorities and plan.

FUNDING: Assess the funds needed for your business and determine your funding sources.

You don’t need a million dollars but you will need money to start.

LOCATION: Location matters! The location determines the frequency and demographics of consumers.

REGISTER YOUR BUSINESS: Once you’ve developed the fundamentals of everything you’ll need to register with the federal and state governments. From there you’ll get an EIN (employer identification number) so that you can pay taxes. The EIN is essentially your business’s identification number.

The above information and steps could help you with making an informed decision on your ability and willingness to take the entrepreneurial journey.

Finding a Career The Job of…

Career: The Life-long Decision of an Individual’s “Journey” Through Learning, With Work and Other Aspects of Life

We as students continuously hear the talk about how “you” should prepare for a career all of your childhood. With over 12,000 careers to choose from, picking the perfect career for yourself may be a challenge.

There are many ways to prepare for the career that’s the best fit for you. When exploring various careers, be sure to take advantage of networking, researching, possible internships, and even shadowing that can help you determine your interest in a specific career path. There are different types of exposure that are crucial when deciding your potential career. When searching for the career that’s perfect for you, being aware of your interests and which hobbies you enjoy can play a major role when deciding which path to pursue.

Gaining exposure is key to a job, but finding the legitimate resources to the different opportunities also takes planning. Lucky for you, there are many community agencies that can help connect you

with potential internships like STL Youth Jobs and The Urban League. There are so many available and accessible opportunities out there, you just have to go out and get them.

Additionally, there are online resources like websites and assessments that can guide you in the direction towards potential careers. For example, LinkedIn is an employment-oriented online service that operates via websites and mobile apps to assist with job search. LinkedIn can also be used for professional networking, which can build your reputation with employers.

After you make your decision on which path to take, it is not over yet. It is important to narrow down your choices to choose the best job and to promote success in your journey towards fulfilling your dream career. Following your discovery period of research and planning, you will learn which requirements are needed for your career. So, stay motivated and you will achieve success!

Denia Adams

As we all know, college is a billion-dollar industry that profits! The success of this business by allowing student loan debt to build up. Not only does the school profit from these student loans but so does the lender. As many college students forget about their school debt and let it keep collecting interest, your credit ratio starts to become off balance. On your credit report, it would show that your debt to income doesn’t match causing your credit to fall.

In conclusion, acquiring scholarships can help you pay for school but learning about the differences in scholarships prior to obtaining them can promote a healthy debt to income ratio. Thus, also promoting success in your adult life after graduation. Although it would be difficult to have zero student loan debt, with adequate research and preparation your credit can soar.

Denia Adams

It’s A Mental Thing

People nowadays talk about being

an entrepreneur,

but they rarely talk about the mindset that’s necessary to get there. It takes a lot to overcome the challenges that you will face as you strive to become one. At times it will also take a certain amount of guidance in order to be a successful entrepreneur. Success is in the journey and there are some downfalls that go along with being successful in the end. Being talented can only get you so far, it’s your choice on what you do with these gifts which could make you or break you.

For starters, do you think you could open your own business without a fully thought out plan? Establishing a business plan takes time and rushing into a costly decision will hinder you. This is one of the most common mistakes of any beginning entrepreneur. Consulting with a career mentor that has been through the ups and downs of the industry is essential. The guidance of a mentor could assist you with finalizing your business plan and give you advice on legal aspects, marketing, product inquiry, etc. Don’t be afraid to ask for help, because knowledge is power and remember, you are taking your first steps. Being open-minded to wisdom could open many doors for you, including the door to innovation and ultimately success.

Denia Adams

It’s Time To Own It!

WHETHER IT’S OWNING A HOUSE, LAND, OR YOUR OWN BUSINESS, ownership gives you full responsibility to establish what you want. The advantages of ownership include flexibility of schedule and being your own boss. Another plus to ownership is that you can pass this asset down to someone else. This is a great way to build generational wealth. Generational wealth may consist of valuable assets such as cash, real estate, securities, and/or ownership of a family business. Preparing the next generation is a great way to prevent similar struggles that you may have endured on your own financial path.

Jeremiah Willis

Gives Back Jay-

Jay-Z is nicknamed “The Goat” (the greatest of all time), not only because of his lyrics but because of his generosity to fellow rappers. This generosity is a trait that helped him become a billionaire. He has also helped pay many rapper’s debts, such as DMX (12 million) and Lil Wayne (one million). As the saying goes, “You can’t beat God given” meaning when God blesses you, it’s in full.

Jay-Z has made huge investments in Uber, Tidal, and real estate. One thing you can learn from Hov is that he took a risk with his money and it paid off. You can’t get money if you are scared to spend money. Hov once said, “I can’t help the poor if I’m one of them so I got rich and gave back, to me that’s the win-win.” Jay-Z is a prime example for giving back to the community.

Jeremiah Willis

MENTAL HEALTH IS WEALTH

In the song “Mind Playing Tricks on Me,” The Geto Boys go into lyrical depth about the mind being the worst thing to waste. Highlighting that the period from adolescence to adulthood can be stressful and how seeking therapy can help you throughout this process. Rapper Kehlani once said “It’s OK to not be okay, you don’t have to keep up with

the Joneses.” Self-care rituals like working out, journaling, and resting can help ease this pressure. Being selfish isn’t always a bad thing, because it’s hard to help others if you haven’t helped yourself. As Prodigy once said, “hip-hop is our therapy.” You can’t keep a boat afloat if you’re sinking yourself.

Jeremiah Willis

The Successful

mess

Overall, I might have everything going right for me, but I know others see me as a hot mess. Some days, I am discouraged by others and how they wrongfully judge me. But, I continue to move forward and I am looking forward to my future as I strive to be known for being my true self.

Even though I am a hot mess, I wouldn’t trade it for the world. With some tweaking and TLC, I will be alright. While my life is a hot mess, I understand it fully. The only thing about being a hot mess is that you have to stay organized. I would not be able to survive this complex life without a sort of mental understanding. This lifestyle is most definitely a mindset. Most of the time you have to keep encouraging yourself, because it feels like

you’re the only one that knows you’re doing things for the greater good. Also, staying busy prevents you from doing things wrong and gives you less time for foolishness. However, don’t get me wrong, there is a difference between being foolish and having a good time. The difference makes you say “it is, what it is” towards any fake friendships as they often drift away. Then, you may feel lonely but you learn to focus on yourself. Externally, people probably think you’re broken but you were only trying to hold others in place and fix what cannot be perfect.

Even though I may seem like a hot mess, I am perfectly me and I know there is a breakthrough coming at the end!

Denia Adams

I Am Starting To Get To a Point in My Life Where I Feel Like a Successful Mess