FA L L 2 0 1 1
Teen Guide to
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The New Faces of Money
E BA E S
O ET W
BY TEENS FOR TEENS
See CHICAGO for LESS
Cars: The Full Guide Page 14
Stocks & Index Funds
Letter from the Editor Dear On The Money readers,
This magazine is fully dedicated and completely fashioned towards you and your monetary needs as a Chicago teenager. As a 17-year-old living in the city I know what it’s like to go out to eat and reach into the depths of my pocket to only uncover a few measly dollars. The articles in this 2011 edition of On The Money seek to help you both save and earn that much needed money. If you’re a video game fanatic or pet lover there’s advice for you. If you’re a bookworm or an aspiring engineer, read on. There’s a little bit of everything for everyone in this edition, all aimed at helping you! Becoming money smart is a process and it can begin now by applying the financial literacy tools in this magazine!
Good luck, Jordyn Holman
Jordyn Holman - Editor & After School Matters Ambassador Walter Payton College Prep, Grade 12 Lawerence Riley - Graphic Design Editor North Side Prep, Grade 10 Jhalil Gafeney - After School Matters Ambassador Ace Technical, Grade 12 Maribel Arellano Alex Mitchell University of Illinois at Chicago, Whitney Young, Grade 10 Gage Park Graduate Justin Mitchell Kamal Bilal Whitney Young, Grade 10 Whitney Young, Grade 10 Edna Patterson Jackson Beard Muchin College Prep, Grade 9 Walter Payton College Prep, Grade 11 Nina Ridgner Darius Clay Perspective Charter School IIT Math Chicago Talent Development, Grade 11 and Science Academy, Grade 11 Stephanie Greene Dexter Sullen Walter Payton College Prep, Grade 11 Paul Robeson, Grade 10 Jai-Michael McMillian Jada Williams Southshore International Innovation High School, Grade 11 College Prep, Grade 9
Thank you to our program parterner Contents 3 4 5 6 7 8 9 10 11 12 13 14 15 16
About On The Money
On The Money magazine is written by teens forother teens. On The Money covers business, finance, credit, saving and more...providing real world experiences and resources that can help students learn to meet their money and career goals. On The Money is provided by the Economic Awareness Council through collaboration with True Star Magazine, the Office of the City Treasurer of Chicago, Stephanie D. Neely, After School Matters and the Chicago Public Library
About the EAC The Economic Awareness Council is a financial education non-profit organization that services over 11,000 individuals each year with programming for students and families. On The Money Magazine would like to thank HSBC - North America, State Farm Insurance Companies, and the Charter One Foundation for their sponsorship of this issue.
Letter from the City Treasurer of Chicago Teen Guide to Saving Accounts Building Financial Dreams Differences Between Stocks & Index Funds/Jobs You’ll Like That Still Pay Well Investment Banking: A Big Investment, A Big Reward Gaining While Gaming Engineers Giving Back to the Community Socially Conscious Businesses/Math and Science: Business and Engineering Saving Abroad See Chicago for Less How much does it cost to have a pet? Cars: the Full Guide New Year, New Read, New You/ Getting the Most Book for Your Money Take the Young Illinois Saves Challenge/ In the Know
Direct deposit = money that is deposited or put into your bank account electronically rather than through a paper check. Save money on every paycheck. Open a bank account. Set a savings goal and learn more. Visit www.YoungIllinoisSaves.org. Over 300 students have opened accounts or set up direct deposit through Young Illinois Saves.
Letter from the Treasurer As Treasurer for the City of Chicago, I am often asked for investment advice. I tell them the best thing they can do is to invest in their own money smarts. I know itâ€™s never too early to start thinking about your future, especially your financial future. The start of a New Year is a great time to set financial goals for yourself. Once you start working there are several ways to take control of your money and make it work for you. Instead of a paper paycheck, young people are much better off having that check automatically deposited into a bank account. This will save hundreds of dollars every year in check cashing fees. It also makes it easier to automatically set aside a certain portion of that money and put it into a savings account. Those savings will earn you interest and build a life-long habit of taking control of your money. Those savings can help you pay for college, buy a car or even start your own business. The most important thing is to have a plan, and then use your money smarts to get there. Remember, itâ€™s your money, your choice. Stephanie D. Neely Treasurer, City of Chicago 3
Savings Accounts: A Teen Guide
Half of teenagers are working at the age of 16, the other half are on their way to college and most of them don’t know how to manage their money. Teen should think about opening up a savings account. This way they can manage their money and won’t spend it all when they get their pay check or hang out with friends. Every teen needs to know how to handle their money or they will have bad financial problems or go in debt and mess up their credit score.
Also, look for student or teen special accounts which should have low fees and a low minimum balance (PR Newswire. 2011). 3) Additionally, check the locations of the atm because it will be free and convenient if your bank’s ATM is near by. Don’t forget to see if they have a fee for opening an account. 4) Finally, make sure that you’re not signing up for an account without interest or incentives to save. Look for start up offers and a high interest rate. 5) Check around to see what you hear about the bank from others you know.
Life is expensive. The care and feeding of the average 15-year-old runs $13,530 per year, according to the latest figures from the US Department of Agriculture. Parents are now paying 20% more to raise their kids through age 17 than their parents spent to raise them and this is another reason why teens should save.
Teens should open up a savings account so they will have enough money to buy or cover whatever they want or need. A savings account is what all teens need especially because they’re young and it’s a great way to start saving young. Saving will take so far in life and then you won’t have to worry about financial issues.
When making the decision to open a new savings account there are several factors to consider. 1) The first is to ensure that the account has low or no fees. 2) Next, look for an account that’s has a low minimum account balance. According to Brandon Gray, a speaker for Young Illinois Saves and former intern at the Museum of Science & Industry, “Set up a bank student bank account so that [you won’t] face any fees… I had some problems with that as well. Most banks will take away the charges if you’re a student, but some won’t.”
If you save just $7 per day until you retire, you will be a millionaire! (Assumes an 8% APR from age 16 to 65.)
Start small. Think Big.
Join the Young Illinois Saves movement today! saving information, prize drawings and savings accounts with no fees.
Made possible through the generous support of the
Bank of America Foundation
Building Financial Dreams
What do teens dream of? ...Financial stability, a car, a house, and the other luxuries of life. Building up to the dreams one may dream can be a difficult task. Saving for those dreams is twice as hard for teenagers in today’s society. The last thing on an average teenager’s mind is how they save for their future. Young adults usually spend without thinking of their future plans and goals. With fashion, entertainment, and daily expenses on a typical teenager’s mind, the idea of paying college tuition in the near future is easily overlooked. Keeping up with a materialistic generation heavily influences the decisions of some teenagers. For example, that new pair of Jordans may seem like a necessity, when it’s really a want. Fast forward to when you’re at your college campus, that Economics text book IS a necessity, but you won’t be able to afford it because instead of saving you had bought the Jordans! As teenagers, we have to think about the future. According to Brandon Gray, a student at Daley College and a speaker for Young Illinois Saves, “[A tip} I would give to anyone my age or younger... is never to have cash in hand. It’s way too easy to spend [cash], not to mention you could easily lose it or have it taken from you. [Also,] abide by the 40-60 rule. That rule being to put 40% of your money into a checking account for spending and 60% into your savings account. That may sound basic, but it really does matter to save more than half of your earnings. It also teaches you what you really need to spend your money on because you’re never going to want to run out of money.” Teenagers spending habits are often reckless and not well thought out. For example, we spend money on shopping (shoes, clothes, etc.), going out to eat, and partying. AT TIMES THIS CAN CAUSE BAD JUDGMENT CALLS. Just ask Jada, another Chicago teen who is 16 and did not know what a budget was and spent on junk food, clothes and accessories. Most teens are stressed about money, but teen girls are feeling slightly more anxious in today’s climate than boys, with more than eight in ten girls (85%) saying they’re worried about the economy, vs. 75% of teen boys. And nearly nine of ten girls (88%) say they’re fretting about money, vs. 82% of teen boys, according to a recent survey (Children’s Mutual). But teens can save! According to research released by The Children’s Mutual to coincide with the third anniversary of the Child Trust Fund (CTF), youngsters given $31,786 at 18 are most likely to save it (57 percent) of the time, with spending on education or putting it towards their first house being the second and third choices. Even with less money, there are ways to save for your future and big dream. First, establish a savings account, find a job, spend on needs rather than wants, and BUDGET BUDGET BUDGET!
Difference Between Stocks and Index Funds
Jobs You Like that Still Pay Well As high-school students, we are going to have to start thinking about what job we want to pursue in our near future. Furthermore, if you do not want to be the “cliché” doctor, lawyer, or businessman, it is a little difficult to figure out how to turn your interests into a career. However, whether you are passionate about sports, math, technology, etc., there are jobs out there that may allow you to make a respectable salary while doing the things that you love.
People have many ways to diversify their money. Two of the most common ways are putting them in stocks and index funds. Unfortunately, many people don’t know the differences between them, how much money should go into each, and the risk and rewards that accompany each one. A stock is something you buy that gives you part ownership in a company. While stocks have the largest risk of the two types of investments, they also have the largest reward. An index fund is a selected group of stocks (usually a mutual fund or exchange-traded fund) that aims to replicate the movements of an index of a specific financial market, such as the S&P 500 or Dow Jones.
For example, if you enjoy creating and drawing art, a multimedia animator is the perfect job for you. With a little help from computers, you can transform your daily sketches into extraordinary animations used for commercials, television programs, and movies. Additionally, according to payscale.com, multimedia animators can make over $78,000 a year.
Index funds, unlike stocks, have a somewhat lower risk than an individual stock because they are diversified, but they also typically have a lower return. Many people choose to invest in index funds because they are a lot less work than selecting specific stocks.
Another interesting job is a sports analyst. According to the Bureau of Labor Statistics, sports analysts can make up to $400,000 a year. Sports analysts can work in many different areas. They can be writers for a magazine or newspaper, or a sports broadcaster. Some professional teams even have sports analysts on staff to help the coaches. If you have a true love for sports and obtain a bachelors degree, you may end up making up to half a million dollars a year. For more information about jobs, visit dailyfinance.com and/or careers.com
Bruce Marcus, a financial advisor at MorganStanely SmithBarney, believes that the ratio between how much a person should own between stocks and index funds depends on many variables. His two main variables are a person’s age and health. Marcus says that a healthy person under 50 should own around a 70 to 30 ratio in favor of stocks. He says once a person reaches 50 that ratio is reversed to a 30/70 ratio in favor of index funds.
Stocks and index funds are just two ways a person can diversify their money. People also can put their money into two other types of assets or investments, commodities, bonds and cash. Tune in this spring for more information on these!
to Thanks on Kevin LyePaul D and the Center! Writing
$ $ Investment Banking: A Big Investment, A Big Reward
You might not be searching for a job just yet, but you should be starting to think about what you enjoy doing and what you might want to do when you grow up. When thinking about this, you should try to figure out your interests and your passions and relate them to a job or a certain profession. If you are interested in how businesses work and you would be passionate about helping them improve and grow, you might want to look into and consider a career in investment banking. Before getting into details about what investment banking entails and what you need to do to be successful, you first must be wondering what investment banking exactly is and what education and experience is needed to become an investment banker. Investment banking, in the simplest form, is a specific division of banking related to the creation of capital or generating funds for businesses by issuing shares or stocks for other companies. In terms of the education needed to become an investment banker, requirements depend on an individual’s goals. However, most investment banking positions require a bachelor’s degree in finance or a related field and most management positions require a master’s degree in business administration or another related field. Investment banking isn’t like most other jobs in terms of the hours you need to put in and the work that you must do to be successful. You will be working much longer than 9 a.m. to 5 p.m. and your workload will be much greater. According to Brian DeChesare, an investment banking analyst, an investment banker’s day can be as long as 15 hours. An investment banker deals with many different clients each day, and he or she will be on the phone and computer a lot. According to Brian, you also have to be very self motivated. Now to what many people view as the most important part, the average income of an investment banker and the career path you must take to get to the top. Investment bankers average annual salary starts at $125,000 for a first year analyst and then increases to $180,000 on average for a first year manager or associate with an MBA to $1,000,000+ for a director or partner. Investment banking can be a vigorous profession. As explained in this article, it takes hard work and long hours to achieve your goals and to be successful. However, if you are willing to put in these long hours and work hard, you will be rewarded handsomely.
Planning for College
Planning for your college experience can be an exciting time – moving from the comforts of high school into a world in which you may be on your own for the first time can be both exhilarating and nerve-wracking. You’re about to put your intellectual and social skills to the test! As you go about choosing a college or university, keep these points in mind as they relate to your finances:
•Completing the FAFSA (or Free Application for Federal Student Aid) is the way to kick-start the process of finding out what your expected family contribution (EFC) is, and what types of financial assistance may be available for you. Schools use the information on your FAFSA to help determine any tuition assistance they can offer, based on the income and assets of you and your parents or guardians. You may qualify for financial assistance in the form of grants, student or parental loans, or campus –based aid such as a work-study program.
•It has become difficult for many families to pay for higher education in full without grants, scholarships, or loans. As you think about which school to attend, be sure that the cost of an education at that school and your eventual degree is consistent with the likelihood of finding a job in your chosen field, and at the salary you expect. Some student loan debt may be fine, but too much can put a strain on your finances for years, which can impact other financial goals.
Winding down your high school years and beginning your college education is likely to be an exciting time in your life. In order to make the transition as seamless as it can be, make sure you understand the impact higher education will have on you and your family’s finances. Getting the degree you want, from the college or university that best fits your needs – career path and financial, alike – can help make the next stage of your life that much more rewarding. Be sure to visit www.YourMoneyCounts.com for more information on saving, budgeting and planning for your finances.
Gaining While Gaming Video games have become a big part in a lot of teensâ€™ lives, and their production has increased amazingly. But, how much do we spend on games and why? Video games are fun and addicting. After spending all day at school or working, playing video games is a great way to relax. But, no one wants to break their wallet to relax. According to NBC, the video game industry has grown into an $18 billion industry and will only continue to increase. However, with a little research and careful thinking, paying for video games could be cheaper than you think. Since video games were created, they have evolved step by step into the works of art and science that we see today. Unfortunately, we have to pay for each artist who had a role in creating the game. Video games today have much better graphics, design, and dynamic movements. To make all of these things possible, different designers and programmers were needed and so we see an increase in prices.
There are a few easy ways to save money on video games: 1. Look at reviews of games you might be interested in before buying. 2. Try renting games first, to see if you like them. (e.g. from Redbox or Gamefly). 3. Try buying from the Xbox live arcade where prices range from about $5-$20.
The cost of production for these games is very large. According to G4tv.com, games like Grand Theft Auto IV cost $100 million to make. In 1990, video games on average costs between $30 and $50, now they are about $60 per new game. Video games are becoming more expensive because technology has made video games more desirable. However, there are still a few ways to enjoy this after school hobby without spending all your cash. Be patient, do some research on a game before you buy, and look to see if there are cheaper games that you would find just as interesting. This way you can gain while you game.
Lawrence Riley 8
Engineers Giving Back to the Community
Generally, engineers are able to give back to various charities because they have high salary jobs. Average salaries for engineers range from $75,000 (www.bls.gov/www.engineering101.com) for some types to over $166,000 for some of the highest paid specialties. Engineers do give back because their income levels allow them to be flexible enough to the point where they can be charitable to others. First, they tend to prioritize and regulate how much money they have before giving to charity. They can make sure their funds are stable at home before they give money away. Therefore, engineers develop this sense of generosity and responsibility from the neighborhoods in Chicago that they grew up in. According to Min Lwin a Ph.D. student in Nuclear Engineering at the University of Texas, “I think for most people, the neighborhood they grew up in plays a role in developing a sense of responsibility to give back to the community. Many of my coworkers were born and raised outside the United States in developing countries like India. I think having achieved success in America partly fuels their desire to help those back home who are less fortunate.” 9
Engineers are very generous because they tend to give their money or simply their time to charities and organizations often. Mr. Lwin, a nuclear engineer comments, “[Engineers I know] tend to consider charitable organizations that are involved ineducation and international development. Some examples are Teach for America, Chicago Lights, International Red Cross, Engineers Without Borders and the United Nations Development Program (UNDP).”Engineers tend to give to charities or organizations that mean something to them. They give to people they feel are in need or have impacted them in some extraordinary way.” Minority engineers also give generously to organizations and charities that mean something to them. “Two new studies show that blacks indeed contribute about the same percentage of their time and money as whites to their communities.” (Houston Chronicle.com) This includes doctors, lawyers, accountants, engineers, journalists, corporate managers, personnel directors, entrepreneurs, technicians and bureaucrats.
Socially Conscious Businesses There seems to be a growing trend among modern businesses; they are becoming more socially conscious. In the wake of the Occupy Wall Street protests it is easy to forget that some businesses are doing their part in aiding social causes. The manner in which businesses decide to give back to the greater community differs. Ranging from a basic sustainability model in which social and environmental causes are integrated into a business’ growth plans to a model in which the cause is integrated into the brand and when something is sold for profit, the profit partially benefits a specific cause. Cause branding has been particularly popular in the last decade. TOMS Shoes is known by most as the business that gives a pair of shoes to a child in need for every pair that is purchased. In the planning stages of the company, founder, Blake Mycoskie, tried to figure out a way to always have funding for his philanthropic endeavors. His solution was to start a forprofit company in which the proceeds would go to charity. Since the start of his business in 2006, over one million pairs of shoes have been provided to children in need. Businesses like TOMS also have a direct on effect on international markets. Sustainability is particularly important in dealing with the problem of food and water scarcity in developing countries. Steven Sonka, Director of the Archer Daniel Midlands Institute for the Prevention of Postharvest Loss at the University of Illinois, says that, “It is estimated that 1/3rd of the food produced in the world is wasted and doesn’t reach consumers. Our efforts [here at the ADM Institute] will focus on reducing losses, particularly in India and Brazil.” Businesses with socially conscious practices end up benefitting everyone in the end. Sonka, says that “[businesses can] significantly reduc[e] energy use and carbon emissions,” having a direct impact on the environment. No matter what the cause, socially conscious businesses are part of the business of the future.
Math and Science: Business and Engineering Problem-solving, arithmetic, and building gadgets are very appealing to hands-on learners. Wouldn’t it be cool to be able to use math to solve real-life problems and create good outcomes? Perhaps you are amazed at the existence of marvelous equipment used around the world and find an interest in how machinery and technology work, so why not start applying your interests and skills to productive hobbies and start considering an exciting career?
Brian states that managing people to meet the business objectives teaches a lot of skills that are similar to running your own small business. He says: “In my current job, I am constantly solving problems, except they are now business problems instead of technical problems”. Daily, he applies his structured engineering approaches for solutions to the tasks he has now. The Director of Engineering at a private firm that designs and sells power distribution systems, Mark Wise, studied mechanical engineering and started as technical project engineer before acquiring a management position at his current employer. He says: “Design decisions and product development is driven by the needs of the particular market. I needed to then understand the general principles of profit and loss and how it related to my products and the markets we sell into ... I enjoy creating new products and following them from conception to realization … I would definitely recommend Engineering as a career to pursue.”
If you love many different school subjects and enjoy learning about how things work, then maybe you’d enjoy being an engineer (A person who designs, builds, or maintains engines, machines, or public works) and can even combine math into a career in this field. Industrial engineering is where engineering meets business. It is an ideal profession for those who like to solve practical problems in a variety of working environments and develop systems to improve quality and productivity. A degree in this field enables you to work in various industries, from entertainment, manufacturing technology to completely different sectors such as, healthcare, finance, and food & beverage.
Being introduced to career trajectories of professionals and hearing about different career options can serve a good purpose to open your mind to new ideas for what to do in life. Brian progressed into a different career and Mark grew in his field and expanded his knowledge.They both enjoy what they do and didn’t stick to one position, so don’t let studying one thing and/or having a career that’s not what you want to keep be frightening.
According to the Bureau of Labor and Statistics, Industrial engineers make about $10,000 more in median annual salary than people in business and financial occupations. Additionally, among more than 16 engineering occupations, Industrial Engineers will make up 27% of new job growth by 2016—among the highest in growth for engineering occupations! (www.bls.gov, 2007). Before being a finance consultant, Brian Frizzel, received his undergraduate degree in electrical engineering and worked for Motorola. There he began working to face business problems and developing management skills and sought completing a Masters of Business Administration degree.
Start familiarizing yourself with careers that involve what you like to do and have a talent for. What better than to get to college knowing you’ll love to do what you study and have chosen wisely for a reliable and secure future?
Maribel Arellano 10
Saving Abroad International travel can be very expensive. One must cover the cost of paying for a passport, buying a plane ticket, purchasing food daily, and securing housing while overseas. The expense of studying overseas can keep many students from seizing the opportunity to study abroad. According to Matador Pulse, only one percent of American students study abroad while in school. These are dismal when compared with the study abroad rates of other students in other countries. For every ten students in China who come to America for school, only one American student goes to China to study. Jane Lu, head of the Confucius Institute at Walter Payton College Prep, emphasizes the importance of students studying abroad during their high school years, “When students spend their school breaks in a different country they are have an vadvantage over their peers because they are consciously practicing their second language around native speakers. They are able to build confidence”. Government monetary aid is beginning to tunnel through the Chicago Public School system to relieve students of the financial burden of traveling abroad and to encourage more students to go abroad. With these free trips, students are able to expand their knowledge and understanding of world language and cultures without the burden of financial debt. The U.S. State Department allocates money to high school programs in the aims of sending students overseas to master a language or learn about a new concept in a different environment. The 100,000 Strong Initiative by the State Department focuses on developing the U.S. - China relationship by sending more American students to study in China. This program uses private-sector philanthropic support to direct funds to existing U.S.-China educational exchange programs. Yearly, the State Department gives $68 million to different programs across the nation. “Studying abroad without the stress of paying for it differently makes the learning experience more rewarding,” Finn Brennan-Arffmann, a participant in the NSYLI merit-based program, said. Although traveling abroad might prevent students from securing a summer jobs, the immersion experiences can assist a student in the future when obtaining jobs that reap healthy salaries. It opens students’ eyes to the many cultures and customs around the word while building their resume due to the unique education experience they are exposed to overseas.
Jordyn Holman 11
See Chicago For Less
Here are some suggestions to make a financial plan for your entertainment needs: 1) You can always do the old “save a dollar a day.” Amy Besida, a guidance counselor at Chicago Talent Development Charter School, who explores awesome places in Chicago suggests that, “saving ten dollars a week and planning ahead of time” is an asset to budgeting for entertainment. After three weeks, you’ll be able to see a sporting event. 2) Another way to budget is by getting a savings account that has interest. You probably will only need to put around 25 dollars in at first as a minimum deposit, and it’ll progress over time, depending on what bank you’re with. 3) Finally, you should use your resources wisely. Libraries, public transportation, and other useful resources help you to save money on unnecessary things. As Ms. Besida says, “Be resourceful. Take advantage of resources”.
There are lots of great places to be in Chicago. People love to go on cruises, watch sports events, and visit museums. Each year, over 28 million tourists visit Chicago and spend over 10 billion dollars! (ExploreChicago.org – Chicago Office of Tourism) Millions of people spend a lot of money, which could lead them to have financial problems. But how can you can be entertained on a budget?
According to explorechicago.org, the Chicago Culture Center is free of admission. There you can “Gaze at the world’s largest Tiffany stained-glass dome, as well as beautifully ornate multi-colored mosaics, marble and molding during guided architectural tours of the Chicago Cultural Center.” Visit ChooseChicago.com and search on free museum days.
Here are two options for entertainment at a range of prices: 1) Cruises are not a common thing that people getting a low income consider because most do not know how to budget. A ticket to a cruise is only 36 dollars. If you cut back on spending 3-5 dollars on snacks a day, in 7-12 days you’ll have enough money for a cruise. 2) Chicagoans also love to support their sports teams! But, some find it difficult to find the money to attend the games. However, Bulls tickets aren’t very expensive. They range from about $10-$20! There’s no need for budgeting there.
Whatever you’re in the mood for, there is something in Chicago, without expensive prices. Remember, the most expensive places aren’t always the most entertaining places!
Then we have museums, most museums in Chicago are free on specific days. You just need to find the specific days. There are different types of museums, modern art museums, the Shedd Aquarium, and the Lincoln Park zoo.
How Much Does it Cost to Have a Pet? When making the decision to have a pet in the family, many factors have to be considered. First, you need to decide what type of animal you want to own. Next, it is important to make sure you price several different animals before you decide on one. This is important because you want to make sure that you get the best pet for the lowest cost. Make sure you check a variety of pet stores before you make your purchase. After you find the pet you want, you need to consider how much it might cost for veterinarian expenses. Some costs can be very high. For example, “A pet’s torn knee ligament costs an average of $1578,” says a June 2011 analysis of claims filed with Veterinary Pet Insurance Co., which insures 485,000 pets in the United States and compiled a list of the 10 most expensive pet injuries (www.msnbc.com). Take the example of Julie Scheitlin, a pet owner from Illinois. Julie once broke a glass in the kitchen near her dog and he licked up some of the residue. She “rushed her dog to the emergency vet, they did an x-ray and found 3 glass pieces. They had to cut him open and take the glass out of his stomach in an emergency surgery. He had to stay at the emergency vet for 3-4 days recovering and then had to go back to the vet to have the 20 some stitches removed. The total cost was about $2,450!” One thing that any pet owner needs to consider is the cost related to the food and other pet expenses. Budget your money so that you can provide food and other expenses for your pet. The chart below outlines some costs associated with owning a pet. This will help you with your budget. The biggest thing you can do to save money is to arm yourself with information. Familiarize yourself with your pet so that you know what’s normal and what isn’t for basic care. If your pet seems to be acting strangely, doesn’t seem to feel well, or you find a lump or bump that wasn’t there before - you should know. According to the Wall Street Journal, a routine doctor and surgical visit for dogs costs $655. When considering whether or not to have a pet in the family, many responsibilities have to be faced. Expenses should be focused on. Pets are a big step, and you have to be committed to owning one. You have to feed it, bond with it, and provide for its needs. Although having a pet can be a fun thing, it’s a very big step to take.
Edna Patterson Costs Annual Costs Food Recurring Medical Litter Toys/Treats License Health Insurance Misc. Annual Total Capital Costs Spay/Neuter Other initial medical
Notes Small Dog
Medium Large Dog Dog
$10 $25 $15
Collar/Leash Litter Box Scratching Post Cage Carrier Bag Crate Aquarium Eqpt. 6 Training Class Capital Total Special Costs Long Hair Groom First Year Total
Small Mammal $50
Small Bird $75
$25 $100 $40
Cars: The Full Guide
Cars are the most used vehicle for transportation. Today there can be a car found on every block. From trucks, small cars, big cars, hybrids, electric cars, and supercar.
Fast cars have good performance features like a bigger engine, transmission, turbo tires and can range in price from $30,000 to over $100,000 (motortrend.com). Hybrids get better mileage and are earth friendly but will have small engines and will go at slower speeds. Hybrids range in price from just under $20,000 to almost $100,000.
The car was invented in 1672, but it wasn’t until 1855 that it was able to carry passengers. Over time as people changed, the vehicles had to change as well so cars could be sold to young people and old people as well. Manufacturers make concept cars, prototypes and designs before they create the cars you see today.
Many people like having their own personalized vehicle different from everyone else and fitting it to their own personality. But the manufacturer doesn’t know what you like and can’t always come out with the perfect car for you. This is why people have made customs shops for customizing the body, paint, rims and adding vinyls to represent themselves. This can be expensive though as high end custom paint jobs can run $5,000 to $20,000.
The decision to purchase a new car has several responsibilities. Cars are expensive. The average cost of a new car in 2011 was $29,817 according to TrueCar.com an industry research company. The description of costs for a new car will not only include the car note describing your payment for your auto loan, but it will also include miles per a gallon (mpg), warranty, insurance and maintenance information.
Conclusion So the car started as a steam box with one seat and couldn’t even go far, but it was transformed to a slick, fast, powerful vehicle would have never been imagined in the old days.
Next, you have to think of what you want under the hood. You might want a fast car or you might want a small car that gets a lot of miles per a gallon like or even a hybrid.
Review of Books By Jai
Percy Jackson & Rick Riordin’s Camp Half Blood Book Synopsis: Percy Jackson has no idea of what kind of power he possesses. Even when he was a baby weird things were attracted to him like the snake that he choked to death in his crib or the time he thought of what would happen on if he could take a swim with a shark and then all of a sudden his whole class was in the shark tank. But, even with all this amazing stuff happening around him, he still has a really bad life. He gets picked on by bullies and made fun of by his classmates. But, when he goes to camp, he finds out who he truly is and the truth about his REAL FATHER!
New Year, New Read, New You
Overall review: The books in this series are amazing. They will keep you reading and hooked because of the non-stop action and great comedy. You won’t be able to stop reading or be able to put them down. Also, they teach you a little bit of Greek mythology. You’ll be learning and be entertained at the same time!
If you are looking to start off 2012 with a new book, spend your hard-earned cash on one of these picks; in exchange for a mere $15, you will receive the inspiration needed to make the New Year your Best Year: Outliers by Malcolm Gladwell Funny, insightful, and motivating, Gladwell discusses what the Beatles, Michael Jordan, and Bill Gates all have in common as he unlocks the key to success—it is more attainable than you think.
These books are definitely worth your money. After you read the first book, you definitely have to read the series. (There are five books total.) How to Get the Series for Less: I recommend getting a box set and ordering it from Amazon. Amazon generally has cheaper prices than physical stores and also allows people to sell their own used books online. Right now, the five-book box set can be purchased for about $20. If you can’t afford it at Amazon you can check it out at your local library as well. You will not be disappointed.
The 7 Habits of Highly Effective Teens by Sean Covey Covey’s witty sense of humor shines brightly as he guides his teenaged readers through steps that will allow for great achievement. You will learn to boost your confidence, deal with stress, and develop into the best version of yourself. A Long Walk to Freedom by Nelson Mandela In his informative and inspirational autobiography, South African leader Nelson Mandela reflects on his iconic role in ending institutionalized segregation (called apartheid) in his homeland. “Mandela transforms himself from a symbol to a man, and instills the idea that ordinary citizens are capable of extraordinary accomplishments” (Grant Beard, Stanford University ‘14).
Well this is J: see ya, wouldn’t want to read ya.
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Night by Elie Wiesel Wiesel is triumphant in this Holocaust memoir, in which he recalls his experience as a Jewish boy entangled in the 20th century tragedy. Despite the unimaginable loss endured, “Night will motivate you to overcome every obstacle that stands in your way” (Matthew Cullen, Walter Payton ‘13). Wiesel’s life is an incontrovertible victory over the forces that destroyed his childhood.
Solve the Cryptogram Step 1 = Answer the questions below from the On the Money article to uncover letters to solve the hidden phrase. Step 2 = Solve the hidden phrase.
For Letter 12) On page 4, Jada recommends looking for a _ _ _ _ _ _ _ no or low fees.
_ _ _ _ _ _ _ with
For Letter 8) On page 5, Jhalil notes that almost 9 in 10 teen girls are worried about _ _ _ _ _.
12 = Yellow Letter __ 8 = Yellow Letter __ 24 = Yellow Letter __
For Letter 24) On page 12, Darius found that 28 million people _ _ _ _ _ what city each year? _____________.
21 = Yellow Letter __
For Letter 21) On page 13, average food costs for large _ _ _ _ are $_ _ _ per year.
6 = Yellow Letter __
For Letter 6) On page 6, Alex tells us that _ _ _ _ _ funds are a selected group of _ _ _ _ _ _. For Letter 22) Nina discusses Engineers giving to different _ _ _ _ _ _ _ _ _.
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