On the Money Spring 2015

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Make the Most Of Your Summer Job







TRENATI BAKER Junior, Whitney Young High School SUMAYYA BISSERET-MARTINEZ Freshman, Monarch Rich JENNIFER BAEZA Junior, Phoenix Military Academy CHRISTINA BUTLER Kenwood Academy TILEA CARTER Junior, Marine Math and Science YETUNDE DOSU Senior, St. Ignatius High School STEPHANIE DUNNING Senior, Kenwood Academy DYLAN PETTIS Junior, Westinghouse Academy NIA HILL Junior, Whitney Young High School JAVION PRICE Junior, Westinghouse Academy LAUREN KELLEY Sophomore, Westinghouse Academy CLARK LEWIS Senior, Whitney Young High School KALIAH LITTLE Junior, Whitney Young High School SAMANTHA MALLETT Junior, Lane Tech High School KENDALL NELSON Junior, Urban Prep Bronzeville ANGELINA PEREZ Senior, Bowlingbrook High School HILARY PHAM Junior, Whitney Young High School CRYSTAL STONEWALL Senior, Chicago H. S. for Agricultural Science JOANIE WILEY Senior, De La Salle KHADIJA WILLIAMS Senior, Johnson College Prep

Letter from the City Treasurer, Kurt Summers PAGE 4 Profile of a Young Entrepreneur: David Borom PAGE 6 Don’t Let Fear Stop You!/ Let’s Build a Business PAGE 8

Dress for Success! PAGE 10

JROTC: Entrepreneurship & Community Leadership

FINANCE, ECONOMICS & CAREER EDUCATION PAGE 12 Film Degrees/ A Career in Arts PAGE 14 Working as an Election Judge/ Law as a Future Career PAGE 16 Budgeting Success in High School PAGE 18

The Importance of Scholarships

ENTREPRENEURSHIP PAGE 5 Artists & Entrepreneurs: DLOW and Patterson PAGE 7 Social Entrepreneurs/ Marketing for Entrepreneurs PAGE 9 Vegetarians/ Recipe for Business Success

PAGE 11 Networking in High School PAGE 13 Cost of Technology/ Technology and Healthcare PAGE 15 Cost of College Abroad/ Balancing Your Life PAGE 17 POSSE Scholarship/ Financial Literacy Involved Schools PAGE 19 Importance of CCAP/ Cost of Raising a Child

ABOUT ON THE MONEY On the Money magazine is written by teens for other teens. On the Money covers entrepreneurship, business, finance, credit, saving and more... providing real world experiences and resources that can help students learn to meet their business, money and career goals. On the Money is provided by the Economic Awareness Council through collaboration with Chicago Public Library, DePaul University, the Office of the City Treasurer of Chicago, and True Star Magazine.

On the Money Magazine would like to thank HSBC Bank, the Coleman Foundation, the Office of the City Treasurer of Chicago, State Farm Insurance Companies®, U.S. Bank, Republic Bank, FirstMerit Bank, Guaranty Bank, MB Financial and TCF Bank for their sponsorship of this issue.

ABOUT THE EAC The Economic Awareness Council (EAC) is a financial education non-profit organization inprogram attendance of over 20,000 each year.


Magazine design and layout by Jessica Alessi

Letter from the City Treasurer of Chicago Dear On The Money readers, As we gear up for the warmer months ahead, I want you to start thinking about smart money management with the paychecks you will bring home from your summer jobs. If you work hard, you deserve to have some of that money saved up for bigger purchases down the line! Now is the perfect time to build the financial habits that will help you succeed in college and your career. Not sure where to start? Here are a few easy things you can do: - Open a bank account: A bank account gives you a safe way to keep and save your money. My office has made it super easy for you to find a free or low-cost bank account. Check out BankOnChicago.org to find a bank that’s close to you and meets your needs. - Sign up for direct deposit: Did you know that using check cashers can cost you $65 a month? By signing up for direct deposit, your employer will automatically deposit your paycheck in your bank account, saving you the hassle (and cost!) of having to cash your check. Learn more about direct deposit at Plan2Achieve.org - Create a budget and save: Think ahead about the expenses and goals that you might have in the future. I also recommend starting an emergency fund, so that you’re prepared for anything that comes your way. Visit www.practicalmoneyskills.com for helpful budgeting calculators to help get you started. These steps are easy to do and will help you get most out of your paycheck, setting you up for a future of financial success. Interested in learning more about my office or a future in finance? You can always reach me at city.treasurer@cityofchicago.org. Enjoy your summer!

Kurt Summers, City Treasurer of Chicago

Sponsored by

Meet the New Chicago City Treasurer Kurt Summers, Jr.: A Financial Literacy Advocate & Chicago Public School Graduate By: Kaliah Little Did you know that the Chicago City Treasurer, Kurt Summers, Jr., is actually a Chicago Public School graduate? He graduated from Whitney M. Young Magnet High school. As City Treasurer, Treasurer Summers is able to be an advocate for is teen financial literacy in the very city where he went to school. Financial literacy is ability to understand how money works in the world. This includes how someone earns money, how to manage it, how to make investments and how to donate money to help others. Treasurer Summers believes financial literacy is important amongst youth because it impacts a lot of decisions we make in life. This is especially important for teens because in the future they will plan to work and may likely go to college. They will need to be prepared for these financial decisions. Treasurer Summers believes that learning about money and building positive financial habits will help people to be able to prioritize and make better decisions. This, in turn, will make them wiser and better prepared as adults. Treasurer Summers is leading an effort in which the Office of the City Treasurer of Chicago, Bank On Chicago, the Department of Family and Support Services, the Economic Awareness Council (the producer of On the Money Magazine), Young Illinois Saves and America Saves have all partnered to help insure that all youth employees have an opportunity to learn how to manage their money this summer, to bank and to save automatically with direct deposit. Chicago was also just named a model city for financial education by the Presidents Council for Financial Capability.


Learn more about this effort at Plan2Achieve.org or BankOnChicago.org. Apply for One Summer Chicago at www.OneSummerChicago.org.

On the Money: Entrepreneurship Through the On the Money Entrepreneurship program, interns are developing their own business plans, running the business behind On the Money Magazine and leading entrepreneurship education programs across Chicago.

Profile of a Young Entreprenuer:

David Borom

By: Angelina Perez

David Borom, a former instructor at On the Money, was born into a normal middle class family on the South side of Chicago. His parents got divorced when he seven, and almost immediately after, his mother was laid off from her job and things got pretty hard. David added, “Spending so much time in a poverty stricken environment has both positive and negative effects on a child, but you can decide whether you allow it to make or break you.” David Borom and On the Money Interns

Another thing that helped David get through the tough times was his curiosity. He recalled that as a child there wasn’t much entertainment in his house. There were books, an outdated Nintendo with 2-3 games, paper and writing utensils. “With those options, you end up reading and writing a lot… the reading and writing helped me to think differently. Books can take you anywhere. The things I experienced on the pages of those books made me better. Not only did it keep my imagination strong, but I became more emotionally intelligent and disciplined.” David’s first business was a child care agency, or a babysitters club. He had started babysitting … sometimes for really long periods of time. Yet he was only being paid a flat rate, usually at the parent’s discretion, which he felt was unfair. So, he thought of a business name (Little Miracle Child Care Agency), came up with a business model, charging $10-20 per hour… he’d take $5 from every hour for himself. “When starting the business … I wasn’t sure that people would buy into it because I was so young. This was one of my fears going into each of my ventures throughout high school. But, like other kids that age, money was a big motivating factor for me. My earning potential outweighed the doubt…” During his junior year of high school, David went to a business camp in New York hosted by NFTE (Network for Teaching Entrepreneurship). “Originally, my business partner/friend was supposed to go, but at the last minute, he couldn’t attend. Up until that point, I was the business/strategy guy and he was the voice of the business. I was comfortable with that. After two weeks, I came back from New York a different person. Hopping on a plane and going to New York, being forced to do things I wasn’t comfortable doing, made me better and changed my life. Everything that I discovered within myself in New York had always been there. It was just hidden under so much fear and self-doubt that I couldn’t access it. Now I can.”

On the Money would like to thank the Coleman Foundation for their support of entrepreneurship education.



DLOW: More than the Music Musician and Entrepreneur By: Kendall Nelson Everyone knows the DLOW shuffle dance, but who is DLOW and what is his passion? I had an opportunity to meet Darrion Simmons (a.k.a. DLOW) and interview him about his passion for dance, which he’s turned into a business. After his dance video went viral, DLOW went from just an average Chicago teen to a regional celebrity. He has short of 100,000 followers on Instagram, and he inspires other young people to follow their passion and be whatever they want to be in life. I asked DLOW about his entrepreneurial life, and you may think that he received most of his money from the video; however, that is not true. DLOW has built a business which includes parties, DJ services and using “the D.L.O.W. theory, which stands for Determination, Loyalty, Optimistic, and a Willingness to Learn.” DLOW even has a mission called DLOW Cares which is a foundation that helps other young people achieve their dreams regardless of what bad things happened throughout their life already. With DLOW Cares, DLOW also sells t-shirts and is of course focusing on releasing new songs. DLOW mentioned that his manager and his team help him manage his money correctly. They give him financial advice so he can make financially responsible decisions when it comes to his budget. He also mentioned that it is important to save and to not focus on spending all the time. DLOW makes a great point! By having a financial advisor, you can get help to save money and plan for generations to come. DLOW is an entrepreneur and his advice to take away is, even if you become a famous, it is still important for you to budget wisely.

Local Photographer & Entrepreneur Josh Patterson Shares His Advice: Giving Your Business Your Best “Shot”! By: Trenati Baker Interested in starting your own photography business, but scared you can’t? Well, take it from Joshua Patterson, you can! Joshua Patterson was one of the panelists at the Young Chicago Saves Conference, hosted by the Economic Awareness Council, Young Illinois Saves and Chicago Public Library. At the Young Chicago Saves conference, part of America Saves Week 2015, Patterson and other entrepreneurs gave high school students vital advice about their finances as well as starting and managing a business. Patterson started out as a photographer for his high school yearbook where he took pictures of school events. As his love for photography grew, he made goals of buying his own equipment and getting a professional camera. After receiving a grant and doing a lot of fundraising, Patterson reached his goal. He later went on to Illinois Center for Broadcasting, where he began branding his business, networking, and freelancing. Today, Patterson is not only a talented photographer; he actually owns his own business, Platinum Visions Photography. His work includes shooting at the Chicago Football Classic and charity events among highlights of his experiences. Patterson has also taught a videography and photography program at Oakwood Shores Community Life where some of his students’ work was published. Patterson says that time management is a key to being an entrepreneur, and he advises people to never give up. “Keep striving and keep going because you never know…” According to Patterson, in order to be successful you must, “Be outspoken and [be] a business person at all times, [always] making connections. Be a go getter and always believe in your dreams”.



Dont Let Fear Stop You:

Becoming an Enrepreneur

By: Angelina Perez

Many times people put their dreams on hold because of fear of failure. “I think that’s a lot of people’s problem, they are afraid to fail and other people are afraid for them to fail,” says David Borom, a former instructor of On The Money and an entrepreneur. People are scared of taking risks and stepping out of what is expected of them because of the possibility that they might fail. Students are also scared of applying for that school or scholarship, not wanting to take the chance of failing. “I think that failure is looked at as a very negative thing, but actually I think it’s the best thing ever, because either you do it, you fail, and you learn from your mistakes or you do it and you succeed and everything works out,” shares David. David has started three businesses and entered several business competitions. He has won some and lost some, both in terms of competitions and money, but he has learned from each experience. For example, David says of one second place finish, “Though we technically lost, we thought we had a winning plan, and we had enough confidence to put our plan to work.” David also describes just how much he learned from the times he lost, “I learned about creating value for everyone, not just myself. This way customers will buy from you, and people will want to work with you. I learned about the importance of creating and properly utilizing a team, I took on the mindset that everyone works with me, no one works for me. We are all partners. I learned the importance of loving your product or service. If you don’t love it, it’ll be hard to make others love it. Also, when things get tough, the passion will propel you further.” How many companies would not be around today if their owners had been too scared of failing and instead listened to others people who discouraged them? Basically zero. All entrepreneurs took a risk when starting up their company. For instance, Jan Koum and Brain Acton, the founders of Whatsapp, a mobile texting app that now has over 700 million monthly users, did not let the fact that they had been rejected from jobs at Facebook and Twitter keep them from thinking they were good enough to start their own business. To those struggling with overcoming adversities and fear David advises, “Just drown out the noise and just go… you may actually fail the first time, and the second time, but it’s worth it, especially with what you really want to do. Keep going, have passion, chase your own dream”.

Let’s Build a Business!

By: Khadija Williams I am a 17 year old entrepreneur! Last summer I was given the opportunity to travel to Costa Rica for 8 days this upcoming April. The only problem is the fact that I had to raise $2,000. Where could a 17 year old make money like that?! …I started to think to myself why not sell something.

Tip 1: You want to come up with the simplest way to sell something WITHOUT being a burden on others. Thus, I came up with my pen idea! It was something I could produce. Tip 2: Make sure your design is feasible and worth your buck! If you would not buy it, what makes you think that somebody else will? Ask yourself key questions such as, ‘Who would buy this/Who am I trying to attract? How is this different from other things?’ Tip 3: Make sure that your plan meets a real need! For example, I hate letting somebody borrow my pens and I never get them back! With my pen designs it is hard to lose your pen as the tape puts on added weight and the design makes it easy to claim. Other young entrepreneurs also have similar tips. A young, local entrepreneur named Zorian has an app, “Bracket Help”. Here is what he had to say. “I started an app that categorizes the players in March Madness through their regions.” His mom told him he should make his stats available for people to buy. He sold his app, and he earned almost triple his investment! His tip is that if you think you have an idea and you think people will like it then go with it. Put your whole heart into it and believe in yourself. Similarly, Brandon Counts, the ‘Mac-Magician’, says, “In 6th grade, I started helping many of my parents’ friends with their computer and phone problems… so I came up with a name, Mac-Magician, designed a website and put flyers all around town. My business is doing very well, so well that sometimes I have to turn away work.... The most important advice I have for other young entrepreneurs is to never give up. Things may not work out right away, but if you are persistent and focused you can make it happen.”



Young, Ambitious, & Beautiful

Non-profit, Social Entrepreneurs Give Back through Education By: Trenati Baker Young, Ambitious, and Beautiful (Y.A.B.) is a non-profit organization located in Chicago and Detroit that supports and encourages women of color to expand their academic horizons and careers. The co-founders of Y.A.B. - Courtney Griffin, Lauren Bealore, and Brittany Daisy Sutton - are all college-educated women of color who excel in their careers. According to these Y.A.B. co-founders, “a lack of promotion of female entrepreneurship for women of color” led them to launch the organization. They decided to be “catalysts by pushing the envelope and being a role model for young girls.” Y.A.B. reaches a variety of ages of women of color. The biggest obstacles the cofounders have had to overcome in the process of establishing Y.A.B was building membership, getting people to believe in their organization, and balancing their work with their own daily lives. The founders’ best experience was the women’s conference they held at Moos Elementary in Chicago where they presented to young girls ideas for planning dreams, developing business plans, being successful, and more. “Making it three years [as an organization] is an amazing feeling, it is very encouraging that three women can get on the phone, make a plan and their visions come true”, said Bealore. Their advice to other aspiring organization founders is that, “Quality is better than quantity, stick to your original vision, go above and beyond, and step outside of your comfort zone. Develop your own niche and remember that is no such thing as a bad idea.” As Griffin, Bealore, and Sutton expand their organization, they reach more women and inspire more to live their lives... Young, Ambitious, and Beautifully.

Strategies for Successful Marketing: An Interview with Dignitas

By: Kaliah Little

What makes an entrepreneur successful – especially with marketing? According to Dignitas’ Nicholas Delgado, it is about knowing and sharing the: “Why, How and What”. Delgado is the Chief Wealth Officer of the company Dignitas. Dignitas is a wealth management company that also specializes in teaching up and coming business clients how to create a successful business. This is done with the help of a few steps. First, the company starts with getting advice and the perspective of different entrepreneurs. Then the company receives guidance regarding financials and taxes for the business. Lastly, Dignitas teaches planning and preparation to help build the business. In working with entrepreneurs to improve their marketing, Delgado emphasizes that it is important to understand and demonstrate the “Why, How and What” and in that order because these key things will help a business or product to appeal to potential customers. Delgado suggests to start with “the why” to lure the consumer in by demonstrating a pain (or negative experience they might relate to that the business will solve) and OTM Interns with Dignitas’ Nicholas Delgado the gain (how the business will solve the problem). Delgado emphasizes that it is important to first appeal to the customer with the why because by showing the pain of the situation you give the potential customer something to relate to. Then you express what they can potentially gain from your business or your product and your claims to help ease their “pain”. Next, you share “how” the product changes how you feel because of how the problem has been solved. Last, you share exactly “what” the details of the business or product are. With all these steps, you will be successful in marketing as an entrepreneur. 7


Dress for Success:

Finding Fashionable Clothing for Employees and Entrepreneurs By: Yetunde Dosu What makes someone completely dressed for the workplace? Is it confidence, a friendly smile or the perfect pair of shoes? We can all agree that one thing definitely needed is professional clothing. Nicole Wheatley, a fashion entrepreneur, agreed and stated, “Proper business attire is essential in professional settings.” This can be especially true if you are an entrepreneur and earning respect with a business you starting. Says Nicole, “If people want to be taken serious and respected for their work, they should represent this in the way they dress, act and think in all work related environments.” When it comes to finding clothes for the workplace, it can often be difficult for teens (both guys and girls) to find clothing that they feel is both fashionable and appropriate for work, and affordable. Entrepreneur Maryam Garba, who founded a clothing line geared at fashionable, affordable work clothing, with the tagline “Clothes that make you excited about getting dressed for work,” said that her clothing site enables people - including teens - to find affordable clothing for the workplace. So whether you are looking for employment for the summer or starting your own business, here is a list of Do’s and Don’ts for Dressing for Success:



•Wear appropriate clothing

•Wear particularly tight or oversized clothing

•Try to buy attire in your price range

•Attract unnecessary or unwanted attention with your attire (halter tops, shorts or sandals that make you look like you’re headed to the beach rather than ready to take a project seriously)

•Remain true to your identity and wear clothing that makes you who you are (but still fits the culture of your workplace)

•Wear clothing that makes you uncomfortable



Economic Impacts of a Vegetarian Diet

By: Kaliah Little

Did you know that 3.2% of U.S. adults, or 7.3 million people, follow a vegetarian-based diet? A vegetarian is a person who does not eat meat, and sometimes other animal products. A common vegetarian diet consists of 80% carbs, 10% protein and 10% fat. According to vegetarian Marcus Davis, his diet consists of multivitamins once a day, different trail mixes, fruits vegetables, pasta, and dairy products like milk and cheese. He also eats chicken once a week. He spends $60 on average for a two week period. His diet changed because prior to being vegetarian he’d buy fast food frequently and it wouldn’t last him very long, so he’d buy more food. Currently, he purchases food that will nourish the body and help him to remain fuller for longer periods of time. As a result, Davis spends less money on groceries. There are also restaurant options for vegetarian, meaning you can still eat out and stick to your vegetarian diet. According to Chef Gary Baca, more restaurants are prioritizing vegetarian options now than even 5 years ago. Baca says, “It is important to show vegetarian and gluten free diners that restaurants and businesses care as much about the food they offer them as the rest of the guests.” According to the United States Department of Agriculture over a two week period the average cost of groceries is $140. This price is due to the amount of processed food that an omnivorous diet (both vegetables and meant) contains. As stated by the Center for Disease Control and Prevention, the average American diet includes about 52% carbs, 15% protein, and 33% fat. While holding back on meat may be a hard task to complete, it is feasible to go on a vegetarian diet. You might event save money!

More than Cooking? How Restaurateurs Combine the Roles of Chef and Entrepreneur or Business Person

Interview with Carmine’s Gary Baca Being a chef is more than just cooking. So in order to be successful, you have to learn about so many other parts of running a business, like marketing and advertising. You have to know how to deal with an unhappy guest or unhappy employee. You have to become an expert about heating and air conditioning, plumbing, equipment maintenance and on and on and on. All the while, it is critical to stay on top of current trends in food and what is available from our vendors year around vs. seasonally. And most of all you have to be able to cook great food, that, in big high volume restaurants like Carmine’s, appeals to a wide range of people but is still interesting and unique to your own restaurant. The best way to balance these challenges is to develop people [around you] to be able to execute and follow through on the various tasks. From maintenance to cooking and running a busy shift, no one can do all that alone so I have always enjoyed teaching those around me.



JROTC Encourages Skills Needed for Entrepreneurship & Community Leadership By: Jennifer Baeza Many parents think that when their child participates in the JROTC program or military school, they will automatically be sent to the U.S. Military. What they do not understand is that the JROTC program can open doorways to becoming a successful entrepreneur as well.

Starting with the Fall 2015 semester, Chicago Public High School graduates with a 3.0 GPA who test college-ready in math and English will be able to pursue an associate degree at City Colleges of Chicago at no cost – free tuition, fees and books.

An entrepreneur is someone who manages a small business and expands it over time. Entrepreneurs are known to be inspirational leaders, positive role models, and drivers of change. By this notion, Col. Kelley, former CPS military academies coordinator, is considered a successful entrepreneur. Currently there are 10,988 students around Chicago participating in the JROTC program. Col. Kelley has dedicated his time to CPS for twelve years to help grow this program and is soon retiring.

What does the scholarship cover? After application of federal and state financial aid, City Colleges will provide waivers for all tuition, fees, and books for three years or until the completion of an associate degree, whichever comes first.

“By joining JROTC, there are a wide variety of programs in their schools [for students]. In JROTC, we offer many extracurricular activities such as summer camp, orienteering, archery, drill team and several others,” says Col. Kelley. Col. Kelley has also seen the military academies expand. Currently, they are serving 6 new military academies as well as JROTC programs in local high schools. Just like an entrepreneur would expand their business, Col. Kelley helped expand more military academies around the City of Chicago.

Who is eligible to benefit from this program? City Colleges will provide this free college opportunity for Chicago Public High School students who graduate in Spring 2015 or later and who meet three requirements: 1. Graduates from a CPS high school with a 3.0 or higher GPA 2. Places into college-level Math and English via COMPASS or the ACT (score of 21 in math and English) 3. Enrolls in one of CCC’s structured, relevant pathways

Following in his footsteps is another influential civil servant and entrepreneur, Sergeant First Class Powell, who has experienced the growth of the academies from the start. Sergeant Powell has been involved in the academy for many years and has seen it through difficult times including fighting and a ranking of the second worst school in the city. “A good leader should have the leadership to control their own lifestyle,” said Sergeant Powell who has helped improve the situation at the academy.

This includes undocumented students and students at CPS charter schools.

How long is this scholarship good for? CPS graduates will have three years to use the funds starting in the first fall semester after their CPS graduation. Students with a CPS GPA of 3.0 who test into remediation at CCC will be able to retest during their first year and, if they test college-ready, will be eligible for the remaining scholarship period.

Jocelyn Cruz and Alexis Garcia have had experience participating in a military academy for the past three years. During their time at the academy, they have witnessed tremendous growth in the quality of the academy and have been exposed to extraordinary opportunities. “It’s like a normal high school only with a uniform every day. It teaches you leadership, career planning and how to become a better citizen,” said junior Jocelyn Cruz.

For more information:


In participating in the JROTC program, students earn the leadership qualities on how to become a successful entrepreneur, successful community leader and a successful human being.




On the Money: Finance, Economics, & Career Education Networking in High School By: Stephanie Dunning Making good connections during high school can have a big impact in the future. There are a plethora of opportunities that are available to students which can potentially lead them to the positive places and people to influence their success. Networking is a powerful skill that is needed to take advantage of these opportunities.

Apply to After School Matters at www.AfterSchoolMatters.org Learn more about the Chicago Summer Business Institute at www.ChicagoBusinessInstitute.com

The U.S Bureau of Labor states that “70% of all jobs are found through networking,” and this concept also applies to high school students. Networking can be used to help obtain internships, summer jobs as well as college recommendations. After School Matters Board Chair and President of Ariel Investments, Mellody Hobson stated, “When applying for college, schools look to extracurricular involvement as a way to gauge leadership skills, time management, and commitment (among other things).” Students’ success depends on how involved they are in non-academic activities such as internships, work, sports or clubs. Sometimes doing more leads to getting more and, with networking, sometimes it’s knowing more people and the quality of those connections that matters the most. Chicago Public School Senior, Angelina Perez, recommends networking in high school by talking to teachers, your principal and other administration. By connecting with these school professionals, they then give her advice and write recommendations. Students need to make themselves well known, if not in school then in the community, in clubs or programs. ASM Board Chair, Mellody Hobson described how ASM helps with this, “ASM offers teens the opportunity to interact with mentors and role models who can be instrumental in a student’s development. Our programs give teens the skills they need to identify these individuals in their community. Moreover, our programs provide a foundation that helps foster long-term relationships.” By mastering networking skills now, students will be better off in life. Today, networking both in person and electronically is important. “92% of US companies use social networks and media to find talent in 2012.” (US Bureau of Labor Statics). A popular site companies use right now is LinkedIn. Having an account during high school can help students network.

OTM intern, Khadija, networking at the Chicago Summer Business Institute

Executive Director Yolanda Quintana from the Chicago Summer Business Institute, a summer program that provides business experiences to Chicago students, says, “The key to successful networking is asking questions. Talk to your mentors about their experiences. As you begin to listen to others talk about their journeys, it allows you to form ideas about your own path.” There are many benefits from networking in high school. During these years a student can develop and nurture many useful connections that could be beneficial in the future. Take advantage of those opportunities while you can; it might make all the difference!



Are Film Degrees Worth the Investment? By: Samantha Mallett What are you going to do with a film degree? Is that going to pay the bills? Why not get a degree in something more “practical”? These are questions that I am bombarded with every time someone asks me about what I want to pursue in college. Fine Arts, or visual arts, majors are usually the most questioned majors due to the lack of stability in their job market and how the fine arts are an overpopulated field; but there have been plenty of people who have been successful in the fine arts. Being a film major offers “a deeper experience in both hands on as well as the study behind production” said Josh Patterson, who majored in Television and Film and is currently an entrepreneur, a director of photography and editor. If you invest time in an education, you will already have the recommended prerequisites. To succeed in the field, “[be].. creative, detail oriented, and have a background in editing software” (collegefactual.com). If you are still debating whether or not to major in the visual arts, do not fret. Many colleges offer a film minor, or for you to take film classes as electives. According to the Bureau of Labor Statistics, the median pay of producers and directors with a bachelors degree is $71,350 per year. How are some people able to make so much money in an “unpractical” field? One word, NETWORKING. Lesley Martinez Etherly, also a Film Major, gave helpful advice about networking in the film industry, “The more you build relationships with production crew or even local acting talent, the better the recommendations come. Also, when you do get those opportunities, make the best impression and show your hard work.” But, do NOT ask for souvenirs (i.e. On the Money would also like to pictures, autographs, etc.) “Production people are the people who work thank FirstMerit Bank, with big names all of the time and shouldn’t behave like fans.” However, MB Financial, Guaranty Bank, and do not worry; one day, people will be asking for your autograph too. TCF Bank for their sponsorhip of this issue.


A Career in Arts

By: Sumayya Bisseret-Martinez

Are you an actor, rapper, singer, or artist, and worried about your future? Don’t worry, you’re not the only one! Careers in the arts are often times financially unstable, and not as secure. For instance, according to the Bureau of Labor Statistics, lawyers have a 5% higher employment rate than musicians and lawyers and doctors make 30-50$ more an hour than multimedia artists and musicians. (BLS,2012). This may scare passionate teen artists from pursuing their dream field, but rest assured that there are options. A degree in arts isn’t the only option for young artist, you can always study art on your own and major in another field. “Ideally, I would like to major in acting, but history is my back up plan”, says Izzy, a sophomore and actress at Free Street Theater. “This is probably really superficial, but the money isn’t really always stable.” Nic Kay, a transdisciplinary artist, shared that “when embarking on a career in the arts, the information that most proved invaluable (for him) came from real life experience and mentorship. (He) interned, auditioned, work shopped and created work as a way to build a practice.” Fear is part of the job of an artist, and Nic Kay knows this first hand. “You are going to be SCARED. You are going to be terrified, but just know that at some point you are going to be glad you worked through it”, continues Nic. “Fear will lead you to believe that turning your back on passion is the most rational, safest and smartest way to move forward. Live without regret.” 12


Are We Paying Too Much for Technology? By: Javion Price

“Americans spend 17% of their monthly mortgage or rent on technology, according to a study by the American Institute of Certified Public Accountants released last year”(Richard Satran). People didn’t always purchase this much technology. Compared to twenty years ago technology was not used as much as it is today because there wasn’t as much to use. Technology is one of the most important resources used by mankind today. Yet some people tend to think that we over pay for this resource. Recently, I took an informal poll and asked individuals, “Did you feel like you were paying too much compared to 20 years ago? If so why?” Mrs. Gillian, a local graduate student, agreed that she was paying too much but noted that she had always found technology expensive. “[In the past], home computers were not as popular as they are today and a desktop computer was very expensive. It seems as though buying new, top-of-the-line technology in any year is very expensive”. Her interpretation on the cost of technology is interesting. Part of people’s perceptions may be their desire for the ‘top-of-the-line’ technology. Says a high school freshman, Sumayya who buys iPhone and cable TV [products & services], “everything I want tends to be high price based on the improvements they made [to the latest product].” Statistics actually show, in 1993 telephone services cost $657 and average after tax income was $31,890, so telephone related services cost 2.06% of after tax income. In contrast, in 2013 telephone services AND cell services were $1217. TOGETHER these services are just 2.25% of the $56,352 after tax income. The statistics display a two-sided theory on whether or not the amount of money you spend on technology is too much or if we are actually getting more technology for our money now.

Technology and Healthcare

Working Together Economically to Save Lives

By: Dylan Pettis

How do the technology and health fields synthesize into one? Many people would like to know the answer behind this mysterious question. Healthcare and technology actually depend on one another. According to Abby, a healthcare and technology consultant, technology is important for helping organizations in various ways. It helps keep data management in order and will help medical professionals to locate important information securely. Without the invention of technology, the functionality of doctors communicating with one another or even having accurate data wouldn’t be as dependable. To back this up Abby states, “Generally speaking, technology has an extremely positive effect on the health of patients”. This is an eye opener! Digging deeper into this issue, Abby explains, “widespread adoption of electronic health records has resulted in significant savings in health care costs as well as improved patient health and safety. In more and more healthcare facilities, patient files are being kept in databases that can be accessed from anywhere in the facility”. This means that since technology has increased, a significant improvement was built into healthcare facilities making work easier for both doctors and better for patients. This benefit is becoming more obvious to patients even students interested in pursuing a career in healthcare. One such student, Kaliah Little states, ‘Technolgy relates to health care because it gives a doctors a better outlook on what to do with their patients. For example, ultrasounds take care of the baby while still in development, and lipotropic scans could help keep the human body healthy while seeing the problems on the inside instead of guessing what is wrong and going through major problems on the outside”. Technology and healthcare work together to better people’s lives and this has a dramatic effect on everyday society. However, this is only the beginning. In coming years as technology advances, technology and healthcare will continue to make an even greater impact.




Working as a Student Election Judge By: Tilea Carter

Are you a current junior or senior? Do you have a 3.0 or better? If so you may qualify to be a student election judge. A student election judge is a judge who learns about the voting process and serves as an election judge at the polling places on Election Day. According to Mikva Challenge (www.mikvachallenge.org), 2,000+ students served as election judges for the primaries in November 2013. There are many jobs teens can do. Student election judges get to be a part of the action by helping, whether it’s passing out the ballots or checking people in. It is simple work and great for a resume. According to Mikva Challenge, 50% of alumni of our elections program continue to volunteer for political campaigns vs. 2% of 18-29 year-olds nationwide. An assistant coordinator for the summer fellow internship at Mikva Challenge stated, “These students really provide a service to their community. Voting turns the wheels of democracy, and these students work to make sure the most essential way of voicing your opinion is working well. It also exposes these students to people in their community and what those people care about.” A former student judge from Marine Leadership Academy commented, “I had fun participating in the election. It wasn’t rocket science work, and I got paid.” There are a lot of benefits to working elections you get paid, gain experience, and help build your network. If you want to be a part of this experience, visit www.mikvachallenge.org, go to the programs tabs and click ‘Elections in Action’ to see if you meet all the requirements listed on the page. If you do, then scroll down and click the sign up tab to summit your application for the most current election.” If there are no jobs posted, wait until the next election. Good luck!

Exploring Law as a Future Career By: Lauren Kelley

There are many goals that are needed to be accomplished throughout your life. My goal is to become a real estate attorney. However, I know that there is a huge process in becoming a lawyer. What steps can someone take if they want to be a lawyer, like I do? Step 1) Research the educational requirements. According to the Bureau of Labor Statistics website, www.bls.gov, becoming a lawyer usually takes: • 7 years of full-time study after high school—4 years undergraduate & 3 years of law school • Most states require lawyers complete a juris doctor (J.D.) degree from a law school accredited by the American Bar Association (ABA). Step 2) Research what it is like to be a lawyer. According to www.bls.gov, the median annual wage for lawyers was $113,530 and the job outlook is average (2012). Step 3) If you are serious about becoming a lawyer it is always best to go and ask people that are in the legal system for advice and such. I talked with Grant Riedesel, who has been an attorney in Chicago in corporate law for several years about what working in corporate law is really like. Mr. Riedesel commented, “The work as a lawyer can be interesting, but it can also be a little tedious at times. There are a lot of things you can do to make sure you stay interested and committed, but I do think it can be a challenge. The work load for lawyers is often pretty significant, so you have to make sure you’re up for the challenge!” Step 4) Consider contacting law offices or firms, or any legal organizations, for any volunteer programs. This exposure can be very helpful and beneficial for your future! Mr. Riedesel recommended, “If you think you may be seriously interested in a law career, you may wish to consider contacting local law offices, legal service organizations or other law-related entities to see if they require any assistance, even as a volunteer, during what time you have available. Any exposure you can gain in the field will benefit you in your future career.”



Around the World in 8 Semesters:

Costs & Savings of College Abroad

By: Hilary Pham

For most high school students, going to college is a no brainer. However, not many rising college students view foreign universities as an option. About 75% of college freshmen in the United States attend in-state colleges, leaving out the opportunities to study abroad (U.S. Census Bureau, 2008). Although most soon-to-be-college-freshmen choose to stay close to home, the tuition costs of higher education in America has risen by over 100% in the last decade, causing foreign education alternatives to become a more affordable option. The tuition costs and cost-of-living are not the only differences between the US and the UK. The average cost of an out-of-state public college including room and board in the US would be $32,762, as opposed to the maximum $14,550 institutions in England and Wales can charge (The College Board, 2014). Compared to US college curriculums that include elective requirements, students in the UK have a more major oriented course load. According to Richard Gower, a banker at JP Morgan who attended the University of Manchester in the North of England, first year college students in the UK are expected to pick their major before the school year begins while American students typically declare their majors their sophomore year. Class sizes in the US are usually larger as well, as Jessica Fuentes, an alumnus from the University of Illinois at Urbana Champaign, experienced in her classes with almost two hundred other students in the room. There are many other factors that accompany attending foreign colleges, such as the cost of traveling home during the holidays and language barriers. Despite potential drawbacks, studying in foreign countries can offer unique perspectives and a window into a different culture. When it is my turn to apply for college, I will not rule out studying abroad as an option, and I hope others do not either.

Balancing Life: Prioritize & Organize

to Make the Most of Your Time and Career

By: Joanie Wiley

Memories are something you cannot change once you have them. Want to determine the memories that you make? Then balance your life! As students, you often have lots of activities and things you have to manage; grades, jobs, sports, and clubs. It is important to learn time management because you are being prepared for the real world. According to the public agenda, 85% of kids who participate activities are better off than those who don’t. While interviewing Sabrina Gallion she states, “The advantage I had on other college students who didn’t have work experience in high school is in knowing and understanding that your time is valuable”. What comes first? Making money, having good grades, being the best athlete, or enjoying the club at school? This is the first question that should come to mind when you think about prioritization. A Whitney Young student states,” I prioritize by first creating a list of things that I need to do. Need, not want. Next, I put them in order of importance.” You have to make a list of Average Hours per Weekday High School Students things that you need to do in order to do the things you want to do. Spend on Various Activities

Have you ever ran into the problem of having too much planned in one day? It is time for you to start using a calendar or planner. They can help you make time for fun things as well. You do not want to be so busy doing the things that you have to without having fun. Being able to enjoy yourself is a quick way that you can relieve yourself from stress. Author Michael Altshuler once stated, “The bad news is time flies. The good news is you’re the pilot”. You have to make sure although your time is flying, you are leaving behind memories. Also Sabrina Gallion says, “When you take time to do something you should have purpose behind it.” The best way to leave memories behind is to stay active and having purpose behind what you do. Being active, prioritizing, using your planner and having fun will better prepare you for college.



Source: Bureau of Labor Statistics

High School Tips for Budgeting Success By: Nia Hill High school is the era in which we become more independent and mature. There’s more to school than maintaining a decent grade point average. High school is when we finally learn that we need more money for our pockets, leading us to get jobs. It’s important to budget and save our money to get the most out of our hard work. After clothing, teens spend the largest part of their budgets on food - 18% on average . That’s right, food. Chicago Public Schools announced at the beginning of the year that everyone will be entitled to a free school lunch every day, regardless of income. We should take advantage of our resources at school before graduating, especially the school lunches.

Source: Derek Thomspon, 2013

According to the 2011 survey from Capital One, 46% of teens do not know how to create a budget . There are three simple steps to creating a budget: tracking your spending, identifying your income, and planning your expenses. There are two different types of expenses: fixed and variable. Fixed expenses are expenses that remain the same every month (ex. health insurance, car payment). Variable expenses are expenses that vary each month (ex. phone bill, clothes). Trenati Baker, high school student at Whitney M. Young Magnet High School receives money from her mother and a paid internship. She deals with budgeting in high school by writing out what her necessities are and spending money on those rather than her wants: “It helps me visually see what I need to spend my money on. I don’t want to spend money on things that I don’t need”. Another way to budget your money is by using the envelope strategy. You budget beforehand what your needs are going to be for the month (ex. cell phone bill, rent, gas, etc), and put the exact amount of cash you need for that need in an envelope. When that money from the envelope is gone, then you will have to wait until next month to use any money, but be careful carrying cash. Visit CollegeBudgetBuilder.org to create your personalized budget!

On The Money would like to thank Republic Bank and Young Illinois Saves for their sponsorship of this issue.



The Posse Scholarship: Support for College Access AND Success By: Clark Lewis

The Posse Foundation is a foundation that partners with top colleges and universities to give full tuition scholarships to students. Groups of high school students called “posses” are chosen, trained and then sent to college the next school year.

Several months ago, I was selected as one of about 110 students in the city of Chicago to receive this scholarship and will be attending Middlebury College this upcoming fall. A problem I faced, like many students, was that even if I did get accepted into college, how was I going to pay for it? The average college tuition for the 2014-2015 school years in America is over $30,000 (Collegedata.com). Posse allows for students to obtain a higher education without economic restrictions. By being a part of Posse, I have been able to receive academic, career and personal mentoring in order to flourish in college. Compared to the nation graduation rate of 59%, (National Center for Education StatisOn The Money Intern, Clark Lewis tics), 90% of Posse scholars are graduating from college within four years (Posse Foundation). Posse “wish(es) to see our [the selected student scholar’s] success and will guide us through it to the end.” (Melissa Topic). Through college training mentors, Middlebury staff and my posse, I have been able to prepare myself for college and been given the tools needed to succeed there. The mission of the Posse Foundation is to find diverse and talented groups of individuals who can bring about community and individual development. “Posse has given me a real, attainable opportunity for college that otherwise would’ve continued to be a dream.”(Karla Nunez). Similarly, through Posse, I have not only been able to obtain an opportunity to access higher education, but I have been given the support I need to be successful with it.

Financial Literacy Involved Public Schools By: Jennifer Baeza On March 12, 2015, I had the opportunity to attend a financial literacy conference that was held at Ariel Community Academy to recognize the naming of Chicago as a Model City for Financial Capability Programming by the President’s Council on Financial Capability. This effort is critical as across the nation high school students have routinely been found to fail basic financial education tests (Jumpstart, 2008) and financial pressure is often cited as one of the key reasons for college dropout (Hoffman, Mackenzie, Paris, 2008 as cited in Norgel et al, 2009). In addition to students at Ariel Community Academy, Chicago City Treasurer, Kurt Summers, Chicago Public School CEO Barbara Bennett, Chicago Mayor Rahm Emanuel and U.S. Secretary of Education Arne Duncan spoke.

OTM Intern, Jennifer Baeza at CPS event

The speakers discussed how children in Chicago are now going to learn about financial literacy starting as early as kindergarten. They are going to be taught the basics in economics, personal finance, business, and investing. Project Director for the Chicago Public Schools, Angell Campbell said, “This meeting was a good thing to have especially for the young people who are going to be learning about financial literacy. I learned more about financial literacy because of this meeting.” 17


The Importance of Scholarships: More than Just Money for College

by: Crystal Stonewall Throughout a student’s educational journey, the phrase “a postsecondary education is the ticket to economic success in America” is often spoken of. By the time students reach elementary school, their minds are bursting with potential occupations. By the time students reach middle school, their minds are occupied with attending the best universities in the nation. However, once students reach high school, their focus shifts from wanting to attend the best university to wanting to attend an affordable university. According to CollegeBoard.org, over the course of 30 years from 1984-85 to 2014-15 average published tuition and fees at private four-year instituOTM Intern Crystal Stonewall and Mayor tions rose by 146%, from $12,716 (in 2014 dollars) to $31,231. The average published price at public two-year colleges rose by 150%, from $1,337 to $3,347, and the increase for in-state students at public four-year institutions was 225%, from $2,810 to $9,139. In fact, cost is one of the main reasons students do not attend college. The most common way students pay for college is through financial aid and grants. Another way student can pay for college is through scholarships. Scholarships are the most desirable type of funding because the money does not need to be paid back. According to research, each year an estimated $46 billion in grants and scholarship money is awarded by the U.S. Department of Education and the nation’s colleges and universities (Scholarships & Grants- Financial Aid to Help Students Afford College). Scholarships have many additional benefits. For starters, the recognition a student receives from a scholarship can give a student the confidence to pursue other academic and career goals. Also, receiving a merit-based scholarship indicates that a student stands out among their peers. This is important because when applying for college or even other scholarships or jobs, students will have a positive way to distinguish themselves from their peers. I have personally experienced this throughout my high school career. During the summer of my junior year, I applied for and was awarded the Plan2Achieve scholarship for youth employees. The acknowledgment and recognition of this scholarship has afforded me many prestigious opportunities including being awarded the scholarship by the Chicago City Treasurer Kurt Summers in front of nearing 1,000 of my peers. Additionally, I meet and was recognized by Chicago Mayor Rahm Emanuel. During my senior year of high school, I was honored to receive the Posse Scholarship. By being a Posse scholar, I will receive academic support while attending college and meet weekly with my “posse” or other scholarship recipients. Working hard in high school and applying for scholarships are both necessary steps to take in order to help finance your postsecondary education. Not only could students help raise money for college, but they may also be eligible for academic support and recognition.

Apply for the Plan2Achieve scholarship like Crystal! Visit www.Plan2Achieve.org to complete the learning module and a scholarship application!



OTM Intern Crystal Stonewall and City Treasurer, Kurt Summers

On the Money would like to thank U.S. Bank for their support of this issue

Prioritizing Our Future?

The Importance of the Child Care Assistance Program By: Trenati Baker Imagine having to quit your job because you have no one to watch your child or imagine losing your job because your boss can no longer pay you. Imagine working hard and dedicating your life to creating your own business and being successful then losing everything because of something you have no control over. Due to severe underfunding 176,000 Illinois children will have nowhere to go during the day, and 32,000 daycare providers that take in these children will now be without the money they receive from the State of Illinois. The Child Care Assistance Program, better known as CCAP, helps a multitude of low income families pay for childcare so that they can work or attend school. As of 2015, the CCAP budget has been underfunded by about $300 million. Latanya Rowland, a teacher and parent who utilizes CCAP, says, “[CCAP] is very important especially in low-income neighborhoods where families need the childcare assistance for their families because childcare is very expensive. The majority of our parents need childcare and without CCAP we lose parents, and if we lose parents, the teachers start to lose jobs.” Says another parent, “I can’t imagine life without CCAP. I need my job and I need CCAP.” While Illinois is certainly in a budget crisis, the CCAP underfunding may start a snowball effect that will substantially affect families and the economy. Many childcare providers, especially private and licensed home daycare centers, rely primarily on state funds. CCAP is one of those sources of funds, and, if cut, theses daycare centers will lose much of their funding, potentially forcing them to fold. As a result, teachers may likely lose jobs. At the end of the day, the question remains: Who does this really hurt? According to Rosalyn Jones, also a teacher, “This affects low-income families and high risk communities. Many families don’t have support systems and depend solely on the child care centers. If they can’t afford the expenses, then where does that leave their child? What happens to these babies who are already faced with the adversities of being low-income and have no place to go?”

The Cost of Raising a Child By: Christina Butler

The cost of raising a child over its lifetime was $245,000 on average in 2013 according to CNN. Even with this high cost, 750,000 teens get pregnant each year. But what makes raising a child so expensive? I interviewed a young parent, Monique, and Torit Torrence, MSW, Family Support Manager at Teen Parent Connection. Both collaboratively suggest that formulas, groceries & emergency expenses were the major factors contributing to the high cost of raising a child. According to Monique, a teen parent, “Being a young mom and budgeting for a growing 4 year old son is really hard. I have a budget, but that budget does not cover unexpected plans like car problems, sick days at work due to my son being sick, unpaid holidays, etc. It’s very hard. What I have learned is that all I can do is try my hardest and if things don’t get paid on time all the time, it’s ok because right now what is import-ant is my son being happy and stable, and as long as he has that, then I’m doing ok.”

Budgeting Tips for Teen Parents From the Economic Awareness Council and Teen Parent Connection 1. Create a budget but don’t panic if it doesn’t work perfectly every month. 2. Prepare for emergency expenses by building emergency savings (even if it is just a small amount). 3. Keep calm. Don’t panic if there are small changes to your budget or if you sometimes have to draw on your savings to deal with emergencies. 4. “Be resourceful!” Look for various forms of assistance that you might be eligible for and seek help through agencies such as Teen Parent Connection.

Torit Torrence who has a MSW and five years of experience of working with young parents agrees, “Many of the young families with whom we work are living in low-income households and may have grown up in a culture of “survival” and living day-to-day in terms of finance.” Overall, young people should definitely consider the costs of becoming a parent because it is extremely expensive!



IN THE KNOW 1) In Nia Hill’s article on page 16, what percentages of teens were not able to successfully budget?

a. Identify the three steps to budgeting identified.

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b. Identify the two types of expenses and provide an example of each.

2) Identify your favorite do and don’t from Yetunde Dosu’s tips on Dressing for Success? (pg. 8) Then think of your own ‘do and don’t’.

3) Use Nicholas Delgado’s 3 tips on marketing a new business to pitch a business idea of your own (pg. 7).




4) Check out the scholarship site Crystal Stonewall highlighted in the article on page 18, www.Plan2Achieve.org. Complete a learning module and then submit a scholarship application.

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an OTM@Eco email at nCouncil.o rg to learn h ow to app ly!

Or visit www.YoungIllinoisSaves.org to pledge online. (Must be 13 years of age or older)