Teen money expectations vs reality
One of the many things I love about kids is their optimism. As parents, we don’t want to crush that spirit! But we can help them by guiding their enthusiasm in a realistic direction.
Consider a recent Schwab 2011 Teens and Money Survey. A full 81 percent of teens aged 16 – 18 plan to choose a career either because they’re passionate about the work or they feel it will help them do good for others. And that’s great because we want our children to grow up and be happy in their professional lives. Besides, a happy workforce is a productive workforce!
But when it comes to the starting salary expectations of these teens, they’re a little out of touch with reality. These teens expect to begin their careers earning $73,000. This is interesting because these same teens believe their current family income to be $70,000. If we do the math, we see that their optimism puts them $3,000 ahead of what they think their parents are currently bringing in.
It would be interesting to ask them what they believe the median annual American household income is. Would they be surprised to find out that it’s $49,909? What makes them think that they can start off $23,000 higher than the median for established households?
It’s not about deflating their dreams. Rather, it’s important that we encourage our kids to do and be what they want while setting reasonable expectations.
How do we do this? We talk to them about what they want to be when they grow up. From there, we can help them figure out the financial outcome of following their dreams. Search engines are an easy way to find out starting salaries of different professions. If they end up with sticker shock, reassure them that their dreams are not out of reach—they’re just going to require a bit more up-front planning. Tell them that by creating a budget and setting up an automatic savings plan, they’ll become better managers of their money, which will ultimately help them get more of the things they want in life. It’s not so much the career they choose; it’s the money management choices they make along the way that will lead them toward financial security.
Enthusiasm can go a long way. But at the end of the day, without a solid financial plan and some realistic expectations, enthusiasm doesn’t pay the bills.
Source: America Saves.org
“Knowledge for Life” provided by the Finney County Extension Office and K-State Research and Extension.
Subscribe to the comments for this postSharing the Holiday Spirit
I’ve read about it in books and magazines and seen it dramatized on TV, but before this week I’d never experienced it myself. The “it” I’m talking about is a random act of kindness bestowed upon my husband and me by someone we don’t even know. It was a touching way to share the spirit at the beginning of the Christmas season.
It Happened to Us….
It happened last week in a local restaurant where my husband and I were enjoying a meal at the end of a long, busy day. The waiter had brought our bill and as we were finishing our meal, another server stopped and picked the bill up. But when she didn’t return it, we asked her about our check. It was then that she told us that another customer had already paid for our supper.
We were amazed and confused– we hadn’t seen anyone we knew in the restaurant that night. We wondered if it was someone who somehow knew us– maybe from my work or our community activities? But no, the server told us the customer admitted she didn’t know us, but just wanted to share the holiday spirit by paying for our meal. What a wonderful and uplifting gift!
What a great way to get into the holiday spirit and spread it to others! My husband and I have marveled at how wonderful it felt to receive an anonymous gift of kindness when we were least expecting it. And, we’ve been inspired, too, to look for ways we can spread the joy and touch the lives of others with the holiday spirit this month.
Share the Holiday Spirit
How about you? You may be able to lift someone’s spirits with your own small act of kindness. It doesn’t even have to cost any money to surprise and delight someone with your thoughtfulness. If you need inspiration, the internet is full of ideas, stories and surprises that can jog your imagination and creativity.
A great place to get started is the list of kindness ideas at the Random Acts of Kindness Foundation website. Check it out at www.randomactsofkindness.org.
As we embark upon the Christmas season, I encourage you to look for ways to share kindness and love with others– those you know and those you don’t know. It will make our world a better place to live during this holiday season.
“Knowledge for Life” provided by the Finney County Extension Office and K-State Research and Extension.
Don’t drink your calories!
The Dietary Guidelines for Americans advise us to limit our consumption of added sugars. After all, almost half of all the added sugars in the average American’s diet come from soda, sports drinks, fruit drinks and other sugary choices. Here are 6 ways to lower your beverage calories to “Maintain, Don’t Gain” this holiday season:
1. Make better coffee choices.
Some coffee house beverages pack as many calories as a meal! Watch out for coffee options that are high in fat and sugar and drink your coffee black most often.
2. Choose whole fruit instead of smoothies or juice.
While most blended drinks do contain fruit, they also often include frozen yogurt, sherbet, cream, and/or added sugar, all of which add calories. When you eat pieces of fruit you get the fiber which is missing in fruit juice, too.
3. Limit sodas or choose diet soda.
Super-sized or extra-large beverages may be a bargain per ounce, but they are a disaster for your waistline. Did you know that a ‘child-sized’ soda in a fast food restaurant contains the same amount of liquid as a 12-ounce can?
4. Go easy on alcohol.
Drinks containing alcohol add lots of extra calories with few nutrients in return. And, the alcohol may weaken your resolve to make other healthy choices. At holiday parties, choose diet soda or water with a twist of lemon.
5. Drink skim milk instead of whole milk.
An eight-ounce serving of whole milk contains 160 calories (that’s like 8 ounces of skim milk with two pats of butter floating in it!) The same-size serving of skim milk contains just half as many calories with the same amount of calcium.
6. Make the best choices every day.
Make it a habit to choose unsweetened drinks most often– water, coffee, tea, diet sodas. Stock the fridge with grab-and-go bottles of water and low-calorie beverages. Having the right foods and beverages on hand is key to controlling your calories. This helps keep you from making a bad ‘on the run’ choice when away from home.
Source: Food and Health Communications“Knowledge for Life” provided by the Finney County Extension Office and K-State Research and Extension.
Maintain, Don’t Gain During Holidays
Would you like to maintain weight this holiday season, rather than gaining 3-5 pounds as most people do?
The State of Kansas is promoting the “Maintain Don’t Gain Challenge” in November and December for employees in the state employee health plan. Even if you aren’t a Kansas state employee, you can challenge yourself with the same goals:
- Eat a healthy breakfast
- Complete 20 minutes or more of physical activity
- Limit alcohol to 1 serving or less daily
- Limit sweets to 1 serving or less daily
Using these strategies can help you to maintain a healthy weight and avoid the weight gain which can so easily happen at holiday time.
Here’s to a happy, healthy holiday season!
“Knowledge for Life” provided by the Finney County Extension Office and K-State Research and Extension.
December Knowledge at Noon on “Selection and Care of Fine Jewelry”
Whether fine jewelry is on your holiday wish list or already under the tree, this program will share tips for every Santa’s helper! Tom Linenberger, award-winning jewelry designer from Goldworks in Garden City, will explain what to look for when buying fine jewelry and even how to redesign new pieces from older jewelry items. He’ll also share recommendations for regular care, maintenance and inspection of fine jewelry to keep your pieces beautiful and protected for years to come.
Knowledge at Noon, sponsored by the Finney County Extension Office, will be Thursday, December 1, from 12:05-12:55 pm at the Finney County Public Library, 605 E. Walnut Street in Garden City, Kansas.
The public is invited to attend this program. Bring a lunch if you wish; coffee and tea will be provided. For more information on the Extension Knowledge at Noon programs, please contact the Finney County Extension Office at 620-272-3670.
