Teen Money 101: An Introduction to Teen Money Management

By Stacia Morris

Teen Money 101, a timely educational book on teen financing and money management. A compelling, teen friendly, informative book, Teen Money 101 teaches practical every day money management skills to young people in a manner that is easy to understand and at the same time very engaging.

Teen Money 101 was written by Stacia Morris, a former IBM employee, financial advisor, youth volunteer and motivational speaker. Focus groups were conducted with the George Washington Carver Center (Norwalk, CT) and Turn of the River Middle School (Stamford, CT), while developing the methodology for the book. Many of the ideas of the teens were incorporated into the book to ensure that it would be teen friendly.

The feedback from the book has been very strong, since Teen Money 101 is formatted in a "Lights, Camera, Action" format where the "Lights" section introduces new terms, the "Camera" section tells the humorous stories of teen siblings and how they handle money, and the "Action" section provides an activity to reinforce and put into effect the concepts just learned.

We know that teenagers today are not taught about money in a structured way. Based on the current world economic crises; we believe that this is a unique time to teach our teens about money and finances, so that the next generation can be more prepared than previous ones. Teen Money 101 is an ideal book for our times and is intended for students age 13-18 (middle and high school students).

• Language: English
• Publisher: eBookIt.com
• Release date: Apr 26, 2016
• ISBN: 9781456601942

Book preview

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Commentaries

After reading this workbook I reflect back on my teenage years with a feeling of regret that something like this was not available to me in my formative years. The current economy demands and requires fiscal responsibility, which is something that should be engrained in our youth with the same vigor as reading and writing. As the global economy continues to fluctuate, wise financial practices and investments can tip the scales between financial stability and never-ending debt. This workbook is designed to teach our youth to avoid the pitfalls of spendthrift tendencies. Surely the lessons learned from studying this workbook will foster and instill those essential habits for financial security.

Josyl L. Barchue

Fordham University School of Law

J.D. Candidate, 2010

In all, I learned that understanding finances as a teen can help you as you grow older to practice good habits and to keep check of your money. Before reading this book I spent hundreds and hundreds of dollars without really focusing on where it was going and how much I was able to save after all my expenses. The book not only taught me the value of the dollar but how to use it wisely as well as how to manage my money more maturely. I really enjoyed reading it and I hope others learn the way I did.

Denzeyl Morris

(16 years old)

The workbook has helped me to understand the financial difficulties that providers go through everyday. It has also helped me to learn how to manage money and not spend it needlessly, helping my parents to save their own money instead of handing me money every weekend. I hope to incorporate these teachings into my everyday lifestyle.

Brianna Morris

(14 years old)

Dedication

This student workbook is dedicated to my late father, Stanley McLean Morris, Sr. My dad was a veteran educator who spent his life constantly learning and who could recite passages from Shakespeare well into his late 70’s.

I did not receive formal financial training from my father. My knowledge at an early age came from watching my dad as he operated his profession as a school’s principal in St. Vincent and the Grenadines, West Indies. As such, on pay day, it was my father’s duty to leave the tiny town of Layou and travel to the capital, Kingstown. While in Kingstown, he collected the cash salaries of all his teaching staff from the Government Treasury.

My dad kept a large briefcase for the cash. The teaching staff would come to our home, Dad would pay them and they would sign a receipt. This payment process existed long before there were direct deposits, Automated Teller Machines (ATMs) etc.

As a child, I was very curious about this process and tried to be present once a month when it was payday. Because of this, I grew up hearing the words: bank, savings, insurance, rent, mortgage payments, etc. Although I did not fully understand the meaning of the words, or the context in which they were applied; this experience fostered a natural curiosity about finances and how they affect people.

My interest in writing this workbook stems from many areas: my desire to pass on my father’s legacy of educating, and educating at an early age; my desire to give my nephew and niece a better understanding of money and financial concepts; my community work as a Junior Achievement motivational speaker and teacher; and my desire to see young people succeed in mastering finances at an early age. Additionally, I thoroughly recognize the need for this education based on my formal teaching experience in the Caribbean and the Bahamas. Financial education is necessary throughout one’s life, therefore the earlier it is started, the better. To make informed financial decisions helps to preserve one’s dignity.

This workbook is also dedicated to my teenage nephew and niece who inspired me to write this book and who provided very valuable insights as