Table of Contents
Foreword 11
Introduction 13
Chapter 1 Learning from the People Around You 17
Your Parents 18
How to ask for a peek 22
Learning by example 23
Other People 24
Chapter 2 Spending and Saving 31
Needs versus Wants 32
Need versus wants questionnaire 34
Why does it matter? 37
They All Want Your Money 41
Impulse buying 43
Sure, you can spend 46
Chapter 3 Stashing Your Cash 53
Different Types of Bank Accounts 54
Savings accounts 54
Checking accounts 58
Other types of accounts 60
Putting Money into Your Savings or Checking Account 63
Depositing money by mail 63
Depositing money by ATM 67
Depositing money by other means 71
Where Should You Put Your Money? 72
Develop your plan 77
Picking a bank 81
Online Banking 83
Fees 85
Chapter 4 Budgeting Basics 91
What is a Budget? 93
Create Your Budget 100
Write it down! 100
Track Your Spending 109
Cash envelopes 110
Spending logs 115
Sample spending log 119
Cards 119
Deciding how to track your spending 126
Chapter 5 Creditors and the Games They Play 129
The Principles of Credit 130
Common credit card fees include 132
The Tactics 135
Look out 135
Here, have something for free 136
Here, let us help you 138
Here, buy anything you want 139
Here, become an adult 144
Minimum payment: Bad news 146
What if I don't pay? 150
Chapter 6 Debt, Debt, and More Debt 161
Good Debt and Bad Debt 163
Good debt 164
Bad debt 164
Handle your debt 168
The debt spiral 177
Are you in trouble? 178
Getting rid of debt 182
Chapter 7 What Are You Saving For? 185
How to Save 186
Saving for things you want to buy 186
Saving for college 191
Student loans 196
Saving for a rainy day 200
Chapter 8 Getting Money 205
Getting an Allowance 207
Getting a Job 211
Resources for Finding a Job 216
Create Your Own Job 218
Get rich quick? 224
Chapter 9 Financial Responsibility 227
Cosigners and Joint Accounts 228
Parental access 231
Chapter 10 Credit Reports 233
What's Listed? 234
Credit Scores 235
Identity theft 236
Chapter 11 Everything Else You Need to Know 243
Investing 244
Taxes 245
Insurance 246
Chapter 12 On Your Own 249
Making the Decision to Leave 249
The Current State of the Economy 252
Budgeting Worksheet 253
Conclusion: Congratulations! 255
Glossary of Terms 257
Author Biography 277
Bibliography 279
Index 281
