7 Ways To Help Teens Start A Summer Business!

7 Ways To Help Teens Start A Summer Business

By Andrew Morrison
President, Small Business Camp

The Bureau of Labor and Statistics reports that the unemployment rate for teens this summer is expected to be 26.4 percent -- the highest number since they began tracking in 1948. Double that number and you begin to come close to the unemployment rate for black and Hispanic teens. Summer jobs that many of us were accustomed to growing up are virtually non-existent. Research shows a direct correlation to criminal activity and lack of meaningful work experience among teens.
What's the solution?

We could demand that the federal government allocate more dollars for summer employment programs and make sure that the state spends the money wisely. This political option should be pursued. As a business coach and someone who built a multi-million dollar company in my 20s, I suggest that all of us can also pursue a practical approach as well. Instead of helping a teen find a job -- how about helping them to create one?

Here's what you can do to help a teen or young person start their own business this summer.

1) Listen for their Passion. Teens have their own unique voice, dress and style. I know that you despise the tongue-ring, tattoo and sagging pants. A constant attempt to correct their behavior prevents you from listening to their dreams, desires and goals. Despite any outward appearance of apathy, all teens have something that inspires them. There is an activity that they will cause them to jump out of bed at 6am. Listen carefully and you can uncover it.

2) Connect Passion to Project. Find a two-month project. You can keep your teens interest by showing how they can achieve tangible results in a specific period of time. It's not always about the money. Not everyone is motivated by money. Maybe there is a service project that a young person could take the lead-on. Cleaning-up a park, preparing food for the homeless and reading to children are examples of projects that can occupy a teen and look good on their college application.

3) Bring their Friends. Peer pressure is the most powerful force on the planet. If you really want to keep a teen involved then make sure to invite their friends. They know which friends will take this business or service opportunity seriously. Any disagreements that arise serve as opportunities to improve their conflict resolution skills. The team approach will also help them to recognize and appreciate each others gifts and talents. That "shy" kid who they avoid may have the graphic design skills they need to start a clothing line.

4) Recruit a Mentor. Now that you have a team and idea in place, you can significantly increase their odds for success by asking a business person or executive to serve as a summer mentor. It's best if the individual had some experience in the industry that your teens plan to pursue. You could contact Score, chambers of commerce, local retailers or Rotary clubs to find a mentor.

5) Raise Start-up Money. The teens may need capital to get started. Help them create a one-page description of their idea and begin to share it with friends and relatives. Most concepts should require less than $500 to get started. Encourage them to find 5 people to invest $100 each and offer a promissory note that pays 10 percent interest in six months. Seeking investors may be the least glamorous task but this will determine if they are serious about making money this summer.

6) Events Are Hot! People enjoy going places during the summer. Maybe your teen business owners could work with an organization to promote a trip. Make sure they have at least six weeks to promote the event.

7) Internet Money is the Best Money. Billions are spent online each year. Teens could use eBay to list a neighbors items and take a commission on each sale. CreateSpace can be used to sell books, CDs and DVDs on-demand with no initial investment. Do you have an idea for a design or saying? Then CafePress and Zazzle is the place to create custom t-shirts, posters, bags and etc. without paying a penny.

Andrew Morrison is the President of Small Business Camp. The company provides high-impact marketing strategies for entrepreneurs, executives and non-profit leaders. Andrew has as trained thousands of entrepreneurs from Hawaii to Nigeria and appeared on Oprah. Visit www.smallbusinesscamp.com to receive his no-cost report entitled, "Identifying and Growing Any Business Idea in 16 Weeks".

http://www.blacknews.com/news/ways_t...iness101.shtml

This not my article I found  this on another site. If you would like

to read more go to the website in the article.

Teach Your Kid a Lesson in Investing!!

Teach Your Kid a Lesson in Investing This holiday season, consider opening up an investment account for a child
Teach Your Kid a Lesson in Investing
This holiday season, consider opening up an investment account for a child

By Ben Baden

Posted: December 6, 2010

This holiday season, consider giving your kids a head start on their financial future with a lesson in personal finance. By opening up an investment account on their behalf—or even just buying them a share or two of stock—you can help them get started investing at an early age. It's also a good opportunity to educate your kids about personal finance and help them begin saving, whether it's for their first car, college, or even retirement.

First, says Richard Barrington, personal finance expert at Moneyrates.com, "figure out how you envision the recipient using the money." Then evaluate investing options to find the best fit for your child. Here a few ways to get your kids started investing:

See top-rated funds by category ranked by U.S. News Score.

Individual stocks and bonds. Buy your child a share of stock or a savings bond from the U.S. government. If you go the stock route, Barrington suggests choosing a well-known, large-cap company like Coca-Cola that has strong fundamentals and prospects for growth. It helps to also choose a company that kids recognize and can relate to.

Norm Mindel, managing partner at Forum Financial Management in Chicago, says giving your children stock can be a good idea, but it can also be a complicated process. He suggests opening up a brokerage account for a child in your name and investing some of your money on their behalf. You can track the stock's progress together, then eventually hand it over to them when you think they're ready to handle their own finances. The other option is to open an account in the child's name. Once they're no longer a minor—generally 18 years old but sometimes older, depending on the state—the account will be theirs.

See 7 Money Tips for Twenty somethings.

Mutual funds. It can be difficult to build a balanced portfolio for a child with individual stocks and bonds. Mutual funds offer more diversification because they invest in a basket of different securities. Barrington recommends the Manning & Napier series of objective-based funds, which he invests in. Each fund has different stock and bond weightings suited for various risk tolerances and time horizons, and these allocations are modified over time. Other fund options include Vanguard STAR (symbol VGSTX) and the T. Rowe Price Spectrum Growth (PRSGX), which both invest in a handful of underlying actively-managed funds, providing instant diversification. They also have low minimum investments: Vanguard STAR only requires $1,000 upfront, and Spectrum Growth, like dozens of T. Rowe Price funds, require nothing upfront—just a commitment to set up an automatic contribution of at least $50 per month.

Another kid-friendly option is the Monetta Young Investor fund (MYIFX). Half of the fund is invested in the S&P 500 via exchange-traded funds, and the other half is invested primarily in a mix of what manager Bob Bacarella calls "best of breed" companies, which are typically well-established companies that tend to have high dividend payouts (think McDonalds and Apple). Investors can buy the fund with as little as $100 upfront if they sign up for an automatic investment plan of $25 per month. "I think it's important that people set up the automatic investment plan because that's the key to accumulating wealth, especially when saving for college," Bacarella says. Monetta will also send your child investment-related advice and games to help them better understand how the markets work, and investors get tuition reward credits each year on their birthday. These credits are as good as cash at 250 colleges—and counting—throughout the country.

See Teaching Your Child Money Habits for Life.

ETFs. Exchange-traded funds are similar to index funds, but they trade on a market throughout the day like stocks. ETFs typically have low annual fees, and many provide broad diversification in a single fund. It's also becoming cheaper to invest in them, as Charles Schwab, Vanguard, Fidelity, and TDAmeritrade all recently announced commission-free ETF offerings. Funds to consider include Schwab U.S. Broad Market ETF (SCHB), which gives investors exposure to the entire U.S. stock market with a basket of 1,400 stocks of small, midsized, and large companies, and charges an annual fee of just 0.06 percent. To give your child exposure to stocks throughout the world, you might consider Vanguard Total World Stock Market ETF (VT), which charges an annual fee of 0.30 percent and invests in more than 2,000 stocks in the United States and abroad.

See Fundamental ETFs Go Beyond Index Investing.

529 plans. Give your child a head start to saving for college with a 529 plan. The account will be in your name, so you'll decide how to allocate the money. "If you can help your kid get through college without building up a lot of student loan debt, then once they start working, then they'll be able to start right off the bat toward saving for retirement," says Barrington. As with individual retirement accounts (IRAs), the money in 529 plans grows tax-free. The withdrawals are also tax-free, as long as they're used for college expenses. Another plus is that anyone—parents, grandparents, even friends outside of the family—can contribute to the plan on behalf of the beneficiary.

See 5 Things You Don't Know About 529 Plans.

Roth IRA. While 529 plans are strictly for education purposes, Roth IRAs are for retirement savings. To open a Roth IRA, you must have some income, so this is a gift for an older child who already a job. Some firms allow minors to open IRAs, while others require that their clients are older. Both Roth IRAs and traditional IRAs offer tax-free growth, but Roth IRAs also allow you to withdraw money from your account, tax-free, after age 59½. Your children will have to open up the account on their own, but after that, parents or grandparents can deposit money on their behalf, Mindel says.

See Consider Converting to a Roth.

http://money.usnews.com/money/person...ing_print.html

 

This is not my article. I thought it was interesting so I 

thought I'd post it here. If you would like to see more

go to the website in the article.

Happy Memorial Day!!!

Happy Memorial Day Everyone! I'd like 

to give a special shout out to those who

are serving our country and can't be home

with their families. This ones for you, and

 Thank You! You guys are brave and

courageous and we (me and my family)

really appreciate you!:0) Happy Memorial

Day everyone I hope you enjoy your day!:0)

10 biggest money wasters!

Ten biggest money wasters you'll want to avoid

ATM fees

Using the closest ATM, rather than the one at your own bank will typically costs you about $5. Your bank charges a fee for going out of network, and the ATM you use also charges a fee.

Your bank's ATM probably won't cost you a cent.

You could fill a gas tank a with the savings, says Gary Thurber, assistant director of community relations at Consumer Credit Counseling Service of New York. Thurber has many clients who make anywhere from five to 10 unnecessary ATM withdrawals a month, adding up to around $40 -- or almost $500 a year.

"Nowadays $40 can -- almost -- fill up a car with gas," he said.

Lottery tickets

They say you have a better chance of being struck by lightning than winning the lottery. But that doesn't stop people from trying.

Consumers bought more than $70 billion worth of lottery tickets last year, according to the North American Association of State and Provincial Lotteries. About $38 billion was awarded in prizes.

Thurber said most of the clients he works with spend between $10 to $20 a week on lottery tickets -- mostly on the scratch-off variety. That adds up to a whopping $520 to $1,040 a year. So far, none of Thurber's clients have hit the jackpot.

Gourmet coffee

Spending a few bucks a day at the local coffee bar may seem cheap. But imagine all the money you could save if you simply brewed your own coffee at home.

Americans spend an average of $8.43 each time they stop at a coffee shop, according to data compiled by Mint.com. With caffeine fiends filling up an average of 46 times last year, this adds up to a total annual bill of $385.97.

For daily drinkers, the bill can be in the thousands. Thurber said he has clients who spend nearly $4 on a cup of coffee every weekday morning, costing them about $80 a month. That adds up to nearly $1,000 a year.

"You can just see their eyes getting bigger and bigger as I add up how much they are spending on it," he said. "That really starts to show them why they're having difficulty paying down credit card debt and helps them say, `I've got to make some changes'."

Cigarettes

Not only are they bad for your health, cigarettes are also a cancer on your budget.

Americans spend $80 billion on cigarettes per year, according to the U.S. Centers for Disease Control and Prevention.

Thurber said many of his clients spend about $70 a week, or $280 a month, on packs of cigarettes.

One client quit smoking after Thurber told him that he would save an extra $320 a month (including the money saved on his health insurance at work). He then used that savings to buy a new car.

If you simply can't ditch the habit, there are cheaper alternatives, like buying in bulk.

Infomercial impulse buys

Only $19.95! Call now and we'll double your order! Such promises have lured in many unsuspecting consumers to what they thought was a great deal.

The infomercial industry brings in about $400 billion a year, according to the Electronic Retailing Association. But it's no secret that many impulse purchases go unused.

Thurber said he has several clients who spend around $200 a month purely on infomercial purchases -- most of which they admit go completely unused.

Logan Sachon, a writer for personal finance site Bundle.com, has spent at least $500 worth of quick-fix products that she never used, including the Magic Bullet Blender, the Topsy Turvy tomato planter, the Perfect Push-Up and Debbie Meyer's GreenBags. And she said another $500 worth of purchases has probably ended up at Goodwill or put in the trash.

Brand-name groceries

Food products from popular brands may come in prettier packages, but that doesn't mean they're superior to their generic counterparts. While a 9-ounce box of Rice Krispies costs $4.79 at one New York City grocery store, its 12-ounce generic brethren costs only $1.99, with an identical list of ingredients.

And a $2 or $3 price difference can add up.

"Part of the time we're not even [buying brand names] consciously, we're doing it because it's familiar and we don't have to think about it," said Diahann Lassus, co-founder of wealth management firm Lassus Wherley.

Lassus said the prices of generic items are typically 5% to 10% lower than brand-name options. Even if there are only generic options available for some of the items you buy, she estimates you could save at least $50 to $75 a month if you're spending $500 to $600 a month on groceries for your family.

If you don't want to let go of your brand name items, shop at discounters like Wal-Mart or shop in bulk.

Eating out

Eating out is one of the most expensive habits you can have.

Consumers spent an average of $28.47 on each restaurant meal in 2010 and averaged 82 restaurant visits during the year -- adding up to $2,341, according to Mint.com.

Bars and alcohol are another money sucker, with people paying even more per transaction for alcohol than they did for dining out last year. On average, people spent $42.27 each time they went bar-hopping.

"It amazes me that when someone asks you for a $20 donation to charity, you think that's too much to give, but then you don't think twice about dropping 100 bucks on dinner," said Tom Orecchio of Modera Wealth Management.

Orecchio said one of his clients used to grab lunch from delis every workday, spending $10 to $15 each time. When he realized how much the habit was costing him, he began brown-bagging his lunches, and ended up saving more than $2,500 a year.

Unused gym memberships

Automatic monthly fees are one of the easiest ways to waste money. And it's not easy to cancel a gym membership when next week is always the week you'll finally begin that New Year's resolution fitness routine.

But gym no-shows are throwing away hundreds of dollars a year (maybe even a month, for some upscale gyms).

Lassus said one of her clients had been spending $75 a month on a gym membership she never used, so she realized it would be cheaper to just buy an exercise bike for her home.

"We all come to the end of the year and say `it's time to start getting in shape,' but we don't think through whether we are willing to make that time commitment and if it is going to be worth the dollars we're spending," she said.

Daily Internet deals

Those pole dancing lessons may sound like a great idea when an email entices you with 50% off for a limited time.

And of course, with daily deals, you'll need to purchase the offer now, but cash in on it later.

But lots of those vouchers never get redeemed. Lifesta, a site that will buy back your unused deals, estimates that 20% of all daily deals go unused. That's a whopping $532 million wasted, based on the Local Offer Network's estimate that the daily deal industry will grow 138% to $2.66 billion in 2011.

That might be why you're seeing so many of them popping up everywhere. More than 63,000 local group deals were published online last year, and almost 40,000 were published in the first quarter of 2011 alone, Local Offer Network found.

"Anyone who uses a computer is now being constantly bombarded with them," said Lassus. "But what you really have to do when you see a good deal that pulls you in is think `would I even be considering buying this if I didn't have this good deal in front of me?'"

Bundled cable or phone services

Bundled packages aren't always a deal, if you're not using the extra services you're paying for.

Consumers are often lured into bundled cable, Internet or phone packages because of the reduced rates offered during the first year or a limited period of time. But paying for 500 channels that you're not watching, or unlimited text messages or airtime that you're not using, is just a waste of money.

"People will often just pick the plan they think they can afford, and then they won't check their usage compared to what they're paying for," said Orecchio. "You might be paying for the silver or gold cable package with lots of channels when you're only watching the same 10 channels, and the same goes for cell phones -- you could be paying $100 a month for your cell phone plan and only using $50."

I don't agree with all of these but it is rather informing so I thought

I'd post it here for you guys!:0) Also this is not mine I got it off a

forum I'm on from a poster named msbittersweet08 I hope you enjoy!

I hate my computer! So frustrated uggh!

For some odd reason my computer is acting up again.

I can't see the follow button on any ones blog and I

can't see the follow me in a reader on some blogs either.

So if I am able to follow anyone it probably follow you 

in a reader. If I am to follow you please continue to follow

me  in GFC. Thanks! I will probably be able to follow some

of you via GFC when I am at school where they have much

better computers. Here's hoping. Thanks I hope you understand.

P.S.

It's also running very slowly...sucks.

Congrats to me! I've reached 500+ followers!

I've reached 500+ followers! Yipeee Yay WooHoo!

Anyone one who wants to enter for the chance to

win the Bath and Body Works gift card can enter

here or you can go to the original post. Hurry

giveaway ends 06/03/11!!!

It's Blog Hop Friday!!!

As you may all know I follow a couple of

blog hops on Friday! So I'm going to add

all of them here then that way we can join

in on the hops! Have fun, meet new friends,

and link up!:0)

Click on these buttons to join in

on the fun!:0)

I love makeup! Do you?

This is just a pic of some of the makeup I

collected over a few months! This is not 

even all of it lol...I think I need an intervention.

 

But all kidding aside I just wanted to show you

guys all the makeup you can get if you shop around!

 

I got all of this makeup from discount stores

and some from big chain stores! Here is the

list of stores I shopped at:

Kmart

Walmart

Dollar Tree&

Walgreens

Some was on clearance, and some I got with coupons,

and some I got on discount from just being a regular

fixture in some of the stores! Well I'm off to do some

more bargain hunting! ~Toodles~:0)

P.S

I would tell you the prices but I forget lol!

it's been about 3 months since I collected

them all! But I'd say about $ 25 dollars tops!

My Perfume collection is up next!:0)

Follow Me Back Tuesday!!!!

It’s everyone’s favorite day of the week again, Tuesday..
So that means it’s time to link up & follow for
Follow Me Back Tuesday
Hosted By:
Survey Junkie, Little Yaya’s & Boobies,BabiesAndABlog
With Guest Hosts:
Kerry from SparkPicks
&
Vanessa from Vanessa’s Soda Fountain

How it Works

* Follow all 3 Hosts & Guest Host’s - Spots 1-5 leave a comment w/ a link to your blog so we can follow you back ( only leave a comment that you follow if you actually follow )

* Snag our button & make a F.M.B.T. post.
* After you post use that link to add your blog to the hop along with your blog name

( NO BLOG HOPs & GIVEAWAYS PLEASE ) These entries will be deleted.

* Follow the blogs you like & Follow Back who follows you ( Remember to leave a comment so you can be followed back )
* And most importantly – Have Fun and Come back and see us every Tuesday !!

Alright everyone you know what day

it is! Let's start linking up!:0)

Click on the Survey Junkie button

in the side bar to join in on the

fun! Have Fun!:0)

It's Blog Hop Friday!!!

As you may all know I follow a couple of

blog hops on Friday! So I'm going to add

all of them here then that way we can join

in on the hops! Have fun, meet new friends,

and link up!:0)

Click on these buttons to join in

on the fun!:0)

Vote on this Poll Please!

In the next three months what are you likely to purchase?



A membership to a daily email daily tips newsletter!



A recipe



A report



software

View results

Get a free poll


 

I value your opinion! So would you

be so kind and vote on this poll please?!

Oh...disregard that extra word daily in

the first question..thank you!:0)

Follow Me Back Tuesday!

It’s everyone’s favorite day of the week again, Tuesday..
So that means it’s time to link up & follow for
Follow Me Back Tuesday
Hosted By:
Survey Junkie, Little Yaya’s & Boobies,BabiesAndABlog
With Guest Hosts:

Marie from The Things We Find Inside
&
Melly from Beckham & Bloom


How it Works

Follow all 3 Hosts & Guest Host’s - Spots 1-5 leave a comment w/ a link to your blog so we can follow you back ( only leave a comment that you follow if you actually follow )
Snag our button & make a F.M.B.T. post.
After you post use that link to add your blog to the hop along with your blog name
( NO BLOG HOPs & GIVEAWAYS PLEASE ) These entries will be deleted.
Follow the blogs you like & Follow Back who follows you ( Remember to leave a comment so you can be followed back )
And most importantly – Have Fun and Come back and see us every Tuesday !!


Link up every Tuesday at 12:00 am est


You guys know what time it is!
So let the party(linking up)
begin!:0)

Help Me Reach 500 followers and win a Bath&Body Works gift card!(This GiveAway is Closed)

In honor of reaching 400+ followers
I'm having a GIVEAWAY! Yay! Help
me reach 500 followers and enter for a
chance to win a $25 Bath & Body Works
Gift Card!:0)



If you would like to enter to win leave
a comment in this post! Good Luck!


Leave your emails if possible, it's much
easier that way! Thanks!:0)

It's Blog Hop Friday!!!

As you may all know I follow a couple of

blog hops on Friday! So I'm going to add

all of them here then that way we can join

in on the hops! Have fun, meet new friends,

and link up!:0)

Click on these buttons to join in

on the fun!:0)

Follow Me Back Tuesday!!!!

It’s everyone’s favorite day of the week again, Tuesday..
So that means it’s time to link up & follow for
Follow Me Back Tuesday
Hosted By:

Survey Junkie, Little Yaya’s & Boobies,BabiesAndABlog

This week’s Guest Hosts are:
Kati from Country Girl, City Life
&
Heather from My Work of Art



How it Works

* Follow all 3 Hosts & Guest Host’s - Spots 1-5 leave a comment w/ a link to your blog so we can follow you back
* ( only leave a comment that you follow if you actually follow )

* Snag our button & make a F.M.B.T. post.
* After you post use that link to add your blog to the hop along with your blog name

( NO BLOG HOPs & GIVEAWAYS PLEASE ) These entries will be deleted.

* Follow the blogs you like & Follow Back who follows you ( Remember to leave a comment so you can be followed back )
* And most importantly – Have Fun and Come back and see us every Tuesday !!


Link up every Tuesday at 12:00 am est




Hello It's Follow Me Back Tuesday!
Let's start linking up! Have Fun!

Happy Mother's Day!!! w/ Mothers Day recipe!

Happy Mother's Day to my SWEET MOMMY In Heaven!

And to all other mommy's as well! I hope you

enjoy your day!:0) Here is a a recipe that you

could make for your mom that I'm sure she 

will enjoy!

Stuffed Shells

32 jumbo stuffing shells

1 box Stove Top Stuffing

2 cups diced turkey or chicken

2 tablespoon mayonnaise

3 cans of creamed soup (your choice of chicken, celery or mushroom)

3 cans of milk

Vegetable of your choice

Make the stuffing according to the directions on the box. Cook the shells just enough to handle

because of the additional baking time. Also blend the soup and the milk until as smooth as

possible. Mix the stuffing, turkey and mayonnaise and put into the shells. Place the stuffed

shells into a greased baking dish and pour the soup and milk mixture over the top. Bake at 350°

F for 1/2 hour. Place vegetable of your choice over the top and bake an additional 10 to 15

minutes or until vegetables are done.

Yield: 32 shells

Have a Happy Mother's Day!:0)

It's Blog Hop Friday!!!

As you may all know I follow a couple of

blog hops on Friday! So I'm going to add

all of them here then that way we can join

in on the hops! Have fun, meet new friends,

and link up!:0)

Click on these buttons to join in

on the fun!:0)

Follow Me Back Tuesday!!!!

It’s everyone’s favorite day of the week again, Tuesday..
So that means it’s time to link up & follow for
Follow Me Back Tuesday
Hosted By:

Survey Junkie, Little Yaya’s & Boobies,BabiesAndABlog

This week’s Guest Hosts are:
Marci from The White Whimsies
&
Stacie from Staying Me..


How it Works

* Follow all 3 Hosts & Guest Host’s - Spots 1-5 leave a comment w/ a link to your blog so we can follow you back
* ( only leave a comment that you follow if you actually follow )

* Snag our button & make a F.M.B.T. post.
* After you post use that link to add your blog to the hop along with your blog name

( NO BLOG HOPs & GIVEAWAYS PLEASE ) These entries will be deleted.

* Follow the blogs you like & Follow Back who follows you ( Remember to leave a comment so you can be followed back )
* And most importantly – Have Fun and Come back and see us every Tuesday !!

Alright Everyone it's that time so

let's link up and enjoy! Click on

the Survey Junkie button in the

sidebar to join in on the fun! Enjoy!:0)

Vote on this Poll Please!

In the next three months what are you likely to purchase?



A membership to a daily email daily tips newsletter!



A recipe



A report



software

View results

Get a free poll

 

Opps meant to put the word daily

only once in the first question. Sorry!