Decisions, Decisions, Decisions
In your lifetime you will have to make many important financial decisions such as opening a savings and checking account, obtaining your first debit and credit card, borrowing money to buy your first car, deciding how to pay for trade school or college, renting your first apartment, buying your first home, purchasing insurance to protect yourself and your future family (e.g., auto insurance, health insurance, renters/homeowners insurance, life insurance), as well as deciding how much money to save and invest on a regular basis. You may already have started making some of these decisions.
There are many financial resources and tools, such as a financial plan and budget, which can guide you as you face the many financial choices you will make over your lifetime. You may not be aware of many of these resources and tools, or you may not know as much about them as you should. You are not alone—the majority of teens are not as knowledgeable about financial concepts as they should be. In fact, in the August 2007 issue of brass|MAGAZINE, an article about learning to become debt free says that in 2005, low-to middle-income 18- to 34-year olds reported an average credit card debt of $8,182. Add another $20,000 in average student loan debt and much of your generation is seriously in the hole (destination debt free, Katrina Myers).
A Program to Help You
Fortunately, the brass|STUDENT PROGRAM has been developed to help you obtain much of the important financial knowledge and skills related to earning, spending, saving, and investing money that you will need during your lifetime. The program is a partnership involving the New York Credit Union Foundation, the Credit Union Association of New York, supporting New York State credit unions, brass|MEDIA Inc., the New York State Education Department, and the Business Teachers’ Association of New York State.
There are three components to the brass|STUDENT PROGRAM:
- Brass|MAGAZINE Student Edition—great articles for young adults about life and money ― your public high school receives the magazine!
- Brass|TEACHER RESOURCE CENTER—online instructional resources for your teachers ― be sure to tell your teachers about this
- Brass|STUDENT RESOURCE CENTER—great financial resources for you and a searchable scholarship database to learn about scholarships available from your local credit union(s) ― check it out!
