Number one: Learn to live beneath your means. Simply stated get a grip on your spending habits and spend less than you earn. Preferably, much less. Seems simple enough and it certainly isn’t rocket science, but this one little tip is what many people struggle with. Use a spending tracker for a few weeks to get a feel of how and where your money is spent. You may be surprised. Spending less than what we earn can sometimes be tough, especially with the peer pressure many teens face. Bottom line, it becomes a choice. A choice of priorities. If I was paid $1.00 for every time I heard, “I just don’t know where my money goes,” I’d be sitting in my beach chair enjoying the Hawaiian Islands.

Number two: Show them the power of saving early. Our teens are blessed with the gift of time, so show them how quickly $40 a month can add up to thousands with the magic of compounding interest. Whenever I show a group of teens the power of time and investing, I get a combination of jaws dropping and eyes widening. I think I have more fun than they do. Check out www.moneychimp.com for easy and fun calculators.

Number three: Understanding credit cards is non-negotiable. We must educate our teens on the pitfalls, as well as the advantages, of credit card usage. Without a complete understanding of how finance charges will sneak up on them, they are bound to get into trouble. Bottom line: if they can’t pay for the item in full when the bill arrives, they shouldn’t be buying it, (excluding emergencies, of course.) This ties in with item number one above; don’t spend what you don’t have.

Number four: Last, but certainly not least, introduce them to the importance of their credit score. A good credit score can mean the difference between being approved for an auto loan, getting a job (many employers will pull credit before hiring) or being able to qualify for a home someday. Without a doubt, interest rates they pay will be higher with poor scores, which equates to money flying out the window.

There are certainly more topics to cover when it comes to money education, but these four are the top on my list. Be sure to talk with your teens and seek help yourself, if needed. As always, I’m here if you need me.

For college bound teens, credit card companies have, in years past, made it very easy to obtain credit cards. According to a recent Sallie Mae study, college students carried an average balance of $3,173 on their credit cards last year, a record high since the first analysis in 1998. A whopping 82 percent revolved a balance each month.
On May 22, President Barack Obama signed the Credit Card Accountability, Responsibility and Disclosure, or Credit CARD, Act of 2009 into law. Among many changes, one in particular is geared towards those college kids.

Effective February 2010, consumers under age 21who can’t prove an independent means of income or provide the signature of a co-signer aged 21 or older, won’t get approved for credit cards. The provision protects young people who lack the means or the knowledge to handle credit cards from drowning themselves into debt.

Although credit cards are important, especially for obtaining a credit history, which is necessary for good credit scores, people need to understand the pitfalls.

Given this new law, we should see more debt free college graduates. At least when it comes to credit cards!

There’s no doubt about it.  The love a mother feels for
her children is profound, but in this incredibly
beautiful experience of motherhood, many moms also
disconnect from their dreams.  With constant demands on
our time, energy and attention, it is easy to see how
some moms can get lost in the very role of being the
mother.  Now, take a moment to acknowledge the power a
mother holds when she has her own personal goals and
takes active steps to follow them.  By having ambition
and taking an active role in her destiny, she is
showing her children how to follow their dreams! 
Mothers are role models and children do as we do, not
as we say.  Right?

The reality is that when everything in a mother’s life
becomes about her children, her own needs, wants and
desires get lost in the shuffle.  In addition, children
can see this lack of self-care as an unconscious
example to follow.  Ask yourself this question: Do you
want your children to follow their dreams or live a
life that consists of fulfilling their obligations? 
The majority of moms want their children to be happy
which means the answer to this question is that you
want your children to spend their lives pursuing their
dreams!  

So, just as the flight attendants demonstrate on
airplanes, we must remember we cannot truly encourage
and support our children in their efforts unless we put
our own oxygen masks on first!  This act of self-care
is not selfish, it is necessary for own survival and
happiness.  As our own interests may sometimes fall
second or third in line to the duties that are required
to raise our families, we cannot forget to take the
time we need to focus on what makes us happy.  The
truth is that we need to feel good about and show love
to ourselves regularly so that we can show our children
how to love, value and respect themselves.  We must
remind ourselves that everything we do as moms reflects
on our children and plays a large role on their future.
 

What You Can Do Now:

If you are ready to follow your dreams (or if you are
feeling out of touch with your inner passions) here are
some things you can do to get back on track and
reconnect with yourself.  

First, take a deep breath and release all of your
feelings of inadequacy and self-doubt.  You deserve to
have a passion, purpose and personal goals. Everyone
does!  Letting go of the idea that you can’t have your
own interests because you are a mom is a self-limiting
belief that will not serve you or your children well. 
Leave these false beliefs behind and move forward with
the understanding that by giving yourself your dreams
back, you will be happier, more fulfilled and a better
mom!

Second, start writing down a list of all of the dreams
that you have had throughout your life, even things
from childhood that you never thought could be
achieved.  No dream is out of reach.  Some may take
more creativity to achieve than others, so if you catch
yourself saying that something is impossible remind
yourself that there was a day when no one could fly! 
Now, it’s your turn to spread your wings and soar!

Third, choose your top three dreams and write down 3 to
5 action steps you can take this week to achieve them. 
Yes, this week!  Then, commit to and continue with
those action steps until you have reached your goals. 
Baby steps add up into massive growth very quickly!  

Most importantly, enjoy every moment of this process
and surround yourself with people who support your
dreams.  You really can do whatever you set your mind
to.  And when you do, your children will have proof
that by taking decisive action dreams really can come
true! 

Bio: Britt Michaelian, M.A. is a mompreneur with
multiple business and a new 12 week coaching program
for moms who are ready to take the leap and start a
lifestyle business.  To receive 12 Business Building
Bonus Gifts and access to her FREE Business Building
Basics for Moms Teleseries, go to http://CoachBritt.com

If you’re a parent, teacher, coach or mentor of teens, this email
is an early Christmas present! :)

Meet Josh Shipp…FOX calls him “The Dr. Phil for Teens”.

Click to see more about Josh.

His ability to relate with teens and engage them towards positive
behavior is an unreal thing to witness. He’s spoken to millions of
teens and been the featured speaker at places such as Harvard
Univeristy, Stanford, and UCLA. Now he’s giving away his
secrets, strategies and techniques for free. (yes…FREE!)

Click to see more about Josh.

For those of you who don’t know Josh, his personal story drives his
passion to help teens get it and help those who care about teens
get through to them. He was literally abandoned at the hospital as
an infant, he’s never met a single person related to him and was
raised in 12 different foster homes.  So how does someone with that
kind of background end up with a TV show, a new book, and get featured
on CNN, FOX, MTV, Comedy Central, etc. (and most recently in Inc
Magazine’s “30 under 30″ Feature)??

He’s sharing EXACTLY how that happens for any teen:

Click to see more about Josh.

I know that, as a parent or teacher, you’re tired, overworked, and
sometimes dealing with teens is just frustrating. Sometimes, you
really wish there was someone who could come along side you and
take some of the pressure off you.

Well, this is about as close as you can get to having Josh Shipp as
your personal coach and your teen’s mentor.

**Just Enter your first name and email address and you’ll get free access**

Click to see more about Josh.

One of the most common struggles I hear from parents is their teens constantly look to them for money. I’m not talking about the “I need new shoes” money. I’m talking about the “I want to go to the mall with my friends” money. Wouldn’t we all love somebody we could turn to for extra cash when we want to spend a few hours at the local mall? (My hand is raised)

Here’s the thing. We are doing a huge disservice to our children, specifically teens, when we constantly hand them cash. Unfortunately, they tend to then expect it, time after time. They aren’t taught to manage money, save it or respect it. In time, their perspective of how to earn their own income is warped.

But, here’s the greater issue. When teens (or anybody, for that matter) learn to create their own income, they become empowered. They gain a sense of identity and an “I can do this” attitude. The results? Greater confidence, heightened self esteem and a sense of independence. This holds true whether they’re working for somebody else or has taken the entrepreneurial route.

With the tight job market these days, it’s important to introduce the world of entrepreneurship to our kids. How? Brainstorm with them and encourage them to think outside the box. Ask them some key questions: what do they love to do? What are they really good at? What skills do they have? Don’t discount any ideas to start, just write everything down on paper. You can then start to weed out those ideas that don’t resonate with you. Have fun creating flyers, business cards or even a simple website or blog. From dog walking to babysitting to mowing lawns, there is always some way to create cash.

With this spark, amazing things can happen over time. Gift your kids with tools and support to empower them with this invaluable life skill.

Isn’t it fun when you get those product samples in the mail?
Especially when it’s a product that you really love and can
actually use. 

Well, I want to send you that kind of sample; one I know you
will love and will definitely use! The best part of this sample
is that it gifts your teens with money smarts! The digital
delivery is especially cool!

So, what is this sample? It’s a one month, trial membership to
the National Association of Prosperous Teens! What will you get?
The first three video lessons from my popular DVD curriculum,
The Prosperous Teen.  Your teens will benefit from the money
education, the fun and the lifelong valuable lessons.

There is no obligation or commitment! I simply want you to
‘taste’ what is available to you. If you like what you see, I
would love for you to continue as I work with your teens. If
not, you may cancel at anytime. No hard feelings, no questions
asked.

Learn more by going here now!
http://www.theprosperousteen.com. It’s amazing what $1.00 can
buy these days!

I look forward to educating and empowering your teens!

Patti