About Articles:Each week KWHS publishes informative articles on topics from business to entrepreneurship to college. The stories are written specifically for high school students.
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Do you think money is power? Personal-finance blogger Zina Kumok has learned the hard way that money management is much more powerful. In the latest installment of her ongoing KWHS series about financial tools and decision-making, Kumok shares the why and how of budgeting — a concept that will help you travel a more successful personal-finance path during and after high school.
Zina Kumok has learned a thing or two about personal finance – the hard way. After college, she was saddled with $28,000 in student-loan debt. A few years later, she is debt-free. KWHS has asked Zina to share what she has learned about money in her early 20s, everything from saving and investing to earning and spending. First up — understanding interest.
The Week in Review:
It was a week of big economic news. Delegates had a lot to talk about at the 2015 World Economic Forum (WEF) in Davos, Switzerland — everything from a weakening global economy to the cost of a value meal at the local McDonald’s. It turns out that Switzerland is an economic case study for lots of reasons, including having an expensive Big Mac. A look inside The Economist’s burgernomics.
It’s never too early to start learning about student loans. The average college senior graduated with $29,400 in student debt last year, and the number is projected to rise by a staggering 6% per year. On a starting salary faced with real-world expenses, it can take years to make that debt disappear. KWHS talks with two young personal-finance bloggers who share insights and reflections about their determined journeys to be debt-free.
KWHS guest columnist Eric Watson, financial writer for Money Crashers Personal Finance who advises young people on career development, retirement planning and smart money management, offers suggestions to boost your future financial health.
Shoppers with a mobile wallet app can start using their smartphones to make payments at any store that uses a near-field communication reader available at checkout. Lots of companies, from Google to startup Venmo have entered the mobile wallet market, and yet consumers are slow to adopt this new payment method. What’s behind the lack of popularity? Will mobile wallets ever become the norm? This Knowledge@Wharton article – with KWHS commentary from young Silicon Valley tech whiz Daniel Brusilovsky – explores these questions and more.
More and more students are graduating from college strapped with student loan debt that takes many years to pay off. The good news is that taking out loans does not have to be your only option to pay for college. Abby Parnell earned 24 credits before she even got to campus, and Ahmed Raza explored entrepreneurship to offset college costs. Read more about how these teens and others found ways to deal with the high cost of an undergrad degree.
Lots of people laughed through the 2013 comedy Identity Thief, in which Melissa McCarthy plays a character who steals Jason Bateman’s identity and proceeds to go on a spending spree, buying everything from jewelry to a jet ski. All joking aside, identity theft is on the rise, especially targeting young people who tend to overshare when using technology and on social media. KWHS explores identity theft – it’s definition, increase, and even one young entrepreneur’s app to help prevent your personal information from falling into the wrong hands.