Christian Finance for Teens: A Simple Guide to Financial Wisdom for Teens and Young Adults

96 Pages·2014·0.802 MB·English

by  Cindy Kersey

CHRISTIAN FINANCE FOR teens

CHRISTIAN
FINANCE
teens
R
O
F
A Simple Guide
to Financial Wisdom
for Teens and Young Adults
CINDY KERSEY
New York
Christian Finance for Teens
A Simple Guide to Financial Wisdom for Teens and Young Adults
© 2014 Cindy Kersey. All rights reserved.
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ISBN 978-1-61448-754-8 paperback
ISBN 978-1-61448-755-5 eBook
Library of Congress Control Number: 2013940701
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CONTENTS
Introduction ix
Chapter 1: Jobs and Careers 1
Introduction 1
Spiritual Gifts 2
Jobs vs. Careers 3
Career Choice 4
Finding a Job 5
Writing a Resume 7
Sample Resume 9
Cover Letters 10
Interviewing 12
Sample Cover Letter 13
Follow Up 15
Job Success 16
Check Your Understanding 16
Reinforcement Assignments 17
v
vi | CHRISTIAN FINANCE FOR teens
Chapter 2: Debt 20
Introduction 20
Interest 21
Credit Cards 21
Buying a Car 23
Buying a Home 25
Financing College 28
Debt Consolidation 29
Check Your Understanding 30
Reinforcement Assignments 30
Chapter 3: Budgeting 32
Introduction 32
Steps to Creating a Budget 32
A Sample Budget 34
Groceries 35
Check Your Understanding 36
Reinforcement Assignments 36
Project Hardship Budget 37
Chapter 4: Banking 39
Introduction 39
Choosing a Bank 40
Checking Accounts 40
Bank Statements 42
Savings Accounts 47
Check Your Understanding 47
Reinforcement Assignments 48
Contents | vii
Chapter 5: Investing 50
Introduction 50
Investing Guidelines 51
Low-Risk Investments 52
Retirement Plans 52
Stocks and Bonds 53
Compound Interest 55
Check Your Understanding 56
Reinforcement Assignments 57
Stock Market Project 57
Chapter 6: Insurance 59
Introduction 59
Car Insurance 60
Homeowner’s Insurance 62
Life Insurance 64
Disability Insurance 64
Health Insurance 65
Check Your Understanding 66
Reinforcement Assignments 67
Chapter 7: Taxes and Wages 69
Introduction 69
Wages and Payroll Taxes 70
Income Taxes 72
Real Estate Taxes 73
Personal Property Taxes 73
Check Your Understanding 74
Reinforcement Assignments 74
viii | CHRISTIAN FINANCE FOR teens
Chapter 8: Personal Financial Statements 76
Introduction 76
Assets 77
Liabilities 77
Net Worth 78
Personal Financial Statement Example 78
Check Your Understanding 79
Reinforcement Assignments 79
Conclusion 81
Acknowledgments 83
About the Author 85
INTRODUCTION
Why is it important to study finance? The simple truth is that
many people learn about finances the hard way. By learning a
few basic concepts of finance, you can be ready to make better
decisions that affect your money and way of life. But why is
it important to study Christian finance? Christians need to
understand how important it is to be a good steward of the
material items and money God has blessed them with. After all,
it belongs to God anyway; we just take care of it for a while.
Did you know that the Bible has a lot to say about money?
One Bible verse that comes to mind is 1 Timothy 6:10. This verse
tells us that the love of money is the root of all evil. Many have
misinterpreted this to mean that having money is evil. However,
it’s the love of money that is evil. We need money and there is
nothing wrong with having money. The problem arises when
people become greedy and cannot be satisfied with what they
have. This leads to all kinds of sin.
ix