MONEY MATTERS:PEER PRESSURE & PERSONAL FINANCE

May 1& 8, 2012

Who makes more money?

Oprah Winfrey

Tom Brady Sean Combs Bill Gates Tiger Woods Jay-Z Jeff Bezos

Bill Gates- $59 b Jeff Bezos- $19.1 b Oprah Winfrey-

$2.7b Tiger Woods- $600

m Sean Combs- $550

m Jay-Z- $460 m Tom Brady- $100 m

What does TV make being rich look like?

Now do you know what these celebrities have in common?

Bankruptcy!

How can someone so rich go broke? Lack of financial knowledge Poor spending habits Poor investments They let their friends tell them what is

importantDon’t be like these people, learn to be money-smart and keep the money you earn!

Money and Teens

How much do you think teens spend each year in the United States?

You may look at your summer paycheck and think “This sucks.”, but you have HUGE purchasing power! Leaky Barrel Exercise

Where will you keep your money this summer?

Where is the safest place to keep your money? Shoebox

Can be damaged by fire, stolen, lost, or spent Wallet

Can be stolen, lost, or spent Can’t get stolen cash back

Under the mattress/secret place Can still be damaged by fire, stolen, lost or

spent Bank/Credit Union

This is the SAFEST option for your money!

Where will you keep the money you make this summer?

Riverside Federal Credit Union Under 18 you can open a savings account

Must open it with a parent /guardian

First Niagara Under 18 open a Youth Savings account

M&T Starter Savings Account

Banks PAY YOU to keep your money in a savings account!

Credit Unions vs. Banks

Your money is safe here!

Banks and Credit unions protect your money…

So even if this happens…

Or this…

Your money is insured up to $250,000 by the FDIC!

Cash Checking Services: An Easy Way to Lose Your Money

Banks and Credit Unions are WAY CHEAPER than getting your checks cashed!

Remember: You earned that money! Keep more of it!