Print

Email story

Comment

Email editor

Teens learn about green

Life is expensive, so budgeting is important, students are learningat "From Broke to Bling."

By LORRIE LYKINS
Published April 23, 2006

That was one of the main themes in "From Broke to Bling," a free financial literacy program designed to educate teens about budgeting and financial planning, establishing credit and managing credit cards, and, most important, how to stay out of financial trouble.

The workshops are meant to reach teens before they develop bad money habits or fall into the credit trap. The workshops are being presented at county libraries through June, co-sponsored by the Pinellas Public Library Cooperative, Bank of America and Junior Achievement.

The workshops involve plenty of interactive exercises and discussion among teens, who get an eye-opening lesson on how much things really cost and how challenging it is to make ends meet.

On Thursday, 17 students crowded a meeting room at the Seminole Community Library to get the crash course on finances.

The first activity of the evening was a Monopoly-like board game that teaches the economics of staying in school.

"The purpose of it is to demonstrate that if you drop out of school, it's much more difficult to accrue money," said workshop facilitator Libby Zorsky as she watched the teens rolling dice and teasing each other as they moved game pieces around the board.

Most of the teens attending the Seminole workshop said they were there because their parents signed them up.

"My mom made me come because she wants me to learn about financial stuff and how to budget money," said Christopher Bradbeer, 17, who attends St. Petersburg Catholic High School.

"My friend was coming, so I came with her, because I was interested. I don't know anything about money and I want to learn," said Kaitlin Vazquez, a 14-year-old Osceola High School student who plans to eventually attend culinary school to become a chef.

"I'm here because my grandmother wanted me to come. My mom bounced a lot of checks when she was younger, so my grandma wanted me to learn about finances," quipped a giggling 15-year old seated next to Vazquez.

Zorsky began the session by asking the teens to estimate what they spend their money on each week and how much they spend.

Most of the kids said they spend money on fast food, entertainment and clothes, in that order. The average amount most said they spend on food: $20 per week.

Kelsey Casamo, 13, dressed in a black sequined skirt and sporting a brown fedora, said she figures into her budget the chance that her friends don't have money to pay for their lunches at school. She likes to be able to help them when they need it.

"Sometimes they forget their lunch money, or they just don't have money for lunch," she said.

When it came to discussing what items they might save for, most listed cars, cell phones, laptop computers and college.

Several of the workshop participants hold jobs and some do volunteer work. The group was a mix of public, private and homeschooled students, most of whom said they plan to attend college.

Some of the kids exhibited some financial savvy and community awareness, saying they plan to invest in real estate and the stock market, tithe to their churches or support charitable organizations with donations of money or volunteer time once they finish college.

As fun as the format is, Zorsky said, the workshops teach sobering lessons on the reality of finances and how much it really costs to purchase and maintain a car, for example.

Zorsky presented the teens with a scenario that gave them a monthly income of $1,667 and instructed them to work in teams to find affordable transportation and housing using local apartment guides and classified ads.

The teens clustered into groups and pored over budget worksheets while munching on pizza and sipping Mountain Dew.

Bradbeer rubbed his temples as he perused an apartment guide.

"We're supposed to find an apartment we can afford?" he asked, leaning over to look at the budget on the table in front of his teammate and shaking his head in disbelief.

"Guess I am going to have to find a park bench to sleep on," muttered Jonathan Martino, 17, as he read over classified ads for cars. "But, hey, you know, there's nothing wrong with picking up some stuff at the thrift store."

"Hey! Check out the Escalade," 15-year-old Blaire Martino said as she excitedly poked the auto listing held by her friend, Amy Jo Rasmussen, 16.

"No way! Would you look at how much it is? We're buying the Grand Am because we can afford the payments," Rasmussen replied. "Look, it's only $107 a month for three years."

"But what about this '94 Firebird?" Martino asked hopefully. "It has a V-6 and it's only $4,000."

"Yeah, and how much is that a month?" Rasmussen shot back.

"Well, whatever we buy, it has to be a Chevy because they are more dependable, heck yes," Martino said confidently.

"Don't forget, cars cost money to run after you buy them," Zorsky said. "You have to think about gas and tires and maintenance and insurance."

"Oh, man, this is crazy. I thought I was going to get my own apartment when I turned 18 and started college, but there's no way," said Rasmussen, who works as a lifeguard at the Highland recreation complex in Largo. Rasmussen will work 40 hours a week all summer and will add to that a few hours at the Seminole Chick-fil-A.

"I'm saving all my lifeguarding money for a car and college," she said. "The Chick-fil-A money I earn will just be for spending money."

Rasmussen said her dream car is a silver Scion TC.

"But I'll probably end up buying my aunt's car, which is a '95 Acura. I can actually afford that," Rasmussen said, looking over a budget spreadsheet.

The teens listened intently as Zorsky explained the folly of succumbing to the lure of 10 percent discounts when signing up for store credit cards and using credit indiscriminately.

"What you guys really need to understand is how important it is to set goals for your money just like you set goals for yourselves," Zorsky said.

[Last modified April 23, 2006, 11:13:55]