Volume 1, Issue 1 – Summer 2024

Hello, Junior Investors!
Summer is here, and it's the perfect time to dive into new financial goals, learn new skills, and make the most of your free time. Our summer edition is packed with tips and resources to help you become more financially savvy.

With summer comes extra spending on activities, trips, and treats. Here’s how to keep your budget in check:

• Plan Ahead: List out your summer activities and estimate their costs.
   
• Set Limits: Allocate a specific amount for each category (entertainment, food, travel).
   
• Track Daily: Use an app like PocketGuard to monitor your spending in real-time.
   

Summer is a great time to earn extra money. Here are some side hustles perfect for teens:

• Pet Sitting/Dog Walking: Many families travel during summer and need someone to care for their pets.
   
• Lawn Mowing/Gardening: Offer to mow lawns or help with garden maintenance in your neighborhood.
   
• Tutoring: If you excel in a particular subject, offer tutoring sessions to younger students.
   
• Athletic Trainer: If you're strong in sports or fitness, consider offering training sessions to younger athletes looking to improve their skills.
   

Mutual funds are a great way to start investing. Here’s what you need to know:

• Definition: A mutual fund pools money from many investors to purchase a diversified portfolio of stocks, bonds, or other securities.
   
• Diversification: This reduces risk because your money is spread across many investments.
   
• Start Small: Many mutual funds have low minimum investment requirements, making them accessible for new investors.
   

Have you noticed how everyone is paying with their phones or watches? Here's why:

• Convenience: Digital payments are faster and more convenient than cash or checks.
   
• Security: They offer enhanced security features, like encryption and tokenization.
   
• Future Trend: Understanding digital payments can help you stay ahead in the evolving financial landscape.
   

Q: What’s the best way to start saving for college?
A: Start by opening a dedicated savings account or a 529 college savings plan. Contribute regularly—even if it's a small amount. Look for scholarships and grants to help cover costs.