Friday, October 19, 2012

Wealth Quest for Teens Schoolhouse Review 2012

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     I am very candid with my kids when it comes to managing money, with my husbands place of employment closing several years ago and having to start over in the job world at almost half the pay, we have been struggling and did not have any savings in place. I sure do not want my kids to make the same mistakes we did and want them to be successful in all areas of life. I jumped at the chance for a spot on the Schoolhouse Review Crew for an opportunity to give Wealth Quest for Teens a try in our homeschool and family.

      Jill Suskind, M.Ed., created WealthQuest for Teen, Ltd. , in 2008. The mission of the company is to have this generation of teens prepared to meet the financial realities of adulthood with confidence and competence. Jill believes that, in order to fulfill this mission, parents are her main partners, since teens establish habits and beliefs at home when they’re young. Jill also believes that parents want and need to be supported with effective tools and resources.

     Wealth Quest for Teens is targeted for youth in the age range of 14-19, this was a perfect fit for my older kids who are 14 and almost 16, but we also had our 13 yr old(in 2 weeks) join along too as he is always asking to do odd jobs to make some extra cash and can barely keep it in his pocket for 5 minutes. With Nick turning 16 and driving with a permit almost ready to get his license, he is actively seeking a job to make some extra spending money. Chores in this house are part of being a family, my kids do not earn allowance unless they go above and beyond. They do however seek out odd jobs from friends and neighbors and Alyx at 14 has had a couple babysitting jobs. I have to say out of all of my kids Alyx is the one that shows the most entrepreneurial traits. He already has a firm grasp on saving up for something he truly wants and very rarely "blows" his money. I think I worry least about him in the future but it never hurts to implement good life lessons and being financially successful is definitely one of those lessons everyone should have.

           Basic Wealth Quest for Teens is a 6 week financial fitness program that is a great tool for your whole family. For $39.95 you gain access to all 4 components, the online webinar that has printable pages for each module, the Basic Seminar QuickStart Guide eBook,eBook for Parents and the FREE link to MoneyTrail.net, this is my favorite aspect of the program as MoneyTrail.net is where you can go to set up an online savings plan, here teens and their families can see how to save and when and what to spend.

  Now you might be thinking is this a get rich scheme for Teens to show them how to be debt free and be a millionaire by investing money and so on and so forth. Well you are completely off base. This program not only tells teens that being successful is truly not about being rich, it is about picking an occupation that makes you happy and living within the means it gives you. Continuing to tell them that choosing a job that makes us the most money is not making us financially free. I loved that so much, I want my kids to have an occupation where they enjoy going to work and not dreading getting up and going every morning. You can be financially successful within your means by knowing how to save and budget and not be frivolous and buy just to buy. Making a plan and sticking to it is what makes us financially fit, and Wealth Quest for Teens helps teach our teens just that and I think Dave and I learned quite a bit along this journey too.

   To start have your teens watch the online seminars and print the worksheets and answer the questions, if you did this straight through it is about an hour long, each module is fairly short. There is not a huge amount to print, it took 10 sheets. We printed them and hole punched them and inserted them into a folder with prongs, green for money.  Moving on you are then going to have your teens work through the Basic Seminar Quick Start Guide, this is a 33 page printable PDF that acts as a financial journal. We added this behind the module pages in our folder/notebook. You could choose to use a plain notebook but I think using the pages as intended is more effective. This takes about 30 days to complete, but can vary as you work at your own pace. You will then read through the Parent Guide, Your Teen's Financial Literacy in Today's Economy. This is a 58 page e-book that you can choose to print or just read off of your computer or tablet, I did choose to print it and put it in my own folder for reference as it is just easier for me to work off of printed materials. This E-book will help you make the most of the Wealth Quest for Teens experience.  The last section of this 6 week course is the Free money management online tool,  moneytrail.net., this is a valuable resource for learning how to budget.

    The boys enjoyed this program immensely, it has changed their views on what they want to save for in the future, how to make a budget and knowing they can follow their heart in choosing a profession, not because of how much it pays but because it is truly what they want to do in life and in turn they will be more adjusted, happier adults. They are looking for Summer jobs for the upcoming year and are saving towards buying their own cars, now knowing that having a car payment wastes valuable money on finance charges. They also learned that although buying a house with a mortgage is sometimes a necessary evil, having the biggest down payment is a money saving tool. I can see by the conversations at the dinner table that Wealth Quest for Teens has made a powerful impact on not only my Teens but myself and my husband as well.  I highly recommend this program for all families with Teens, it is a life changing experience that will secure your children with knowledge to be financially fit as they grow into adulthood. $39.95 is a small price to pay for such a life altering experience.

     Be sure to check out what all of The Schoolhouse Review Crew members and their teens had to say about Wealth Quest for Teens, by clicking on the banner below.


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