Ronda-isms: Good-Bad-Ugly™

Most likely your high school graduate is 18 – a legal adult that is now responsible for their well-being, can be drafted, sued, and all the other wonderful privileges afforded an adult.

To send them out in what can be a cold and cruel world unprepared is like sending a soldier to the battlefield without armor.

Below are topics that I typically cover when doing presentations to schools based on my youth mentoring as Matrix Navigation.

Ages 5-10

• Count Money. Know how to count money and make change without a calculator. Use spare change.
• Money Management. Open a savings account at a bank. Money management starts young. Half of everything you make or receive should go in savings account to earn interest. Use chore apps to pay kids for chores or allowance.
• Budget. Living within your means/budget. Only spend what is in your budget, wallet, giftcard. 
• Need v Want. The difference between a “want” vs a “need.” You may want candy, but you need food. You may want a toy, but you need shoes and clothes. You need shoes and clothes, but you don’t need name brands. Don’t be a label whore. Quality over quantity and many “brands” are crap.
• Cooking. Cleaning. Laundry. Many college students arrive on campus not knowing this. Start teaching your children by introducing simple chores.
• Reproduction. Know your body and the changes it grows through as a teen, in your 20s, 30s, 40s, etc. Your body constantly changes as you age. You should adjust your eating habits and physical exercise accordingly. Resource.
• Start talking about college now. Take to college homecoming and alumni events.
• Vote. The importance of voting every 2 years in city, county, state, and federal elections. City, county, and state elections have a more immediate impact on citizens daily lives because (mayor, sheriff, prosecutors, judges, police) determine how justice is a day to day fashion. Republicans changed voting laws via gerrymandering at the local and state level. By the time the presidential election rolled by people already lost voting rights. Voting is a right that must be continually guarded. The person that says your vote doesn’t matter understands that it does which is why they don’t want you voting. Democracy only works when citizens hold elected officials accountable by first exercising their right to vote. Resources.

Ages 11-13

• Budget Lists. Making a budget for grocery shopping, monthly living expenses (metro card, lunch money, clothes, dining out, dates, entertainment), specialty gifts. Use a savings app or layaway.
• Checking Account. Building good credit starts with the bank. Open a checking account. If you mess up your bank account – too many overdrafts or fraud, your name in Chex Systems prevents you from opening an account at any bank for 7 years.
• Assets vs Liabilities. A home is an asset that increases in value/equity. A car is a liability that depreciates in value as soon as you drive off the car lot.
• Credit Habits. Create good credit habits to get a high credit (FICO) score.
• Credit Reporting Agencies. Credit reporting agencies (Transunion, Equifax, Experian), that track credit history. Companies check with these agencies for your “credit-worthiness.”
• Wealthy vs Rich. Wealth is passed down from generations. Rich is temporary – rich today broke tomorrow. See The Budgetnista
• Police Encounters. Know your rights if stopped by police in public, car, knock on your door, arrested or protesting. Special laws re: juveniles and minors.
• Mental Health. Wellness is important. Bullying and the stress of being a pre-teen can be overwhelming. Seek help. Don’t suffer in silence. Resources here.
• Voting. The importance of voting. Voting is a right that must be continually guarded. The person that says your vote doesn’t matter understands that it does which is why they don’t want you voting.

Ages 14-16

• Passport. Have a passport for student exchange, study abroad. Also preferred form of ID because proves citizenship. You can’t travel abroad outside US without a passport.
• Identification. Have a state ID or driver’s license, necessary for flying, summer or part-time job. High school ID is not acceptable form of ID.
• Grocery Shop. See Grocery list below.
• Finding a Job. Search reputable job search engines. Do not apply for a job asking for you to send a check or give your SSN or bank information via email (probably a scam). Work on interview skills. Cover letter. Resume. Interview attire. Do your research on your employer before the interview.
• Payroll Documents. Understand how to complete I9/W4.
• Taxes. Payroll taxes are taken out of your work check. As a dependent/minor, technically you do not have to file a tax return with the IRS until you turn 18 or become an emancipated minor. However, if your child receives income as a gamer, social media influencer, or as an athlete with NIL deals, they will need to pay taxes. Tax returns are due April 15th every year. 
• Direct Deposit. Set up direct deposit to receive paycheck electronically to debit card instead of paper check.
• Labor Laws. Employee rights re: breaks, lunch, minimum wage, sick leave, pay day (regular vs overtime), sick leave, paid time off (PTO). If you are under 16 yrs old, typically law limits number of hours you can work per work during the school year.
• College. Start talking to your college career counselor about colleges, scholarships, and campus visits. Take SAT/ACT prep course like Kaplan Prep. Most places offer a huge discount for students with financial need. Do NOT take the SAT/ACT without taking a prep course first. 
• Wealth Building. Talk to bank/credit union about basic savings and financial planning.
• Wellness. Health is wealth. Preventative wellness is best. Annual physicals, especially ladies should get annual pap smear with OB/GYN. If no health insurance, go to a free clinic. Check on their mental wellness.
• Credit Score. Importance of good credit. How to build credit score (FICO).
• Credit Cards. Dangers of credit cards if not used properly. Never spend more than 30% of your limit. If your credit limit is $500, stay under $150 per month to maintain a good credit and pay off at end of the month. If you can’t pay it off by the payment date, do not buy it.
• Driving. Driving is a privilege that can be revoked by your parents by law preventing you from driving until you are 18. Having a car means being able to afford the insurance, gas, and maintenance (oil changes and tune-ups). If you’re driving, you should know how to change a tire.
• Contracts. Never sign a contract without a parent/legal guardian. Technically a contract signed by someone under 18 is not legally binding, but that may change depending on what age your state considers someone as an adult (so could be as young as 16).
• Co-sign. Never co-sign a contract for anyone or act as a co-guarantor. It means that you accept financial responsibility for payments if the other person fails to pay and you can be sued or credit reported.
• Scams. The federal or state government will NEVER call, text or email you for information asking for your SSN or saying you are being sued. The government communicates by mail. 
• Vote. The importance of voting every 2 years in city, county, state, and federal elections.

Ages 16-18

• Credit Report. Check your credit report annual. Free credit report once a year by federal law. Anything on your report before you turn 18 yrs old can be contested and removed from your report. Check all three reporting agencies (Transunion, Experian, Equifax).
• Tax Returns. Typically, once you are 18 yrs old or an emancipated minor you should file taxes annually by April 15th. To determine whether you need to file, check here. Normally there is a penalty fee if you do not file and owe taxes. Best to use an accountant or tax prep company. If you file an false tax return (use someone else as a dependent for EIC) you will be audited and fined.
• Renting an Apartment. Most apartment complexes will check your credit history before renting to you. Read guide on renting first apartment. Things to consider if you are getting a roommate. Two weeks before you move file a “change of address” form with the post office so that your mail will automatically be forwarded from your old address to your new address.
• College Preparation. Tips for surviving and thriving in college. Lessons learned. Go where you don’t have to take out loans. Consider going to college abroad in Europe (much cheaper).
• Gap Year. After being accepted in college, you can ask your college to defer your admission for a year. You start a year later. Most people take this time to travel domestically or abroad, work part-time, or just chill.
• Student Loans. Avoid private loans. Tips here. If you must take loans, only federal loans. Better to attend an undergraduate college where you don’t need loans. Normally, student loans can’t be included in a bankruptcy filing. That debt is with you until you die.
• Unemployment Insurance. It is not welfare. Money is taken out of your pay check and goes towards unemployment. When you become unemployed, you can file for unemployment benefits. You’re simply getting money out that you already put in the system. Normally, if you quit or are fired for cause, you may not be eligible for unemployment.
• Networking. This is how you build your professional connections. It starts in college. Tips for networking and managing office politics here.
• First Car Purchase. Tips here. 
• Financial planning/wealth building. Maximize your job’s 401k, estate planning (life insurance, wills, trusts).
• Entrepreneurship. Go to your small business development center (most graduate business schools have one). Most offer free legal and accounting services helping you draft your business plan and get incorporated. Workshops on marketing, branding, finances, and becoming a MWB (minority woman owned business). Many small business centers are connected with government small business grant/loan programs to assist you. Do not start a business without taking advantage of free resources.
• Healthcare. One of the benefits of being a full-time employee is healthcare. Most employers provide a group health, dental, and vision plan. You may have to contribute a portion from your paycheck, but usually a PPO gives you more options for doctors than an HMO. Pick a primary physician that is connected to a reputable hospital. Find out about FSA and HSA plans.
• Vote. The importance of voting every 2 years in city, county, state, and federal elections. City, county, and state elections have a more immediate impact on citizens daily lives because (mayor, sheriff, prosecutors, judges, police) determine how justice is a day to day fashion. Voting is a right that must be continually guarded. Democracy only works when citizens hold elected officials accountable by first exercising their right to vote. Resources.
  
  

Grocery Shopping List

Ronda Lee

Founder, Editor-in-Chief
Ronda is an attorney, writer, and entrepreneur. She is a contributing writer for the Huffington Post. Originally from Chicago, she has lived in Los Angeles and New York. She loves to travel and is passionate about education equity, especially for first generation college students.