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News from the Reference Desk

Talk to Your Teens About Money

It’s the time of year when many of us make decisions about our employee benefits for the coming year–“open enrollment” season. The Office of Financial Education, a part of the Consumer Financial Protection Bureau, offers this sound advice:

You can guide your children in finding the financial help they need

The financial world of today isn’t the same world you grew up in. New services and choices are being offered all the time. For your children to navigate the new financial world they’ll face, they need to know when to seek out information and how to evaluate it. Your children need practice making money choices, and they could use your guidance. At this age they may be earning some money of their own. Now, as you make benefits choices for next year, think about including your teenager in your decision-making process. You can help your teenager think about how to use information to make a good decision. If you have benefits fact sheets or Web sites from your employer, sit with your teenager and go through them. Talk through the questions your child has, and ask a few questions of your own:

  • What is the most important thing to think about for the family’s health care? Why?

  • Have there been any changes in the family since last year that could make a difference to health care? To insurance? To flexible spending dollars?

  • What could be the advantages or disadvantages of having benefits deducted from your paycheck, compared to paying the costs on your own?

  • How trustworthy is the information you receive? How would you look for further information?

You don’t have to do anything you wouldn’t do normally, when you make your benefits choices. Just by showing your teens how you approach enrollment, you’re helping them practice the decision-making process before their own paychecks are at stake. For more ideas, visit www.consumerfinance.gov/parents.

By joecollier on December 17, 2014 Categories: Business, Children, Consumer, Economic, Education, Finance, Jobs

The Kid’s Pantry

The Kid’s Pantry is a non-for-profit organization that takes in donations of children’s items and donates them back out to the community.  Everything is given free of charge.  They are currently open year round on Wednesdays from 10am-2pm and Fridays from 10-11am.  They are located at 400 E. Gregory St., Mount Prospect, IL (224-715-4466).

They also have semi-annual giveaways in the spring and fall where all stock is set up in the gym.  They invite the community through multiple media outlets and word of mouth to come on a Friday evening and all day Saturday and receive what they need for free.

The Kid’s Pantry was started by two stay-at-home moms who have a passion for kids and the community.  Through the help of their church, they have been able to keep expanding, and to collect more items. Please visit them at their location, by email  (thekidspantry@gmail.com) or on Facebook to learn more about receiving from their collection or to offer donations.

By Patricia Smolin on August 31, 2012 Categories: Children