Cash, cheddar, bacon, dough and cha-ching rolls into student’s pockets and right out again, or at least that’s how it feels for me. It wasn’t always that way. When I was nine I realized how many coins I had compiled and asked my dad to start a bank account. “What kind of bank account?” he asked. I looked at him confused. As far as I knew, all you did with a bank was put money in and take money out, why would you need different kinds? I told him my piggy banks — emphasis on the ‘s’ — weren’t cutting it anymore; I needed an adult place to store my adult money, preferably not in nickels.
Of course, it was a savings account that I wanted, but the wonders of checking accounts and investment banking stood out as a marvelous way to manage my Christmas cash. Since then, I’ve worked jobs, started other bank accounts and bought a bit of stock, and each action felt like a step toward independence.
I like money. It’s my favorite root of all evil. For me, like many, it’s the gateway to independence. It means not counting on others for food, shelter or fun. Realistically, though, when college looms around the corner and real grown-up purchases after that, money becomes a stressor. The ever-present absence of what feels like enough ties you down. The necessity of making educated choices about cash presents itself.
My first job didn’t pay me for training, and if you’re thinking, “That must be illegal!” you’re right. Unfortunately, I didn’t know that at the time. Infographics about worker exploitation aren’t very popular on TikTok.
Unfortunately, reading up on labor laws, tax codes and IRAs feels like a slow trudge through financial jargon and legal speak, practically unintelligible for a teen whose prior knowledge on the subject comes from people’s complaints (and maybe a movie or two).
Hopefully, this column can clear up some common misconceptions about money as NC’s students begin to interact with it. Everyone deserves their full pay (and, call me crazy) a living wage, but along with that, they deserve the opportunity to optimize it. While it may feel like there’s a bridgeless rift between your graduation and the first house you buy or the time you can retire, understanding everything one can do with money helps lay the foundations to cross.
For those who want to read, each article will stay short and informative, backed by professionals but as boreless as I can make a paper on notes. I’ll incorporate infographics to keep the article digestible, after all, I struggle with big blocks of text as much as the next girl (sorry for this one by the way).
Hopefully, when this column concludes, NC’s student body will have a comprehensive guide to the capitalist world they are about to enter. While personal finance may feel like a mystery shrouded behind accountants’ and loan officers’ silhouettes, I’m here to (hopefully) shine a light in the shadowy areas teens seek answers on the most.
If you have any questions you want answered, feel free to submit them to the form here.
Rosalyn Schwanke
