By Karen Bellenir
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Extra resources for Cash and Credit Information for Teens: Tips for a Successful Financial Life : Including Facts About Earning Money, Paying Taxes, Budgeting, Banking, Shopping, ... Avoiding Fin (Omnigraphics' Teen Finance), 2nd Edition
Workers, retired workers, and the spouses of workers and retired workers are eligible to receive Medicare benefits upon reaching age 65. Payroll Taxes: Include Social Security and Medicare taxes. Social Security Tax: Provides benefits for retired workers and their dependents as well as for the disabled and their dependents. Also known as the Federal Insurance Contributions Act (FICA) tax. ” Internal Revenue Service (IRS), December 12, 2007. Payroll Tax Rates ✤ It’s A Fact!! 50 to the federal government.
I’m starving after practice, I don’t have time to go home and grab a sandwich, and I didn’t pack one this morning, so I’ve got nothing to eat. If I don’t get some food soon, I’ll never be able to concentrate during my lesson. How’s that? Closer. You’re saying that you’re really paying for more than a box of skinny spuds. You’re paying for convenience. ) What good will five pounds of raw potatoes do you at this moment? But if you had rolled out of bed right away this morning, you would have had time to make a sandwich and throw in a drink, an apple, and a couple of granola bars.
You might even earn some money from siblings, if you offer to do some of their chores. Selling Things: If your closet or basement is full of belongings that you no longer need or want, consider selling them. (These might include toys, games, comics, and clothes. ) You could hold a yard sale in your neighborhood. You might even About This Chapter: “Ways to Save and Make Money,” © 2003 The Motley Fool. All rights reserved. Reprinted with permission. 24 Cash and Credit Information for Teens, Second Edition ✤ It’s A Fact!!