High School Job Tax Returns (SUPER Important)

 High School Job Tax Returns (SUPER Important)

Written by: Beau B. 

Things like federal income tax, social security tax, medicare tax, and even state income tax all add up and over time take a nice hefty chunk out of each paycheck. Understanding how to file for a tax return is very important for anyone, but especially high school students! Getting a couple hundred dollars back at the end of the year rocks and for how little work it really is, everyone should do it. 

Initially thinking about doing your own taxes for the first time as a highschool student can seem extremely daunting (trust me I get it), but when it comes down to it, it can be very simple and done in only a few minutes. There is some basic information you’ll need however….

Every employer is required to give their employees a W-2 form (shown to the right) at the end of each year. This is a simple form with all of the essential information you’ll need. The first thing you’ll likely look for on this form is how much money you made in the last year. After a quick pat on the back for all your hard work you’ll begin to see statements in boxes like, “Federal income tax withheld” and “State income tax withheld”. Along with the same for both Social security tax and Medicare income tax. Under these statements will be numbers that represent the total amount of money withheld from your paycheck in the last year for their corresponding tax reason. You might notice that if you add all of those numbers up you’re out a couple hundred bucks from all of your hard work. 

This is why tax returns are so important, as a highschooler making not much more than minimum wage, you’re often able to get much of this money back. You are only technically required to file your tax return if you’ve made $12,200 working in the past year, however, according to the 1040 (which is explained further below) form instructions, “Even if you do not otherwise have to file a return, you should file one to get a refund of any federal income tax withheld.” So essentially, even if you’ve made less than the IRS minimum($12,200) you can get most or all of your withholdings back with a return. 

Now that you know all of the basic information that your W-2 form has provided you, you’re probably wondering how to get your money back. You’ll be thrilled to know that it’s actually fairly simple. The only thing you’ll need is a 1040 form (Linked here) where you should fill out all of the information needed. To me this is the hardest part of the whole process because the 1040 can get a little confusing, but if you just stick to it, you’ll be able to figure everything out. Another option is to use a free online system, I’ve used Turbotax (Linked here), it’s very easy to use, just sign up for a free account and the system will prompt you towards everything you’ll need to know and make the process very simple. Both options are valid but personally I recommend using Turbotax as it’s much more user friendly and intuitive for beginners! Tax return documents can be filed either electronically or via the mail, both work but filing electronically is less time consuming and much more simple.

Hopefully this can help you enjoy the fruits of your labor, happy taxing!

Works Cited

Brantley, Chris. “How to File Taxes as a Full-Time High School Student.” Pocketsense, 10 Jan. 2019, pocketsense.com/file-taxes-fulltime-high-school-student-20419.html.

Faris, Stephanie. “Do High School Students Have to File a Tax Return?” Pocketsense, 30 Oct. 2020, pocketsense.com/high-school-students-file-tax-return-8497.html.

“Free Tax Return Preparation for Qualifying Taxpayers.” Internal Revenue Service, www.irs.gov/individuals/free-tax-return-preparation-for-qualifying-taxpayers.

Stephen Fishman, J.D. “When Does Your Child Have to File a Tax Return?” Www.nolo.com, Nolo, 10 Apr. 2020, www.nolo.com/legal-encyclopedia/when-does-your-child-have-file-tax-return.html.

TurboTax – Taxes, Income Tax. “What Is a W-2 Form?” TurboTax Tax Tips & Videos, turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-a-w-2-form/L6VJbqWl5.

Why Shouldn’t Your Money Sit In a Bank ? (Generating a living off a million dollars)

 by Griffin Goyette 

One of the main issues today is the Americans lack of knowledge on how to make money grow. People work hard for their money to save for retirement but what happens to the money in the bank. When saving money in a bank you generate interest but is this really worth it. A million dollars in a savings account will generate about 1% interest of $10,000 but there are ways to make so much more than that a year without any effort at all. 

One way to make money grow is a municipal bond. This is when you as a citizen use your money as a loan to the government for projects such as building roads. Say you loan them 1 million dollars, you will see a 4-6% increase based on interest on your million dollars in one year. This means you just generated 50,000 untaxed dollars in one year. Bringing in 50,000 cash untaxed dollars is how much somebody with a 70,000 dollar salary brings home after taxes. This is just one way to make your money grow but there are ways to see even larger amounts a year.

If you want to possibly see bigger returns in your money and are willing to take a small risk a Index fund is for you. An index fund is a collective investment in the stock market but there is a much lower risk in this than investing into individual stocks on your own. On average an Index fund brings in 8 to 9% interest which from a million dollar investment is 80,000 to 90,000 dollars. This amount of money a year is a sustainable living wage.

The two methods are very important for Americans to learn because it is an easy way to grow money and retire earlier. It is just as important to save if you don’t save you won’t have any money to invest. Investing in either one of these options can allow for you to live a much more sustainable life. With a million dollars saved you can invest and make three times the average Americans wage for simply doing nothing. Relative to a million dollars this may not seem like a lot but if you bring in 90,000 dollars a year a retired person you probably won't spend all that 90,000 meaning your saving is going to keep growing and if you are still in the work force and extra 90,000 a year can help to retire even earlier and avoid from certain costs in life diggin into your savings. 

This process however is never ending. If you started with a million dollars and saw a 7% Interest rate in just 9 years you will have 2 million dollars doubling your money for simply investing. 

Works Cited 

“Mutual Funds - Guide to Types of Mutual Funds and How They Work.” Corporate Finance Institute, 14 Apr. 2020, corporatefinanceinstitutecom/resources/knowledge/trading -investing /mutual-funds/. 

Phillips, David, and Jk. “How Much Interest Does 1 Million Dollars Earn Per Year?” Engineer Your Finances, 14 Jan. 2021,www.engineeryourfinances.com/2020/11/much -interest-1-million-dollars-earn-per-year/. 

Turning 18 & Financial Stress

 by Gabriela Vasquez

    Turning 18 in the financial world can open doors to new financial opportunities. Even as an underclassman you should be informed about your financial future. Some exciting things you'll be able to do include independently and actively participate in stocks, open a Roth IRA, create a credit account/build credit score, and so much more! I will be discussing important information you should be educated about involving Roth IRAs, credit scores, stocks and how to manage stress relating to these new financial burdens. 

You may have heard your parents or grandparents talk about a Roth IRA; but what exactly is a Roth IRA. According to Schwab.com, “ A Roth IRA is a contribution of after-tax dollars, your money grows tax-free and you can generally make tax- and penalty-free withdrawals after age 59” (Figure 1). Now, this may be confusing at first so let's break it down. Let's say you get your $5,000 paycheck from work. You are taxed (for this example) 20% and are left with $4,000 in the bank. You put $500 in your Roth IRA which buys mutual funds, ETFs, and stocks. Over time when you add more money your Roth IRA will grow. In our example after 30 years your $500 will have turned into $704,275.29 (can all depend on stock market, contributions, etc). Now when you’re ready to retire above age 59, you are able to collect that $704,275.29 tax free (since you paid tax before your contributions). This is important for 18 year olds to know because the sooner you start adding contributions into your Roth IRA, the more money you will be able to collect for retirement. 

Did you know the average American carres $6,194 in credit card debit (Cnbc)? No one wants to be in debit but many will find themselves in debit regardless as seen in figure 2. Credit card debit can be prevented easily. When you apply to get a credit card you are asking your bank to loan money. You will start off with a small cap of money and your cap will increase as you pay back your loaned money. A credit score is a score indicating how reliable you are to repay a loan. A good credit score can get you airline miles, higher spending caps, higher priority when applying for rentals,and insurance and other discounts. When you are 18 you can start applying for credit cards. When you get your credit card it is recommended that you use it for small items you can definity afford when your payment is due. The more you are able to pay back on time, the higher your credit score will be. Many people will not be able to pay back what they owe resulting in a lower credit score and credit card debit. Now that you are educated on why credit cards and scores are important, it is crucial to start increasing your credit score as soon as you can. Applying for credit cards and paying your credit card bills promptly is a good way to ensure a good credit score right off the bat and can increase your quality of life and get benefits. 

Stocks can be a stressor for everyone. Majority of stocks can be predicted but what recent events have shown; the market can be very unpredictable (Figure 3) . Turning 18 means you can independently invest in stocks. When you buy the stock of a company you are simultaneously buying a share in that company. If the stock price goes up then you can sell that share for a greater price than what you bought it as. According to NerdWallet, the long term stock return is 10% which means if you invested $1,000 30 years ago it would be worth over $8,000 today. Investing in stocks can be a good way to grow your money. However, if the stock goes down then you also lose money. Investing in stocks with projected growth is a smart investment for any new investors (us). You must be smart with your money and do research on the history of stocks and others portfolios before you make an investment. The younger you are investing in the stock market, the more money you can ultimately grow. 

All of these financial strategies can become stressful for many. Even just thinking about it might make you anxious. According to HelpGuide, “Financial problems adversely impact your mental health. The stress of debt or other financial issues leaves you feeling depressed or anxious”. Money is a very important factor in life and so it's important to treat it as so. Financial stress can lead to unhealthy positive feedback loops that can be hard to break the cycle as seen in figure 2. It is important to start off with healthy and smart choices so 

we lessen the stress that comes from money. Even with most of us going to college soon, we have to worry about student loans, book prices, etc. It is important to have a budget and keep control of your money or your money will control you. You must create a healthy relationship with money by spending and saving wisely. When overwhelmed with financial stress, talking to a financial advisor might help you get support and advice. Keeping in check with your mental health and understanding when to ask for help is crucial. 

In conclusion I hope this article has given you more insight on upcoming financial opportunities on how to grow your money. I hope you were able to create connections with prior knowledge and relieve questions you might have had. It is our responsibility to take care of our mental health and realize our financial stress to prevent unhealthy loops. I hope you’ve become inspired to take initiative into your financial future. Below I have linked helpful resources if you are interested further. How will you take the initiative of your finances? How will you manage financial/general stress? 

Introduction to Stocks

What Is a Roth IRA? How Roth IRAs Work & How to Start One

Credit Cards 101

Dealing with financial stress

Works Cited

Coombes, Andrea. “Roth IRA: How Roth IRAs Work, How to Start One.” NerdWallet, 2 Feb. 2021, www.nerdwallet.com/article/investing/what-is-a-roth-ira.

“Dealing with Financial Stress.” American Psychological Association, American Psychological Association, www.apa.org/topics/stress/holiday-money.

Lambarena, Melissa. “Credit Cards 101.” NerdWallet, 26 Jan. 2021, www.nerdwallet.com/article/credit-cards/credit-cards-101.

Little, Ken. “An Introduction to Stocks to Get You Started.” The Balance, 28 Nov. 2020, www.thebalance.com/introduction-to-stocks-3141368.

awhite_credit. “Alaskans Carry the Highest Credit Card Balance-Here's the Average Credit Card Balance in Every State.” CNBC, CNBC, 1 Dec. 2020, www.cnbc.com/select/average-credit-card-balance-by-state/.

Does The Military Need All The Money They Have?

 By: William Castillo

An aspect to being an adult that almost nobody looks forward to is paying taxes, which require time, and end up taking some of your salary you worked hard for. However, the positive side of paying taxes is that education, roads, social security, medicare, and defense benefits are provided. However, this poses the question, does the United States really need as much money allocated toward the military as typical, which is 934 billion (Amadeo)? 

It is clear that the military is important for the US, not only to provide national defense, but also does it provide 1.4 million jobs (amount of active duty veterans), which is another benefit to the economy, as this limits unemployment. However, is 887.8 billion dollars allocated to defense a waste (National Priorities)? Globally, the USA spends the most amount of money on defense compared to any other country, and if you add up all of the rest if the global military spending amounts, they are not even 75% of the US’ spending alone, see figure below.. Whether we spend so much money as a fear tactic to show other countries our defense is strong, or to actually make productive use of this money, this amount is incredibly large compared to other important areas of society such as education. Regardless if you believe that this much money being spent on defense is necessary or not, the amount of waste that occurs simultaneously with always being war ready is unnecessary and it can be agreed that their funding is incredibly high. 

In reference to this waste, William Hartung, who is the Project Director of the Center for International Policies Arms and Security, states that there is an “excess of usable military equipment relative to any possible need” (Paulhus). It is understood that there needs to be capital allotment for non sustainable or reusable equipment such as fuel, electricity, salaries, and bullets, but with the amount only increasing in terms of spending, this is not necessary due to their needs already being fulfilled. This quote means that everything they might need, they already have, and their consistent budget allotment does not line up with this demand, which is much less than their supply. 

Not only do they already have access to their current necessities, the working paraphernalia that they do not use ends up wasted. Junkyards are where many planes, and other aircrafts like helicopters end up, and 410 tons of equipment that functions is burned daily (Paulhus). The equipment that can be used is wasted as they have a seemingly endless budget to purchase new equipment, proving their spending in vain.

In conclusion, with a less amount of money being allocated toward military spending, the amount of waste can be minimized, and have such money redistributed toward other programs that can better society. Although military defense is crucial in protecting citizens and providing jobs, their amount of waste is not good for the economy (as significant budget cuts can be made that would not affect them if proper spending occurred) or for the environment. Do you think that the military needs more or less funding? What reforms does the military fund need?

Works Cited

Amadeo, Kimberly. “Why Military Spending Is More Than You Think It Is.” The Balance, 3 Sept. 2020, www.thebalance.com/u-s-military-budget-components-challenges-growth-3306320#:~:text=Estimated U.S. military spending is,Defense alone 2.

Collins, Patrick. “Why Does the US Spend So Much on Defense?” Defense One, Defense One, 27 Jan. 2020, www.defenseone.com/ideas/2020/01/why-does-us-spend-so-much-defense/162657/.

“The Militarized Budget 2020.” National Priorities Project, www.nationalpriorities.org/analysis/2020/militarized-budget-2020/.

“Waste, Greed, and Fraud: The Business That Makes the World's Greatest Army.” The Institute of Politics at Harvard University, iop.harvard.edu/get-involved/harvard-political-review/waste-greed-and-fraud-business-makes-world’s-greatest-army.

Is “Artist” a Stable Career in Today’s Society?

 by Sasha Rolfsmeyer

Is “Artist” a Stable Career in Today’s Society? 

The stability of occupations within the art field has been topically questioned, as about around 120,000 art degrees in the United States are granted to college graduates every year. Yet, the term “artist” itself is vague, as there’s several platforms, media, and concepts to work with. People like Kristina Gonzales, a graphic and web designer, states that although degrees in sciences or businesses might attain an individual a lot of money as opposed to an art-related occupation, it doesn’t necessarily mean you’ll be the happiest. “Yes,” she states, “an art degree can be more challenging but it's more the person and your connections than the actual degree. If you challenge yourself to grind away and also build reputable contacts then you won't worry about being an artist”. She goes on to say that creating a diverse portfolio combined with involved experience will set an artist up for success.  

The information shown in the graph derived from the Bureau of Labor Statistics depicts sample salaries of topical art jobs. Ellen Rosenthal, a retired art educator from Woodbridge, Virginia, also states that art jobs don’t have to be “financial suicide” as long as you look in the right places. 

The Art Field is More Successful Than the Science Field 

The value in work is often measured by enjoyment, but is there any factual evidence that “art” would be a stable field to immerse yourself into? 

An important study to consider: the Strategic National Arts Alumni Project (SNAAP) conducted a trained artist survey to examine how many graduates have succeeded within the art field after college. In fact, the statistics are astounding: “70% of graduates have found jobs within the arts, 75% have been or are self-employed, [and] 99% consider creativity to be an important competency in their profession” (Goins). In comparison to the science field--which circumvents technical, mathematical, engineering and science degrees--75% of graduates are not employed within the parameters of their original degree, according to the 2014 US Census Bureau. From this information, most artists aren’t “starved” even though the public perceives them to be. 

Stable Art Careers 

In case you’re interested in getting into the art field of work, here are a few jobs the U.S. Bureau of Labor Statistics (BLS) deemed to be “stable art career options” (study.com):

You can also visit websites like artjobs.artsearch.us and flexjobs.com for more information and opportunities. 

Works Cited 

Goins, Jeff. “The Arts Are a More Secure Career than the Sciences - Here's the Proof.” Medium, Medium, 24 June 2017, medium.com/@jeffgoins/want-greater-job-security-become-an-artist-seriously-635e63b34c30.

Reid B. Student   Pearl City, et al. “Is There Such Thing as a Stable Art Career?” CareerVillage, 31 Aug. 2017, www.careervillage.org/questions/66788/is-there-such-thing-as-a-stable-art-career.

Study.com, study.com/articles/stable_art_careers.html. 

Investment options- Discovering the best option for you

 by Ben Young

No matter what stage of life you're in or path you decided to take, everyone needs money. Whether to pay the bills, pay off debt, save up for a stress-free retirement, or simply to have a little money to treat yourself with, we all find ways to pay for these things. What often comes to mind first is your job(s). Exchanging your time, experience, etc for money. But what if you have a little extra saved up and want to make that money work for you? Well, that’s what investing is all about! 

Before we dive any further, let's talk about investing vs saving. It isn’t uncommon for these terms to be thrown around interchangeably, but knowing the differences between them can help you better understand what you’re doing with your money. 

Saving- This can be thought of as purposefully setting aside money that you've decided not to spend. This can be considered one of the most risk-free options considering the fact you’re not risking anything. It’s purely setting aside money and letting it sit there. As is with the nature of savings, since there is no risk being placed, there is no “reward” to be reaped. Oftentimes you may see banks( whether physical or digital), offer interest as a way to attract and retain customers. The interest rates that they provide are exponentially smaller than return rates you might find with investment options. With banks that have physical buildings, you can normally see percentages from .01% to .1% with the national average being .05% annual return/ interest rate. Then there are other banks that exclusively operate digitally without having to maintain physical locations- passing on the savings to you. With these digitally operated banks, you can see interest rates anywhere from .4% to as high as .65% with the average hovering around .5%.

Investing on the other hand is where you are purposefully allocating money to be spent in hopes of growing that money (oftentimes long term). In an extreme exaggeration, think of this as money you are- to an extent- willing to lose. 99% of the time this isn't the case but since you are spending money compared to purely saving it, you run the risk of losing all grains or potentially losing money depending on the investing options. The main point to understand with investing is that you are able to make your money work for you. Being able to develop additional sources of income to supplement or in rare instances, entirely replace your main source of income. Passive income is a way to effectively make money even when you're not working. It’s like having another you that works while you sleep or are on vacation. By doing so, you can expand the potential that you have to grow financially while retaining a work/ life balance since you don’t need to sacrifice more hours working when you could be doing other things. 

While investing is a very broad term, I’ll be breaking it down into some of the common and well-used investing paths people go down. 

Before I explain the various options, always remember to diversify your portfolio. Don’t exclusively invest in real estate or exclusively stocks. By not placing all your eggs in one basket, you are better able to financially stabilize yourself if the economy or housing market were to encounter times of extreme volatility or uncertainty. 

The first option is buying physical resources like gold, silver, etc. These options are extremely stable and off around 3% in returns. I would group these with government bonds as they offer very good stability while providing very low returns as a result of the stability. Within government bonds, You can expect a ~1.25% annual percentage rate (APR)  for a 30-year bond. 

The next option is investing in mutual funds & index funds. They are in essence a small cheese board of stocks all bundled together. A well-known Mutual fund is FANG or Facebook, Netflix, Goggle (alphabet). These mutual funds allow you to have a diverse stock portfolio. In comparison, Index funds are funds that track the growth of the entire stock market as a whole, regardless of sector. Usually, you can expect an average of 7%-12% annually. The only downside to this option is if there is an unexpected downturn in the economy and it changes from a bull market to a bear market. 

The last option I will be talking about is individual stocks. This is where if you don’t do your homework you will be paying the price (quite literally). Stocks are one of a few options where you could lose a significant amount of money or make a significant amount. The percentages can range from anything you can think of. A prime example would be Gamestop (GME), People who did their homework early on and invested at $15 stood to make well over $400 per share at its peak. While others invested at $400+ and lost most of that money. You could easily lose your entire investment on a single mistake. This option requires a large amount of your time dedicated to understanding all the terms and concepts so can be intimidating for people starting out. But after you understand the basics terms and concepts, you can start investing using any well-capitalized brokerage like E-trade, Vanguard, TD- Ameritrade, etc. 

Although I only list a few options for investing, there are a plethora of other avenues like investing in real estate, cryptocurrencies like bitcoin, ethereum, etc, among many others. But regardless of the ones you pick, always do your research and find the best one that fits your wants and needs. 

Works Cited

Goldberg, Matthew. “How Often Do Treasury Bonds Pay Interest?” Bankrate, www.bankrate.com/investing/how-often-do-treasury-bonds-pay-interest/.

Lauren Perez, CEPF® “What Is the Average Interest Rate for Savings Accounts?” SmartAsset, SmartAsset, 27 Jan. 2021, smartasset.com/checking-account/average-savings-account-interest.

Norrestad, Published by F., and Nov 16. “Gold vs Other Assets: Average Annual Returns 1971-2019.” Statista, 16 Nov. 2020, www.statista.com/statistics/1061434/gold-other-assets-average-annual-returns-global/

O'Shea, Arielle. “How to Invest in Stocks: A 6-Step Guide for Beginners.” NerdWallet, 11 Feb. 2021, www.nerdwallet.com/article/investing/how-to-invest-in-stocks.

Yochim, Dayana. “Index Funds vs. Mutual Funds: The Differences That Matter.” NerdWallet, 11 Feb. 2021, www.nerdwallet.com/article/investing/index-funds-vs-mutual-funds.

Budgeting in the Age of Information

Diana Calderon

February 16th, 2021

The internet is flooded.

Waves upon waves of content exist in the corners of the world wide web, available to anyone with the means to access it. Content creators arise from every side of the globe, creating data that feeds into the flooding of the cloud. Thousands of these content creators work for profit, creating information as a full time job. How do content creators balance their income? What are their main expenses in their quest to entertain millions?

Today I will take a deep dive into the budget of digital celebrities. 

The Online Income

In a personal blog from online writer Ish Baid, three ways of making digital money as stated, “advertisements, donations, and sales.” These three show that there are not many ways for content creators to create income, but due to the success of the age of information, plenty of creatives have become full time in their craft. 

Advertisements can be broken into two categories -- pure ads and sponsorship. Pure ads do not wield much rewards, but have brought a new wave of custom information fit for monetization. For example, free music streaming services such as spotify now force their listeners to experience ads before a half hour of free content. Video platforms such as youtube allow content creators to put two ads in monetized videos over 10 minutes long, creating a new age of video production with longer segments of data. 

And brands are leaning into this age of information. Brand sponsorships are up, as consumers are “10x as likely” to buy a product promoted by their favorite digital celebrity. SOme companies, like Squarespace have grown their awareness solely through digital means-- becoming a new type of digital entity. These are companies that everyone knows, they are talked about so frequently by the entertainment that is widely consumed that they become a constant option in the back of the minds of millions. 

Some content creators have made their audience into more of a community, offering paid experience in addition to the free videos, songs, podcasts, or other media uploaded to common streaming platforms. And that's where the market for patreon comes in. Patreon, and other similar sites, allow users to become closer to their digital celebrities. One example of this occurrence is my favorite underground pop punk band, a small group from Canada, Hazel. Hazel had a promotion on their first merch drop that if listeners bought any item before February, they would be welcome into the “Cvlt”. The Cvlt is a section of the bands website dedicated to new merch drops and early song releases. It becomes more than a digital community-- it becomes an online club. 

Other bands, podcasts, video creators and bloggers have similar platforms, offering additional content for monthly fees. 

Finally, there are merchandise sales. While these do have some outgoing expenses in product and design, the return is high for those with personal brands. 

Content Creator Expenses

How much of this income is spent to continue creating content?

The biggest set back for content creators is the content itself. These creatives must habitually find new topics of interest, and experience new experiences. This costs money, depending on the exact industry and market per content creator. Some are travel bloggers, other's make baseball news podcasts from their bedrooms. 

The next expense for content creators is the expense for making quality data. Better cameras, microphones, drawing tablets, instruments -- these all contribute to the expenses of your favorite digital celebrity. 

The last main expense for content creators: marketing. There are thousands of ways to grow content creation, but for this example, I’m focusing on the most well known content creation, youtube videos. The best marketing strategies come from the videos themselves. On a website dedicated to helping content creators, “short, concise titles” and “custom thumbnails” are the most recommended techniques for growing the audience. For some creators, that means outsourcing editing and thumbnails to other creatives. For other's, that means spending time and money to further their videography and graphic design skills. 

Works Cited

“23 Smart Ways to Promote Your YouTube Channel.” Social Media Marketing & Management Dashboard, Ryan Holmes, 4 Nov. 2020, blog.hootsuite.com/how-to-promote-your-youtube-channel/. 

Baid, Ish. “The Only 3 Ways to Make Money as a Content Creator.” Medium, Better Marketing, 22 Aug. 2019, medium.com/better-marketing/the-only-3-ways-to-make-money-as-a-content-creator-fcf5e0e2398d#:~:text=There%20a%20ton%20of%20ways,to%20some%20niches%20than%20others. 

Selling Artwork Online - How to Determine the Right Option for You

Sara Lachajewski

If you’re a young artist like I am, you’ve probably considered selling your artwork online to make some extra cash. You may also get stuck on researching and determining how to sell. Deciding between the many methods of selling art online may seem overwhelming now, but I am here to help you understand how to make this decision.

There are many great aspects of selling on print-on-demand websites. Selling on print-on-demand websites is arguably the easiest way to sell artwork. All you have to do is upload a two-dimensional design (which is generally free of charge), and the print-on-demand company will put it on shirts, hats, mugs, and other goods as people buy them; you aren’t responsible for shipping, production, or customer service.  Another benefit is that many print-on-demand companies are partnered with pop-culture brands, allowing you to design merchandise for some of your favorite shows, movies, and musicians. For example, TeePublic allows you to sell designs based on Jurassic Park, Adventure Time, and over 50 more brands.  There are disadvantages to using these websites though; unfortunately, little of the profit made on these sales goes to the artist. Additionally, this method limits you to only selling your two-dimensional designs rather than any three-dimensional artwork or crafts. Also, though selling on an already-established website helps reach more people, there are many other designs you have to compete with.  For example, Gareth Willey, a casual seller on print-on-demand website RedBubble, said he has only made about $200 in his three years as a seller. 

Unlike print-on-demand websites, marketplaces like Etsy allow you to sell all things art, including but not limited to prints, sculptures, canvases, keychains, and even plushies. Similarly with print-on-demand websites, selling on marketplaces makes it easier to reach customers but you also have lots of competition. Etsy, for example, advertises its users’ products on Google free of charge. When selling this way, you are responsible for production and shipping. Unfortunately, this also means that you are legally responsible and can be sued for any damages caused by the product; to prevent this, you should be very careful when choosing what to sell and look into purchasing product liability insurance. Etsy, one of the most popular art marketplaces, takes a small transaction fee, but they also offer their sellers discounted shipping prices.

 Selling on your own art website is best for established art sellers. The benefit of having your own website is the ability to customize the appearance, which allows you to tell your story, brand your shop, and make your shop stand out. You also don’t have to pay individual transaction fees, as you have to handle the transaction yourself. This may not be worth it for beginner sellers, as it is expensive to set up and you must pay whether or not you get sales. Additionally, you have to market on the side to get people to see your products. It’s more work to have your own site, because you are responsible for all of the marketing and the maintenance of the website. As with selling on a marketplace, you are responsible for liabilities, so if you are established and have the extra money for product liability insurance, it would be a good idea to invest in it.

Each way of selling art online has advantages and disadvantages, and you should make your decision based on your circumstances and goals as a seller. Now that you have been introduced to each method of selling art online, you are more informed on making this big decision.

Works Cited

“6 Reasons Sellers Choose Etsy.” Forbes. 4 Mar. 2015. https://www.forbes.com/sites/quora/2015/03/04/6-reasons-sellers-choose-etsy/?sh=46409ce3344e. Accessed 12 Feb. 2021.

“Create a T-Shirt.” TeePublic. https://www.teepublic.com/signup/designer/sell-art-online. Accessed 12 Feb. 2021.

“Current Brand Partnerships.” ZenDesk - TeePublic. https://teepublic.zendesk.com/hc/en-us/articles/360024966893-Current-Brand-Partnerships. Accessed 12 Feb. 2021.

Daigle, Jeff. “Marketplaces vs. Your Own Website: Where Should You Sell?” Denver Business Design Consulting. https://dbdc.us/articles/marketplace-vs-website/. Accessed 12 Feb. 2021.

“Etsy vs. Your Own Website: What's Best for Artists & Makers?” Design ByRosanna. 13 Apr. 2019. https://www.byrosanna.co.uk/blog/etsy-vs-website. Accessed 12 Feb. 2021.

Steiner, Ina. “Etsy, Seller Sued after Heartbreaking Death of a Child.” eCommerce Bytes. Steiner Associates, 7 May 2019. https://www.ecommercebytes.com/2019/05/07/etsy-seller-sued-after-heartbreaking-death-of-a-child/. Accessed 12 Feb. 2021.

Which Form of Financial Aid Will Benefit Me Most?

 Title: Which Form of Financial Aid Will Benefit Me Most?

Topic: Financial aid opportunities for prospective college students.

Written by: Kaylie Walters 

College is a scary obstacle. Any student, like me, who wants to go to college after highschool is probably terrified of the almost guaranteed debt that’ll come with it. This year, there’s a total of $1.7 trillion in total student debt in the United States, with an average of $37,691 in debt for 45.3 million students studying in America according to educationdata.com. 

According to the U.S. News, “About half of current students said student loan debt is making them reconsider finishing college.” This makes me wonder, as a prospective student, is there no way to avoid this debt? What can I do to avoid it? Well, as it turns out, if we’re just a little bit more financially literate and strategic, we can find a way.

https://thecollegeinvestor.com/21868/financial-aid-award/ (website for image)

Scholarships:

We’ve all heard of scholarships by now, but how much do we really know about it? Scholarships have seemed far out of reach for many students, including me. If you don’t already know, scholarships are a financial aid opportunity you can apply for. Awarded scholarships are typically determined by a student’s demonstrated academic merit. However, there’s a general misconception that only the best students can apply and be awarded with a scholarship. This is not actually true! 

There are thousands of scholarships that you can apply for in the United States, so there’s an opportunity for just about anyone. Candidates definitely benefit from having an impressive G.P.A. and academic record, but even those of us who have a 2.0 G.P.A. have the chance to get a scholarship. Scholarships are a free form of financial aid which are awarded by a merit based system which focuses on academic achievements, extracurricular activities, your field of study, etc. According to CNBC,  “Each year, more than 1.7 million private scholarships and fellowships are awarded, with a total value of more than $7.4 billion.”

If scholarships are something that interests you, consider looking at scholarships.com to see what scholarships in the United States you may be eligible for, or consider conferencing with your guidance counselor.

https://educationdata.org/financial-aid-statistics (website for diagram)

Student Grants (Pell Grants):

Now obviously, not everyone is going to get a scholarship. But there are other options as well: one being student grants. Pell grants are awarded to students who are financially strained, using a student’s E.F.C., or expected family contribution, to judge how much money should be awarded to students who apply. This means that any student of a family who earns $30k or less per year will be eligible to receive a full student grant, with a chance for qualification for some funding with a family income under $60k. Even though 41% of undergraduates each receive an average of $5,179 in federal grants, each year $2 billion in student grants are left unclaimed (out of $32 billion offered) according to educationdata.org. This means that you will have a good chance of receiving a grant, especially since not all of the available grant money is even being used! Student grants are similar to scholarships in that neither require repayment after receiving the donation, as long as the money is used for its intended purpose. Their main differences, though, is that grants have a maximum funding per student of $6,495 (for the 2020-21 school year), and that grants don't strictly base their awards off of student academic achievements like scholarships tend to. So, if your family’s income is $60k or lower, it would likely be worth your time to apply for a grant. 

Student Loans:

Student loans are an opportunity which, unlike scholarships and grants, requires repayment of the loaned money, often with considerable interest. Lenders who provide these opportunities often aren’t choosy, which makes it a great opportunity for those who will not be receiving a grant or a scholarship.

 https://educationdata.org/student-loan-debt-statistics (website for diagram)

It is commonly debated whether student loans are a good or bad investment. According to author Paul Sisolak on studentloanhero.com, student loans can very well be both a good and a bad investment, depending on how it is handled. ‘Good debt’ is described as debt that increases in value over time. Take, for comparison, buying a new home over a new car: The home will likely increase in market value over time, while the car will automatically be worth less once you drive it off the lot. The determination of the debt coming from student loans is the same; trying to determine the worth of gaining debt. When considering whether debt is good, consider this: Leslie Tayne, a debt resolution attorney at New York-based Tayne Law Group, described good debt as “a debt that you can easily maintain in your budget and debt that has given you a benefit.” To conclude, when determining whether your debt gained by student loans will be worth it, determine whether the amount of debt is something you will be able to earn back in the near future, and whether the debt is actually benefiting you. Specifically, think about your resolve for college -- will it be worth it? 

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There are other forms of financial aid, which are used less often, such as the work-study program. The work-study program offers part-time work for students enrolled in post-secondary education, in which college will pay you for your service. If this interests you, look at what your specific college(s) offers, as every college has different opportunities. 

When planning your college debt, it would be most beneficial to apply for both scholarships and grants (if you’re eligible), before applying for a loan. Especially since scholarships and grants can be stacked together without reduction in awarded funds. 

I highly recommend applying for FAFSA (Free Application for Federal Student Aid). This is a free opportunity provided to prospective students from the government to see what financial aid opportunities the colleges you are interested in have to offer you. The application for the 2021-2022 school year opened on October 1rst, and it will close on June 30th 2020 -- this is a large gap of time to apply. Be careful, though, as the sooner you apply, the more potential financial aid you may receive. 

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In conclusion, It is necessary to consider your current situation when preparing for college when committing to a form of financial aid, as well as college in general. What are your academic achievements thus far? Will you parents be paying for your tuition? And above all, are you sure that college is the route you want to take? Many student grants and scholarships only offer their donations for four to five years, so there is little room for indecision. Student loans will keep adding up as well. “According to the National Center for Education Statistics, just 41% of first-time full-time college students earn a bachelor's degree in four years, and only 59% earn a bachelor's in six years, driving up the cost of attending college significantly.” This may be a clear indicator of why so many students experience as much debt as they do, so make sure you don’t fall into the same trend, whichever path you choose to take.

https://www.petersons.com/blog/the-financial-aid-effect-on-early-decision-and-early-application/ (website for image)

Work Cited:

AbigailJHess. “Graduating in 4 Years or Less Helps Keep College Costs down-but Just 41% of Students Do.” CNBC, CNBC, 20 June 2019, www.cnbc.com/2019/06/19/just-41percent-of-college-students-graduate-in-four-years.html#:~:text=According%20to%20the%20National%20Center,cost%20of%20attending%20college%20significantly.

Bustamante, Jaleesa. “Student Loan Debt Statistics [2021]: Average + Total Debt.” EducationData, 11 Feb. 2021, educationdata.org/student-loan-debt-statistics.

Federal Student Aid, studentaid.gov/understand-aid/types/work-study.

Hanson, Mel. “Financial Aid Statistics [2021]: Average Aid per Student.” EducationData, 6 Feb. 2021, educationdata.org/financial-aid-statistics.

Nadworny, Elissa, and Lauren Migaki. “FAFSA Applications Are Open. Here's How To Fill It Out This Year.” NPR, NPR, 22 Oct. 2020, www.npr.org/2020/10/20/925739424/fafsa-applications-are-open-heres-how-to-fill-it-out-this-year.

Scholarships.com. “Academic Scholarships and Merit Scholarships.” Scholarships for College Free College Scholarship Search 2020-2021, www.scholarships.com/financial-aid/college-scholarships/scholarships-by-type/academic-scholarships-and-merit-scholarships/.

Sisolak, Paul. “Are Student Loans Bad or Good Debt? Here's What You Need to Know.” Student Loan Hero, 27 Nov. 2020, studentloanhero.com/featured/student-loan-debt-good-bad/.

“Student Loan Expectations: Myth vs. Reality.” U.S. News & World Report, U.S. News & World Report, www.usnews.com/news/blogs/data-mine/2014/10/07/student-loan-expectations-myth-vs-reality#:~:text=The%20standard%20repayment%20plan%20for,is%20forgiven%20after%2020%20years. 

The 1896 Presidential election: A War over Inflation

 The 1896 Presidential election: A War over Inflation

Jack Howard

One of the biggest problems facing any economy is successfully managing inflation, the rise in prices over time. Many different economic actions can cause and get rid of inflation, but this problem really isn’t on the minds of ordinary people all too often in our modern world. Inflation is something that the government corrects, so we aren’t that focused on it like we are unemployment or GDP. With that in mind, I want to take you back to a time in America where the average person had a lot to say about inflation; where inflation was THE issue of the day so we can understand inflation better. Where better to do that than in 1896?

In 1896, former Republican Governor of Ohio William McKinley faced off against Nebraska Representative William Jennings Bryan. The backdrop of this election was the Panic of 1893, an acute economic depression which began in, well, 1893. Due to a series of failed foreign investments and the USA’s export-driven economy, the economy started to shrink as banks failed due to unsuccessful investments. President Grover Cleveland successfully repealed the Sherman Silver Purchase Act, which got rid of the Government’s commitment to use silver to back the Dollar. Unpegging the Dollar to silver ended the initial surge of inflation caused by the depression and left America solely of the Gold Standard. The deflation that resulted from this action caused the cost of living in urban areas to decrease, making lots and lots of people happy.

Now, to truly understand why people cared that much about inflation and gold I must explain the Gold Standard. When a currency is tied to a metallic standard, like gold, that is saying that any currency is backed by said precious metal. If you wanted to, you could walk into any bank and ask to convert your paper currency into its equivalent in gold bullion. This has two main benefits to an economy: It stabilizes a currency to a set value, so purchasing power doesn’t fluctuate and in the case of a recession you still have your amount of savings in gold. The second benefit is that it controls inflation and spending because the government cannot print more money than they have backed by gold, so governments wouldn’t have that much budgeting trouble and their currency would be rather deflated compared to those without a Gold Standard.

(In 1970, the USA ditched the Gold Standard under President Nixon. As you can see, without a Gold Standard governments can have more money to spend and more money can exist, at the cost of a greater possibility of inflation. This is why some influential people want to return to the Gold Standard today, but we spend way too much money to make that possible at this point.)

This deflation, however, did not please everyone. Farmers were very upset at the continuing deflation of the Dollar, and for good reason. Inflation benefits debtors and industries where the price of products rises faster than the wages of workers, both of which applied to Agriculture. This period of deflation meant that farmers who were in debt due to purchasing farming equipment had increasing interest rates that they had to pay back, and the price of crops was falling faster than the wages of workers, thus farmers made lower and lower returns on crops and many had to go out of business.

The agrarian anger and continued recession boiled over in the Democratic National Convention and local democratic primaries, where pro-gold candidates were defeated by pro-silver candidates. The DNC, in a contentious election, nominated the Populist and Progressive William Jennings Bryan as their candidate. William Jennings Bryan advocated for Bimetallism, or reintroducing silver into coinage and making the Dollar pegged to both Gold and Silver. Since in the Gold Standard you cannot have more money than gold, changing the standard to both Gold and Silver would create more possible money to exist and massively inflate the currency as there is a lot more silver in the world than gold. This increase in the money supply of the Independent Treasury would increase inflation dramatically, helping Bryan’s farmer and miner base.

Unlike the DNC, the Republican National Convention was much more straightforward, with William McKinley easily winning the nomination. He supported the purchasing of more gold to slightly increase the money supply and give the US economy a little push in the right direction, and the implementation of high tariffs on foreign business that Grover Cleveland got rid of, which would protect American businesses and industry and thus create better-paying jobs for the working class. McKinley focused his campaign on spreading the message of how purposely inflating the dollar would hurt people of all economic status alike, by raising the prices of living across the country and making everyday products cost more.

As you can see here, McKinley’s message won out over William Jennings Bryan’s populism. This election was a realigning election as many pro-gold democrats permanently switched to voting for Republicans and farmers were now a toss-up demographic. William McKinley would be inaugurated in 1897 and fix the Panic of 1893 with his policies. Ironically, McKinley and Bryan would face off again in the 1900 presidential election, with McKinley winning by a larger margin. Sadly on September 6th, 1901, President William McKinley would be shot and killed in Buffalo, NY by anarchist terrorist Leon Czolgosz. His Vice President, one Theodore Roosevelt, would take office and be president until 1909.

In conclusion, the election of 1896 was one of two different philosophies on inflation; it was a fight between inflation and deflation, between farmers and urbanites, between gold and silver. Who knows what would have happened if William Jennings Bryan won the election and instituted his policies of bimetallism and Greenback Currency. This was a time in American history when everyone knew and debated about inflation. What do you think would have happened with the purposeful inflation? Or about the gold and/or silver standard? Thanks for reading!

Works Cited

The Editors. “United States Presidential Election of 1896.” Encyclopædia Britannica, Encyclopædia Britannica, Inc., 2018, www.britannica.com/event/United-States-presidential-election-of-1896. 

Pruitt, Sarah. “The Contentious 1896 Election That Started the Rural-Urban Voter Divide.” History.com, A&E Television Networks, 5 Aug. 2020, www.history.com/news/rural-urban-divide-1896-election. 

Gevinson, Alan. “Silverites, Populists, and the Movement for Free Silver.” Teachinghistory.org, teachinghistory.org/history-content/ask-a-historian/25222. 

Lioudis, Nick. “What Is the Gold Standard?” Investopedia, Investopedia, 2 Dec. 2020, www.investopedia.com/ask/answers/09/gold-standard.asp.