I don’t know about you, but there are a lot of things I’d do differently when it comes to money management if I could do it all over. Tenaz Purdy and Michael Zisa, both Pennsbury High School teachers, are helping teens and young adults set themselves up for job success and financial security with their books, “Stand Out or Sit Down: Stories and Lessons for Teens and Young Adults to Find a Job They Love” (Purdy), “The Early Investor: How Teens and Young Adults Can Become Wealthy” (Zisa), and “The Family Investor: How Young Couples and Families Can Become Wealthy” (Zisa). I had the opportunity to chat with them about their books and their messages.
Read more below and join them for a book signing on Saturday, March 14th, 3-5pm, at the Commonplace Reader in Yardley.
What led you to write these books?
Both Tenaz and Michael were motivated to write a book by the suggestions of others. For Michael, it was a friend of his with whom he was discussing his Investment Management class, followed by another friend who didn’t believe that he’d actually self-publish a book about investing for teenagers; his friend’s doubt only served as more fuel for the fire and, today, he's got two published books with more to come (we hope).
For Tenaz, it was parents at Back to School Night who, upon hearing her speak passionately about the importance of employment for teens, told her she should “write a book about that.” Additionally, after the cancellation of Pennsbury’s Co-op program, and still receiving interest from employers in hiring students, Tenaz started the Job Hunting Club as a way to support students in their job hunt, helping with applications and resumes, while continuing to market her Job Posting Board website to employers. After realizing the amount of work required to continue these things was not sustainable, she wanted to create a more formal way to guide students in the job search process that would also have a wider reach. “Stand Out or Sit Down” is an excellent resource to take teens through the job hunt from learning to balance a job on top of school and other responsibilities, to searching for jobs, completing applications, preparing for interviews, and even the right way to quit a job.
What do you wish you’d known about work and money as teens?
Mike would have started saving and investing as soon as possible. His sons, now teenagers/young adults, already have investment accounts set up as a result of the lessons learned by their Financial Advisor Dad.
Tenaz emphasizes the importance of networking to open up employment opportunities. She reminds teens that every encounter, every contact, is a first impression and a potential connection in their job search.
How has the landscape changed for teens looking for jobs in 2020 versus 10 or 20 years ago?
With a 35% decline in labor force participation rate for ages 16 - 19, partly due to greater focus on academics, sports, and other extra-curriculars, young people, lacking a job history, are having a tougher time entering the full-time workforce. Tenaz advises teens to use technology cautiously, as well. While technology can be beneficial in the job hunt, it can also be dangerous if you don’t understand what you’ve put out there. Tenaz suggests that students scrub their social media accounts and learn how to use technology to their advantage by following companies of interest on social media, for example. Additionally, the move from in-person, paper applications to online applications has made it more difficult for candidates to stand out. Teens are generally hesitant to visit a potential employment location in person or even pick up the phone to call.
What is the best thing a teen can do to protect their future and set themselves up for financial success?
Mike suggests that teens start saving and investing now, even if it’s just $25 per month. An important piece of advice is to “pay yourself first” after receiving a paycheck, meaning take a portion out to save or invest and then use the rest to pay expenses. Another critical piece of advice...stay out of unnecessary debt, i.e. credit cards. Mike’s books provide general information about investment opportunities, such as stocks, bonds, and mutual funds, as well as how to accumulate money to invest in the first place.
If you could sum up your message in one sentence, what would it be?
Mike: Start now. The longer you delay, the less time you have for your money to grow.
Tenaz: Why it’s so important for young people to get a job… The skill involved in a young person being able to work and learn from and relate to people outside of their comfort zone is very important to do at an early age. It helps them learn how to balance home, school, and work life and helps them to become better-adjusted adults.
Do you have any other books in the works?
Tenaz has several ideas for upcoming books, such as a guide to understanding what employers expect and achieving success once you’ve landed the job. Another potential book topic for Tenaz is money management, helping teens understand their paycheck, what to do with their money, and taxes.
The next step for Mike is something along the lines of the “Budget Investor,” helping people prepare a budget and create a spending plan.
Be on the lookout for more from these two! A little friendly competition between them might just help turn their ideas into published works a little faster.
What are some of your favorite local spots in Lower Bucks?
Mike: Definitely Indian Garden restaurant in Yardley for me. Also, Venezia Pizza.
Tenaz: My favorite place in Bucks County is where I spend about 4 days a week, and that's on the tennis court! In good weather that's at Core Creek Park and in the winter months it's indoors at the Pennsbury Racket and Athletic Club. But my favorite Bucks Country memory of all times is spending summer afternoons feeding the ducks at Afton Lake when my daughters were little. (I like India Garden too.)
Follow Tenaz Purdy on Facebook and Instagram!
You can find “Stand Out or Sit Down,” “The Early Investor,” and “The Family Investor” (not just for teens!) on Amazon now, or on shelves at Commonplace Reader in Yardley.
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Author Bios
Michael Zisa received his Master’s degree in Mathematics Education and earned his Bachelor’s degree in Business Management. After 5 ½ years as a high school Mathematics teacher in New York City, Mike had a rewarding career as a Senior Financial Analyst at Bank of America. He was also a Financial Advisor for four years in Princeton, NJ before becoming an Independent Financial Advisor. Mike has been teaching Investment Management and Wealth Management classes at Pennsbury High School in Bucks County, PA since 2004, teaches Personal Financial Planning and Business Communications classes at a local college, and has developed numerous financial literacy curriculums. Additionally, he is a Certified Financial Education Instructor through the National Financial Educators Council (NFEC), a member of the Personal Finance Speakers Association (PFSA), and the Global Association of Teachers of Economics (GATE). Mike has written financial literacy articles for various publications, been interviewed by Forbes and U.S. News & World Report, and has been a keynote financial literacy speaker at numerous conventions. His hobbies include playing the guitar, exercising, traveling, and spending time with family and friends.
Tenaz Purdy was a Management Consulting and Information Technology business professional for 15 years but found her calling when she, at the age of 35, changed careers and became a high school business teacher. Although she loves being a classroom teacher, nothing was more gratifying for her than the seven years she spent running her school’s Co-op program, where students supplemented their academics with a part-time job. She earned a B.S. in Business and Marketing and an M.Ed. in Curriculum and Instruction. Because she’s not busy enough with a full-time job, raising a family, and writing a book, she’s also the head coach of the Girls’ Varsity Tennis Team. Her hobbies include traveling, binge watching great TV shows, and above all, spending as much time on the tennis court as possible. She lives in Bucks County, PA with her loving and patient husband, Steve, her two bright and talented daughters, Marisa and Samantha, and her needy dog, Jack, who loves her unconditionally.
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