Title: From Consumer to Producer: How High School Students Can Turn Their Simple Cell Phones into a Positive Cash Flow Asset:
Chairman Bob Sutton discusses the transformative power of cell phones for students to learn about taxes, productivity, and financial skills by transitioning from consumers to producers.
Author: Chairman Bob Sutton
Cell phones have become an integral part of our daily lives, and this is especially true for high school students. It's not uncommon to see a student's hands and face glued to their cell phone for over 8 hours a day. But have you ever considered how these simple devices can be a valuable tool for teaching financial skills and improving productivity? In this blog post, we will explore how students can transform their cell phones from a source of distraction into a tax-deductible business expense and a positive cash flow asset.
Understanding Tax Deductions.
It's essential for students to learn that not all cell phone expenses can be tax-deductible. As a teacher or a student, you cannot deduct the cost of your cell phone or your monthly bill from your taxes. However, when students begin using their phones as a tool for running a small business or creating content, the same device can become tax-deductible.
From Consumers to Producers:
High school students often spend a significant amount of time watching videos, browsing TikTok, and consuming other content on their phones. In this state, they are consumers, but with a little creativity and effort, they can transform themselves into producers.
Here are some ideas on how high school students can go from consumers to producers:
Financial Skills Content: Students can create and share content related to financial skills, budgeting, and saving tips. By producing valuable content, they become a trusted resource for their peers and contribute to their financial education.
Blogging: Starting a blog on a topic they're passionate about can be an excellent way for students to use their phones productively. By writing and sharing blog posts, they can develop valuable skills such as research, writing, and communication.
Video Production: Students can create videos on various topics, from tutorials to opinion pieces, and share them on platforms like YouTube. This can help them develop editing, storytelling, and public speaking skills, all while providing valuable content for their audience.
Small Business: With the help of their cell phones, students can start a small business, such as selling handmade items, offering tutoring services, or creating digital products. This can teach them essential entrepreneurial skills and generate a positive cash flow.
By shifting their mindset from consumers to producers, high school students can transform their simple cell phones into powerful tools for learning about taxes, productivity, and financial skills. By creating content or starting a small business, students can turn a negative cash flow into a positive one and gain valuable life experiences in the process.