8 Ways To Introduce Your Children To Money

Early lessons in Finance can last a lifetime. In a world where money and finances present so many decision making situations to a person’s day, it is important to educate, motivate and empower your children to become regular savers and mini investors. It is vital to teaching the ‘value of a dollar’ as your parents did for you, as their parents did for them.

There are simple ways to introduce finance to your children at an early age which will undoubtedly help their economic development.

  1. Can your child count?
    Introduce them to counting by using money. Observation and repetition are two proven ways children learn in their early years. Continuing money counting exercises with your children will reinforce the importance.

  2. Communicate regularly with your children about finances
    Schedule a regular time for family discussions about finances. This is especially helpful to younger children, as it can be the time when you pay their pocket money or interest on their savings at home.

  3. Teach them how to set financial goals
    A piece of advice I was once given was ‘You can never reach a goal you don’t set’. New toys and theme park adventures are perfect for goal-setting exercises and carry much value for kids!. Doing this demonstrates the importance of the time and effort it takes to reach goals as well as the sense of achievement in attaining them.

  4. Talk about the value of saving versus spending
    Explain and work through how money saved earns interest. You can get your children to help calculate the interest on their savings on a monthly basis. This way they can see for themselves how fast money accumulates through the power of compound interest.

  5. If you give your children pocket money, give them the money in smaller denominations
    If the weekly amount is $10, think about giving them a $5 note and the rest in coins. This will encourage at least some (hopefully the $5 note) to be set aside into the ‘savings’ tin. This will show your kids how a little bit now can grow to a lot down the track! (Saving $5 a week at 6 percent interest compounded quarterly will total about $266 after a year, $1,503 after 5 years, and $3,527 after 10 years!)

  6. Make a trip to the bank and get your children to open their own savings account
    Opening an account and understanding the mechanics of a bank will stay with your children forever. Having their own account can also encourage further saving and having an account book and a running tally will help your children see their money grow.

  7. When the time comes, allow your children to make choices around spending
    Your children will learn from their spending choices, whether this is a positive or negative experience. It is up to you to discuss the pros and cons of the spending decision and ask what they could have done differently.

  8. Introduce the implications of borrowing and paying interest early
    If your children ask you for an advancement on their pocket money or a loan for a new skateboard, sit down and explain how you are going to charge an interest rate (albeit small) on the amount. They will learn quickly how borrowing is not free and may significantly increase the end price of what they wish to purchase.

Kids are never too young to start learning money lessons. The more opportunities they have to work with money and manage it, the more money savvy they will be as adults and hopefully the less reliant they will be on you!

Source: www.lifebalance.com.au


Time and Eternity

 I Should Not Dare

I should not dare to leave my friend,

Because if he should die

While I was gone and I -too late,

If I should disappoint the eyes

That hunted, hunted so, to see

And could not bear to shut until

He noticed me, -he noticed me,

If I should stab the patient faith

So sure I’d come -so sure I’d come

It listening, listening went to sleep

Reciting my tardy name.

My heart would wish it broke before

Since breaking then, since breaking then,

Is useless as next morning’s sun

To erase a midnight’s tear.

-Emily Dickinson

I Have Always Depended On The Kindness of Strangers

Sometimes in life we meet those rare people who are so generous to us and yet expect nothing in return. The other day, after experiencing a random act of kindness it got me thinking about why people are so generous…

I had tickets to see The American Ballet Theatre perform Swan Lake. Unfortunately, a few days before the show I realised I could not attend. As you could imagine I was very upset to have missed the show and really could not afford to buy another ticket. Little did I know where my fate was actually headed.

A few days after the show I was meant to attend, one of the trustees for The American Ballet Theatre dropped into my work. After chatting for while, the gentleman soon became aware of my situation and how devastated I was for missing Swan Lake. As my fate would have it, the gentleman offered me a complimentary ticket for the following day matinee of Swan Lake. At first I could not believe this was actually happening and thought that maybe this was a scam. Though, sure enough my ticket was at WillCall the next day. The following day the gentleman came back into my work and offered me another ticket to see The American Ballet Theatre perform their other show, Three Masterpieces for the Sunday Matinee.

These random acts of kindness got me thinking, was the gentleman just this generous? I mean there was nothing in it for him as he was a middle aged gay man. Did he just have that much love for ballet and believe others should share his passion too? When we look at the psychological effects of kindness it is suggested that receiving a warm reaction and knowing that you have helped someone ease loneliness or helplessness this can (and should) give you personal satisfaction.  A sense of exhilaration and euphoria may also add a heightened sense of well-being. Additionally, dopamine is released in the brain, which is the neurotransmitters that are realised during pleasurable situations, and stimulates one to seek out the pleasurable activity or occupation. So perhaps this triggers one to perpetually perform acts of kindness.

However, could my fortune actually be a combination of fate? Destiny or fate is said to be a predetermined course of events that we are meant to endure. Was it actually my fate to see the American Ballet Theatre? Was it because said gentlemen just wanted his dopamine fix? Or was it my karmic connection?



Time In A Bottle

If I could save time in a bottle

The first thing that I’d like to do
Is to save every day till eternity passes away
Just to spend them with youIf I could make days last forever
If words could make wishes come true
I’d save every day like a treasure and then
Again, I would spend them with you

But there never seems to be enough time
To do the things you want to do, once you find them
I’ve looked around enough to know
That you’re the one I want to go through time with

If I had a box just for wishes
And dreams that had never come true
The box would be empty, except for the memory of how
They were answered by you

But there never seems to be enough time
To do the things you want to do, once you find them
I’ve looked around enough to know
That you’re the one I want to go through time with

A Dream Within A Dream

Take this kiss upon the brow!
And, in parting from you now,
Thus much let me avow–
You are not wrong, who deem
That my days have been a dream;
Yet if hope has flown away
In a night, or in a day,
In a vision, or in none,
Is it therefore the less gone?
All that we see or seem
Is but a dream within a dream.

I stand amid the roar
Of a surf-tormented shore,
And I hold within my hand
Grains of the golden sand–
How few! yet how they creep
Through my fingers to the deep,
While I weep–while I weep!
O God! can I not grasp
Them with a tighter clasp?
O God! can I not save
One from the pitiless wave?
Is all that we see or seem
But a dream within a dream?

-Edgar Allan Poe

To me this poem conveys that life is so fleeting and fragile. Life is always slipping through our fingers like the sand through our hands.

The Model Theory

After working backstage at Bauer Media’s 30 Days of Fashion and Beauty in Sydney, I’ve gained some interesting insight into the personalities of models.

If you’re wondering…they are as cliche as you think, well at least thats the conclusion I’ve drawn. With phrases like, “Well I was going to buy the Jimmy Choo’s” and, “Babe is this your handbag?-NO! I only buy Chanel handbags”, you can’t help but think they are all superficial.

One thing I did notice, was that all the models did not dress in designer labels- contrary to what I actually thought. Mostly, all dressed in cheap jeans, loose sweaters and Converse shoes-at least half with dirty shoes and rips in their jeans. However, they all had designer handbags. Whether it was Chanel, Louis Vuitton, or Miu Miu, it was as if it was the only extravagant purchase they had made.

Another thing I noticed , was if you managed to grab a model by themselves in conversation with you, they would politely respond but as soon as they could they would start talking to their fellow models. It was as if it was beneath them to talk to their dressers.

With that being said, I was fortunate enough to work with some models throughout the event that did not personify this theory, Such as Rachel in my featured image.

Is Karma A Bitch?

Is it true that our actions influence our future? If so, is it also true that if something does not work out for us or go our way is it because we are being punished?

Often, it feels as though something you spend years trying to obtain, comes easier and quicker to others. The irony is while you think certain things in your life seem unattainable ,or your karma perhaps, is finally catching up to you, others may look at you and wish they had your life or certain things comes easier to you.

So what would it take to show that karma actually exists? “We would need to consider a large sample of human behaviour, and look to see whether there is a substantial correlation between people doing good things and having good things happen to them later, and between people doing bad things and having bad things happen to them later”. Considering the Independent and Dependant variables, mixed with the Design and Validity of the experiment, this experiment seems somewhat impractical to execute.

Consider this though… Jack the Ripper  got to the end of his life without any particularly dire consequences. This example does not prove that there is any such thing as karma, but should combine with the lack of evidence for karma to support the conclusion that karma is just a myth.

The belief that what goes around comes around is just wishful thinking.