ARE your kids keen savers and know the value of their pocket money? It was recently revealed that children received an average of £254 in pocket money last year. But recently I had an email from Jenni Smyth, 32, from Cardiff, who asked: “I want to teach my children the value of money because any pocket money they get, they just spend! Have Savers got any ideas?” And here’s how you responded to her. . . ANGIE HODSON, 60, from Cambridgeshire, says: “Tell them they can spend 50p on whatever they want and save 50p. It will soon add up at the end of the year.” My tip: The half and half method is clever and if they did this weekly for three months, that would be £6 saved. EZRA VERNON, 43, from Rugeley, Staffs, says: “Let your kids choose an activity or item that costs a specific amount and encourage them to save until they have enough — plus add in bonus money for any extra jobs they can do.” My tip: Help them work … [Read more...] about Here’s our top tips to help your children learn the value of pocket money — plus find out how to book a bargain £9.50 break with The Sun
Time value of money ppt
Terry Davies is the driving force behind Dunedin’s Forsyth Barr Stadium. But the man who now commands a sizeable six-figure salary can still remember his first pay day. Chris Morris reports. When Terry Davies was a boy, money was tight. The Englishman running Dunedin’s Forsyth Barr Stadium came from a working-class family in St Albans, Hertfordshire, just outside London. Growing up with two older brothers and an old sister, his siblings were expected to "put the money on the table" if they found work. By the time Mr Davies (58) landed his first job, things had improved — a bit — and he was allowed to keep his money. His first pay packet came in the early 1970s, when the 13-year-old got a part-time job cleaning golf clubs and balls at the Batchwood Golf Club on Sundays."I was a general dogsbody for the little pro shop," he said. His first pay packet came in the form of two £1 notes, handed to him at the end of his first day, which was "good money in those … [Read more...] about First job part of learning value of money
The financial concept of "the time value of money" is now in the spotlight, thanks to President Donald Trump's complaint about The New York Times's expose of alleged tax schemes that bolstered his fortune. The article claims Mr. Trump received far more wealth from his father than he has divulged — $413 million in today's dollars, by the Times's accounting. Mr. Trump on Wednesday criticized the piece for what he claims is the use of "the time value of money," among other complaints. Although the precise nature of Mr. Trump's objection is unclear, a closer look at the concept of the time value of money suggests what he might be getting at. What is the time value of money? The time value of money is the idea that money in hand is worth more than the same amount of money in the future. In other words, $1,000 is worth more to an investor now than in a month, year or or other period of time because she can start earning a return immediately. That interest will compound over … [Read more...] about “Time value of money”: What is it, and how does it work?
Sales from Northern Ireland to Great Britain were worth nearly four times the value of exports to the Republic of Ireland in 2016, new data revealed. However, sales of finished products to Great Britain relied upon cross-border trade in raw materials, the Office for National Statistics (ONS) noted.The goods sold to Great Britain – classified as intra-regional trade within the UK rather than exports – were worth one and a half times the value of all Northern Ireland exports to the rest of the world.Sales to the Republic accounted for 27% of the total value of declared Northern Ireland exports during 2016, narrowly ahead of the 25% exported to the United States. The future of the Irish border is one of the most vexed issues facing Brexit negotiations in Brussels.The ONS report said: “The sale of finished products to Great Britain relies upon cross-border trade in raw materials and components through integrated supply chains, meaning trade with both Great Britain and the … [Read more...] about NI sales to Great Britain worth four times value of exports to Republic
Opinion PUBLISHED: 17:30 10 August 2018 | UPDATED: 17:53 10 August 2018 Starting early is one of the keys to a good financial education, says Warren Shute. Picture: Getty Images/iStockphoto This content is subject to copyright. Financial planner Warren Shute shares his top tips for raising money-smart children - what are yours? Warren Shute, certified financial planner and author of The Money Plan. Picture: Warren Shute.During the course of our lifetime, most of us see more than £1m go through our account – sometimes a lot more. Yet nobody teaches us how to manage that because we don’t have formal, compulsory financial education.That means it’s up to parents, not schools, to teach children how to manage their money well, regardless of their own experiences or success with money. Here are some of the things I do with my own kids to help them become money-smart.Starting early is one of the keys to a good financial education, says Warren Shute. Picture: … [Read more...] about Warren Shute: How to raise children who know the value of money