TEACH YOUR CHILD TO SAVE DAY
jeanniejeanniejeannie.co.uk BLOG Thursday 22nd April 2021
THOUGHT FOR THE DAY
1) TEACH YOUR CHILD TO SAVE DAY (US) 22nd April 2021
Today in the US it is ‘Teach Your Children to Save Day’.
The day is quite a good idea. I feel in the UK we do not give enough attention to teaching children about money.
Money can be complicated to deal with for those people won’t don’t really know how to handle it. Teaching children how to value the money they have can be an essential life skill that is taught at a very early age! By learning about money, people will be better able to handle their finances from childhood and into adulthood.
If children learn the important skill of valuing, using and saving money, they will be ready to face the world!
Teach Your Children to Save Day helps aid this educational prospect by allowing kids to learn new ways of handling and understanding money. And it serves as a great reminder to parents that it’s never too early to get involved with helping children learn about saving.
History of Teach Your Children to Save Day
Teach Your Children to Save Day provides US bankers an opportunity to show the value of teaching children why saving money is essential. Sponsored by the American Banker Association Education Foundation, this day is meant to be a community effort to help families and schools. The idea is for bankers to help advocate for financial literacy.
Teach Children to Save Day encourages parents to teach their children about money. This includes the value of what money can do for people, and also how (and, especially why!) to start a savings account. In the USA throughout the day, bankers, financial planners, and other banking professionals travel to their local schools and teach students, from kindergarten through high school, about money.
The day is not only about saving, but it also includes important information about spending, donating, and investing money. By bringing this vital habit to children while they are young, it is more likely that they will be able to handle their money better in the future.
Bankers on this day are provided with resources that contain promotion material so they can increase awareness. The organization also promotes student activities, communication tools, and presentation lessons to cover topics that involve savings and money. Topics might include how to save money, where is the best place to keep money, and how to make saved money work hard and grow.
Saving money can be the start to better education about money, especially once those children grow up and need to handle their finances. Giving kids the information they need now can help them with difficult situations later, such as unexpected emergencies, loan payments, and other circumstances.
All in all, Teach Your Children to Save Day is a fun, interesting way to learn and teach about a vitally important part of life!
How to Celebrate Teach Your Children to Save Day
Talking about savings, banking and finances doesn’t have to be boring! This can be a great day to have fun and enjoy the process of learning together. And although the celebration is on one day, many people have activities related to savings and financial education all throughout the entire month.
As we do not have the day in the UK create your own but make it an ongoing theme through your child’s life making them very money savvy.
Try these ideas:
Play a Game About Money
For those families or teachers who want an activity that teaches kids about money, then consider playing the popular game Monopoly, by Hasbro. Although not necessarily about saving (sometimes this game can even cause a person to go bankrupt!) Monopoly teaches about the value of money while also making it fun and entertaining. Another board game that can run along those lines is The Game of Life, by Milton Bradley.
For those who prefer to be in the online world, it’s possible to download game apps on a phone and encourage children to play those games. It’s all about making saving money fun and educational.
- Set Savings Goals. It might also be effective to try to motivate children by helping them to list out goals that they want to complete throughout their lives (or if they are very young, throughout the next year!)
- Fill up a savings jar or piggy bank with coins.
- Tell them stories about personal experiences with money and money goals and achievements.
- Help them imagine what they would do if they saved a certain amount.
- Get them to choose something they really want to buy, Lego Set, Trainers, Video Game.
Set an amount to save out of their weekly allowance.
Work out with them when they should be able to buy it.
Give them an additional incentive of being able to earn a small amount extra by doing jobs for you.
- Talk through cost of things.
- Play shops with groceries or toys, or books to educate them in use of money.
- Discuss Wants vs. Needs
The first step in teaching kids the value of saving is to help them distinguish between wants and needs. Explain that needs include the basics, such as food, shelter, basic clothing, healthcare, and education. Wants are all the extras—from movie tickets and sweets to designer sneakers, a bicycle or the latest smartphone. You can use your own budget as an example to illustrate how wants must take a back seat to needs in terms of spending.
- Have Them Track Spending
Part of being a better saver means knowing where your money is going. If your children get an allowance, having them write down their purchases each day and add them up at the end of the week can be an eye-opening experience. Encourage them to think about how they’re spending and how much faster they could reach their savings goal if they were to change their spending patterns.
- Offer Savings Incentives
One of the reasons people save in their employer’s retirement plan is the company matching contribution. After all, who doesn’t like free money? If you’re having trouble motivating your kids to save, you can use that same principle to ramp up their efforts. If your child has set a savings goal you could offer to match a percentage of what they have saved. As an alternative, you could offer a reward when your kid reaches a savings milestone, such as a bonus for hitting the halfway mark.
- Talk About Money
40% of parents say they never speak to their children about money. If you want kids to learn about money, it must be an ongoing discussion. Whether you schedule a regular weekly check-in to talk about money or make money chats part of your daily round, the key is to keep the conversation going.
2) Netflix shares plunge amid fears coronavirus boom is over
About 3.98 million people signed up for Netflix between January and March
Video-streaming giant Netflix has reported a slowdown in subscriber growth, sending its shares tumbling.
About 3.98 million people signed up for Netflix between January and March, well short of the projected 6 million.
The company said a lack of new shows may have contributed to the shortfall, adding that it expected this to recover as sequels to hit shows are released.
Netflix shares fell 11% in after-hours trading to $489.28, wiping $25bn off the company’s market capitalization.
The streaming service added 15.8 million new subscribers last year as Covid-19 forced people around the world to stay home.
Much of that growth came in Asia, where Netflix added 9.3 million new subscribers in 2020, an increase of about 65% over the previous year.
But the pandemic has proven a double-edged sword for Netflix, because it also disrupted its production pipeline.
“These dynamics are also contributing to a lighter content slate in the first half of 2021, and hence, we believe slower membership growth,” the company said in its quarterly letter to shareholders.
The company projected poor customer growth ahead, with an additional 1 million new streaming customers in the second quarter, far short of the previously predicted 5 million.
Netflix also faces increasingly stiff competition from new streaming services entering the market.
Disney+, a much newer streaming service, already has 100 million subscribers, compared with Netflix’s 207.6 million.
Disney Plus racks up 50m subscribers in five months
Even with sluggish customer growth, Netflix has reported revenues of $7.16bn and net income of $1.71bn.
Netflix predicted stronger growth in the second half of the year when it releases new seasons of “You,” “Money Heist,” “The Witcher” and action movie “Red Notice,” among other titles.
“We had those ten years where we were growing smooth as silk,” Netflix chief executive Reed Hastings said on a streamed earnings call, according to an AFP report.
“It is just a little wobbly right now.”
TOP TEN OF THE DAY
TOP TEN ICONIC CONCERTS
Were you there?
- Pink Floyd – 14 Hour Technicolor Dream show
The 14 Hour Technicolor Dream show in 1967 was a fundraiser held in the Great Hall of the Alexandra Palace, London. A number of musicians performed at the concert, but Pink Floyd closed proceedings just as the sun was beginning to rise at around five o’clock in the morning. Though details of the set-list are rather sketchy, reports say they performed material from their then-unreleased debut album, ‘The Piper at the Gates of Dawn’.
- Elvis Presley – ’68 Comeback Special
After spending seven years not touring and focusing on his movie career upon the wishes of his manager Colonel Tom Parker, Elvis returned to live performing the ’68 Comeback Special on NBC. The show was initially set up as a Christmas special which would feature the King of Rock ‘n’ Roll singing festive tracks and carols, but Elvis was able to change the concept with the help of the special’s producer Bob Finkel so that he would be showcasing new material, different to what had recorded before. ‘Singer Presents…Elvis’, as the show was titled, aired on December 3, 1968, and was a huge success, re-launching Elvis’ music career. Following the show, Elvis returned to live performances, beginning with a four-week residency at the Las Vegas International Hotel – the first show attracted an audience of 101,500.
- Jimi Hendrix – Woodstock 1969
The Woodstock Festival of 1969 attracted an audience of more than 400,000 and has since been considered a pivotal moment in popular music history. Jimi Hendrix was the last to perform at the festival with his new band Gypsy Sun and Rainbows as they took the stage at 8:30 Monday morning due to delays caused by the rain. They performed a two-hour set, including his psychedelic instrumental version of the American national anthem. Many of the songs performed at the iconic event were unreleased by Hendrix until they were put out posthumously in 1994.
- The Beatles – 1969 Apple Corps rooftop show
On January 30, 1969, The Beatles – formed of John Lennon, Paul McCartney, George Harrison, and Ringo Starr – and keyboardist Billy Preston performed an unannounced gig on the rooftop of their Apple Corps headquarters in London. They played a 42-minute set to a crowd that quickly grew on the street before the Metropolitan Police asked them to reduce the volume. It ultimately became the final public live performance of their career and ended with a rendition of ‘Get Back’ followed by Lennon joking: “I’d like to say thank you on behalf of the group and ourselves and I hope we’ve passed the audition.”
- Johnny Cash – Folsom State Prison 1968
Johnny Cash performed two shows at the unlikely location of Folsom State Prison in California in May 1968. Although he had been arrested several times in his life, Cash was never sentenced to jail time, despite the lyrics to songs such as ‘Folsom Prison Blues’, suggesting that he had and making him a hero to many inmates across the US. Cash came up with the idea to record a live album from the gigs in a bid to turn around his flagging career. The idea was given the green light by Columbia Records producer Bob Johnston and the rest is history. ‘Johnny Cash at Folsom Prison’ became a hit record and was the first in a series of live albums recorded at prisons that includes ‘At San Quentin’.
- The Who – Leeds University 1970
On February 14, 1970, The Who recorded their landmark first live album ‘Live At Leeds’ in the hallowed 2,000 capacity of The Leeds University Refectory. It became the only live album released with the band’s original line-up – singer Roger Daltrey, guitarist Pete Townshend, bassist John Entwistle, and drummer Keith Moon. Since its release, ‘Live at Leeds’ has been cited by several music critics as the best live rock recording of all time.
- Sex Pistols – Manchester’s Lesser Free Trade Hall 1976
On June 4, 1976, approximately 40 people gathered together at the Lesser Free Trade Hall in Manchester to watch the Sex Pistols perform. The gig heralded the start of the punk movement in the UK and influenced the British music scene for years to come, due to the members of that limited audience. Among those in attendance were Morrissey, who went on to form The Smiths with Johnny Marr, as well as Bernard Sumner and Peter Hook, who created Joy Division, which became New Order after the death of singer Ian Curtis. Pete Shelley and Howard Devoto, who put on the gig, also went on to form The Buzzcocks, who supported the Pistols at their second Manchester gig just six weeks later.
- Ozzy Osbourne – Veterans Memorial Auditorium 1982
Ozzy Osbourne’s ‘Diary of a Madman Tour’ has gone down in rock ‘n’ roll infamy due to something that has never been repeated on stage. The tour rolled into Des Moines, Iowa, on January 20, 1982, for a concert at the Veterans Memorial Auditorium. Unbeknown to anyone, 17-year-old fan Mark Neal decided to bring a live bat to the gig and threw it onto the stage only for Ozzy to bite its head off believing it was a toy. Luckily, the Prince of Darkness did not fall ill from the bizarre incident and lived to rock another day. In 2019, Ozzy commemorated the 37th anniversary of the historic moment by offering an ‘Ozzy Plush Bat’ toy “with detachable head” for sale on his website.
- Nirvana – MTV Unplugged 1993
In 1993, grunge rock icons Nirvana ditched their electric guitars to perform an acoustic show at Sony Music Studios in New York City for the television series ‘MTV Unplugged’. Frontman Kurt Cobain was nervous about playing an entirely acoustic show but managed to overcome his fears to film the TV program in a single take. The show aired on the cable television network MTV a month later to critical acclaim. Tragically, Kurt committed suicide on April 5, 1994, at the age of 27. The album ‘MTV Unplugged in New York’ was released posthumously in November 1994 and led to the band’s only Grammy Award win when it was selected for the Best Alternative Music Performance prize at the 1996 Grammys.
- Oasis – Knebworth 1996
Oasis performed to their biggest crowd of a quarter of a million people over two nights at Knebworth Park in 1996. The mega gigs were announced following the huge success of their second album ‘(What’s the Story) Morning Glory?’, which was released in 1995 and has gone on to become the UK’s fifth biggest-selling album of all time. They were supported by a who’s who of British bands at the time, including The Charlatans, Manic Street Preachers, The Prodigy, Cast, The Chemical Brothers, and Kula Shaker. More than four percent of the entire British population applied for tickets at the time and the guest list swelled with 7,000 names on it, including the likes of Kate Moss, Jarvis Cocker, Mick Hucknall, and Chris Evans. The story of Liam and Noel Gallagher’s journey from a Manchester council estate to Knebworth was told in the 2016 documentary ‘Supersonic’.
DON’T FORGET TO LAUGH EVERYDAY
INSPIRATIONAL QUOTE FOR THE DAY
I’m the one that’s got to die when it’s time for me to die, so let me live my life the way I want to. – Jimi Hendrix
Happiness is…children achieving monetary goals.
GRANDAD’S ONE LINER JOKE OF THE DAY
When the cannibal showed up late to the buffet, they gave him the cold shoulder.
Love is…all snuggled up watching a Netflix thriller (on Gogglebox).
A time for Netflix…A time for BBC 1.
1876 Pyotr Ilyich Tchaikovsky completes his ballet “Swan Lake”.
1915 1st military use of poison gas (chlorine, by Germany) in WW I.
1994 In Denmark the largest lollipop, weighing 3,011 pounds, made.
2019 Marvel film “Avengers: Endgame” directed by Anthony and Joe Russo starring Robert Downey Jr., Chris Evans and an ensemble cast, premieres in Los Angeles.
LITTLE NUMBERS: SOME HORRBLE SOME NICE
©2021 Phil M Robinson