Personal Finance and Investing

Do you want to find the perfect toy for your child? Then perhaps you should consider the many benefits and advantages that ride on toy cars bring to kids of all ages.

The tiniest tots can enjoy a ride on one of these toys and bigger kids can also use them. In the eyes of most children anything that has wheels is going to be fun and when they are the ones that can be in the driver’s seat the excitement is amplified.

Rideon toys have been in existence for a number of years and there is good reason for their continued popularity. These are toys that allow kids to use their imagination, they are affordable and these types of toys are definitely child-friendly.

Young children always want to imitate the behaviors of adults. They are natural mimics and this is why they like to dress up in oversized clothing, play house and pretend to be firemen, policemen and astronauts. Kids will imitate cooking and cleaning because they feel as though these activities help them become more “grown up”.

One of the adult behaviors that kids love to imitate is driving and what better way to do this than with one of the many ride on toy cars that are available. When you give a set of wheels of any size to children you can watch their faces light up with delight at the thought that they are going to become a driver instead of just a passenger.

Scooters, pedal cars and battery operated vehicles for kids are just a few of the many different rideon toys that are available. These are toys that help them develop their minds, challenge their imaginations and let them enjoy a first taste of independence. No longer do they need someone to pull them in a wagon because their new rideon toy cars are ready to take them almost anywhere they want to go.

With ride on toy cars you are also providing your child with an activity that will help them develop new skills and improve their hand-eye coordination. These rideon toys also give children a chance to work on their balance and basic movement skills.

You can even help foster these newly acquired skills by creating obstacle courses and driving tracks. Then your kids will have a safe environment on which they can use their rideon toy cars. There are even helmets, jackets and child size gloves that you can purchase to intensify the driving experience for your kids.

No matter which type of ride on toy cars you choose for your child you can be certain that it will be a learning experience as much as a fun playtime activity. These toys often become cherished objects that kids want to keep forever and pass along to their own children in the years to come.

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Recently, while planning for a trip to a Spanish-speaking country, I realised that I had forgotten all the lessons I had learnt in high school about this foreign language. Although I had passed the subject in external examinations many years ago, I had no recollection of even the basic concepts.

Unfortunately this problem is replicated with many of the subjects that I studied in school from primary up to tertiary levels. Although I may have excelled at them in class, the reality is that I did not practise their principles outside of school, so their content became distant memories.

I know my situation is not an isolated case of ‘school-subject Alzheimer’s’. I have often wondered why our education system focuses on teaching children so many obscure topics, while ignoring some practical areas that are crucial to the development of our students. I believe that more attention needs to be paid to imparting important life skills to help them to cope in the real world.

We All Need To Learn About Money

One vital lesson that is absent from the curriculum of Jamaica’s school system is personal finance education. Whether we aspire to become doctors, lawyers, nurses or policemen, we all need to learn the key principles of how to manage, multiply and maintain our money. No student should leave school without attaining an age-appropriate understanding about money.

Looking back, all my financial lessons were learnt through making mistakes and trying to figure out how to get out of the money problems I had created for myself. If only someone had taught me the basic rules of money while I was in school, I would have saved myself a lot financial stress over the years.

Today, one of my goals is to promote the inclusion of personal finance training in the curriculum of primary to tertiary level schools. In conceptualising the ideal money course, I thought about all the topics that I wished that I had learnt in school, and created a framework that could be adapted to different age groups.

This week, we will look at the first four money principles that I think our children should be learning in school:

Budgeting Basics

One of the major problems that people face with their finances is that they don’t know how to allocate the money they have to pay all their bills. The concept of budgeting is one that primary school children should learn, as even at that age, they have to make choices with their money.

Using practical applications, students should be taught how to work out all their monthly expenses, fill out a personal budget, calculate the difference between income and expenses and make adjustments in the budget to balance their spending needs with their income.

Smart Spending

Our consumption-focused culture is partly responsible for many of the financial challenges that the country as a whole is facing today. Many Jamaicans equate having money with the ability to spend it frivolously. To address this problem, we have to teach proper spending decisions to young children when they are still impressionable.

Some of the practical areas that would be covered include making grocery lists, comparison shopping for best prices, finding sales via newspaper advertisements, calculating unit prices on goods, differentiating between wants and needs, and learning how to save money by conserving.

Saving Essentials

The flip side of our high propensity to spend is our inadequate attention to saving. If our thoughts are focused on spending money instead of accumulating it, is it any wonder that many of us live from pay cheque to pay cheque, and never amass any real wealth? Children need to be taught how to save, as many of their parents are not carrying out this vital activity.

This subject should teach students simple strategies to make regular saving easier, such as putting aside ten per cent of their income. Practical experience would be obtained by them actually opening their own bank or credit union accounts. They should also be taught the factors that make money grow, such as compound interest and the impact of time on savings.

Managing Debt

Many people’s first response to having a budgetary shortfall is to try to borrow money to make up the difference. Along with our love of spending comes our dependence on debt. Unfortunately, this negative attitude is being passed onto our children, so it is important to equip them with the tools to understand how to manage debt.

Key principles about debt that should be taught include understanding how loans work, reading loan documents, assessing the capacity to borrow based on a budget, using credit cards, recognising beneficial debt as against harmful debt, and the responsibility to repay debts on time.

Next week, we will look at other important subject areas that should comprise a personal finance education syllabus in our school system.

Copyright © 2010 Cherryl Hanson Simpson

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News item: conservative politicians want “law abiding” college students and professors to be able to carry guns on campus so that they can have shoot-outs with gun-toting thugs who might be a threat to others.

This idea lacks merit. Here’s why:

The definition of “law abiding” is slippery. Persons in our society do not conveniently fall into categories of law-abiding or lawbreaker. Many violent felons have not yet been arrested and prosecuted, and as a result, they blend in seamlessly with the rest of society. They can legally buy guns and they can get concealed-weapon permits if they wish. If conservative politicians think these persons should be allowed to wander about college campuses with their guns, but most people-especially those with sons or daughters in college-would strongly disagree.

Second, if these politicians had actual experience with firearms (such as through military service), they would know that possession of a firearm by itself does not guarantee protection from someone who seeks to do harm to others. Guns in the hands of untrained owners (the usual case) are notoriously inaccurate at distances over 15 yards. A person firing such a weapon in a crowded classroom is as likely to hit a student as an armed intruder. The more other students join in the shooting, the greater the hazard becomes.

Third, even in the rare case where a handgun is carried by a person who is trained to be a good marksman, the hazard to others persists. The reason: thugs use the element of surprise to their advantage. That’s how they kill policemen. Thus, an intruder at a college is in a position to shoot or disarm anyone who attempts to interfere with his diabolical plans. Again, the threat to innocent bystanders is enormous.

Finally, firearms in the hands of students are a hazard to others because the weapons are not easily stored, transported or handled. Members of the armed forces, though trained in the use of firearms, are frequently victims of what are euphemistically called accidental discharges. The same will happen to college students who keep guns in dormitory rooms or who carry the weapons to frat parties, to athletic events and to other student activities. In his movies, Arnold Schwarzenegger brandished a variety of weapons with ease, but in real life things do not always work that way. Even Vice-President Dick Cheney managed to shoot another person while hunting outdoors.

In sum, firearms, especially handguns, are inherently dangerous. They have no place on a college campus except in the hands of the campus police.

Well, can anything be done to improve security on our college campuses? Sure. To begin, the number of campus police officers should be increased, perhaps even doubled. Next, their level of training must be improved. Each campus police officer should be required to requalify annually with both pistols and rifles. Finally, each college should have an alert plan which will allow administrators to transmit text messages to all students immediately if there is any sort of danger on campus.

But allow students and professors to tote guns? No. That will only worsen the situation.

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The weather conditions do not affect anything. Of course, it is clear to everybody that in winter accidents are more frequent, but you also have to remember that avoiding an accident is much more valuable than knowing how to react in it. But if you did end up in an accident it is better to know what to do. Let us try to explain everything you will require to understand while finding yourself a victim on the road. Here are a few advices that will definitely help you to get through this difficult time of your life.

We would like you to read these points carefully and if you have an opportunity to print the information given below please do it and make sure you keep it not to far away.

First of all it is important to stay calm. Analyze the situation and try to estimate the equivalent of losses. The damage can be both significant and slightly important. In any case you have to remember that it is easy to make the situation even worse than it is. In any case, what you must know is that usually medical assistance is what you need to think of in the first place. Smallest details count.

You must report police about any accidents you find yourself in. It has to be legal so there is a way to deal with the situation. Do not try to escape from the scene or arrange anything without police knowing about it. This will get you into even more trouble you can imagine. Police will make a full report of everything that happen and conclude with the verdict.

Do not let anyone get you blinded. Talk only with policemen about the accident. We know sometimes it is difficult to keep it quiet about what happened but take a look at it from the other side. While in panic people let themselves go, not realizing what it can get themselves into. Limit all of the conversations about the accident on the road and do not confess anything. There are only two people that should know all honesty. They are the policeman and insurance company person.

Get used to make notes. People are so shocked and nervous after the accident that they forget the most important part – to write down names, addresses, phone contacts of those who were involved in the car accident with them. But you have to ask your insurance company’s advice while you are waiting for police to arrive. The insurance company agent will definitely tell you to recollect the name of the insurance company the others are dealing with plus their car’s identification number.

You should call your insurance company or your insurance agent as soon as you found yourself in the accident. He must know about all your troubles first. Please inform him about the smallest details and don’t be afraid to speak the truth even if you were the one responsible for the accident.

You can also find some car insurance quotes on different websites and read them before you hit the road. We don’t mean you have to do it everytime you have a time to spare but it is always good to know how to help a case when it occurs. You can also get car insurance quotes from the insurance company itself if you have chosen one already. Good luck on the road and be safe!

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The weather conditions should not affect anything. Of course, it is clear to everybody that in winter accidents are more frequent, but you also have to remember that avoiding an accident is much more valuable than knowing how to recover from it. But in case you did end up in an accident please know what to do. Let us try to explain everything you will require to understand while finding yourself a victim on the road. Here are a few very strong advices that will definitely help you to get through a difficult time of your life.

We would want you to read these points carefully and if you have an opportunity to print the information given below please do and make sure you keep it not to far away.

First of all it is important to take a deep breath and not to panic. Analyze the situation and determine the equivalent of losses. The damage can be significant or slightly important. In any case you have to consider that it is easy to make the situation even worse than it is. In any case, what you must know is that sometimes medical assistance is what you need to think of in the first place. Smallest details count.

You have to know to report police about any accidents you find yourself in. It has to be legal so there is a way to deal with the situation. Do not try to escape from the scene or arrange anything without police knowing about it. This will get you into more trouble. Police will make a full report of everything that happen and conclude with the verdict.

Do not let anybody get you blinded. Talk only with policemen about the accident. We know sometimes it is difficult to keep it quiet about what happened but take a look at it from a different point of view. While in panic people let themselves go, not realizing what it can get themselves into. Limit all of the conversations about the accident on the road and do not confess anything. The only two people that should know all honesty are the policeman and insurance company person.

Remember to make notes. People are so shocked and nervous after the accident that they forget the most important part – to write down names, addresses, phone contacts of those who were involved in the car accident with them. But you have to ask your insurance company’s advice while you are waiting for police to arrive. The insurance company guy will definitely tell you to recollect the name of the insurance company the others are dealing with plus their car’s identification number.

You should call your insurance company or your insurance agent as soon as you found yourself in the accident. He must know it before anybody. Please inform him about the smallest details and don’t be afraid to speak the truth even if you were the one responsible for the accident.

You ca also find some car insurance quotes on different websites and read them before you hit the road. We don’t mean you have to do it everyday but it is always good to know how to help ay case when it occurs. You can also get car insurance quotes from the insurance company itself if you have chosen one already. Good luck and be safe!

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