Kid Safe » Money & Finance http://kidsafe.com A Great Parenting Resource Sat, 14 Jan 2012 02:16:50 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Kenya Turns to Tech to Help End PovertyLarry Magid http://www.huffingtonpost.com/larry-magid/kenya-turns-to-tech_b_1005802.html http://www.huffingtonpost.com/larry-magid/kenya-turns-to-tech_b_1005802.html#comments Wed, 12 Oct 2011 01:18:39 +0000 Larry Magid http://kidsafe.com/?guid=36dd4a4b2b3442f1b9b66d0c9180d911
Ndemo, permanent secretary of the country's Ministry of Information and Communications, is optimistic that Kenya's relatively well-educated and English-speaking population will leapfrog 20th-century technologies and cash in on mobile broadband.

2011-10-11-ndemo.jpg
Bitange Ndemo holds a $60 Chinese Android tablet for use in schools
Photo credit: Larry Magid


"A few years ago we started to think about how to absorb many youth," Ndemo told me in a recent interview at his office in Nairobi, adding that half the population is below age 20. I was in Nairobi for the United Nations Internet Governance Forum.

While most Kenyans work in agriculture, information technology is key to the government's plan to transform the nation from an agrarian to a service-based economy. That includes call centers, software development and light industry.

In 2007, the government drafted what it calls "Vision 2030," a plan that includes greater government transparency and accountability as well as economic, social and political reforms. To that end, Kenya is launching "open data" websites to make government data "accessible to the people."

In partnership with the World Bank and Nokia, the country has created an "m-lab" to incubate mobile application startups. In June, m-lab sponsored a mobile apps developers conference and a contest that recognized 25 East African app developers, including Simba Technologies, which created an app called MedKenya that delivers health information to Kenyans via mobile phone, using information from the government's open data project. Last month the company participated in DEMO Fall 2011 in Silicon Valley, where it showed off an expanded version, called MedAfrica, to bring similar content to other countries on the continent.

Perhaps the most famous mobile success is M-Pesa ("M" stands for mobile and "pesa" is Swahili for money). Launched in 2007 by Kenya mobile carrier Safaricom, M-Pesa allows people to use text messaging to transfer funds via cell phone. Stores selling cards to top off M-Pesa accounts are everywhere. I even spotted them in small towns while traveling in rural parts of the country.

"Africa is the Silicon Valley of banking," said Carol Realini, executive chairman of Obopay, a Redwood City-based mobile banking company. "The future of banking is being defined there."

Ndemo said that there are thousands of young Kenyans involved in app development. One Kenyan company, Planet Rackus, has done well with its "Ma3Racer" driving game that the Kenya Standard newspaper said "allows one to test his or her driving skills on the busiest, and roughest Nairobi roads." The app, I'm told, is based on racing matatus (taxi vans) on real urban roads. Just inching along Nairobi's incredibly crowded streets in taxis has been tough on me.

Some rural communities lack electricity, let alone Internet. Although there are projects to bring fiber to the home, most Kenyans get online either at cybercafes or by purchasing an inexpensive USB modem and buying mobile Internet top-off cards.

Fortunately, my laptop has a pretty good battery, which was needed, because hardly a day passed during my stay without a brief power outage -- even at a luxury hotel in the capital. A lodge I visited in the Masai Mara game reserve uses generators, which they turn off late at night. But Kenya has an abundance of sunshine, and Ndemo hopes to see widespread adoption of solar power. Last year, the country lowered the import tax on solar equipment in an effort to promote "green energy."

As for the short-term future, one corner of Ndemo's spacious office is dedicated to a scale model of Konza City, a planned 5,000-acre technology park to be located about 40 miles from Nairobi. The area, already nicknamed "Silicon Savannah," will eventually feature housing, a science park, a university campus and two "BPO Technology Parks." BPO stands for business process outsourcing, which can include a variety of "back office" functions including accounting and human resources.

I don't know how long it will take for Kenya to achieve a modicum of prosperity, but after spending 10 days with some marvelous people, I'm convinced they'll get there.

This article first appeared in the San Jose Mercury News. Larry Magid blogs at LarrysWorld.com and SafeKids.com.]]> http://kidsafe.com/2581/kenya-turns-to-tech-to-help-end-poverty/feed/ 0 Are Real Books a Thing of the Past?Two Maine Moms http://twomainemoms.blogspot.com/2011/08/are-real-books-thing-of-past.html http://twomainemoms.blogspot.com/2011/08/are-real-books-thing-of-past.html#comments Wed, 03 Aug 2011 00:15:00 +0000 Two Maine Moms http://kidsafe.com/?guid=acbbacff7346edcdfe5c5843ca4b9ef2 I am sad that Borders is going out of business.]]> http://kidsafe.com/1462/are-real-books-a-thing-of-the-past/feed/ 0 You Can Trust This Guy With an Hour of Your TimeKymberley Page http://kidsafe.com/1250/you-can-trust-this-guy-with-an-hour-of-your-time/ http://kidsafe.com/1250/you-can-trust-this-guy-with-an-hour-of-your-time/#comments Wed, 20 Jul 2011 21:34:49 +0000 Kymberley Page http://kidsafe.com/?p=1250 This is an email from a newsletter of Inspiration by God and I felt you all just need to see this.
 
This guy can definitely be trusted with an hour of your time!!
 
A few ultra successful friends of mine have agreed to a web training to teach YOU how to earn an income online.
 
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]]> http://kidsafe.com/1250/you-can-trust-this-guy-with-an-hour-of-your-time/feed/ 1 Jobs Kids Can Do This Summeradmin http://kidsafe.com/905/jobs-kids-can-do-this-summer/ http://kidsafe.com/905/jobs-kids-can-do-this-summer/#comments Wed, 15 Jun 2011 14:53:42 +0000 admin http://kidsafe.com/?p=905 Teens4Hire.org -The #1 online career and recruitment site for U.S. teens seeking work.

Thiis is a great website you can check out with your teen

 

 

Get the kids off the video game and teach them about earning (and saving) money

Finding ways for kids to make money when they are too young to have a regular job can seem like a real challenge. But with a little thought and a dash of imagination, young entrepreneurs all over the world are coming up with creative ways to make money.

Years ago, before compulsory education and child labor laws, it was so normal for kids to be working alongside adults that the very thought of having to hunt for ways for kids to make money would have been laughable! Often, the money brought in by kids was all that stood between a family and starvation.

We live in better times now. There is usually plenty to eat, and we expect our kids to focus on their education.

Now, don't get me wrong, I am all for education!

 
Kids can make money in so many different ways!

Traditional education is designed to produce good employees.

Teaching Kids About Money And Business

Erinfid Aphrodite Mater Cornucopia with a 3-day-old litter, March 2005

The Problem With Compulsory Education

 

However, the current education system in the Western world is so geared to producing good employees that there are real risks in leaving your child's financial education to the so-called "experts". Remember that all the teachers, all the inspectors, all the administrators, all the people who write the curriculum guidelines, and all the politicians who make the laws about education are, themselves, employees. Usually lifelong employees.

It's up to parents to instill that good old-fashioned value of self-reliance, and encourage kids to get out and make money without becoming a wage slave.

Business Ideas For Kids

The range of things which kids have done to make money is incredible. The only limit is your imagination.

Babysitting

Gardening

Dog washing

Selling things on eBay

Busking

Collecting for charity on commission

Buying bulk candy and selling individual pieces

Breeding rats (see below)

Letter-box leaflet drops

Running errands

Comic book rental library

Toy rental library

Making jewellery

Making My Space backgrounds

Collecting lost golf balls

Washing cars

Baking for busy working mothers

Entertainers at kids' parties

Collecting aluminium cans

Cleaning swimming pools

Exercising horses

Removing garbage

Sewing

 

… and hundreds more!

Starting Early As Entrepreneurs

When my three girls were aged between nine and twelve, they started a rat-breeding business. They borrowed the start-up capital from us, paid interest out of their pocket money, and bought their breeding stock of rats.

After a few months, there were baby rats rolling off the production line, about one litter every 6-12 weeks. In less than 12 months, they had repaid the initial loan, and the business was turning a profit.

After another 12 months they were tired of cleaning cages every weekend, so they decided to let their remaining rats retire from active breeding duty without being replaced. Eight or nine months later, the last rat died of old age, and the young directors met one last time to liquidate the business.

I think it's a cute story, and I tell it regularly (probably more often than I should, but, hey, they're only cute for such a short time).

When I told this story, I found that people got very interested. They wanted to know how we taught our kids to run a business. How we got our kids to want to run a business. How we got our kids interested in earning money at all, for that matter, at such a young age.

I think that these are the wrong questions to be asking, actually. We should be asking questions like – why aren't all kids doing this? What stops the vast majority of kids from turning their creative minds to the question of how to earn the money they need to buy the things that they want? Why is it so strange, in this day and age, to see a 12-year-old negotiating to be paid for their services?

There was a time, not so long ago, when 95% or more of the population were self-employed, either on farms, in retail, or in cottage industries. Kids grew up surrounded by commerce, watching the exchange of valuable services for money, seeing the process of trading for profit, ingesting the principles of customer service with their mother's milk.

These days, the majority of people depend on someone else's entrepreneurial spirit to generate revenue into a business to pay them a wage, either directly, by working for a company in the private sector, or indirectly, by working for a government funded by taxing the private sector and its employees.

With this shift from business ownership, however small-scale, wide-scale employment, has come a corresponding shift from self-reliance to dependence. We have almost lost the ability to take care of ourselves financially.

Most people are expecting an employer or the government to take care of them when they can no longer work. Or, worse, they aren't even thinking about how they might survive financially beyond this year, this month, or even this week.

 

 

Teaching Kids Business

Basic entrepreneurship should be part of every child's education. But we can't expect the employees who teach in schools to step up to the plate and pass on skills they don't have. Just like the other crucial life skills like brushing their teeth, eating right, and maintaining relationships, teaching the skills of money and business is very much the parent's responsibility.

It's not too late. Programs like Cash-Smart Kids give parents the tools they need to make their kids financially self-reliant.

Just about every entrepreneur who achieves financial independence immediately starts teaching others how to do likewise. Make sure your child is one of those teachers. Give them the basic skills they need, even if that means going out and learning them late in life yourself!

]]> http://kidsafe.com/905/jobs-kids-can-do-this-summer/feed/ 0 Turn a Yard Sale into more than a Math Lesson for KidsKymberley Page http://kidsafe.com/880/turn-a-yard-sale-into-more-than-a-math-lesson-for-kids/ http://kidsafe.com/880/turn-a-yard-sale-into-more-than-a-math-lesson-for-kids/#comments Wed, 15 Jun 2011 14:25:55 +0000 Kymberley Page http://kidsafe.com/?p=880 Teaching kids the value of money can be difficult.  When my children were young and we didn't have enough money to purchase something they wanted they would just say write a check  thinking that checks were valuable regardless of the amount of money in the bank and then later on it was "just go to the ATM – They have lots of money." 

It is even more difficult in today's times with swipe cards, paypal, online banking.  Kids these days don't "see" the money that thay did in the past and a Yard Sale is a terrific way to visually, and tactically show kids the real value of money, and the exchange of goods for money in a hands on, fun and engaging manner that will build memories and hopefully a lot of fun!

A well planned and thought out yard sale can have many benefits beyond the stash of cash that you hope to gain from the sale. 

There are many skills your kids can learn from this event without the feeling of a classroom lesson or a "chore." Turn this in to a game for kids. Planning a yard sale is a great lesson in the value of money, and math skills. It can also teach marketing skills, how are you going to advertise, what are you going to advertise, be truthful and honest in your advertisements.  Saying you are have a Gigantic Yard Sale of the Year in the newspaper and then only having a handful of items is less than truthful. Other skills that can be taught and practiced through the kids games are project management skills, leadership, public speaking, and managing expectations.  Kids learning how to do safe online searches is an important skill parents need to teach their children as well. 

 One of the most important things you can do to get the kids excited about the yard sale is having a goal of what you plan to do with your earnings.  It might be a trip to a favorite amusement park, camping, or what ever your kids keep bugging you to do this summer. With the kids at the table, plan out all of the expenses of this "reward" from gas prices to food, hotel, etc. Don't forget include fun money for the kids to spend during this reward so that YOU are not expected to purchase very souvenier, or carnival game or funnel cake, that way they really learn to budget their earnings on what's most important.

Another idea for the earnings is a donation to a favorite charity, if this is your choice then contact that charity and ask them how much money it would take for one thing that the donations could go to.  If you choose a homeless shelter, ask how much it costs the shelter to house a person for one day or a week, or if it's a animal resucue foundation, ask them what the costs are to "sponsor" an animal or a kennel.  There are all kinds of local charities that you can work with in the preplanning stages of your yardsale to get an earnings goal.  

Decide on the final total that you have all agreed on your "Earnings Goal".

Let the Kids figure out a plan of all the steps required and the order they should be put in.

This is a great skill in school projects as well as life planning and budgeting, beyond the math skills they will use.

( a few tips I suggest is that if you having a two day sale – switch roles on the second day.  Don't give the math wizard the banking role, or the social butterfly as the sales person on the second day – let them get out of their comfort zones and learn to be happy in roles that are not their strong suit so that they can learn to be well rounded individuals. Also if you have a young infant see if you can get a sitter for the day so that you can really focus on the older kids for the day and include the cost of that sitter in the "cost of sales" portion of your budget") 

Once you and your kids have all brought out all the items you wish to sell, you can do some research on what those used items are going for in the market place.  Craigslist, Amazon, and E-Bay are great ways to find market value.  Google the item you have for sale and see what comes up, compare the condition of your item compared to what is on-line and then come up with a "hopeful" price that includes room for barganing and then an absolute minimum that you will accept for the item or if you or your kids really have no desire for the item anymore – know that it will go to a donation station at the end of the yard sale.  These minimum prices that you put down on paper for each item can then be used when going to the donation station for a reciept for your tax write off.

If you estimated earnings which should be about 50% of your "hopeful" price totals are not sufficient for your rewards expenses, you can do add on sales like selling coffee in the early morning and lemonade later on in the day, or a car wash on the final day, you would need to include the costs of the drinks, cups, car wash soap, etc.  in your cost of sales that you will deduct from your total earnings.

Other expenses you need to include are classified ad prices in the paper – often your local newspaper will have a "garage sale package" that includes signs and stickers. If you don't have that option you need price stickers (if you kids have their own individual reward goal then color coded stickers work great for the "banker" to keep track of whose items are sold.   You will also need poster board and yard stakes or a staple gun to hang signs and these costs need to be included as well. 

 

If your estimated and actual earnings are not enough to do the special reward the family wants to do you can offer to match their earnings or come up with other ideas for the fund raising.  Remember that the ultimate goal beyond all the lessons is to build memories and have fun with your kids this summer, this should not be a stressful event and all the pre-planning and the attached pdf should help keep that stress to a minimum.  Make sure you have set out your expectations for behavior for your kids, no whininng, no giving up and no dissappearing when it's time to clean up after ward.

 

"Perfection is not attainable but if we strive for it we can achieve excellence"  Vince Lombardi

 

 

]]> http://kidsafe.com/880/turn-a-yard-sale-into-more-than-a-math-lesson-for-kids/feed/ 0 New Club Tuki Welcome Videoadmin http://kidsafe.com/489/new-club-tuki-welcome-video/ http://kidsafe.com/489/new-club-tuki-welcome-video/#comments Thu, 30 Jul 2009 05:05:44 +0000 admin http://kidsafe.com/?p=489 We have a new “Welcome Video” for Club TUKI that I would love your comments on.  Please let us know what you think of this new video.

For those of you who may not be aware of what Club TUKI is, let me give you a brief explanation.  This is a one of a kind, patented, educational rewards engine based, kids gaming site.  Filled with educational games that teach kids about money, finance, math, geography, Internet safety, health & nutrition and success principles.  We continue to add educational games and we are always looking for game developers to contribute educational games to this site.

We have been told by a number of teachers they use these games in their classrooms to help teach math, subtraction, multiplication, geography and Internet safety.

If you have children that like to play games and win real stuff you must check out www.ClubTuki.com.


]]> http://kidsafe.com/489/new-club-tuki-welcome-video/feed/ 2 Overwhelmed with Credit Card Debt?admin http://kidsafe.com/186/overwhelmed-with-credit-card-debt/ http://kidsafe.com/186/overwhelmed-with-credit-card-debt/#comments Mon, 19 Jan 2009 02:20:28 +0000 admin http://kidsafe.com/?p=186
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]]> http://kidsafe.com/186/overwhelmed-with-credit-card-debt/feed/ 7 10 Tips for Spending Less and Living Betteradmin http://kidsafe.com/59/10-tips-for-spending-less-and-living-better/ http://kidsafe.com/59/10-tips-for-spending-less-and-living-better/#comments Mon, 28 Jul 2008 22:10:39 +0000 admin http://kidsafe.com/?p=59

 

TAKING CONTROL OF YOUR BUDGET

Balancing your checkbook and monitoring your credit-card bills every month will help you determine exactly what you are spending. By bringing attention to your spending, you will start to see patterns and begin to set priorities. One priority should be putting money into savings, no matter how modest the amount. Even taking the loose change out of your pockets each day and putting it into a piggy bank can make a difference.

 

SHOPPING WITH A LIST

You can avoid impulse buying when you use a shopping list especially when grocery shopping. Take time each week to go through your pantry and fridge to determine what you need based on what meals you plan to prepare, what’s on sale and in season..

 

PAY WITH CASH

Money magazine cites a study of supermarket receipts showing that shoppers with credit cards spend an average of 30 percent more than those who use cash, largely on purchases of nonessential items. Consumer’s pay less attention to what they’re buying when they use credit. Another study showed that when college students used cash at their campus bookstore, they could recall what they spent 68 percent of the time, versus 35 percent for students who used credit.

 

RESIST BUYING IN BULK

It’s tempting to think you’ll get a better deal if you buy a whole crate of peaches or an entire case of cough syrup. But if the food spoils faster than you can eat it, or the "use by" date passes on medicine before it’s used up, you’ve wasted money. Be realistic about what you’ll use and keep your volume purchases to paper towels, trash bags, diapers and detergent.

 

BRING YOUR LUNCH

"Price of Food is very high right now and that’s reflected in restaurant prices, plus there is a huge markup on prepared foods," said Mike Russo, consumer advocate for the California Public Interest Research Group. You can save money on food by making your own lunch and in turn you save gas by not driving to a restaurant. This is also an opportunity to eat a healthier diet since you can control the amount of mayonnaise on your chicken sandwich and cheese on your salad. For a little variety, have an occasional office sandwich swap or potluck.

 

ENTERTAIN YOURSELF

Exchange books, music and DVD’s with friends or trade them on the internet via member sites such as paperbackswap.com. The public library does not just offer books, movies and DVDs; it also offers a wealth of events and activities including lectures, film series and exhibits. Check out your local parks and recreation centers for free or nominally priced programs, classes and activities for seniors, singles, children and families.

 

SLOW DOWN

The U.S. Department estimates that each 5 miles per hour above 60 mph that drivers go costs them an additional 30 cents per gallon of gas. Keep your tires properly inflated and aligned, refrain from constant braking and accelerating, eliminate extra cargo in the car and remove roof racks and other aerodynamic drags. (A roof rack can make your car 2 percent to 3 percent less efficient.)

 

TURN ON THE TIMER

Install a programmable thermostat set to heat or cool your house only when you need it and cut your energy bill by 10 percent to 20 percent, according to the Energy Department. Replace your old incandescent light bulbs with more efficient compact fluorescent ones and put the lamps on timers. Connect your entertainment center and/or computer workstation to a smart power strip. Energy-saving power strips cut power to all devices on the strip, so every time you power down your workstation, you shut down your monitor, printer, scanner and so on.

 

MAXIMIZE YOUR INTEREST

Review your savings account with your banker to insure that you are getting the highest interest rate possible. As your savings build, consider transferring the money into relatively short-term certificates of deposit, which can generate a steady stream of interest income until the stock and bond markets improve. If you are paying high interest rates on your credit cards, call the card issuer and try to negotiate a lower rate. Some issuers would rather lower the rate than lose a reliable customer. Jennifer Delcamp Wallis, author of "Get Out of Debt and Stay Out of Debt,’ offers tips for renegotiating a credit-card rate at betterbudgeting.com.

 

DON’T PANIC

Get help if your bills are stacking up and you are having trouble making your mortgage payments. There are nonprofit counseling agencies to assist homeowners. Start by calling the Homeownership Preservation Foundation’s hotline at (888) 995-HOPE or go to the Website 995hope.or for more information. Counselors will work with callers to help come up with a plan, which may include contacting mortgage companies to work out more favorable loan terms or monthly payments. The foundation partners with community-based nonprofit organizations, callers may be referred to a local counseling agency for more personal help.

 

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