Money

1
Money

• Lecture 2

Photo courtesy of morguefile.com
2
MONEY

• Makes the world go round
• The love of money is the
• root of all evil
• A form of payment in coins or notes
• Cash old French casse box for money, loot,
  arian, spondoolies, greenbacks, beer vouchers,
  

Picture courtesy of picturestation.net
3
POCKET MONEY

• How much have you in your pocket?
• How much do you have per week/month?
• What is it for, luxuries or necessities?
• Who is it for, yourself or others too?
• Where does it come from?
• Does it come easily?
• Does it go easily?
• Is it yours?

Photo courtesy of morguefile.com
4
OTHER PEOPLES MONEY

• We use others money to get what we want house,
  car, hi-fi, hols, clothes, eating out, food and
  shelter .. and pay
• for the pleasure in INTEREST
• Borrow 1,000
  repay
• Mortgage borrow 100,000 repay
• 300,000 over 25 yrs
• Loans borrow at 12 per annum
• (12 per 100 per year)
• Credit and store cards borrow at
• 0 to 39 per annum
• How do your own rates compare?
• Explore Have we caught your interest? (1)
• Avoid Interest
• Be cautious with credit cards
• 
  
• 
  
• 
  

Picture courtesy of barclaycard.com
5
9 WAYS TO BLOW MONEY

• Lend it (to friends or others who have blown
  their money already)
• Pay more than necessary (taxis instead of buses,
  not shopping around)
• Buy unnecessary items (all the latest mobiles,
  gadgets, cars, clothes.)
• Fail to plan and/or budget (leads to feast and
  famine mentality)
• Take unnecessary risks (carrying large amounts of
  cash, losing PINs, trusting others.)
• Addictions - gambling, alcohol, drugs, shopping,
  smoking
• Borrowing inappropriately or too much
  (store/credit cards, overdrafts)
• Squandering money (over-use of mobiles and
  energy, wasting food and possessions, living on
  fast food)
• And for parents/guardians.. bailing
  students out of debt

6
10 WAYS TO CONSERVE MONEY

• Plan ahead/budget and stick to it
• Save instead of borrowing, lend to yourself
• Car share, take a bus instead of a taxi
• Walk, ride a bike, improves health too
• Live within your means, avoid debt easier said
  than done, see below
• Cook and eat communally, meals out cost 3x
• Buy seasonal foods
• Take advantage of offers (student discounts on
  food, books, travel, accommodation and many
  others)
• If its not in your pocket, you cant spend it
• Consider interest-free banking like in
  Scandinavia, JAK-banks

7
HOW TO FIND MONEY

• Maximise your student loans and grant (the most
  cost efficient of the borrowing routes)
• Apply for hardship grants you will only be
  eligible if you can prove financial hardship (see
  the Student Financial Support Office
  http//www.aber.ac.uk/studentfinance/)
• Seek outside funding, eg private individuals,
  scholarships, bursaries. Find further information
  and books in the Hugh Owen Library or at
  http//www.aber.ac.uk/studentfinance/links.shtml
  (lots of useful resources)
• Apply for preferential student finance -
  overdrafts and loans, and career development
  loans (Postgraduate) from the banks.
• Find an income, which will provide money (10
  hours work _at_ minimum wage 48.50 less national
  insurance) perhaps via Job Link
  http//www.aber.ac.uk/careers/joblink/
• Sell assets in return for cash to invest in
  yourself, or use a Swap Shop
• Stretch your cash using a budget planner from
  your bank.
• See Money, budgeting and part-time work (2),
  Aimhigher budget planning (3), Useful Websites
  (4)

8
HOW TO MAKE MONEY

• Study how and for whom money works (business,
  finance, economics, politics and the science of
  personal achievement) MindStore (5), Google goal
  setting
• Decide how much you want
• Decide when you want it by
• Decide what you will give in return
• With a burning desire, persistence and faith you
  will get what you want .. eventually
• THINK and GROW RICH
• SIMPLE but not EASY

Photo courtesy of morguefile.com
Photo courtesy of sxh.hu
9
HOW TO SHARE MONEY

• CONSIDER WHO MIGHT DESERVE IT
• Rights of money versus rights of living persons
  (6)
• Different monies bring different results (7)
• www.reinventingmoney.com (8)
• Why localisation is essential for sustainability
  (9)
• Making money, yet growing poor (10)
• AND FINALLY... WHAT HAPPENS WHEN THE T HITS
  THE FAN?
• Talk to someone! You tutor will have experience
  in these matters and be able to help. Dont let
  it get to the stage where it affects your
  academic performance.
• Seek professional help UWA Advice and
  Counselling Service in the Union.
• Student Financial Support Office
  http//www.aber.ac.uk/studentfinance/
• USE Citizens Advice Bureau (CAB) Citizens Advice
  Corporate Website Home (11)
• USE Consumer Credit Counselling Service
  (Registered Charity) www.cccs.co.uk (12)

Photo courtesy of sxh.hu
10
Further Resources

• http//www.jak.se THE INTEREST-FREE SAVINGS AND
  LOAN SYSTEM
• http//www.gaianeconomics.org/jak-bank.htm
• http//www.reinventingmoney.com
• The Ecology of Money by Richard Douthwaite
• Creating New Money a Monetary Reform for the
  Information Age by Joseph Huber and James
  Robertson
• Rights of money versus rights of living persons
  by David Korten
• Richard Douthwaite, Short circuit strengthening
  local economies for security in an unstable
  world,  1996, The Lilliput Press,
  Dublin.www.feasta.org The Foundation for the
  Economics of Sustainability
• Jubilee Research Worldwide Economic Justice
  campaign
• New Economics Foundation, The Challenges
  mainstream thinking on economic, environment and
  social issues.
• www.schumachersociety.org Linking people, land, an
  d community by building local economies
• The Growth Illusion How Economic Growth has
  Enriched the Few, Impoverished the Many, and
  Endangered the Planet
• Positive News - the good news the other papers
  don't print
• Ecology Building Society - invests in sustainable
  projects
• Think and Grow Rich by Napoleon Hill publisher
  Ballantine Bookswww.ethicalinvestors.co.uk
  ethical investments
• www.greeneconomics.org.uk Economics as if people
  mattered
• www.greenparty.org.uk the green perspective
• http//www.justchangeindia.com/ Trade to benefit
  poor communities
• http//www.wto.org/ world trade organisation
• http//en.wikipedia.org/ the free encyclopaedia

11
External References

• John H Webb (2000)Have we caught your interest.
  Plus Magazine. Available at http//plus.maths.org/
  issue11/features/compound/ Accessed 23/09/05.
• University of Surrey (No date) Money, budgeting
  and part time work. Available at
  http//portal.surrey.ac.uk/portal/page?_pageid705
  ,69500_dadportal_schemaPORTAL. Accessed
  23/09/05
• Aim Higher (2005) Budget Planning. HEFCE.
  Available at http//www.aimhigher.ac.uk/student_fi
  nance/budjet_planning.cfm. Accessed 23/09/05
• University of the Arts London (2005) Useful
  Websites. Available at http//www.arts.ac.uk/stud
  ent/money/1692.htm. Accessed 23/09/05
• Mindstore (No date) Home Page. Available at
  http//www.mindstore.com/ Accessed 23/09/05
• David C Korten (No date) Rights of money verses
  rights of living persons. Festa Review No 1.
  Available at http//www.feasta.org/documents/feast
  areview/korten2.htm. Accessed 23/09/05
• Lothar Luken (No date) Modern money, debt
  slavery and different monies bring different
  results. Festa Review No. 1. Available at
  http//www.feasta.org/documents/feastareview/lueke
  n.htm Accessed 23/09/05.
• Greco T H (No date) Reinventing money.com.
  Available at http//www.reinventingmoney.com/
  Accessed 23/09/05.
• Richard Douthwaite (No date) Why localisation is
  essential for sustainability. Festa Review No. 2
  Available at http//www.feasta.org/documents/revie
  w2/douthwaite.htm Accessed 23/09/05.
• David O Kelley (No date). Making money yet
  growing poor. Festa Review No. 1. Available at
  http//www.feasta.org/documents/feastareview/okell
  y.htm Accessed 23/09/05.
• Citizens Advice Bureau Home Page (No date).
  Available at http//www.citizensadvice.org.uk/
  Accessed 23/09/05.
• Consumer Credit Counselling Service Home Page (No
  date). Available at http//www.cccs.co.uk/
  Accessed 23/09/05.