Money Lessons

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I had so much to learn about money and how to make it work for me. Photo by Markus Spiske on Unsplash

I came home from visiting Noel to find everyone in the kitchen cooking. We got to talking and after I told them about the incident that happened while I was as Noel’s. It prompted a lesson about money and how to make it work for you. The conversation had the children’s full attention and when we sat down to dinner that was when the back and forth started.

As we settled down to dinner we continued to talk.

“So dad, explain how you made your money work for you?” urged Shane as we sat down.

“Well they are several methods,” he stated to tell us. “ Some low risk, some middle risk and others insanely high risk.”

“Which ones do you use?” asked Kyla as she poured salad cream dressing over her veggies.

Mr. Divine laughed. “All of them.”

Kyla smiled at his comment.

“I rotate my money between stock market investments, high yield accounts, money market and treasury bonds. I set money into fixed, high-interest accounts in cycles or fixed deposits.”

The kids looked at Mr. Divine confused as they waited for more of an explanation.

“So I have a business from which I get a monthly salary. From that, I established a budget. What I need to send each month to pay bills and survive and a little fun money. Then I have the money I plan to save and use for investment. I also have an emergency fund.”

As we ate he explained more. “For me, a cycle is every three months. I take the money I saved over three months then divide it into sections and invest it. Some I put into investments that mature in five years. Others go into the money market, another set into the stock market.”

The children sat there listening, and I could see Kyla had on her thinking face.

After Mr. Divine paused she started with the questions.

“So you have your investments set up that after the initial investment period you get a lump sum coming at you every three months. You can then re-invest it as is when it matures or add on money that you set aside to invest.”

Mr. Divine laughed in delight. “And you, my dear, are thinking like a successful business person.

We spent the rest of the night talking about investing and investments. How to manage them. The risks of the stock market. Making smart investments. Overextending yourself. It was an educational night. Not just for the children but for me as well.

The next day I dragged Mr. Divine with me to the bank. We looked at my account and the children’s accounts. Next, we removed three-quarters of the money from each account and make our way to the credit union and investment broker. It was time to make our money work for us.

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Bank Battle

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Noel going to battle with the bank over the phone. Photo by rawpixel on Unsplash

I watched Noel as she called the bank number she found in the telephone directory for what seemed like the tenth time. After the fifth call, Noel put each subsequent call on speaker for me to hear. She pressed various extensions to try to speak to someone but the phone just kept ringing.

“Now tell me if this is right. They take my money for the slightest thing but I can’t get anyone to answer the phone.”

“That is just wrong,” I reply as the phone just kept ringing in the background.

“I have an idea,” said Noel. She quickly dialed the number for the bank again but this time when the recording came on she pressed another extension number. After two rings there was an answer.

“Wealth management. How may I assist you?”

My mouth dropped open and Noel flashed me a huge smile. Then to my shock, she started speaking with a thick English accent.

“So, for me to speak to someone I must be wealthy because I’ve been calling the number for this bank more than fifteen times in the past thirty minutes. I’ve pressed every extension trying to get someone and this is the first time someone has answered the phone.”

The bank worker started to do the usual spiel, apologising. Seeing how she was sorry this And that while Noel in her thick English accent let her have it. I was hard-pressed not to laugh at the exchange I was hearing but by that time she was done, I fully understood her displeasure with the bank.

The person Noel got on the phone was at a totally different branch from where she banked and she needed to be transferred. Again I listened and all my head kept screaming was that the woman on the other end of the call was telling lies. As far as I was concerned each bank worker we encountered so far displayed massive content, like how dear we call them to complain. Even though they talked a good roll, it became obvious it was nothing but rehearsed words. By the time Noel got off the phone she still hadn’t gotten her problem fixed.

“No, my real question is why do I need a bank because as far as I’m concerned they do nothing for me. All they do do is take my money. I’m over it. It’s time to find a better way to operate,” said Noel.

“You have a good point,” I said nodding my head. “I’ll have a little chat with my hubby see what he says.”

“He’s rich. A businessman. Banks approach him differently. It’s just Joe-public who has to worry nowadays. They are raping us and not even hiding their faces when they do it. Protect your money Lindsay. Get it out of the bank.”

“I’ll talk to Mr. Divine.” I assured her.

After that drama, we went back to talking about random stuff having a good time but what Noel said why still on my mind. I was going to talk to Mr. Divine for sure. This was going to get interesting.

Bank On That

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Never a boring moment with my friend, Noel. Photo by Thought Catalog on Unsplash

I went to visit my friend Noel after I came back from my trip to Europe to just relax and catch up on how things were going. While we were sitting there, her mail came in and I speak talk she opened the letters. When she ripped open the last one her growl of frustration filled the room.

“These people get on my last nerve,” said Noel as she waved the letter in her hand from side to side.

“What’s the matter?” I asked and she pushed what I soon realized the bank statement towards me.

“Look at that,” she said pointing to a particular line on her statement. What she was showing me was the line that said maintenance fees and the corresponding entry that said twenty dollars. After I read it my eyes widened.

“What? Why so much?” I asked looking at what she was showing me. “What bank is this?”

She pointed to the letterhead.

“I don’t bank with them, but I wouldn’t be surprised if I had similar fees on my statement. Those banks. When one starts something the other quickly follows.”

“My question is what is the point of the bank nowadays? In the olden days you at least used to get a bit of interest from them, but nowadays if you if you get two cents added to your hundred dollars it’s a miracle.”

I laughed. “It’s not funny,” I said as I tried to hold in my laughter. I took a deep breath. “In fact, it is sad how true it is.”

“It’s so bad that they don’t even have the branch’s telephone number on the correspondence.”

“Yeah. I noticed that on my correspondence as well. Also, the fastest thing they can tell you is to go online.”

“One minute! They charged me twenty dollars. I only went to the bank three times. They owe five dollars. I’m going to call them now and sort that out.”

The fire was in Noel’s eyes. It was on now.