Necessities

Financial necessities of life are the same for all people, but sadly, few of us possess a complete set. Most people are unaware of the five main necessities:

Protection begins at birth with the personal safety provided by caregivers to ensure food, shelter, healthcare, and a healthy lifestyle for children. Our best chance for living a full, meaningful life includes safeguarding the well-being of young people (and dependent adults), saving for unemployment, and seeking consumer protection.

Skills are the learned abilities of reading, communication, thinking, and performance. Education and experience provide these skills. High school graduates are more likely to find employment than high school dropouts. Trade schools and higher education improve your chance for employment after high school graduation.

Income is the money received as a gift or earned as a reward for work. Either way, income is essential for paying the usual expenses of living and recovering from financial hardship. Use a budget to plan for paying current and future expenses.

Savings are the valuable items we set aside for future use. One example is the use of a food pantry to store food at home in case of a food-shortage in grocery stores. The loss of income due to unemployment or disability is almost certain to happen at sometime during life. Saving money in an insured bank account is strongly recommended for everyone. Investing money to pay for future expenses is also strongly recommended.

Sharing with other people brings personal satisfaction and strengthens your community network.

Copyright © 2020 Douglas R. Knight

Simple Conversations About Money

Mary Hill is an author of children’s books.  Her set entitled Money Matters is designed to teach beginners how to count and use money.  The book titles are Pennies, Nickles, Dimes, Quarters, Dollars, and Spending and Saving.  These small thin books are easy for pre-school children to read and carry.  About 18-24 pages in each book alternate between a simple sentence on the left page and a full sized illustration on the right page. The sentences are printed in large letters and illustrated with attractive photographs of real money and real people. A simple glossary is provided on the last page to facilitate understanding of the terms and pictures. 

I found 2 of her 6 books in the Children’s section of our city library.  In Dollars (ref 1), the U.S. dollar bill and dollar coin are described by appearance and cash value.  Denominations of dollar bills are illustrated for $1 through $100.  The attentive reader will quickly learn to recognize real money in contrast to play money. 

In Spending and Saving (ref. 2), author Hill explained how earned income is saved and spent.  Her pictures of adults at work show a healthy lifestyle for generating personal income.  Children learn that they can save money by giving it to a bank teller or putting it in a piggy bank.  The topic of spending money applies to choices among expensive items, such as a house, and everyday items such as groceries and school supplies. The attentive reader is exposed to several ways that adults earn money and use it wisely.

Young children who like to use computers can learn more about money at these websites:

References

  1. Dollars, by Mary Hill. Welcome Books (™): Money Matters. Danbury, 2005. 
  2. Spending and Saving, by Mary Hill. Welcome Books (™): Money Matters. Danbury, 2005. 

Copyright © 2019 Douglas R. Knight