FundingKnight Likes… The Financial Fairytales

front cover of 'The last gold coin' book

In our recent post, Could a child fund your next business loan? we were pleased to be able to include a comment from Daniel Britton of The Financial Fairytales, a company who hold financial responsibility for children very close to their hearts. We’ve invited Daniel to tell us more about his quest to raise the levels of financial literacy amongst children and hope to welcome him to the FundingKnight blog for a guest blog or two in the new year, but, in the meantime, we thought it was time for The Financial Fairytales to feature in our ongoing series of  ‘FundingKnight Likes’ blogs.

The Financial Fairytales are a company based in the United Kingdom founded by British author and entrepreneur, Daniel Britton. The company produce books for children and schools all around the world in order to educate, empower and inspire their young readers to become financially literate, learn about the key elements of the world of money; spending, saving, borrowing plus, not forgetting the basic principles of what money actually is and why we have it.

As we all know and experience the influence money has on every aspect of our daily lives, it makes complete sense to educate children from a young age and hopefully instilling a conscientious approach to spending. In fact there’s no doubt that there are many adults out there who would benefit similarly from simple educational techniques related to their finance and savings.

Founder Daniel Britton says:

“By teaching your children about money you take charge of their future financial and economic wellbeing.  Recent studies have shown that over 2/3rds of parents believe that children aged 7 or younger should be taught the financial and money principles contained in The Financial Fairy Tales.

Lessons in financial awareness or resources which support financial literacy for kids are sadly lacking from the curriculum in many schools.”

By providing a foundation education in economics for primary school aged children, The Financial Fairytales maintain that it will help prevent cycles of bad habits potentially instilled into children by their parents. Having come through the worst financial crisis of all time in very recent years surely that can only be a good thing?

Others argue that perhaps we should let children be children and leave their childhood to less adult endeavours, but you know when learning about something serious is as fun and easy to digest as Britton’s books, you are onto a good thing.

Find out more about The Financial Fairytales books and recommendations here.

A Crowdlending Journey Begins…

Allow myself to introduce myself… my name is Katie Kennedy and I live on planet ignorant. There. I’ve said it and it feels good, thanks for listening.

Now just to get this straight, I don’t inhabit said world of ignorance all the time, it does however certainly apply when it comes to talking about the world of economics, business and investment. It would be true to say I have extensive knowledge of certain, extremely useful things. For example; I like to think I could sing you almost all of Belle & Sebastian’s back catalogue and equally you could test me on reciting large chunks of 1980s John Cusack movies word for word (go on, try me…) So yes, like I said, all useful stuff.

And yet surprisingly, the world of finance, investments, peer-to-peer lending, crowdlending, crowdfunding, kickstarting, starting-up, peer-to-crowd kicklending (and any other terms you may wish to insert here) still eludes me and I am fiercely illiterate in this language. I have no background, experience or helpfully stashed away knowledge to conveniently mine. I know little about what FundingKnight does or certainly could do. I am, you may say, an idiot in the land that you reside, the land I like to call Moneyland.

So while I may be an outsider in your lavishly funded Moneyland, I feel as thought it’s my responsibility, nay, my duty to endeavor to break down knowledge barriers, decipher jargon and become curious about financial practices. Systems that in fact would be incredibly useful to know and become acquainted with to lots of ordinary non-money minded folk who, by all accounts, can benefit hugely from what FundingKnight does and could, potentially, do for them.

I therefore agree to take on the weighty mantle of the economically ignorant and aim to translate what FundingKnight does, what they invest in and whom they lend to.

So please, join me on my crowdlending journey and as I learn a bit more, it’ll hopefully help answer some questions that us newbies need to understand and could actually benefit from. And in return for your esteemed company, I promise wholeheartedly not to sing.

The Dr. Who Theory of double-dip recessions.

Dr. Who - TARDIS

Investment in business is likely to suffer from media coverage of the ‘double-dip’ recession, making an even stronger case for P2P Lending.  Today, FundingKnight blogger Mark Harrison shares his thoughts on why, when it comes to recessions, only Dr.Who can really tell if we’re in one or not….

 

Depending on your age, you may believe that Dr. Who is either a trendy young man, who appeared on our screens a couple of years ago… or you may believe that he wears a long flamboyant scarf. (I’m firmly in the latter camp, by the way.)

What you may have missed is that, until yesterday,  the only person who could say we were in a recession, double- or single-dip,  in the UK is the good Doctor, because doing so requires the ability to time travel.

This is because, here in the UK, we have a precise definition of what a recession is, and it’s different to the definition they use in the USA.

Over in the States, there’s a body called the National Bureau of Economic Research, and part of their job is to say when the US economy enters a recession. They use a broad range of factors, and basically announce what they’ve decided.

Here, however, a recession has a specific meaning – it’s two consecutive quarters of “negative growth” (which sounds like a politician’s way of saying “shrinkage” to me).

Now, about three months ago, it was announced that Q4-2011 was negative… to be fair, only just, because GDP  was only 0.3 percent less than the third quarter. Still, no-one who actually lived here in October, November or December would have thought we were in a boom.

So, what actually happened yesterday was that the official figures were released, and, surprise, surprise, it turned out that GDP growth in  Q1-2012 was, also, negative. So, we’re officially, we’re in a recession again. And, because we actually managed to grow for a bit in Q3 last year, before slipping back, we’re in a ‘double-dip’ recession.

Again, the ‘shrinkage’ was tiny – this time, one 0.2 percent. However, it’s still negative, and that means we’ve now been in a recession since October. There’s a slight bizarreness about the fact that, had Q3 also been bad, we’d still be in the same recession – so anyone who says that because we’re in a double dip then ‘this is the worst ever’ seems to have an unusual viewpoint.

However, it’s official – on Monday, only the Good Doctor could confirm that we’re double-dipping – as of yesterday, we all can – the Force is strong in us [or is it the other bunch who say that?]

Photo credit  – used under Creative Commons licence.