Once Upon a Dime
1) goldilocks adn the three passwords
2) appily ever after and freemium games
3) hans in luck a series of bad trades
4) cinderella buying shoes
5) Dwarfs mine closes and their resumes and research for new jobs. Or take their skills and become entrepreneurial. Solve a problem that mining created.
6) Musicians of Bremen and collaboration
7) Little Red Riding Hood. Community Helpers in the modern world. Jobs and tools. Old days to modern days.
8) Big Bad Wolf and Identity Theft and online predators
9) The Mitten and scarcity and animal homes
10) To market to market to buy. What do they buy? Comparison costs. (images from Clip Pix and short questions like in money in a minute
11) Elves and the Shoemakers Elves and the shoemaker good workers. Create an advertisement.
12) Frozen and Buying decisions supply and demand
13) Princess and the Frog
14) Peter Rabbit
15) Mrs. Tiggy Winkle and the shop (credit)
16) Princess and the frog and entrepreneurship
17) Robin hood and taxes
18) Beauty and the Beast Charity and kindness
19) Aladdin and Budgets
20)
Even a relatively simple game like Candy Crush can be used to impart financial wisdom. Mobile freemium games usually sell extras to speed up playing the game. This is a great opportunity to teach your children about work and money. If your children want to buy a five dollar pack of “lives” give them the opportunity to earn money, doing work that’s over and above any choirs that are expected of them. Set a timer and record how much time it took them to “earn” the money, and how long it took them to spend it. and freemium games. appily every after. with my decision making lesson.
create your own fractured fairy tale https://www.educationworld.com/a_tsl/archives/03-1/lesson003.shtml
money lessons from fables: https://www.moneymanagement.org/blog/2014/07/important-money-lessons-from-classic-fables
https://www.onemainfinancial.com/resources/everyday-living/financial-lessons-from-fairy-tales-and-fables with fables remade
http://www.genywealth.com/aesop-fables-lessons-personal-finance
https://www.theamateurfinancier.com/blog/learning-financial-lessons-from-aesops-fables/
https://www.ft.com/content/202ed286-6832-11df-a52f-00144feab49a ants and grasshopper modern tale
saving with fables https://www.savingadvice.com/articles/2012/01/24/109007_money-lessons-from-aesops-fables.html
“The Three Little Pigs,” for example, is more than just a story about the value of better building materials. Like a whole host of fairy tales (“The Ant and the Grasshopper,” or “The Goose with the Golden Egg”), it teaches that sensible investment can yield high returns.
There are plenty of a fairy tales where collaboration is critical, such as “The Musicians of Bremen,” but fewer directly show the advantages of economic exchange. Even more troubling, there are a set of stories, like “Hans in Luck,” where people engage in a series of bad trades that end up impoverishing them. This is the type of tale that can turn your child into an ardent protectionist.
Far better to dose them with edifying stories of the benefits of free trade, such as the Buddhist tale of the young man who starts with a dead mouse and exchanges his way up to a fortune. In this story, financial acumen is no barrier to holiness, as the tradesmen is reincarnated as a monk.
Cinderella buying shoes. Shoes for different cultures. Different tales.
thinking skills https://hvtc.edu.vn/Portals/0/files/6358205130580677754.pdf
Seven Dwarfs the mine closed. Here are their resumes. Find them new jobs
the history of fairy tales https://www.scholastic.com/teachers/blog-posts/kristy-mall/enchanting-ideas-teaching-fairy-tales/
Occupations occupations such as axe men (in "Little Red Riding Hood"),
Big bad wolf and identity theft *Put the big bad wolf on trial! For younger students, focus on just one or two versions of the story and teach them the judicial process.
https://gyanpedia.in/Portals/0/Toys%20from%20Trash/Resources/books/studyfairy.pdf
Planning a tea party All children love a tea-party, but what child would not be caught by having a tea-party with a Mad Hatter, a March Hare, and a sleepy Dormouse, with nothing to eat and no tea! Decision making
Creating the best gingerbread house. Hansel and Gretel
Gingerbread man sell him a boat
add to Jack a pet for beans https://www.econedlink.org/resources/a-pet-for-beans-from-jack-and-the-beanstalk/
The mitten https://www.econedlink.org/resources/the-mitten/ Scarcity and find animal homes for the animals
financial fables https://www.kansascityfed.org/education/fables/
to market to market https://www.kidseconposters.com/pigs-go-to-market
https://www.kidseconposters.com/rumplestiltskin-s-daughter rumplestiltskin
the house that jack built https://www.kidseconposters.com/the-pot-that-juan-built
to market to market https://www.kidseconposters.com/to-market-to-market
shoemakers shoes and capital resources https://www.econedlink.org/resources/the-shoemakers-tools/
country mouse makes a decision https://www.econedlink.org/resources/country-mouse-makes-a-decision/
costs and benefits of three little pigs https://www.econedlink.org/resources/costs-and-benefits-of-the-three-little-pigs/
Fairy tale characters for president
is there a fairy tale where someone saves money in a jar or piggy Bank? https://www.econedlink.org/resources/this-little-piggybank-went-to-market/
Little red hen as an entrepreneur https://www.econedlink.org/resources/the-little-red-hen/
the right job for the tortoise and the hare https://www.econedlink.org/resources/the-right-job-for-the-tortoise-and-the-hare/
Elves and the shoemaker good workers. Create an advertisement.
Lambikin. Here the reckless hero frolicked about on his little tottery legs. On his way to Granny's house, as he met the Jackal, the Vulture, the Tiger, and the Wolf, giving a little frisk, he said, - To Granny's house I go, Where I shall fatter grow. Then you can eat me so!
Humor is the charm, too, of Andersen's Snow Man. Here the child can identify himself with the Dog and thereby join in the sport which the Dog makes at the Snow Man's expense, just as if he himself were enlightening the Snow Man about the Sun, the Moon, and the Stove
He pities the plight of the animals in the Bremen Town Musicians, and he wants them to find a refuge, a safe home. He is glad that the robbers are chased out, his sense of right and wrong is satisfied. Poetic justice suits him. This is one reason why fairy tales make a more definite impression often than life--because in the tale the retribution follows the act so swiftly that the child may see it, while in life "the mills of the gods grind slowly," and even the adult who looks cannot see them grind. The child wants Cinderella to gain the reward for her goodness; and he wishes the worthy Shoemaker and his Wife, in the Elves and the Shoemaker, to get the riches their industry deserves,
https://gyanpedia.in/Portals/0/Toys%20from%20Trash/Resources/books/studyfairy.pdf
https://www.scholastic.com/teachers/unit-plans/teaching-content/myths-folktales-and-fairy-tales/
2) appily ever after and freemium games
3) hans in luck a series of bad trades
4) cinderella buying shoes
5) Dwarfs mine closes and their resumes and research for new jobs. Or take their skills and become entrepreneurial. Solve a problem that mining created.
6) Musicians of Bremen and collaboration
7) Little Red Riding Hood. Community Helpers in the modern world. Jobs and tools. Old days to modern days.
8) Big Bad Wolf and Identity Theft and online predators
9) The Mitten and scarcity and animal homes
10) To market to market to buy. What do they buy? Comparison costs. (images from Clip Pix and short questions like in money in a minute
11) Elves and the Shoemakers Elves and the shoemaker good workers. Create an advertisement.
12) Frozen and Buying decisions supply and demand
13) Princess and the Frog
14) Peter Rabbit
15) Mrs. Tiggy Winkle and the shop (credit)
16) Princess and the frog and entrepreneurship
17) Robin hood and taxes
18) Beauty and the Beast Charity and kindness
19) Aladdin and Budgets
20)
Even a relatively simple game like Candy Crush can be used to impart financial wisdom. Mobile freemium games usually sell extras to speed up playing the game. This is a great opportunity to teach your children about work and money. If your children want to buy a five dollar pack of “lives” give them the opportunity to earn money, doing work that’s over and above any choirs that are expected of them. Set a timer and record how much time it took them to “earn” the money, and how long it took them to spend it. and freemium games. appily every after. with my decision making lesson.
create your own fractured fairy tale https://www.educationworld.com/a_tsl/archives/03-1/lesson003.shtml
money lessons from fables: https://www.moneymanagement.org/blog/2014/07/important-money-lessons-from-classic-fables
https://www.onemainfinancial.com/resources/everyday-living/financial-lessons-from-fairy-tales-and-fables with fables remade
http://www.genywealth.com/aesop-fables-lessons-personal-finance
https://www.theamateurfinancier.com/blog/learning-financial-lessons-from-aesops-fables/
https://www.ft.com/content/202ed286-6832-11df-a52f-00144feab49a ants and grasshopper modern tale
saving with fables https://www.savingadvice.com/articles/2012/01/24/109007_money-lessons-from-aesops-fables.html
“The Three Little Pigs,” for example, is more than just a story about the value of better building materials. Like a whole host of fairy tales (“The Ant and the Grasshopper,” or “The Goose with the Golden Egg”), it teaches that sensible investment can yield high returns.
There are plenty of a fairy tales where collaboration is critical, such as “The Musicians of Bremen,” but fewer directly show the advantages of economic exchange. Even more troubling, there are a set of stories, like “Hans in Luck,” where people engage in a series of bad trades that end up impoverishing them. This is the type of tale that can turn your child into an ardent protectionist.
Far better to dose them with edifying stories of the benefits of free trade, such as the Buddhist tale of the young man who starts with a dead mouse and exchanges his way up to a fortune. In this story, financial acumen is no barrier to holiness, as the tradesmen is reincarnated as a monk.
Cinderella buying shoes. Shoes for different cultures. Different tales.
thinking skills https://hvtc.edu.vn/Portals/0/files/6358205130580677754.pdf
Seven Dwarfs the mine closed. Here are their resumes. Find them new jobs
the history of fairy tales https://www.scholastic.com/teachers/blog-posts/kristy-mall/enchanting-ideas-teaching-fairy-tales/
Occupations occupations such as axe men (in "Little Red Riding Hood"),
Big bad wolf and identity theft *Put the big bad wolf on trial! For younger students, focus on just one or two versions of the story and teach them the judicial process.
https://gyanpedia.in/Portals/0/Toys%20from%20Trash/Resources/books/studyfairy.pdf
Planning a tea party All children love a tea-party, but what child would not be caught by having a tea-party with a Mad Hatter, a March Hare, and a sleepy Dormouse, with nothing to eat and no tea! Decision making
Creating the best gingerbread house. Hansel and Gretel
Gingerbread man sell him a boat
add to Jack a pet for beans https://www.econedlink.org/resources/a-pet-for-beans-from-jack-and-the-beanstalk/
The mitten https://www.econedlink.org/resources/the-mitten/ Scarcity and find animal homes for the animals
financial fables https://www.kansascityfed.org/education/fables/
to market to market https://www.kidseconposters.com/pigs-go-to-market
https://www.kidseconposters.com/rumplestiltskin-s-daughter rumplestiltskin
the house that jack built https://www.kidseconposters.com/the-pot-that-juan-built
to market to market https://www.kidseconposters.com/to-market-to-market
shoemakers shoes and capital resources https://www.econedlink.org/resources/the-shoemakers-tools/
country mouse makes a decision https://www.econedlink.org/resources/country-mouse-makes-a-decision/
costs and benefits of three little pigs https://www.econedlink.org/resources/costs-and-benefits-of-the-three-little-pigs/
Fairy tale characters for president
is there a fairy tale where someone saves money in a jar or piggy Bank? https://www.econedlink.org/resources/this-little-piggybank-went-to-market/
Little red hen as an entrepreneur https://www.econedlink.org/resources/the-little-red-hen/
the right job for the tortoise and the hare https://www.econedlink.org/resources/the-right-job-for-the-tortoise-and-the-hare/
Elves and the shoemaker good workers. Create an advertisement.
Lambikin. Here the reckless hero frolicked about on his little tottery legs. On his way to Granny's house, as he met the Jackal, the Vulture, the Tiger, and the Wolf, giving a little frisk, he said, - To Granny's house I go, Where I shall fatter grow. Then you can eat me so!
Humor is the charm, too, of Andersen's Snow Man. Here the child can identify himself with the Dog and thereby join in the sport which the Dog makes at the Snow Man's expense, just as if he himself were enlightening the Snow Man about the Sun, the Moon, and the Stove
He pities the plight of the animals in the Bremen Town Musicians, and he wants them to find a refuge, a safe home. He is glad that the robbers are chased out, his sense of right and wrong is satisfied. Poetic justice suits him. This is one reason why fairy tales make a more definite impression often than life--because in the tale the retribution follows the act so swiftly that the child may see it, while in life "the mills of the gods grind slowly," and even the adult who looks cannot see them grind. The child wants Cinderella to gain the reward for her goodness; and he wishes the worthy Shoemaker and his Wife, in the Elves and the Shoemaker, to get the riches their industry deserves,
https://gyanpedia.in/Portals/0/Toys%20from%20Trash/Resources/books/studyfairy.pdf
https://www.scholastic.com/teachers/unit-plans/teaching-content/myths-folktales-and-fairy-tales/
Take “Rumpelstiltskin,” that amazing tale of a poor miller’s daughter who is told to spin gold from straw and does so with the help of an imp who demands her firstborn child in return. This one is simple: Spinning straw into gold? That is what the commodities market does. Rumpelstiltskin is, basically, a broker (or, perhaps, a Gnome of Zurich), though his commission seems high. In my version of the old story, however, the girl puts aside a little of the gold from each batch for herself and builds a nice nest egg. When she defeats Rumpelstiltskin by saying his name aloud (an early example of poor brand management), she uses the money to build a college fund, using a tax-advantaged 529 account. She sends her child to a good school. He gets an M.B.A. Everybody wins. Except for Rumpelstiltskin, but he was mean. https://www.nytimes.com/2016/04/10/business/mutfund/financial-fables-all-the-better-to-teach-you-with-my-dear.html
And we don’t need to confine ourselves to the Grimm stories. Aesop was full of financial wisdom. “The Ant and the Grasshopper” tells you what you need to know about saving for a rainy day. The goose that laid the golden egg? It’s all about not letting greed get the best of your investing strategy. Poor Aesop never heard of exchange-traded funds or currency swaps. A little updating will make these babies hum.
And what about Hans Christian Andersen’s classic tale of the Little Match Girl? She is trying to sell matches on a frigid night, afraid to go home to her father who will beat her, and missing her grandmother, who had been kind. What if she simply had the foresight to put a little money away with each of the matches she sold? As financial experts tell us, anyone can save. “It didn’t take long for the little match girl to realize that even small investments in a no-load stock fund over time could bring financial security.” In the end, she gets a nice condo somewhere. It’s warm.
Little Red Riding Hood and the Predatory LenderOnce upon a time, Little Red Riding Hood needed a loan, so she set off on a journey to her trusted lender, Woodland Loans. Along the way, she passed a little cottage with a sign in the window which read “Woodland Loans,” but the logo looked different, the phone number had changed and she couldn’t remember ever seeing a location there before. A wolf leaned out the front door and called out to her: “Come on in, little girl! If you need a loan, we’ve got the best in the whole forest!”
Little Red went inside. “We’ll get you your money right away,” said the wolf with a grin, and began showing her all the different options.
“My, what big upfront payments you ask for,” she exclaimed.
“The better to assist you with, my dear” said the wolf, “they’re just normal fees to grant you the loan.”
She continued reading. “My, what little information you ask for…”
“The better to serve you, my dear,” he chuckled, “we don’t need your credit score or need to verify any income. Only those mean lenders ask for that…”
Little Red Riding Hood kept reading, but the wolf was growing impatient and began pressuring her to sign the loan agreement right away.
“My, how insistent you are,” she said, frowning.
“The better to SCAM you my dear,” laughed the wolf, flashing his teeth, “and once we’ve got your money, there’s nothing you can do about it!”
The Moral of the Story:
Unfortunately, there are some lenders out there that don’t have your best interest at heart. Sometimes they’re predatory lenders. Other times they might be not be real lenders at all, but criminals like the wolf in this story. In many cases they pose as legitimate companies and try to scam you or steal personal information.
Always do your due diligence and research the lender you’re dealing with, and the details of any offer you are considering. If it seems too good to be true, it usually is.
The Inattentive Deer
One day, a deer is feeding on the coast. She is worried that a farmer will come through the field and shoot her, so she feeds with her back to the sea so that she can keep an eye on the fields. However, while she is so focused on the fields, she doesn’t notice some fishermen come from the sea and throw their net over her.
From this fable, children can learn that it is important to stay focused on all of their future investments. Don’t overcompensate on one by only taking notice of that one. Otherwise, your others might suffer!
Fable # 3: The Cage Bird and The Bat
Moral: Precautions are useless after the crisis.
Personal Finance Lesson: It’s best to know your risk tolerance before you begin investing. One of the biggest mistakes investors make is pulling their money out of the market and into cash after the market goes down. Then waiting to after the market has already gone back up to get back in.
Fable # 4: The Hare and the Tortoise
Moral: Slow but steady wins the race.
Personal Finance Lesson: You don’t get rich overnight. You get rich by spending less than you earn month after month.
Fable # 5: The Miser and His Gold
Moral: Wealth unused might as well not exist.
Personal Finance Lesson: Personal finance isn’t about accumulating the most money. Personal finance is more about using your money in the most efficient way to get the most out of life.
The Ant’s and the Grasshopper’s Approaches to SavingLong ago in a meadow by the forest — not far from that mean old wolf’s house — a young grasshopper was enjoying his summer, never bothering to save for the future. He loved playing his fiddle and making music for the other insects. He even bought a fancier, more expensive fiddle with a credit card.
His friend the ant, however, was different. He was often working, saving and planning for the future. The grasshopper liked the ant, but didn’t pay much attention when the ant tried to tell him about saving. He was more concerned with living in the moment.
Before the grasshopper knew it, summer was over. It was cold, and his heating bill was getting bigger. The grasshopper’s credit cards were maxed out, and he was running out of money. Worst of all, he was nearing retirement (bugs don’t live very long).
He asked around for help, but his credit score had taken a hit, and the other bugs were reluctant to lend him any money. Finally, he asked the ant for help. “I tried to tell you to save,” said the ant, “retirement without any money is going to be hard.”
The poor grasshopper was running out of options. If he couldn’t find a way out of this mess, he might have to ask the wolf for a loan…
The Moral of the Story:
Look, we’ve all overspent from time to time, and real life is more complicated than a fable. But far too many of us get caught up in the day to day and forget to put money away for retirement.
No matter your age, it’s never too late to get on the right path. Here aresome tips for getting some extra cash to stash away for the future.
The Tortoise and the Hare Race Against DebtJust down the road, there lived a tortoise and a hare. They had a lot of fun going to the grasshopper’s concerts, buying cool things and just enjoying life.
Soon, however, their credit cards were maxed out, and the interest was piling up fast.
The hare started paying it off as fast as he could. He made a lot of progress, but his cash flow was so tight that all it took was one accident to throw off his whole budget.
He had no emergency savings, so he had to use the credit card, undoing all the progress he made. He was back to square one.
The tortoise took a different approach. He picked one credit card and made small, consistent payments each month. He knew it would take time, but by doing this and saving enough for everyday problems, he slowly chipped away at the debt.
A year later, the tortoise was amazed by how much progress he’d made. His credit card was paid off! He’d crossed the finish line long before the hare, despite moving at a much slower pace.
The Moral of the Story:
If you want to pay off a credit card or achieve some other financial goal, it can feel discouraging when it doesn’t seem like you’re making progress. But if you take the slow and steady approach you will, eventually, get there.
The key is consistency; stay the course, and you’ll be amazed at how much progress you’ve made. Financial Security Doesn’t Have to Be Fiction
The next time you’re facing a financial challenge, just think back to these classic tales you heard as kid. You can learn lessons that apply in new ways as an adult — and that includes taking control of your finances.
Fables
The Milkmaid and Her PailPatty the Milkmaid was going to market carrying her milk in a Pail on her head. As she went along she began calculating what she would do with the money she would get for the milk. “I’ll buy some fowls from Farmer Brown,” said she, “and they will lay eggs each morning, which I will sell to the parson’s wife. With the money that I get from the sale of these eggs I’ll buy myself a new dimity frock and a chip hat; and when I go to market, won’t all the young men come up and speak to me! Polly Shaw will be that jealous; but I don’t care. I shall just look at her and toss my head like this. As she spoke she tossed her head back, the Pail fell off it, and all the milk was spilt. So she had to go home and tell her mother what had occurred. “Ah, my child,” said the mother, “Do not count your chickens before they are hatched.”
The Lesson: It’s fine to dream about what you will do with money you don’t yet have, but don’t get too excited and don’t count on it. Whether the money is coming from a tax refund, an inheritance, a bonus or raise, or some other source, you don’t have it yet. Until the money is actually in your hands, don’t spend it or make any promises about what you’ll do with it. Only when you have the money can you feel free to turn your dreams into reality.
The Ant and the GrasshopperIn a field one summer’s day a Grasshopper was hopping about, chirping and singing to its heart’s content. An Ant passed by, bearing along with great toil an ear of corn he was taking to the nest. “Why not come and chat with me,” said the Grasshopper “instead of toiling and moiling in that way?” “I am helping to lay up food for the winter,” said the Ant, “and recommend you to do the same.” “Why bother about winter?” said the Grasshopper; we have got plenty of food at present.” But the Ant went on its way and continued its toil.When the winter came the Grasshopper had no food and found itself dying of hunger, while it saw the ants distributing every day corn and grain from the stores they had collected in the summer.
Then the Grasshopper knew: It is best to prepare for the days of necessity.
The Cock and the PearlA cock was once strutting up and down the farmyard among the hens when suddenly he espied something shinning amid the straw. “Ho! ho!” quoth he, “that’s for me,” and soon rooted it out from beneath the straw. What did it turn out to be but a Pearl that by some chance had been lost in the yard? “You may be a treasure,” quoth Master Cock, “to men that prize you, but for me I would rather have a single barley-corn than a peck of pearls.”
The Lesson: Value is subjective. What one person finds valuable is useless to another. You may love new cars, another may find those to be a waste of money and instead value vacations. Value and desirability are different for everyone and you should know what it is you truly value. Otherwise, you’ll find value in everything and end up spending too much money to chase it all.Know what you want and can use and go after those. (And if something like a pearl comes along to you and you don’t want it, sell it and buy something that you do value.)
The Lesson: An oldie, but a goodie. It’s fine to have fun today, but you have to prepare for the future. You can have some fun today and buy frivolous things, but you also must prepare for emergencies, layoffs, and illnesses, as well as your long term future when you stop earning an income. If you do nothing but play, you’ll regret it when you really need money one day.
The Dog and The ShadowIt happened that a Dog had got a piece of meat and was carrying it home in his mouth to eat it in peace. Now on his way home he had to cross a plank lying across a running brook. As he crossed, he looked down and saw his own shadow reflected in the water beneath. Thinking it was another dog with another piece of meat, he made up his mind to have that also. So he made a snap at the shadow in the water, but as he opened his mouth the piece of meat fell out, dropped into the water and was never seen more.
The Lesson: Greed only brings trouble. When you to try to grab for too much, you often end up losing what you already had. Be content with what you have and what is reasonable and don’t be greedy.
The Hares and the FrogsThe Hares were so persecuted by the other beasts, they did not know where to go. As soon as they saw a single animal approach them, off they used to run. One day they saw a troop of wild Horses stampeding about, and in quite a panic all the Hares scuttled off to a lake hard by, determined to drown themselves rather than live in such a continual state of fear. But just as they got near the bank of the lake, a troop of Frogs, frightened in their turn by the approach of the Hares scuttled off, and jumped into the water.
Truly,” said one of the Hares, “things are not so bad as they seem.”
The Lesson: There is always someone worse off than yourself. While you don’t want to take joy in the misfortunes of others, it can be comforting in times of financial crisis to remind yourself that there are others out there who have it worse than you. Knowing this can give you the courage and strength to go on and fix your problems. Often just putting things in perspective makes them easier to deal with.
The Crow and the PitcherA Crow, half-dead with thirst, came upon a Pitcher which had once been full of water; but when the Crow put its beak into the mouth of the Pitcher he found that only very little water was left in it, and that he could not reach far enough down to get at it. He tried, and he tried, but at last had to give up in despair. Then a thought came to him, and he took a pebble and dropped it into the Pitcher. Then he took another pebble and dropped it into the Pitcher.Then he took another pebble and dropped that into the Pitcher. Then he took another pebble and dropped that into the Pitcher. Then he took another pebble and dropped that into the Pitcher. Then he took another pebble and dropped that into the Pitcher. At last, at last, he saw the water mount up near him, and after casting in a few more pebbles he was able to quench his thirst and save his life.
The Lesson: Whether it’s one pebble or one dollar at a time, big goals are often accomplished little by little. It may take a while, but you will accomplish your goal eventually, particularly if you are motivated by necessity.
The Goose With the Golden EggsOne day a countryman going to the nest of his Goose found there an egg all yellow and glittering. When he took it up it was as heavy as lead and he was going to throw it away, because he thought a trick had been played upon him. But he took it home on second thoughts, and soon found to his delight that it was an egg of pure gold. Every morning the same thing occurred, and he soon became rich by selling his eggs. As he grew rich he grew greedy; and thinking to get at once all the gold the Goose could give, he killed it and opened it only to find nothing.
The Lesson: When you get greedy, you can ruin a good thing. Like the farmer who killed his goose, a person who reaches for too much often finds that they lose everything. It’s better to accept your good fortune as it comes and to enjoy it rather than constantly reaching for more.
The Miser and His GoldOnce upon a time there was a Miser who used to hide his gold at the foot of a tree in his garden; but every week he used to go and dig it up and gloat over his gains.
A robber, who had noticed this, went and dug up the gold and decamped with it. When the Miser next came to gloat over his treasures, he found nothing but the empty hole. He tore his hair, and raised such an outcry that all the neighbors came around him, and he told them how he used to come and visit his gold. “Did you ever take any of it out?” asked one of them. “Nay,” said he, “I only came to look at it.” “Then come again and look at the hole,” said a neighbor; “it will do you just as much good.”
The Lesson: If you never intend to use your money, what good is it? While you want to save money for the future, you don’t want to become such a miser that you never spend or give away any of your money. If you never use the money, what’s the point of working to hard to get it? There is a fine line to walk between saving, spending, giving, and hoarding money. Try not to end up on the hoarding side.
The Fox Without a TailIt happened that a Fox caught its tail in a trap, and in struggling to release himself lost all of it but the stump. At first he was ashamed to show himself among his fellow foxes. But at last he determined to put a bolder face upon his misfortune, and summoned all the foxes to a general meeting to consider a proposal which he had to place before them. When they had assembled together the Fox proposed that they should all do away with their tails. He pointed out how inconvenient a tail was when they were pursued by their enemies, the dogs; how much it was in the way when they desired to sit down and hold a friendly conversation with one another. He failed to see any advantage in carrying about such a useless encumbrance. “That is all very well,” said one of the older foxes; “but I do not think you would have recommended us to dispense with our chief ornament if you had not happened to lose it yourself.”
The Lesson: Do not trust advice given by someone who has a stake in the outcome. Whenever you’re evaluating financial advice, consider whether or not your advisor has a stake in the outcome. If the person will benefit from the plan, ask yourself whether this is a plan you want to go along with, or whether the person, like the fox, is trying to get you to do something that will benefit him more than you.
THE MILLER, HIS SON, AND THEIR DONKEY
A miller, his young son, and their donkey were making their way into market, where the miller intended to sell the donkey. As they passed a house, a neighbor jeered at them. “What fools! See how they walk when they have a perfectly good donkey?”
So the miller, feeling embarrassed, had his son ride on the donkey. Later they passed a group of old men. “See?” said one of the men. “This goes to my point: the youth today have no respect for their elders. Here a tired old man is forced to walk while his young, lazy son rides at his side.”
Again embarrassed, the miller had his son dismount and sat upon the donkey’s back himself. Soon enough they came upon a group of wash women. “What a cruel old man!” said one of the women. “Riding so easy while his little son struggles to keep pace.”
So the miller had his son join him on the donkey and they rode together into town. There a man hailed them. “What a burden to place on a donkey! That’s too much weight. I’d say the pair of you are better suited to carry that donkey than he is to carry the pair of you.”
Hearing this, the miller and his son jumped off the donkey and hefted the unhappy beast up on their shoulders. They came to a bridge in the middle of the town and as they crossed the donkey became upset at the sound of the rushing water. The donkey kicked and bucked and fell out of the grasp of the miller and his son, tumbling down into the water and disappearing. Having nothing to sell, the miller and his son returned home empty-handed.
The lesson: In life you’re going to meet a lot of very well-intentioned people who think they know what’s best for you. They’ll question your choices and offer you their opinion of what’s best. A lot of times they’ll be wrong. Trust in yourself. Pick the path you think works best for you and don’t let the well-intentioned people in your life push you off that path. You may be wrong and things might not work out the way you think they will. That’s ok. Just be true to yourself and understand that missteps are still steps, and as long as you don’t lose sight of your chosen path you’ll eventually get where you want to be.
THE BOY AND THE HAZELNUTS
The little boy happened upon a large, stone pitcher filled with tasty hazelnuts. The boy slipped his hand through the narrow opening and grabbed a huge handful, but found that he couldn’t pull his hand back out of the jar. The boy yanked and yanked, but couldn’t pull his hand out, and so he started to cry. A man standing nearby said to the boy, “If you were satisfied with less, you could pull your hand out easily.”
The lesson: Pace yourself. There’s nothing wrong with big dreams, but sometimes when you try to grab everything at once, you end up with nothing at all. It’s the same thing with financial goals – slow down, and don’t be afraid to pick out a series of little goals, one at a time, rather than a massive handful of goals all at once.
THE MISER
An old man sells all of his goods for a large lump of gold, which he then proceeds to bury in a hole just outside his property. Every day he visits the spot, uncovering the gold, looking at it for a bit, then covering it back up.
One of the man’s employees notices this odd behavior and follows the old man. He sees the buried gold, and when the old man returns home, the employee removes the gold and runs away with it.
The next day the old man finds that his gold his missing and cries out in agony. A neighbor hears the old man’s story and suggests that he place a rock in the hole and cover it back up. “It makes no difference, does it? You didn’t do anything with the gold anyway.”
The lesson: Working hard is great. Making money is great. Saving money is fine. But money itself is nothing more than pieces of paper or lumps of minerals. Don’t forget that money’s true purpose is in service of a happy, healthy life. The size of the lump doesn’t make much difference if you don’t know how to use it to feel fulfilled.
THE BOY AND THE HAZELNUTS
And we don’t need to confine ourselves to the Grimm stories. Aesop was full of financial wisdom. “The Ant and the Grasshopper” tells you what you need to know about saving for a rainy day. The goose that laid the golden egg? It’s all about not letting greed get the best of your investing strategy. Poor Aesop never heard of exchange-traded funds or currency swaps. A little updating will make these babies hum.
And what about Hans Christian Andersen’s classic tale of the Little Match Girl? She is trying to sell matches on a frigid night, afraid to go home to her father who will beat her, and missing her grandmother, who had been kind. What if she simply had the foresight to put a little money away with each of the matches she sold? As financial experts tell us, anyone can save. “It didn’t take long for the little match girl to realize that even small investments in a no-load stock fund over time could bring financial security.” In the end, she gets a nice condo somewhere. It’s warm.
Little Red Riding Hood and the Predatory LenderOnce upon a time, Little Red Riding Hood needed a loan, so she set off on a journey to her trusted lender, Woodland Loans. Along the way, she passed a little cottage with a sign in the window which read “Woodland Loans,” but the logo looked different, the phone number had changed and she couldn’t remember ever seeing a location there before. A wolf leaned out the front door and called out to her: “Come on in, little girl! If you need a loan, we’ve got the best in the whole forest!”
Little Red went inside. “We’ll get you your money right away,” said the wolf with a grin, and began showing her all the different options.
“My, what big upfront payments you ask for,” she exclaimed.
“The better to assist you with, my dear” said the wolf, “they’re just normal fees to grant you the loan.”
She continued reading. “My, what little information you ask for…”
“The better to serve you, my dear,” he chuckled, “we don’t need your credit score or need to verify any income. Only those mean lenders ask for that…”
Little Red Riding Hood kept reading, but the wolf was growing impatient and began pressuring her to sign the loan agreement right away.
“My, how insistent you are,” she said, frowning.
“The better to SCAM you my dear,” laughed the wolf, flashing his teeth, “and once we’ve got your money, there’s nothing you can do about it!”
The Moral of the Story:
Unfortunately, there are some lenders out there that don’t have your best interest at heart. Sometimes they’re predatory lenders. Other times they might be not be real lenders at all, but criminals like the wolf in this story. In many cases they pose as legitimate companies and try to scam you or steal personal information.
Always do your due diligence and research the lender you’re dealing with, and the details of any offer you are considering. If it seems too good to be true, it usually is.
The Inattentive Deer
One day, a deer is feeding on the coast. She is worried that a farmer will come through the field and shoot her, so she feeds with her back to the sea so that she can keep an eye on the fields. However, while she is so focused on the fields, she doesn’t notice some fishermen come from the sea and throw their net over her.
From this fable, children can learn that it is important to stay focused on all of their future investments. Don’t overcompensate on one by only taking notice of that one. Otherwise, your others might suffer!
Fable # 3: The Cage Bird and The Bat
Moral: Precautions are useless after the crisis.
Personal Finance Lesson: It’s best to know your risk tolerance before you begin investing. One of the biggest mistakes investors make is pulling their money out of the market and into cash after the market goes down. Then waiting to after the market has already gone back up to get back in.
Fable # 4: The Hare and the Tortoise
Moral: Slow but steady wins the race.
Personal Finance Lesson: You don’t get rich overnight. You get rich by spending less than you earn month after month.
Fable # 5: The Miser and His Gold
Moral: Wealth unused might as well not exist.
Personal Finance Lesson: Personal finance isn’t about accumulating the most money. Personal finance is more about using your money in the most efficient way to get the most out of life.
The Ant’s and the Grasshopper’s Approaches to SavingLong ago in a meadow by the forest — not far from that mean old wolf’s house — a young grasshopper was enjoying his summer, never bothering to save for the future. He loved playing his fiddle and making music for the other insects. He even bought a fancier, more expensive fiddle with a credit card.
His friend the ant, however, was different. He was often working, saving and planning for the future. The grasshopper liked the ant, but didn’t pay much attention when the ant tried to tell him about saving. He was more concerned with living in the moment.
Before the grasshopper knew it, summer was over. It was cold, and his heating bill was getting bigger. The grasshopper’s credit cards were maxed out, and he was running out of money. Worst of all, he was nearing retirement (bugs don’t live very long).
He asked around for help, but his credit score had taken a hit, and the other bugs were reluctant to lend him any money. Finally, he asked the ant for help. “I tried to tell you to save,” said the ant, “retirement without any money is going to be hard.”
The poor grasshopper was running out of options. If he couldn’t find a way out of this mess, he might have to ask the wolf for a loan…
The Moral of the Story:
Look, we’ve all overspent from time to time, and real life is more complicated than a fable. But far too many of us get caught up in the day to day and forget to put money away for retirement.
No matter your age, it’s never too late to get on the right path. Here are
The Tortoise and the Hare Race Against DebtJust down the road, there lived a tortoise and a hare. They had a lot of fun going to the grasshopper’s concerts, buying cool things and just enjoying life.
Soon, however, their credit cards were maxed out, and the interest was piling up fast.
The hare started paying it off as fast as he could. He made a lot of progress, but his cash flow was so tight that all it took was one accident to throw off his whole budget.
He had no emergency savings, so he had to use the credit card, undoing all the progress he made. He was back to square one.
The tortoise took a different approach. He picked one credit card and made small, consistent payments each month. He knew it would take time, but by doing this and saving enough for everyday problems, he slowly chipped away at the debt.
A year later, the tortoise was amazed by how much progress he’d made. His credit card was paid off! He’d crossed the finish line long before the hare, despite moving at a much slower pace.
The Moral of the Story:
If you want to pay off a credit card or achieve some other financial goal, it can feel discouraging when it doesn’t seem like you’re making progress. But if you take the slow and steady approach you will, eventually, get there.
The key is consistency; stay the course, and you’ll be amazed at how much progress you’ve made. Financial Security Doesn’t Have to Be Fiction
The next time you’re facing a financial challenge, just think back to these classic tales you heard as kid. You can learn lessons that apply in new ways as an adult — and that includes taking control of your finances.
Fables
The Milkmaid and Her PailPatty the Milkmaid was going to market carrying her milk in a Pail on her head. As she went along she began calculating what she would do with the money she would get for the milk. “I’ll buy some fowls from Farmer Brown,” said she, “and they will lay eggs each morning, which I will sell to the parson’s wife. With the money that I get from the sale of these eggs I’ll buy myself a new dimity frock and a chip hat; and when I go to market, won’t all the young men come up and speak to me! Polly Shaw will be that jealous; but I don’t care. I shall just look at her and toss my head like this. As she spoke she tossed her head back, the Pail fell off it, and all the milk was spilt. So she had to go home and tell her mother what had occurred. “Ah, my child,” said the mother, “Do not count your chickens before they are hatched.”
The Lesson: It’s fine to dream about what you will do with money you don’t yet have, but don’t get too excited and don’t count on it. Whether the money is coming from a tax refund, an inheritance, a bonus or raise, or some other source, you don’t have it yet. Until the money is actually in your hands, don’t spend it or make any promises about what you’ll do with it. Only when you have the money can you feel free to turn your dreams into reality.
The Ant and the GrasshopperIn a field one summer’s day a Grasshopper was hopping about, chirping and singing to its heart’s content. An Ant passed by, bearing along with great toil an ear of corn he was taking to the nest. “Why not come and chat with me,” said the Grasshopper “instead of toiling and moiling in that way?” “I am helping to lay up food for the winter,” said the Ant, “and recommend you to do the same.” “Why bother about winter?” said the Grasshopper; we have got plenty of food at present.” But the Ant went on its way and continued its toil.When the winter came the Grasshopper had no food and found itself dying of hunger, while it saw the ants distributing every day corn and grain from the stores they had collected in the summer.
Then the Grasshopper knew: It is best to prepare for the days of necessity.
The Cock and the PearlA cock was once strutting up and down the farmyard among the hens when suddenly he espied something shinning amid the straw. “Ho! ho!” quoth he, “that’s for me,” and soon rooted it out from beneath the straw. What did it turn out to be but a Pearl that by some chance had been lost in the yard? “You may be a treasure,” quoth Master Cock, “to men that prize you, but for me I would rather have a single barley-corn than a peck of pearls.”
The Lesson: Value is subjective. What one person finds valuable is useless to another. You may love new cars, another may find those to be a waste of money and instead value vacations. Value and desirability are different for everyone and you should know what it is you truly value. Otherwise, you’ll find value in everything and end up spending too much money to chase it all.Know what you want and can use and go after those. (And if something like a pearl comes along to you and you don’t want it, sell it and buy something that you do value.)
The Lesson: An oldie, but a goodie. It’s fine to have fun today, but you have to prepare for the future. You can have some fun today and buy frivolous things, but you also must prepare for emergencies, layoffs, and illnesses, as well as your long term future when you stop earning an income. If you do nothing but play, you’ll regret it when you really need money one day.
The Dog and The ShadowIt happened that a Dog had got a piece of meat and was carrying it home in his mouth to eat it in peace. Now on his way home he had to cross a plank lying across a running brook. As he crossed, he looked down and saw his own shadow reflected in the water beneath. Thinking it was another dog with another piece of meat, he made up his mind to have that also. So he made a snap at the shadow in the water, but as he opened his mouth the piece of meat fell out, dropped into the water and was never seen more.
The Lesson: Greed only brings trouble. When you to try to grab for too much, you often end up losing what you already had. Be content with what you have and what is reasonable and don’t be greedy.
The Hares and the FrogsThe Hares were so persecuted by the other beasts, they did not know where to go. As soon as they saw a single animal approach them, off they used to run. One day they saw a troop of wild Horses stampeding about, and in quite a panic all the Hares scuttled off to a lake hard by, determined to drown themselves rather than live in such a continual state of fear. But just as they got near the bank of the lake, a troop of Frogs, frightened in their turn by the approach of the Hares scuttled off, and jumped into the water.
Truly,” said one of the Hares, “things are not so bad as they seem.”
The Lesson: There is always someone worse off than yourself. While you don’t want to take joy in the misfortunes of others, it can be comforting in times of financial crisis to remind yourself that there are others out there who have it worse than you. Knowing this can give you the courage and strength to go on and fix your problems. Often just putting things in perspective makes them easier to deal with.
The Crow and the PitcherA Crow, half-dead with thirst, came upon a Pitcher which had once been full of water; but when the Crow put its beak into the mouth of the Pitcher he found that only very little water was left in it, and that he could not reach far enough down to get at it. He tried, and he tried, but at last had to give up in despair. Then a thought came to him, and he took a pebble and dropped it into the Pitcher. Then he took another pebble and dropped it into the Pitcher.Then he took another pebble and dropped that into the Pitcher. Then he took another pebble and dropped that into the Pitcher. Then he took another pebble and dropped that into the Pitcher. Then he took another pebble and dropped that into the Pitcher. At last, at last, he saw the water mount up near him, and after casting in a few more pebbles he was able to quench his thirst and save his life.
The Lesson: Whether it’s one pebble or one dollar at a time, big goals are often accomplished little by little. It may take a while, but you will accomplish your goal eventually, particularly if you are motivated by necessity.
The Goose With the Golden EggsOne day a countryman going to the nest of his Goose found there an egg all yellow and glittering. When he took it up it was as heavy as lead and he was going to throw it away, because he thought a trick had been played upon him. But he took it home on second thoughts, and soon found to his delight that it was an egg of pure gold. Every morning the same thing occurred, and he soon became rich by selling his eggs. As he grew rich he grew greedy; and thinking to get at once all the gold the Goose could give, he killed it and opened it only to find nothing.
The Lesson: When you get greedy, you can ruin a good thing. Like the farmer who killed his goose, a person who reaches for too much often finds that they lose everything. It’s better to accept your good fortune as it comes and to enjoy it rather than constantly reaching for more.
The Miser and His GoldOnce upon a time there was a Miser who used to hide his gold at the foot of a tree in his garden; but every week he used to go and dig it up and gloat over his gains.
A robber, who had noticed this, went and dug up the gold and decamped with it. When the Miser next came to gloat over his treasures, he found nothing but the empty hole. He tore his hair, and raised such an outcry that all the neighbors came around him, and he told them how he used to come and visit his gold. “Did you ever take any of it out?” asked one of them. “Nay,” said he, “I only came to look at it.” “Then come again and look at the hole,” said a neighbor; “it will do you just as much good.”
The Lesson: If you never intend to use your money, what good is it? While you want to save money for the future, you don’t want to become such a miser that you never spend or give away any of your money. If you never use the money, what’s the point of working to hard to get it? There is a fine line to walk between saving, spending, giving, and hoarding money. Try not to end up on the hoarding side.
The Fox Without a TailIt happened that a Fox caught its tail in a trap, and in struggling to release himself lost all of it but the stump. At first he was ashamed to show himself among his fellow foxes. But at last he determined to put a bolder face upon his misfortune, and summoned all the foxes to a general meeting to consider a proposal which he had to place before them. When they had assembled together the Fox proposed that they should all do away with their tails. He pointed out how inconvenient a tail was when they were pursued by their enemies, the dogs; how much it was in the way when they desired to sit down and hold a friendly conversation with one another. He failed to see any advantage in carrying about such a useless encumbrance. “That is all very well,” said one of the older foxes; “but I do not think you would have recommended us to dispense with our chief ornament if you had not happened to lose it yourself.”
The Lesson: Do not trust advice given by someone who has a stake in the outcome. Whenever you’re evaluating financial advice, consider whether or not your advisor has a stake in the outcome. If the person will benefit from the plan, ask yourself whether this is a plan you want to go along with, or whether the person, like the fox, is trying to get you to do something that will benefit him more than you.
THE MILLER, HIS SON, AND THEIR DONKEY
A miller, his young son, and their donkey were making their way into market, where the miller intended to sell the donkey. As they passed a house, a neighbor jeered at them. “What fools! See how they walk when they have a perfectly good donkey?”
So the miller, feeling embarrassed, had his son ride on the donkey. Later they passed a group of old men. “See?” said one of the men. “This goes to my point: the youth today have no respect for their elders. Here a tired old man is forced to walk while his young, lazy son rides at his side.”
Again embarrassed, the miller had his son dismount and sat upon the donkey’s back himself. Soon enough they came upon a group of wash women. “What a cruel old man!” said one of the women. “Riding so easy while his little son struggles to keep pace.”
So the miller had his son join him on the donkey and they rode together into town. There a man hailed them. “What a burden to place on a donkey! That’s too much weight. I’d say the pair of you are better suited to carry that donkey than he is to carry the pair of you.”
Hearing this, the miller and his son jumped off the donkey and hefted the unhappy beast up on their shoulders. They came to a bridge in the middle of the town and as they crossed the donkey became upset at the sound of the rushing water. The donkey kicked and bucked and fell out of the grasp of the miller and his son, tumbling down into the water and disappearing. Having nothing to sell, the miller and his son returned home empty-handed.
The lesson: In life you’re going to meet a lot of very well-intentioned people who think they know what’s best for you. They’ll question your choices and offer you their opinion of what’s best. A lot of times they’ll be wrong. Trust in yourself. Pick the path you think works best for you and don’t let the well-intentioned people in your life push you off that path. You may be wrong and things might not work out the way you think they will. That’s ok. Just be true to yourself and understand that missteps are still steps, and as long as you don’t lose sight of your chosen path you’ll eventually get where you want to be.
THE BOY AND THE HAZELNUTS
The little boy happened upon a large, stone pitcher filled with tasty hazelnuts. The boy slipped his hand through the narrow opening and grabbed a huge handful, but found that he couldn’t pull his hand back out of the jar. The boy yanked and yanked, but couldn’t pull his hand out, and so he started to cry. A man standing nearby said to the boy, “If you were satisfied with less, you could pull your hand out easily.”
The lesson: Pace yourself. There’s nothing wrong with big dreams, but sometimes when you try to grab everything at once, you end up with nothing at all. It’s the same thing with financial goals – slow down, and don’t be afraid to pick out a series of little goals, one at a time, rather than a massive handful of goals all at once.
THE MISER
An old man sells all of his goods for a large lump of gold, which he then proceeds to bury in a hole just outside his property. Every day he visits the spot, uncovering the gold, looking at it for a bit, then covering it back up.
One of the man’s employees notices this odd behavior and follows the old man. He sees the buried gold, and when the old man returns home, the employee removes the gold and runs away with it.
The next day the old man finds that his gold his missing and cries out in agony. A neighbor hears the old man’s story and suggests that he place a rock in the hole and cover it back up. “It makes no difference, does it? You didn’t do anything with the gold anyway.”
The lesson: Working hard is great. Making money is great. Saving money is fine. But money itself is nothing more than pieces of paper or lumps of minerals. Don’t forget that money’s true purpose is in service of a happy, healthy life. The size of the lump doesn’t make much difference if you don’t know how to use it to feel fulfilled.
THE BOY AND THE HAZELNUTS
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