For the seventh year running, Danish schools are taking part in Money Week. Besides financial topics the teaching will – as something new – focus on fraud via ‘mules’.
During the week more than 700 school classes will get a visit from the banks in Denmark. In Danske Bank we will visit 400 school classes to help with the education in financial topics, including budgets, savings, APR and interest rates.
Fraud via mules
Digital safety is also a theme this year during Money Week, and a new topic is fraud via mules, where criminals are trying to are exploit children and young people for financial crime by tricking them into becoming mules, so they are used for money laundering.
“Unfortunately we are seeing more and more young people being exploited as mules, so it’s important to raise the awareness about what signs to pay attention to, and not for example help strangers on the street transfer money, even though it might seem completely innocent”, says Ketil Clorius, Head of Danske Bank’s Fraud Management unit.
The Danish Association of Teachers of Mathematics has developed material
Finance Denmark has developed the Money Week teaching material in collaboration with the Danish Association of Teachers of Mathematics, and the objective of Money Week is to instil the topic of personal finances among seventh- to ninth-grade pupils in Denmark. Danske Bank has supported Money Week since 2014, where the initiative took place for the first time.
“We really want to support Money Week and help young people create healthy financial habits early, so they don’t make unfortunate decisions, when they enter adult life and have to manage their own finances, says Anne Juel Jørgensen, Head of educational initiatives in Danske Bank targeted at childrens and young people. She also adds, that Danske Bank conduct several other teaching lessons around the year on schools in Denmark.
According to numbers from the Experian RKI register (Danish credit reference agency) approximately 46,500 young people between the age of 18 and 30 are registered as persons with a bad credit score or credit rating. To avoid debt it is important to be able to manage your finances via e.g. a budget.
A principal learned one student’s family is getting evicted. Now she’s working to find them a home
CAPE CORAL — A school principal is working this holiday season to find a home for some of her students.
Shelly Homan posted a plea to Facebook after she learned one of her students’ families was being evicted with nowhere to go. Homan is the Principal here at Heritage Charter Academy. She was helping families in need by telling them about the turkey giveaway sponsored by Cape Coral Police, when she met Vincent Ponzo’s grandchildren.
“When I asked them about the Thanksgiving dinner that the police department was giving away, I found out that they were also going to be homeless,” said Homan.
Ponzo has been looking for a new home for months, but he has bad credit, and doesn’t have enough saved for first and last month’s rent plus a security deposit.
“We’re just running out of time and options at this point, and we’re not bad people. We work hard. I’m the general manager at a restaurant, my wife works for Instacart. My daughter is trying to raise her three kids in our home,” said Ponzo.
So Homan posted an SOS on Facebook, looking for a landlord willing to rent to them. It got a lot of attention.
“Shelly called me, and I was like what did you do? And she was, oh I just put a post out, and next thing you know I’m getting all this feedback from it,” said Ponzo.
“My focus is that the kids are in a home for the holidays. So whatever, whatever I have to do to reach out. The worst people can say is no I can’t help,” said Homan.
But Homan said people have already reached out trying to help. Ponzo said he hopes he can find a home soon, but he also said his story is just one of many this holiday season.
“This takes a lot for me to stand in front of everybody and go this is what’s going on, but if I don’t do it, maybe some other guy wishes somebody did that’s about to get kicked out of his house because he’s going through the same thing or worse,” said Ponzo.
If you are interested in helping Ponzo and his family, you can call the Heritage Charter Academy at (239) 223-7530.
Savvy Group Real Estate Partners With Frazier Credit Services to Make Property Purchase in Columbus, Ohio Available to All – Press Release
Martin Lewis issues guidance on using credit cards to build ratings – best deals | Personal Finance | Finance
Martin Lewis regularly urges savers to use caution when utilising debt themed products but at the same time, he acknowledges the need for a decent credit rating to get by financially. Today, the Money Saving Expert was questioned by viewer Miranda on how one can build their credit rating in difficult circumstances.
“What I’d then like you to do is go and do £50 a month of normal spending on it, things you’d buy anyway.
“[Then] Make sure you pay the card off in full every month, preferably by direct debit so you’re never missing it because the interest rate is hideous.
“That way you won’t pay any interest.
“You do that for a year, you’ll start to build that credit history, showing them you’re a good credit citizen.
“Then you’ll be able to move into the sort of more normal credit card range.
“So, bizarrely, to get credit you need credit. What credit will you get? Bad credit, go get the bad credit just make sure it doesn’t cost you.”
Consumers of all kinds may not have the best options at the moment as recent analysis from moneyfacts.co.uk revealed.
In mid-November, they detailed that a number of high street banks have cut the perks and interest on a number of their current account deals.
On top of this, the Bank of Scotland and Lloyds Bank made credit interest cuts of up to 0.5 percent.
Rachel Springall, a Finance Expert at moneyfacts.co.uk commented on the few options consumers and savers currently have available: “Clearly, it is vital consumers decide carefully if now is the time to switch, but if they wait too long, they may well miss out on a free cash switching perk.
“At present, providers will be assessing how they can sustain any lucrative offers in light of the pandemic.
“With this in mind, we could well see more changes in the months to come and if this does indeed occur, consumers would be wise to review whether their account is still worth keeping.”
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