Finance
Teacher using 'Lattimore Bucks' to teach personal finance
CHARLOTTE, N.C. — Every Monday, Renaissance West STEAM Academy math teacher Shelby Lattimore starts her class by charging her students for their seats, not with U.S. currency but with “Lattimore Bucks.” It’s a project she started last year as a way to improve attendance.
“It’s not just about having them here,” Lattimore said. “It’s about having them here for the whole day from start to finish, ready to rock and roll. On top of the fact, just to get them accountable for their behavior and taking accountability for certain things in the classroom.”
Each student is assigned a job in the classroom, which rotates every two weeks.
“These are their jobs,” Lattimore said. “If they’re underlined, they get paid $10. So those are the harder jobs they have to do every day. And then the ones that are not underlined, like this one, he just has to change my calendar. He just has to change the day on the board, like once in the morning so he doesn’t get paid as much.”
With their salaries, her students pay their rent for their seats.
“Their rent was inflated as of January, from $5 to $7,” Lattimore said.
And if students misbehave, they’re fined.
“Like if you purposely lose your pencil, rip your notebook, things of that sort and then of course disrespect,” Lattimore said. “And their fines are a dollar.”
The more Lattimore Bucks they save, the more rewards they can buy. That is, as long as they have enough to pay their rent.
“Let’s say they have $10, but they want to buy lunch with a friend. If I do 10 minus 5, you’re not, you don’t have $7 for your next rent. So they cannot buy anything past their rent that they have to keep in their wallet,” Lattimore said.
While the project may have started to improve effort in the classroom, Lattimore says it’s morphed into a much bigger lesson for her students.
“Some of their parents, you know, thank me all the time,” Lattimore said. “We talk about all the time in Charlotte, generational poverty is a huge statistic here, especially in the kids and the families that we serve in my school.”
She’s instilling lessons of personal finance and budgeting into the lessons every day.
“So just starting the mindset of how can I hold onto money? How can I make long-term decisions with my money? It all starts from a very young age in a safe environment before they’re out in the real world,” Lattimore said.
It’s done in hopes of setting up her students for the future.
“Even my students from last year, they are telling me that they’re saving their money, and they’re budgeting their Christmas money for a pair of sneakers or whatever they want,” Lattimore said. “So they’re holding onto the lesson. So I can only imagine a couple of years from now when they’re adults, how that will affect their family.”
Lattimore says other teachers she knows have started similar programs in their own classrooms. She says the concept can be used at any school for any grade level as a simple way to teach basic finances.
Finance
How to stay protected from pig butchering financial scams? Here are 7 key steps
In simpler terms, pig butchering is a version of smishing where scammers use social media platforms for cyber theft. As the name suggests, the victim is being ‘fattened up’ through validation and friendship before ‘butchering’ i.e. stealing of funds. A simple ‘Hi/Hello’ on a social media platform from a stranger’s profile can turn into a big scam.
Also Read: ‘Pig butchering’ scams: Zerodha’s Nithin Kamath explains how these work, shares ways to remain protected
How does the pig butchering scam happen?
Receiving messages or calls from wrong numbers was a rare occurrence a few years back. However, calls, text messages and connection requests from unknown people are becoming a frequent event on social media and dating applications. As the online relationship progresses, the scammer introduces what seems like a golden investment opportunity.
This less recognized yet equally harmful tactic involves fake job offers. Here, scammers prey on job seekers by offering attractive positions, sometimes overseas. They use emotional manipulation to build trust.
Scammers often go the extra mile by creating fake apps and websites that mimic real financial institutions. Throughout the scam, there’s a heavy reliance on emotional manipulation. The scammer might act as a romantic interest or a supportive friend. This emotional connection makes it harder for the victim to doubt their intentions.
Once trust is established and the victim is emotionally invested, significant financial transactions are initiated. Whether it’s through fake investments or fraudulent job offers, the end goal is the same: to drain as much money as possible from the victim.
Also Read: Beware of Scams: Tips for safely investing in the digital world
Important steps to protect from these scams
Stay informed: The first step in protecting yourself from financial fraud is to be aware that these scams exist. Knowing how they work can help you identify and avoid them before it’s too late. Scammers are constantly devising new and sophisticated tactics to exploit vulnerable people, so it’s important to stay vigilant.
Always double-check: If someone online suggests an investment or job, research it thoroughly. Look up the company or offer online, read reviews, and see if it’s recognized by official authorities.
Be vigilant with online friends: Always be cautious when talking to people you just started talking with, especially if they start talking about finances or investments. Avoid discussing financial matters with people online.
Keep personal information to yourself: Never share your personal or financial details like bank account details, passwords, and other sensitive information with someone you’ve just met online. Sharing personal information makes it easier for scamsters to hack into your bank accounts, so be wary of who you share it with.
Never make rushed financial decisions: If you’re being pressured to invest quickly or pay for a job opportunity, that’s a major red flag. Scammers often try to create a sense of urgency, pushing you to act before you have time to think it over. Take the time to verify the legitimacy of any investment or job prospect.
Always check the source: Don’t just take their word for it. Do your research. Look up the company or investment platform they mention. Check for the company’s physical address, licensing information, customer reviews, and social media presence. Cross-reference details across multiple reliable sources.
Get a second option before investing: Before making any investment or sharing personal details, talk to someone you trust like a family member who knows finances, a friend or a professional financial advisor. Sometimes, just talking about it out loud can reveal red flags you might not have noticed initially.
Also Read: Shielding your digital assets: How cyber insurance can provide a safety net in the face of growing cyber threats
Key takeaway
While scammers continue to devise new and sophisticated tactics, arming oneself with awareness, caution, and diligence is the key. By staying alert to the warning signs, verifying the legitimacy of any opportunities presented, and resisting the urge to make rushed decisions, individuals can significantly reduce their risk of becoming victims.
If a proposition or investment opportunity seems too good to be true, trust your instincts and analyse it carefully. It’s better to miss out on a potential opportunity than to lose your hard-earned money to a clever con artist.
Dhiren .V. Dedhia, Head – Enterprise Solutions, CrossFraud
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Published: 27 Apr 2024, 10:31 AM IST
Finance
Britney Spears and Her Father Settle Dispute Over Alleged Financial Misconduct During Conservatorship
Watch Latin American Music Awards
Britney Spears has settled a dispute over legal fees with her dad, and former conservator, Jamie Spears.
The pair settled an enduring debate over Jamie’s legal fees and his management of Britney’s finances in Los Angeles Superior Court on April 25, the New York Times reported Friday afternoon. Britney’s legal team, led by attorney Mathew S. Rosengart, was fighting to keep their client from having to pay her father’s legal bills, mainly on the basis Jamie had allegedly misused his authority as Britney’s conservator — a role he held up until September 2019 — to pay himself $6 million.
Terms of the settlement were not widely disclosed but in a statement issued Friday, Rosengart said Britney had finally fulfilled her goal of obtaining total freedom: “As she desired, her freedom now includes that she will no longer need to attend or be involved with court or entangled with legal proceedings in this matter.” He continued by stating “it has been our honor and privilege to represent, protect, and defend Britney Spears.”
With this move, Jamie and Britney avoid having to go to trial over the alleged financial misconduct during her conservatorship.
Details on the conclusion to this case are sparse in comparison to the media frenzy that first ensued over two years ago. Everything changed for Britney after she publicly addressed a court in Los Angeles on June 23 of 2021, telling the judge that she was “traumatized” and held against her will, with all of her rights stripped away by her conservators, including her father, who at one point she said she wanted jailed. “I just want my life back,” the singer said.
Since leaving the conservatorship ended, Spears has sold over 2 million copies of her best selling memoir, “The Woman in Me,” and has released music with Elton John and Will.i.am. Still, Britney has been adamant that a career in music is no longer a priority of hers. When rumors began circulating that her team was ushering her to put out an album, Britney wrote on Instagram: “They keep saying I’m turning to random people to do a new album … I will never return to the music industry.”
Finance
Finance Deals of the Week: $52M Construction Loan for S.C. Apartments
It was a lighter week on the financing front, but there were still some notable deals that closed including a $52 million construction loan from North River Partners and Amzak Capital Partners on Miami-based One Real Estate Investment’s 316-unit apartment project in Columbia, S.C. Huntington National Bank and Nuveen Green Capital also teamed up to provide a combined $40.5 million construction loan for Stark Enterprises’ build-to-rent residential project in northern Florida. Here are the rest of the deals.
Loan Amount | Lender | Borrower | Address | Asset | Broker |
---|---|---|---|---|---|
$52 million | North River Partners and Amzak Capital Partners | One Real Estate Investment | 4415 Percival Road; Columbia, S.C. | Multifamily | Berkadia’s Brad Williamson, Scott Wadler, Mitch Sinberg and Matt Robbins |
$41 million | Huntington National Bank and Nuveen Green Capital | Stark Enterprises | 16152 SE 77th Court; Summerfield, Fla. | Build-to-Rent | N/A |
$29 millon | Bayview Asset Management | ASG Equities | 502 86th Street; Brooklyn, N.Y. | Mixed-Use | Ripco’s Steven Sperandio, Michael Fasano and Jake Weiss |
$27 million | Citigroup | The Mann Group and True North Management | Nine-building portfolio | Multifamily | JLL’s Scott Aiese and Alex Staikos |
$27 million | Berkadia | Bozzuto Group | 1200 North Queen Street; Rosslyn, Va | Multifamily | N/A |
Finance Deals of the Week reflect deals closed or announced from April 22 to April 26. Information on financings can be sent to editorial@commercialobserver.com.
502 86th Street, ASG Equities, Berkadia, Bozzuto Group, Huntington National Bank, Nuveen Green Capital, One Real Investment, Ripco, Stark Enterprises, The Mann Group, True North Management
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