Maoliworld
Ke Ao Maoli
Money Management and taking care of business.
This especially important today in that economic crunch we live in and must follow the money to control it. It would be good to teach this to your children to avoid the pitfalls they will encounter:
Barter System is compensation for the work you do in exchange for something both parties agree on. To exchange or give in exchange; doing something for something. You have something someone wants and are willing to exchange it for something you want.
This can be done in a couple of ways: Doing something that a person needs or giving something that person needs in exchange for what you want and exchanging something for money (currency).
Money is any form of token, as coin, banknote, used as a method of exchange authorized by state government known as currency. Money is like a promissory note which affects one's honor and integrity. This is conveyed through cash/coins that are commonly accepted for services and/or goods. It is a form of a barter system commonly accepted. This is used either by the actual exchange of currency or a personal promissory note such as a check of which you put your money into a financial institution as a bank where it can be redeemed for currency or a credit card or a debit card.
How to control your money:
You can use a bank or financial institution to safely hold on to your money you earned and accummulated. They save it for you until you wish to use it. The other way is to use their credit card which is a loan or advancement of cash that you have to repay for a fee. The other choice is to save and hold your cash at home or on your person which can be considered unsafe as it may be lost or stolen.
Understanding Credit and Debit
Credit - The amount of currency at one's disposal usually at a bank; in commerce (buying and selling) the general system of buying, borrowing and lending based on good faith and confidence. A collection of currency used to buy goods and services.
Debit - It is opposite of credit; an item entered on debtor side of an account; to charge with debt. Something owed to another; a liabilty (answerable and responsible or obligation); debts.
Simply put: credit = plus and debit = minus.
Budgeting and Keeping Track of Your Money
Budget is a plan for systematic spending. To plan one's spending of money and visibly see where you money is going. To list your sum of money you receive and put that against the money you spend or debts you have incurred or built up which you are obligated to pay. List what you earn and what expenses you have to pay out to settle your debts you have made.
To live within your means or what you can afford to spend without going into constant debt, you need to write out a budget to fulfill your obligations so as not to spend over what you earn to exchange for the goods and services you desire and want.
In your budget, you want to make sure you have some money to save for unseen or sudden expenses that may come up unexpectedly. The object or goal is to make sure you do not owe money you do not have. Your word and statements, things you say, depend on your honor and integrity which preserves your credibilty and ability to pay for something in exchange of what you want and need.
To do this, make a list of your earnings or credit you know you have and list what it is to be spent on; which is listed as your debit. Subtract or take away what you spent from the money you have accummulated or saved. This lets you know how much money you have and on what you are spending with it. This tells you whether you are living within your means (what you can afford) or not and how to fix any money problems you may have in doing your money management.
You want to make sure you have saved enough for emergencies by setting money aside as a savings to protect your liability.
.............
Recognize this U.S. American culture is conditioned on consumer spending and buying whether we need the products or not. One can see how media programs, ads, emphasizes on keeping up with the "Joneses" using sales and marketing techniques to induce one to spend money. There is a widening of the earning power versus the cost of living that has increase remarkably to enslave the everyday person. Financial institutions encourage you to borrow money to meet your created needs; making you beholden to them.
Beware of the buy now; pay later schemes of businesses. What sounds like a deal and savings will cost you more in the end. The worst scenario is having a credit card where interests can generally be up to 30% charged against you plus fees. The trick is paying off the interest rather than the amount of the loan. There are many pitfalls for the consumer; you have money they want and will help you spend it in creative ways to get the "piece of your pie". In order to do that, they will tell you what you need or want and not necessarily what you truly need.
Barter System is compensation for the work you do in exchange for something both parties agree on. To exchange or give in exchange; doing something for something. You have something someone wants and are willing to exchange it for something you want.
This can be done in a couple of ways: Doing something that a person needs or giving something that person needs in exchange for what you want and exchanging something for money (currency).
Money is any form of token, as coin, banknote, used as a method of exchange authorized by state government known as currency. Money is like a promissory note which affects one's honor and integrity. This is conveyed through cash/coins that are commonly accepted for services and/or goods. It is a form of a barter system commonly accepted. This is used either by the actual exchange of currency or a personal promissory note such as a check of which you put your money into a financial institution as a bank where it can be redeemed for currency or a credit card or a debit card.
How to control your money:
You can use a bank or financial institution to safely hold on to your money you earned and accummulated. They save it for you until you wish to use it. The other way is to use their credit card which is a loan or advancement of cash that you have to repay for a fee. The other choice is to save and hold your cash at home or on your person which can be considered unsafe as it may be lost or stolen.
Understanding Credit and Debit
Credit - The amount of currency at one's disposal usually at a bank; in commerce (buying and selling) the general system of buying, borrowing and lending based on good faith and confidence. A collection of currency used to buy goods and services.
Debit - It is opposite of credit; an item entered on debtor side of an account; to charge with debt. Something owed to another; a liabilty (answerable and responsible or obligation); debts.
Simply put: credit = plus and debit = minus.
Budgeting and Keeping Track of Your Money
Budget is a plan for systematic spending. To plan one's spending of money and visibly see where you money is going. To list your sum of money you receive and put that against the money you spend or debts you have incurred or built up which you are obligated to pay. List what you earn and what expenses you have to pay out to settle your debts you have made.
To live within your means or what you can afford to spend without going into constant debt, you need to write out a budget to fulfill your obligations so as not to spend over what you earn to exchange for the goods and services you desire and want.
In your budget, you want to make sure you have some money to save for unseen or sudden expenses that may come up unexpectedly. The object or goal is to make sure you do not owe money you do not have. Your word and statements, things you say, depend on your honor and integrity which preserves your credibilty and ability to pay for something in exchange of what you want and need.
To do this, make a list of your earnings or credit you know you have and list what it is to be spent on; which is listed as your debit. Subtract or take away what you spent from the money you have accummulated or saved. This lets you know how much money you have and on what you are spending with it. This tells you whether you are living within your means (what you can afford) or not and how to fix any money problems you may have in doing your money management.
You want to make sure you have saved enough for emergencies by setting money aside as a savings to protect your liability.
.............
Recognize this U.S. American culture is conditioned on consumer spending and buying whether we need the products or not. One can see how media programs, ads, emphasizes on keeping up with the "Joneses" using sales and marketing techniques to induce one to spend money. There is a widening of the earning power versus the cost of living that has increase remarkably to enslave the everyday person. Financial institutions encourage you to borrow money to meet your created needs; making you beholden to them.
Beware of the buy now; pay later schemes of businesses. What sounds like a deal and savings will cost you more in the end. The worst scenario is having a credit card where interests can generally be up to 30% charged against you plus fees. The trick is paying off the interest rather than the amount of the loan. There are many pitfalls for the consumer; you have money they want and will help you spend it in creative ways to get the "piece of your pie". In order to do that, they will tell you what you need or want and not necessarily what you truly need.
Views: 97
Replies to This Discussion
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Permalink Reply by Ululani on
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Aloha kaua e Tane.
I would also add the "value of land" and how it can be used as positive leverage for one's future.
Of course they do not teach this in public schools or at Kamehameha Schools but land is an appreciable asset and can apprciate more than the purchasing power of the dollar. So in that sense I think that in a model of money land as an appreciable asset should also be mentioned.
In some way I think that knowing the value in land as more than "mother" or "father" land and how others view it can materially affect the decisions of a keiki and their relationship to money.
Malama, Lana
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Permalink Reply by Tane on
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Aloha Lana:
It is good that you brought this up. Land is Power by Gavin Daws has proved this time and again; something we were always aware of. This is in the realm of investments which would be a step after managing one's finances, I wanted to propose a simple guideline that parents can use to share with their children and have them understand finance early in their lives so it will enpower them to manage their money from an early age to adulthood. I saw my parents work out a written budget and found ways to be frugal. I come from a large family of ii siblings and it was crucial to watch how the money was spent.
I tried to put it in a nutshell so the keiki can understand the dynamics of it and act accordingly. You are so correct that the next step would be smart investments to make your money work for you rather than you be a slave to it through the living from paycheck to paycheck. With us today, the disparity of earning power vs. cost of living is widening more than ever since I was a child and more difficult now. Any suggestions would be more than welcome to see how we can overcome this predictable shortcoming in the economy which the media and government glosses over and puts bandaids to the problem instead of tackling the real reason for this enslavement. Mahalo Lana, I'm so happy you introduced the next step for people to evaluate.
Love always your mana'o,
Tane
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Aloha Lana:
It is good that you brought this up. Land is Power by Gavin Daws has proved this time and again; something we were always aware of. This is in the realm of investments which would be a step after managing one's finances, I wanted to propose a simple guideline that parents can use to share with their children and have them understand finance early in their lives so it will enpower them to manage their money from an early age to adulthood. I saw my parents work out a written budget and found ways to be frugal. I come from a large family of ii siblings and it was crucial to watch how the money was spent.
I tried to put it in a nutshell so the keiki can understand the dynamics of it and act accordingly. You are so correct that the next step would be smart investments to make your money work for you rather than you be a slave to it through the living from paycheck to paycheck. With us today, the disparity of earning power vs. cost of living is widening more than ever since I was a child and more difficult now. Any suggestions would be more than welcome to see how we can overcome this predictable shortcoming in the economy which the media and government glosses over and puts bandaids to the problem instead of tackling the real reason for this enslavement. Mahalo Lana, I'm so happy you introduced the next step for people to evaluate.
Love always your mana'o,
Tane
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Permalink Reply by HALE O KEAWE-A-HEULU aka: NAIHE on
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MAIKA'I UNCLE...SO TRUE...SO TRUE
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Permalink Reply by Sandra Brown on
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Money management plays a significant role in keeping a proper track record of our finances through out our life. Therefore a need arises that we should learn money management, right from an early age. And what can be better source than school.
Money management should be taught as a separate subject in schools. This will help the kids to take rational decisions while dealing with the financial issues in the long run.
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Permalink Reply by naone morinaga on
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Aloha, Tane--
How about a move toward a Maoli National Bank - where the Nation has their own currency. Currently the US is at the mercy of the Federal Reserve bank, which is a private corporation, run by elitists who work for control of the world through a global economy. If you look on your Federal Reserve Bank note (dollar bill), they are the ones who control the supply of money. They print all this money which causes inflation, we are beholding to the Reserve dollar and working for the Man, trying to keep up with just keeping up. Either the US has to start printing their own money and Kanaka Maoli need to Stick to the Man. There have been calls to investigate the Federal Reserve Bank, which the US Govt borrows from. In my mana`o, the Kanaka Maoli nation can disassociate from the Federal Reserve Bank, and have their own currency..Didnt the Kingdom have their own currency, and what was it backed up by? Did the Kingdom have their own gold to back it up? Does anyone have an idea of the
Kingdoms banking system?
The Blackfeet in Montana have their own bank, but its still regulated by the Man (the Feds), FDIC, using Federal reserve bank currency. The woman who started it Eloise Cobell (an accountant for the BIA)was the person who brought a class action lawsuit against the Bureau of Indian Affairs (BIA) citing mismanagement of Indian Trust funds in the millions of dollars. Cobell vs. Norton (Dept of Interior). This is what Kanaka Maoli is headed for if the Akaka Bill passes....Maoli will be a part of the Dept. of Interior, and subject to the gross mismanagement of the DOI.
Mahalo for your mana`o..for the tips,very useful for us guys struggling, Naone
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Yes the Kingdom had its own currency backed by gold. Much were swindled or stolen by the white man in different scenarios since Liholiho's time. The Captain who took the King and the Queen to England, a sailor set adrift from one of the South American ports, and the Captain who returned the bodies of the Mo-i are suspect of the theft of the King's gold chest.
A side note is the conspirators of 1893, Thurston, Dole, et al, had a silver smith melt down Hawaiian silver coins to create a silver teaset and tray for U.S. John Levitt Stevens in appreciation for his help and protection of them and in aiding and abetting in the over-all scheme.
Being part of the international postal union, Hawaii also had its own postage stamps. The Kingdom exported many agricultural products besides sugar and also did the laundry for the Californians' affluent in their society during the gold rush era. Pulu was gathered and sold to the West for mattress-filling. That didn't last too long because it deteriorated too quickly. The Hawaiian Kingdom was one of the richest countries per capita of its time. Bishop started the first national bank of the Kingdom along with his friend, (senior moment, I forget the other man's name). It was Bishop Bank, then the First National Bank of Hawai'i and now known as First Hawaiian Bank. The monies of the Kingdom has never been recovered. Some of the funds are held in European Banks as well. Some are also supposed to be held in trust.
You are correct in your suspicions. U.S. Congress at the suggestion of Sen. McCain wants to settle for a few million U.S. dollars, about 1/4th of what it really owes which is about 2 billion dollars. This racist white supremacist country promotes the doctrines of manifest destiny and the calvinist's dogma of predestination.
The U.S. and pro-Akaka bill supporters, wants native Hawaiians on parity with the native Americans. This means, eliminating the non-kanaka maoli Hawaii nationals and demoting the native Hawaiian status as a national of the Hawaiian Kingdom on par with the U.S. citizen, to a lesser status as an indigenous native American subject to the racist plenary power of the U.S. Congress with dependent sovereignty or whatever nice feeling-like name to resemble a nation to nation when it is really a nation within a nation (belligerent occupation).
Bumpy Kanahele has been attempting to start a Hawaiian Kingdom Bank but has run up against some walls. I hope he does get successful in this economic endeavor. Remember the Kingdom inter-related with the family of nations and conducted its business in like manner. All nations at that time universally exchanged in currency back by gold and silver although it was based under the gold system. Gold and silver was the only legal means to sell allodial title of one's property back in those days and it should still hold true. President Nixon tried to change all that. This is another deep topic I'd rather not get into because of its complexities and lengthiness.
U.S. Government surrendered its authority to coin money and left it to a private company contrary to the American ideals. Now that company prints its own money and charges interest to the U.S. government. It was a form of a coup de tet. In the 1920 or 30s, they outlawed the use of gold coins and did silver certificates which they eliminated in the early 1960s and replaced it with the Federal Reserve Note. This is when the coins were no longer pure silver but an alloy, even the penny is an alloy and not pure copper. The silver dollar is no longer pure silver. Many believe they are using government money but it is really a private company that got the U.S. government by the balls. Paper money is really a promissory note like a check you write from your checkbook, nothing more than that. It's backed by Good Wishes, that is it.
Tane
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Mahalo Tane for the great background information on the Kingdom currency. I am hoping for a Maoli -controlled bank (with Hawaiian currency?) To get out from under the thumb of the Federal reserve bank.
The Great Sioux Nation was also offered millions to compensate for the stolen Black Hills ( I believe the fund is in excess of 13.5 million), but they have never taken the money. They want the sacred lands back.
The Akaka Bill supporters selling out...in the amount of a piddly few million? Akaka Bill-peanuts, the `aina-priceless.
Kanaka Maoli will never take the money in exchange for sovereignty and the lands. If Akaka supporters only knew what Indians have gone through under US colonization and the plenary power of Congress. They have no say in anything because Tribes eventually have to go through the BIA supervisor and the Man for approval...how is that self determination? Haunani, Micah, the CNHA should go live on the Rez for a few years and see and hear why they are killing Maoli. The suicide rate among Indian youth is pandemic, especially on Rosebud. When I was in SD in 2007, I believe there were 125+ attempts just in the first half of the year. Do we want this for our youth under US control? Why is the US Dept of Justice testifying in support? Are they getting ready to place Kanaka Maoli under their jurisdiction like Indians under the Indian Major Crimes Act? Hawaiian Homes will become like reservations? Sorry Tane I got on a tangent...
Just venting that not all Maoli views are being covered in the mainstream media..so what will it take to be heard?
E `o, e na hoamakamaka mai ka lae o Kumukahi a hiki i ka mole o Lehua.
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Permalink Reply by da princess on
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aloha tane,
how can one begin the batter system of service exchange,
without the main source of todays american money?
and is it possible to open a native national bank that all
awarded monies of our lands goes to our people, water and land???...~da princess~
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Aloha e da Princess:
E kala mai i'au for not responding sooner. The first few months of the year has been quite busy for me and occasionally I checked maoliworld. Sometimes my brain gets piula. LOL....
You've asked a good question. We know that one cannot totally forgo the U.S. dala. In the 60s and the 80's there was a resurgence of bartering which cut down the expenses of using currency. It would be good to bring some of it back again. It's a matter of negotiations with others that have special talents or skills and that you yourself have something they can use with which you can negotiate with. It would start small with a few people but can grow to include others.
It should be something they want or need or could use or service provided in lieu of something you want or need help with. Let your creative juices flow... I know you can come up with something. Discuss it among your firends.
There are those that are looking to create economics build up for our Kingdom and especially native Hawaiians. In the late 19th and early 20th century, a few asian banks were created by asian businessmen. A couple of them exists today which still serve its asian customers. Then there are Federal Credit Unions that primarily serve a specific group. All these are regular businesses which their shareholders get dividends if the banks are profitable. It begins with investors and is funded with investments and other resources like insurance and stock marketing, savings and loans and other revenue building techniques. It is a strict -regulated business which protects investors and customers.
What you speak of are trusts like OHA who gets 20% of the trust lands or supposedly "ceded lands" revenues. The Ali'i trusts are specific in its benefits and controlled by trustees normally appointed by the courts or the State entity designater.
You need someone with good financial business acumen and experience to institute a financial institution. Bumpy has been attempting to create a Hawaiian bank to enhance and strengthen our economic capabilities. Others are working on stabilizing economics that will benefit our Kingdom and its subjects.
It's a matter of being self-sufficient in all aspects of rebuilding our nation. Monies do not go directly to the people but to the Kingdom and its governance. If you have land; than it's your kuleana to make it work for you.
This is more complex than simplification whereby each individual gets a guaranteed allotment of the revenues. Things never worked that way and until the government of the Kingdom is restored to its full authority, one cannot resolve many of the issues. I hope this gives you an inkling of what it entails.
Tane
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Permalink Reply by Muller Lukacs on
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