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Financial fairy tales

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Daniel Britton the Financial Fairytales
Ever heard the one about the good banker? The idea is not a fairy tale – because Daniel Britton, this particular banker, is the author of a series of financial fairy tales with the aim of giving children a better understanding about the world of finance. The latest in the series, “The Last Gold Coin”, is his way of putting the recession into language a child can understand. The story, he explains, is simple. “The kingdom is happy, until all the people suddenly realise they have reached their last gold coin. Just like the real economic downturn, in our fairytale world the realisation hits home over night, and the first thing the people do is to blame those in charge – in our fairy tale world that is the king, in our world it's the Government and the banks.” What he’s doing is put his life’s experience into a new venture. He spent several years working for Nat West as a financial adviser. But there was something about the “greed is good” mentality which left him cold. He decided to do something “more useful” with his life, and retrained as a teacher. Now, some fourteen years later, the Glasgow-based author has left education for another new career. As a children’s writer, he’s now in the running to be crowned one of Scotland’s top innovators. As well as the books, Daniel has created an online virtual world to help children aged 5-11 years to learn about money. It means that he’s on the shortlist for a John Logie Baird Award. He started the project because he realised that too many children in Scotland were leaving education without the basic skills to manage their personal finances. Recent research however has indicated that 93% of teachers and parents think that personal finance education should be taught in schools, with 51% of teenagers say would like to learn how to control their spending. Daniel’s books start off the process. He explains: “many of our habits and beliefs around money are formed in childhood. Unfortunately the next generation is growing up in a worrying economic climate, with over 90% of teenagers claiming they worry about money on a daily basis. It’s more important now than ever before to educate children about how to make money decisions.” There are now three books in the series. The first is called “Dreams Can Come True” and tells of a poor woodcutter who has aspirations for wealth. The second, “The Magic Magpie”, is about a mystical bird that can find pieces of gold. “The Financial Fairytales are centred around a series of stories and characters with financial and enterprise themes,” said Daniel. “This allows children to learn important messages while interacting with their favourite characters and stories via books, audio and in a virtual world.” But he insists that there is nothing new about what he’s doing. He makes the point that the best fairy stories have an underlying moral message. In “Jack and the Beanstalk”, the hero gets into trouble because he thinks he is going to be able to make a fast buck by selling the family cow and buying the quick-growing beans. That's when it all starts going wrong for him. "In The Last Gold Coin the people of the kingdom eventually realise that they have to take responsibility for their own actions. The handsome prince discovers that charity can be rewarding – when the poor old lady he helps turns into a beautiful princess.” He adds that the books can be read in two ways. Parents can use them like normal fairytales. But they can also be used as a springboard to start encouraging your children to think about adult issues like finance and personal responsibility. As Daniel points out, children are never too young to start understanding the world of finance. The John Logie Baird Awards are organised by The GO Group. Its chief executive, Isabell Majewsky, said that “As a business support organisation, we are faced on a daily basis with people who have great ideas but lack the business and financial know-how to make them a reality. The Financial Fairytales aim to educate people about personal finances very early on, which can only be a positive thing. “Daniel and hundreds of others entered the awards this year. The calibre of entries has been phenomenal, illustrating Scotland’s ability to create new ideas. The role of the awards is to help make these ideas a reality and transform them into globally commercial successes.” The Financial Fairytales has already been recognised internationally. Last year the idea won two literature awards in the US and has been sold in ten countries so far, including America, South Africa and The Netherlands.

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