Financial Education Campaign guides discussion

Former_MSE_Wendy
Former_MSE_Wendy Posts: 929
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edited 13 December 2011 at 7:02PM in Site feedback
This discussion relates to the
Financial Education Campaign guides
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  • Does anyone know what the deal is for Scotland? Is it worth asking our MPs to join (given that it makes no difference north of the border) or is there a separate petition for MSPs?

    Actually, as far as I know they could do finance in schools here already. Does anyone have any info on this?

    Cheers.
  • Just to let you know - I e-mailed my MP as asked, to get them onboard. I got an e-mail back to say that he was a Minister and therefore unable to join All Party Parlimentary groups :( Well at least I tried eh?
  • mdr86
    mdr86 Posts: 102
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    Is there a list of MPs who are already signed up to this?
  • Former_MSE_Wendy
    Former_MSE_Wendy Posts: 929
    I've been Money Tipped! Newshound! PPI Party Pooper Best Buy Bear
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    edited 20 January 2011 at 3:18PM
    teapotter wrote: »
    Does anyone know what the deal is for Scotland? Is it worth asking our MPs to join (given that it makes no difference north of the border) or is there a separate petition for MSPs?

    Actually, as far as I know they could do finance in schools here already. Does anyone have any info on this?

    Cheers.

    Alex Salmond, Leader of the Scottish National Party said this to us during the election:
    The SNP Scottish Government which is responsible for education in Scotland recently announced a plan to ensure good quality financial education is delivered to every pupil in every school in Scotland through the new Curriculum for Excellence. We are committed to ensuring that no child misses out and every school in Scotland provides the basic knowledge to enable young people to make informed financial decisions.
    Although the curriculum is different, financial education is not compulsory in Scotland so Scottish MPs are free to join the group.
    Just to let you know - I e-mailed my MP as asked, to get them onboard. I got an e-mail back to say that he was a Minister and therefore unable to join All Party Parlimentary groups :( Well at least I tried eh?

    Thanks Chicken1983
    mdr86 wrote: »
    Is there a list of MPs who are already signed up to this?

    So far 57 MPs have joined up mdr86 but several others have shown interest. Let me know who your MP is and I'll tell you if they're on the list.

    *****

    Wendy
    *** Get the Martin's Money Tips Free E-mail at www.moneysavingexpert.com/tips ***
  • timmh
    timmh Posts: 12 Forumite
    Fabian Hamilton MP for Leeds North East has replied to me saying that he will join.
    Dear ,

    Fabian has asked me to thank you for your e-mail.

    I have today contacted Justin Tomlinson MP to ask that Fabian become a member of the All-Party Parliamentary Group for Financial Education for Young People.

    Yours sincerely,


    Laura Harper
    Personal Assistant to
  • mdr86
    mdr86 Posts: 102
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    MSE_Wendy wrote: »
    So far 57 MPs have joined up mdr86 but several others have shown interest. Let me know who your MP is and I'll tell you if they're on the list.

    As a student I'm in 2 constituencies :) so Liam Fox (North Somerset) and Andrew Smith (Oxford East)
  • mdr86 wrote: »
    As a student I'm in 2 constituencies :) so Liam Fox (North Somerset) and Andrew Smith (Oxford East)

    Andrew Smith is already signed up :)

    Re Liam Fox, one of our site users had this email from him but as a minister he's unlikely to join anyway.
    Thank you for contacting me about financial education for young people.

    I believe that it is now more important than ever that we bring up a generation of financially literate young people, who are able to deal with the financial challenges they will face as adults, whether it’s choosing financial products or planning for a secure financial future.

    Financial education is currently part of the personal, social, health and economic education syllabus for key stages 1 to 4 and it is the responsibility of teachers, not Government, to decide how best to teach financial capability. Although I recognise that the delivery of this component has proved difficult for schools to implement. Therefore the Government plans to ensure that teachers will have the skills they need to teach finance effectively, and not just in isolated financial literacy lessons.

    Beyond school, better financial education will enable individuals to have greater personal responsibility for their finances. As a step in the right direction the Government has tasked the Consumer Financial Education Body (CFEB) to deliver a free financial advice service to launch later this year.

    Yours sincerely
    LIAM FOX
    *** Get the Martin's Money Tips Free E-mail at www.moneysavingexpert.com/tips ***
  • This is what I wrote to Mr Hollingbery (MP for West Meon, Hampshire)

    As your constituent, I'm writing to ask that you join the 'All-Party Parliamentary Group for Financial Education for Young People', launching on 31 Jan 2011. On the back of a debt-ridden financial crisis and tuition fee rise, I think ensuring young people understand money, consuming and debt is more important than ever. I'm not alone; 97% of a poll of 8,000 supported compulsory financial education in schools (source: MoneySavingExpert.com) and more than 30,000 people signed FinancialEducationPetition.com. It'd prevent mis-selling and create better informed consumers, maybe meaning fewer future financial crises.

    From a personal point of view, when I left University in 2000, I left with nearly £10000 worth of debt. It wasn't until 2006 that this was paid off. It was a further 2 years before I "woke up and smelt the coffee" and implemented control over my finances (I would regularly be overdrawn and only annual bonuses, when they were around, cleared the debt). This was achieved through keeping a close eye on my bank balances and implementing a series of accounts, for bills, annual expenses (car tax, mot, insurance) and rent and more savings account to put a little bit each side for other major purchases such as holidays, Christmas presents, concerts and the like. These were topped up each month via standing orders, directly after I got paid meaning whatever I had left was my disposable income. This works very well for me, but when I explain it to friends & colleagues (especially those that are younger than me) it seems like a completely foreign concept to them. I can only imagine this is down to a lack of education. The proposals to educate children on money appeals to me greatly and I think it would have long term benefits for society, especially since the government seems intent on creating a debt problem for any young person that wants to better themselves through a college or university education! As they say, "prevention is better than cure".

    The APPG will allow you to represent me & others. You can join by contacting Justin Tomlinson MP's office. Please let me know your intentions.



    And after the usual shenanigans about having to give my full address before he could reply to me, this is what I got back.

    Thank you for the email regarding student debt.

    I understand how important it is for Students and young people to have a firm grasp of money, debt and finance in general and agree that this APPG represents a real chance for Parliamentarians to help improve the situation and reconnect with younger people on this very important subject.

    I'm a member of a number of APPGs and had recently decided that I shouldn't join any more. However, I think this is a great idea and I guess it looks like I've got room for just one more!

    I hope this helps.



    A very promising reply :)
  • I sent an e-mail to my MP, Andrew Griffiths, and had a response this morning.

    Thank you for contacting me about financial education for young people and the new All Party Parliamentary Group on this.
    I certainly agree that it is now more important than ever that we bring up a generation of financially literate young people, who are able to understand the financial challenges they will face as adults when planning their future, buying a house or saving for a pension.
    Financial education is currently part of the personal, social, health and economic education syllabus for key stages 1 to 4 and it is the responsibility of schools, not Government, to decide how best to teach it, although the delivery of this component has proved difficult for some schools to implement. I understand the Government plans to improve training so that teachers will have the skills they need to teach finance effectively, and not just in isolated financial literacy lessons.
    Beyond school, better financial education will enable individuals to take greater personal responsibility for their finances. As a step in the right direction the Government has asked the Consumer Financial Education Body to deliver a free financial advice service which should launch later this year.
    In light of recent economic uncertainty it is imperative that the next generation are more financially aware. I believe the All-Party Parliamentary Group will help achieve this by applying informed pressure on decision makers in Government. Therefore I will be joining the APPG for Financial Education for Young People.
    Thank you again for taking the time to contact me.

    Yours sincerely

    Andrew Griffiths

    I strongly believe that "people pressure" can make a difference and am pleased to see some positive responses.:T
    :rudolf: Always skip and eat your peas :rudolf:
  • I wrote highlighting my own situation with my autistic son needing to be educated about financies in school. This was the letter I was sent back from parliment:

    Dear Mr Cherry, Many thanks for taking the trouble to get in touch.
    I have read your letter with interest. Whilst I agree that it is vital that we educate young people to be financially responsible, due to other parlimentary commitments I shal not be joining the All-Party Parlimentary Group for Financial Education for Young People on 31st January.

    Education however is a subject of great interest to me and i remain committed to education policy in my role as Parlimentry Private Secretary to Nick Gibb, Minister of State at the Department of Education.
    Best wishes,
    Nick Boles MP.
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