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Financial Education Campaign guides discussion
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# 1
MSE Wendy
Old 18-01-2011, 5:45 PM
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Default Financial Education Campaign guides discussion

This discussion relates to the


Financial Education Campaign guides

To discuss or ask a question about the article: click reply
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Last edited by Former MSE Alana; 13-12-2011 at 7:02 PM.
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# 2
teapotter
Old 19-01-2011, 2:11 PM
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Default Situation in Scotland

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.
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# 3
Chicken1983
Old 19-01-2011, 4:33 PM
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Default E-mailed my MP

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?
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# 4
mdr86
Old 20-01-2011, 11:56 AM
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Is there a list of MPs who are already signed up to this?
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# 5
MSE Wendy
Old 20-01-2011, 2:55 PM
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Quote:
Originally Posted by teapotter View Post
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.

Quote:
Originally Posted by Chicken1983 View Post
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

Quote:
Originally Posted by mdr86 View Post
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.

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Last edited by MSE Wendy; 20-01-2011 at 3:18 PM.
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# 6
timmh
Old 20-01-2011, 2:55 PM
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Fabian Hamilton MP for Leeds North East has replied to me saying that he will join.

Quote:
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
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# 7
mdr86
Old 20-01-2011, 4:38 PM
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Quote:
Originally Posted by MSE Wendy View Post
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)
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# 8
MSE Wendy
Old 20-01-2011, 6:03 PM
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Quote:
Originally Posted by mdr86 View Post
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
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# 9
bigospedros
Old 21-01-2011, 11:28 AM
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Default George Hollingbery MP in on board!

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
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# 10
topgranny
Old 21-01-2011, 1:38 PM
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Default Response from Andrew Griffiths MP

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.
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# 11
flaxvert1
Old 22-01-2011, 12:54 PM
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Default Reply from Nick Boles M.P.

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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# 12
petercurtis
Old 22-01-2011, 1:03 PM
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Default Mark Hoban MP responds

Mark Hoban MP (Fareham, Hampshire) replied to my email by first class post. There's importance for you. As a member of the government - Financial Secretary to the Treasury - he is unable to join the 'All-Party Parliamentary Group for Financial Education for Young People'. The rest of his letter is word for word the same as the reply from Liam Fox MP quoted earlier in the post by MSE Wendy (20-01-2011).

A salient point made by MPs Fox and Hoban is that Financial education is currently part of the personal, social, health and economic education (PSHE) syllabus for key stages 1 to 4. The recently published schools White Paper ' The Importance of Teaching' announced the Governmentís intention to conduct a separate internal review to determine how schools can be supported to improve the quality of PSHE teaching, including giving teachers the flexibility to use their judgement about how best to deliver PSHE.

MSE and supporters need to note that most of the PSHE debate is currently concentrated on sex and relationship education. A useful strategy might be to emphasise the Peacocks tail component of economic competence and viability. Financial security and wealth indicate potential for satisfying sex and rewarding relationships for all participants.
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# 13
lynneinjapan
Old 22-01-2011, 9:27 PM
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I emailed my MP, Roger Godsiff (Labour, Hall Green ward, B'ham), and received the following reply from his researcher:
Quote:
Roger has asked me to drop you a line regarding the establishment of an All Party Parliamentary Group for Financial Education for Young People and to thank you for bringing this matter to his attention.

He is more than happy to support the aims and objectives of the new group and has e-mailed the organiser accordingly.
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# 14
Ken68
Old 24-01-2011, 12:15 PM
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It seems that financial awareness is already part of the curriculum. Odd that some of the politically orientated staff haven't picked up on the tricks of the trade.
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# 15
andypanny
Old 24-01-2011, 5:19 PM
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Default Reply from MP

Hi
Emailed my local MP and got the following reply today.

Dear Andy,

I have contacted Justin Tomlinson with a view to joining this group. I agree with you completely. Thanks for letting me know about it.

Yours sincerely,


David Morris MP
Morecambe and Lunesdale
House of Commons
London
SW1A 0AA

So thats another MP on board.
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# 16
Elfstar
Old 24-01-2011, 5:35 PM
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I emailed my mp yesterday afternoon and within a couple of hours had this reply

"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 itís 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.

In light of recent economic uncertainty it is imperative that the next generation are more financially aware. I believe the All-Party Parliamentary Group (APPG) will help achieve this by applying informed pressure on decision makers in Government. Therefore I have already joined the APPG for Financial Education for Young People.

Thanks, once again, for taking the time to e-mail me.

With best wishes,

Chris

Chris Kelly MP
Member of Parliament for Dudley South (Conservative)
+ House of Commons, London SW1A 0AA"
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# 17
Torspo10
Old 24-01-2011, 6:16 PM
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Default Response from Louise Bagshawe

Dear Darren,
Thank you for contacting Louise about financial education for young people. Louise has read your email with concern and asked me to respond on her behalf.
Louise believes 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 itís 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.
In light of recent economic uncertainty it is imperative that the next generation is more financially aware. Louise believes the All-Party Parliamentary Group (APPG) will help achieve this by applying informed pressure on decision makers in Government. Therefore, Louise will be joining the APPG for Financial Education for Young People.
I do hope that this information is useful to you. Thank you again for taking the time to contact Louise about this issue.With Best Regards,
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# 18
Hitchinson_rachael
Old 24-01-2011, 7:36 PM
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Default National Assembly for Wales

Would it not be worth lobbying Assembly Members in the National Assembly for Wales since they're up for re-election in May and control education within Wales?
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# 19
trying_2_b_good
Old 26-01-2011, 10:34 AM
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I sent an email to our MP John Leech (Manchester, Withington) a full week ago, but disappointingly no response yet.

Here's what I said...

Dear Mr Leech,
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. I think that this is a very important topic, especially in our area, where there are many students and young people. I also think that it would help all those who are worried about no longer being entitled to EMA & help our economy in the future. I strongly believe that young people need to learn about money before they leave home, or turn 18 and are suddenly able to apply for credit cards.
...and then the bits that MSE recommended to say.

I'm really disappointed in the lack of response
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# 20
flimsier
Old 26-01-2011, 11:50 AM
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Before I start, I should say I think this is a good idea in principle. And well motivated.

But, I think you've got to be quite careful. Schools (mine included) are already struggling with the curriculum based on a few announcements from cabinet members. Do we force students to take a language? Double Science? What about the 'triple Sciences'? And what counts as a humanities based subject? What about Citizenship (where we do cover money management in my school)? And then there are subjects people could argue have more worth - Philosophy, Learn to Learn (developing independent enquiry) and the whole RSA opening Minds Approach.

So I think whoever is running this campaign (Martin?) should get into schools, see what they are doing, and be much more specific about what they are suggesting that all students do. I'm not saying debt education is good enough; I'm saying that there are millions of students and your campaign could tar all schools with, for example having to deliver x hours of functional skills in money management per week (and being able to prove they do). What is the best way of doing this? How do they prove it? What should the actual content be? Who should teach it?

I happen to know that Cabinet announcements are causing civil servants (those that then have to get schools to comply) undue stress with insufficient planning, insufficient ideas of timescale, and so on. This campaign may cause another such announcement and equal such headaches, and I think it needs to be better considered.

Why not pilot it in a willing school first? Or get a Local Authority involved? What about a TV company in the kind of way that Gareth Malone has with music and stuff to do with boys' education?

This is my instant reaction, as a Deputy Headteacher who is frustrated by too many government edicts in the 13 years I have been teaching.
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