MSE News: Prime Minister responds on financial education in schools

This is the discussion thread for the following MSE News Story:

"David Cameron replies to Martin Lewis's open letter on getting compulsory financial education in schools ..."
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  • Butti
    Butti Posts: 5,014
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    I suspect this isn't going to go anywhere because schools need their freedom! What a crap answer about parents. Surely the involvement of parents just reinforces disadvantage - those with poor mathematical skills won't be working with their children to help them understand gas bills and APRs.

    This gov't seem to be all about reinforcing priviledge and disadvantage. Social immobility.
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  • corbyboy
    corbyboy Posts: 1,169
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    If it will help I can summarise the PM's response in one line:

    "Sorry Martin we won't be introducing compulsory financial education in schools."
  • meritaten
    meritaten Posts: 24,158 Forumite
    lmao - Cameron would be saying 'get into banking and get into the top jobs - then you will be rewarded for being totally incompetent' and the way to get into the top jobs? well its not being good at your job - its knowing the right people!
  • daska
    daska Posts: 6,212
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    Actually I think Cameron's response translates as "Why on earth would we do this, my mates make a lot of money out of the financially illiterate..."
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  • meritaten
    meritaten Posts: 24,158 Forumite
    Financial Educution? hmmm - how to make money at other peoples expense and not to break the law?
    or financial savvy? shouldnt Richard Branson or Alan Sugar take that?
  • Lotus-eater
    Lotus-eater Posts: 10,789
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    Surely this comes down to what schools should and shouldn't teach. They are already overloaded with teaching the present curriculum.
    What should they drop to teach financial education?
    Freedom is not worth having if it does not include the freedom to make mistakes.
  • daska
    daska Posts: 6,212
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    Surely this comes down to what schools should and shouldn't teach. They are already overloaded with teaching the present curriculum.
    What should they drop to teach financial education?

    Do they have to drop anything? Isn't this more about joined up thinking? It's the application of addition, subtraction, multiplication etc. to what's in your purse, bank balance, mortgage etc.
    Eat food. Not too much. Mostly plants - Michael Pollan
    48 down, 22 to go
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  • Surely this comes down to what schools should and shouldn't teach. They are already overloaded with teaching the present curriculum.
    What should they drop to teach financial education?


    Personally i believe it could be made statutory and be covered in PSHE AND Maths.

    I work in a Children's Centre and run a group for Young Parents. Granted, the following is not a typical example BUT it certainly isnt unknown! There is a girl, aged 23 who attends the group who has just declared herself bankrupt. She has run up massive credit card, catalogue and phone bills and also had massive utility and rent arrears. Now, i wonder whether in this day and age which would have been more beneficial in mathematics at school - long division with decimals OR learning the tools to give her a foundation for knowing how to manage her money..........
    Baldrick, does it have to be this way? Our valued friendship ending with me cutting you up into strips and telling the prince that you walked over a very sharp cattle grid in an extremely heavy hat?
  • Lotus-eater
    Lotus-eater Posts: 10,789
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    daska wrote: »
    Do they have to drop anything?
    I don't know, I suspect they would. Maybe we can hear from teachers who would have more of an idea.
    How do the rest of the world do it?
    Freedom is not worth having if it does not include the freedom to make mistakes.
  • Lotus-eater
    Lotus-eater Posts: 10,789
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    Personally i believe it could be made statutory and be covered in PSHE AND Maths.

    I work in a Children's Centre and run a group for Young Parents. Granted, the following is not a typical example BUT it certainly isnt unknown! There is a girl, aged 23 who attends the group who has just declared herself bankrupt. She has run up massive credit card, catalogue and phone bills and also had massive utility and rent arrears. Now, i wonder whether in this day and age which would have been more beneficial in mathematics at school - long division with decimals OR learning the tools to give her a foundation for knowing how to manage her money..........
    Lets think, I could do that in one sentence.

    Don't spend more than you have.......

    There you go, do you think it would work? No, I don't think so either.
    Freedom is not worth having if it does not include the freedom to make mistakes.
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