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Should money matters be taught in school?

1246

Comments

  • thriftyminx13
    thriftyminx13 Posts: 471 Forumite
    I too suggested this at my school ten years ago, this and car maintenance!
    MFW 148 - Mortgage £121,000 1Jan11 / Mortgage £120,300 28Jan11 / £119,808 24Feb11 / £119,400 22 April11 / £119,089 29 May11 / £118,500 October11
  • obsessed_saver
    obsessed_saver Posts: 511 Forumite
    Part of the Furniture
    Cleaver wrote: »
    Does the story end with Peter and Jane finding the shop shut due to the chain in question going in to administration?

    :rotfl:

    Let's leave that harsh reality to later life. :p

    Actually, the most important lesson is to actually read the fine print, and be able to understand it. :)
  • 97trophy
    97trophy Posts: 915 Forumite
    The OU has a course on personal finance. I took this course 2 years ago and it is excellent.

    http://www3.open.ac.uk/courses/bin/p12.dll?C01DB123

    Some schools have enrolled 6th formers on it, our local comprehensive school has started to use it. I think this kind of tie in between the OU and schools is a great way forward.
  • silvercar
    silvercar Posts: 50,006 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    Maybe 100 hundred lines:

    "I understand my home may be repossessed if I don't keep up with mortgage repayments."
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • silvercar
    silvercar Posts: 50,006 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    Stream 1: income & expenditure. Mortgages, rents & loans.

    Stream 2: How to get the most from the benefit system.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • 97trophy
    97trophy Posts: 915 Forumite
    silvercar wrote: »
    Stream 2: How to get the most from the benefit system.

    That's already compulsory subject in Scotland, and they have a very high pass rate.
  • sarkin
    sarkin Posts: 785 Forumite
    You can teach people all the finance they need, then step back and watch the gold rush.

    You can see the dollar signs in thier eyes, but when the bubble gets going and everyone joins the gravy train either jump on or stand back.

    finance lesson over

    when you have ten years of the goverment telling you how good life is you can drop your guard and before you know it.......
  • robin_banks
    robin_banks Posts: 15,778 Forumite
    Part of the Furniture Combo Breaker
    silvercar wrote: »
    Stream 1: income & expenditure. Mortgages, rents & loans.

    Stream 2: How to get the most from the benefit system.

    There's also a third lesson , how to fiddle your taxes. Though this may only be available at a fee.
    "An arrogant and self-righteous Guardian reading tvv@t".

    !!!!!! is all that about?
  • 456789
    456789 Posts: 2,305 Forumite
    1,000 Posts Combo Breaker
    Ingsy wrote: »
    So, here are the questions:

    1. If you had the power, would you introduce teaching money management in schools?
    2. If yes, at what age and, more importantly, how exactly would you do it?

    1. Yes
    2. Sometime in secondary school around the time some kids start getting jobs

    It should cover what the different types of bank accounts are
    What an overdraft is
    What credits cards are for and how much they cost
    Mortgage information
    Savings information - benefits of ISA etc.
    How the stock market operates
  • Hugh123
    Hugh123 Posts: 3 Newbie
    Yes .. i agree with you. it will enhance the knowledge of the children in the practical and social life . The students will be realistic and practical by knowing the hard facts of money.

    _________________________________
    veterans financial
    Chatswood Real Estate
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