Lack of financial nous amongst young people

bendix

What is there to know about personal finances that can't be summed up in a few words - don't spend more than you earn. ?

If idiots can't get their heads around that, trying to educate them on anything more complex is a waste of time.

From what I've seen of modern Britain in the few months I've been back, it seems most can't.

lostinrates

PasturesNew wrote: »

You're sounding like the person spoken of in that Benefits Course programme on TV ... when somebody was presented with the concept of getting a job she said "who will walk my dog?"

:rotfl::rotfl:

I suppose I am a bit. I can put the birds in a run, but I don't like puting them away too early. To put them in early to do a course I'm not so interested in, or an a level in a subject I already have an A level in (I wanted to spend some time refreshing french last year) seems a bit silly though. Chickens are less flexible than dog though. I leep with the curtains open so that I can let the chickens out at exactly the right time, my dogs walked yesterday mid afternoon (they usually do morningand evening) and my horses are pretty flexible too, now they are not stabled.

There are ways round things, though, you're right. If there was a good course I'd find those ways round.

Bendix: I'd like a course that taught more about manging investments, choosing the right products (investments, pensions, mortgages, insurances etc).

PasturesNew

lostinrates wrote: »

Bendix: I'd like a course that taught more about manging investments, choosing the right products (investments, pensions, mortgages, insurances etc).

I think I know somebody who did those, but as part of his job, so employer paid for it and he did it at evening classes (London).

There's letters for those courses.... aren't there? I'm thinking "wonder if that's an AAT or a CEMAP ... or similar".

Bufger

i think some of the biggest lessons in financial independance come from parents. At a young age my parents gave me free use of my own money but made it quite clear that the money i had was the only money i could spend until the next lot came in (the next week with pocket money) and i should think carefully about what it is i want to buy and what i need.

As i grew up and got a job the same rules applied although i had to pay board in my household, i still had alot of free money to spend on what i wanted. I chose a laptop so i could use it through college and then i bought a very cheap car.

Now ive bought a house and i manage my own bills. My credit score is 999 because ive been aware of it for a number of years and my decisions on credit are based around the credit score outcome (so i could get a house!). I also dont buy anything i cant save the money for.

I only finished uni last year but its perfectly possible to have a great social life, buy the things you want (with a bit of sense), start investing your money and keep an eye on what you want to do for the future. Its something that cant be taught outright, it has to be embedded either the hard way (debt, bankruptcy) or through the parents when they're letting their child make real world decisions.

Oldernotwiser

PasturesNew wrote: »

There just seems something big missing, courses for "something valid and real that will help me in a job or to get a job", beyond NVQ 1 or 2.

But that won't be A levels, I'm afraid. There are plenty of professional courses around at levels above NVQ 2; ILEX/AAT/NEBC for example.

PasturesNew

Oldernotwiser wrote: »

There are plenty of professional courses around at levels above NVQ 2; ILEX/AAT/NEBC for example.

I've never heard of ilex or nebc. Heard of aat.

Davesnave

There was nothing for me in the local further ed brochure which came through last week. The photography and computer courses were too basic and I'm not interested in the health & beauty stuff.

I wanted to get a certificate of competence for using agrochemicals, but that's pretty expensive, so I shall probably busk it. I have done umpteen COSHH and similar workplace courses, which go over much of the same ground anyway.

A local smallholder's association does a chain saw course at a reasonable price, which I'l probably do. Buying the parrot to do Long John Silver impressions would, no doubt, work out more expensive...:rotfl:

Oldernotwiser

PasturesNew wrote: »

I've never heard of ilex or nebc. Heard of aat.

Sorry for the typo; I meant to say NEBS (Management courses) ILEX _ - Institute of Legal Executives.

PasturesNew

Davesnave wrote: »

I'm not interested in the health & beauty stuff.

No? Not interested in setting up your own bikini wax service?

PasturesNew

Oldernotwiser wrote: »

Sorry for the typo; I meant to say NEBS (Management courses) ILEX _ - Institute of Legal Executives.

I spent about 10 years living in a remote area, where the nearest place was 20 miles away. During that time jobs started/finished all over the place (I was weekly commuting 100-200 miles, or driving up to 50 miles each way each day). I couldn't easily plan study as I never knew what was happening next week ... and evening classes seem to mostly start in September - after that you've missed it.... but each time I did look, there was just nothing.

Many seem to start at 6pm too, which is too early if you're travelling great distances - and with classes at just 2 hours/time it costs quite a lot in travel just to get there/back.

I did sign up to a marketing course back in 2006 - and started it. A 50 mile round trip dashing from work to rush into the class 10 minutes late each time... then my job finished and I couldn't afford the petrol to get there any more.

Being settled in one place, with a regular life, close to good educational facilities, is a completely different ball game to the life I've lead.

Even now, I'd like to look at what's out there, but also planning on moving 60 miles, so until I know if/where I am moving I now can't even look again ... bad timing because if I'd moved this month I could have looked to see if they had any courses in the new area.