jazmad wrote: »
Most of the posts (including Martin's) are very cynical.
Yes, businesses are out there to make money and not help you out but these classes shouldn't be about raging against the capitalist machine. Much more important is giving children a basic understanding of everyday finance such as:
- different ways to save and the pros/cons (savings account, investment, ISA etc)
- different ways to spend and the pros/cons (cash, credit/debit card, debt)
- tax system
- benefits system
- how to do a budget and the importance of forward planning (in my mind, this is the most important point)
- monitoring your money
Later classes could consider how the shops try to persuade you to spend and ways to shop around, haggle and work the system for your advantage but there's no point covering this if kids don't understand the basics. The main way companies are able to exploit people into making inappropriate choices is due to consumer ignorance. Educate people, and this will become harder.
This would also hopefully help kids understand the importance of being numerate and confident with figures instead of seeing Maths as an abstract irrelevance (a personal pet peeve).
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