Tricia_Mc wrote: »
I would like children to be taught the concept of value for money in the context of general consumer education
1. The sort of sums proposed by Tracy above (how long you have to work to earn a pair of trainers), but in great detail, to analyse how much work / what proportion of your weekly income would be required to buy a range of goods and services
2. Different methods of purchasing and the associated costs and charges or discounts eg internet vs shop, booking fees, card surcharges, direct debit, monthly payments
3. Comparisons between different levels of goods and services eg bus and taxi, takeaways, ready meals and meals from scratch, comparisons between style, quality and durability of different types of clothing ranges (designer, quality, cheap) and food (eg free range chicken vs cheap non-EU factory farmed chicken).
4. I would also talk about wages and conditions for the people who are working to produce the food, clothes, (eg designer and budget clothes may both be make by very low wage workers, but the producers of designer clothes are making a massive profit)
In short, I would like them equipped to make informed decisions about how they spend their money, taking all factors into account.
My son (now age 20) and his friends take the view that if you want something (takeaway, taxi home, designer top) and you have the money, you buy it, and if that means that you have no more money for the next week, that's fine. They would pay a £5 charge to cash a £30 cheque so they could spend it straightaway rather than waiting for it to clear through his bank account. This attitude applies even when they are working hard to earn their money at minimum wage levels.
hoorah wrote: »
I think it would be good to incorporate pensions into careers advice.
The difference between the types of pensions available and to consider this when looking for employment as it is actually a significant part of your earnings over your working life which is blended into the back ground and not really considered by many till they settle down and have a family/future to worry about.
Also discuss different careers with different pension periods i.e. police can (or certainly could) retire after 30 years service with full pension, which could be around age 50 whereas other schemes require 40 or more years and will not pay out till age 65.
If I had known about these things at a younger age then the police would have seemed like a good career based on the retirement age, although I probably would not have understood this concept at a younger age!?
Alison59 wrote: »
We've always made our children live within their and our means. Unfortunately, now my youngest is at uni she has a mountain of debt!!
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