Money management in schools...

neas

its not a dig at bankrupts... it annoys me that by human nature we seek to blame everyone but ourselves..

When yes.... a money management course would help... but it wouldn't stop people taking on too much credit if its available... or getting themselves soo far in debt they have to go bankrupt.... why??? blame it on immaturity, blame it on a must have attitude... but people by their nature will 'forget about it till tomorrow'.... if they can.

I guess you guys are right im giving too much credit to our population as a wholes ability to understand simple concepts as money, debtors and creditors...


Its not about bankrupts or people in alot of debt or not its about everyones attitude to life, consumerism and all that. We are brought up to 'must have' the big tv, 'must have' the best washing machine, the best tumble dryer, the new car instead of the old banger... you know?

neas

And if we want to make it about bankrups, maybe instead of letting the 5 year window go by.. just permanetly bar bankrupts from credit in the future (baring mortgages etc).. that way they can't get in the similar situation. Harsh but it would help 'manage their money'

alastairq

neas wrote: »

And if we want to make it about bankrups, maybe instead of letting the 5 year window go by.. just permanetly bar bankrupts from credit in the future (baring mortgages etc).. that way they can't get in the similar situation. Harsh but it would help 'manage their money'

does that punishment-for-life also include all those, responsible or otherwise, who lead commercial companies into liquidation?

Or, government ministers whose departmetns are in fact, Insolvent? {MoD, for one?}

I think you are being far too re-actionary with your opinons....and wonder whether you'd hold them so strongly if , next year, you found your circumstances to be changed so much, you couldn't pay your council tax?

You also seem willing to ignore the fact that hindsight is a wonderful thing.

Regarding how the modern generation views money-management, I believe much has to do with the incredible, yet 'normal' expenditure a young person finds themselves facing?

People these days can never ever view major outlay as a one-off, once a year thing..[car insurance, for example?]

From my observations, being in far too much contact with young wage earners, is that teh younger generation view money management as, ''can I afford all the payments''...rather than, 'I cannot afford this in one hit'.

Imagine if we all adopted the attitude of 'I'll wait until I've saved?'

The entire country would economically be on its knees, and not just for a short period...but forever.

and so would every other country in the world.

Commerce and consumerism would cease...and it is consumerism which is a lot to blame for the credit situation this country is in.

Actually, to survive, and maintain the standard of living we all enjoy, regardless of views or status, credit needs to survive and grow.

Ask any business,small or large?

neas

i still think credit is a form of enslavement..

Seriously how many of you felt down and bad bcause of owing money? It affects and controls people.

in_a_mess_4

Evening everyone,

I don't usually comment on many posts but i couldnt read and leave on this one as its something i feel strongly about.

I believe a management class should be compulsery in schools today, but definitely shouldn't be taught by the banks!!! I think the banks will have there chance to nurture the youngsters for when they are old enough to take credit out.

Kids should be taught about the value of money, how to budget, what credit is, how it works and the total mess it can get you in! Kids get taught how to speak french, spanish, learn about shakespeare, algebra, science......BUT HOW ABOUT LEARNING HOW TO LIVE DAY TO DAY LIFE IN THE REAL WORLD????? Don't get me wrong I'm not disregarding subjects which are currently taught but I don't think kids are prepared for life after school.

I do speak from experience as I am 23, so only about 7years since i left school and lived on my own since been 19. I am currently in about 30k of debt, have nothing to show for it, have CCJ's, defaults, debt collectors all over the place and all because i knew nothing about the value of money! I'm not blaming my education but i think my perception of credit could have been different. All i thought is "well i can afford the monthly repayment, so i'll take out the loan, credit card, hire purchase". Now I am looking at going bankrupt in the next few month, at the age of 23 where i should be going out and enjoying myself.

I feel really strongly about educating kids about money and i think they should do workshops where bankrupts and people who have been through difficult times with money hould go into schools and talked to kids about there experiences, i would be more than happy to do it!!!!!!!