'Should Financial Education Be Taught In Schools?' poll discussion

DrLJN

Can someone just tell me - is this England only, or the rest of the UK too?

blackdiamond_2

I voted A !. But it's vitally important that the 'teacher' is qualified and totally independent of any financial institutions.(Traps and minefields come to mind). To leave it to parents is hit and miss, some parents will be good, some wont be interested or have no knowledge worthy of being passed on and some young people wont take preaching from parents. Although, it may help to involve young people in household finances.

keet83

parents should help their kids to understand how their bank savings work or food shopping from a young age, just the basics of what happens. for example you have the option of 2 types of the same food but ones on special offer, ask them how much it would save. however there's a lot of parents that dont really understand it that much either due to it never being taught in schools in the past. i'm all shelf taught on how money and finance works and would have liked to have been taught at a much younger age.

simonne15_2

For years those of us with an enthusiasm for real, relevant maths education have fought for maths activities to involve contexts and issues which reflect everyday life. So instead of pages and pages of boring standard calculations that have carefully selected numbers graded by level, there should be interesting challenging problems with the kind of numbers that are genuinely drawn from real situations. Once learners can see that the numbers are 'coming from somewhere and going somewhere- i.e. solving a problem', we know that they do then get actively involved because it's more motivating. They see the need to use tools to support their thinking, like calculators, spreadsheets on computers etc. and get a sense of maths being useful rather than the boring - and frightening- subject many adults have been conditioned to think it is.
Financial education is alive and well even with 5yr olds in Reception classes in the best schools already:T; it shouldn't be limited to PSHE!

shantispirit

After 20 years experience working in finance on way or another, I'm still shocked to find out how many people have absolutely no idea about how to handle money and credit. I'm amazed how many sign contracts that they haven't read or don't understand. Age seems to make no difference, or indeed how much they earn. Parents are as likely or unlikely as their children to understand how to budget - money education should not be the preserve of school children, it should be available free and independent to everyone - instead of waiting till the overstretched Citizens Advice Bureau has to unwind the problems when they get very serious. I suspect that mental health bills would dramatically reduce as a consequence!

Gemmzie

I agree with this wholeheartedly.

It should be the responsibility of the school, for at least two generations, as finance has progressed so much that many parents and grandparents have learnt bad habits and poor money management.

However, PSHE is usually taught by teachers of other subjects in English schools (in Scotland, I believe it’s called something else and teachers are specialised in that subject). Therefore, will the lesson actually be learnt? My thoughts are no, which is very disappointing. Until PSHE becomes a valued lesson and is taught by a team of dedicated teachers – I just can’t see this helping the majority.

Suzy_M

C. On the basis that even so called 'well-educated' children are leaving school semi-literate and semi-numerate. Schools should concentrate on the basic foundations of education first and foremost.

MOLLYWARD

I think this is long overdue, The schools need to take some action in educating our future to handle money better. A lot of parents are in financial mess through loans credit cards store cards etc..so they really are not the people to learn from. These kids are being brought up in families like this all over the country and they think this is how life is credit, credit, credit instead of save, save, save. I am very good with money dont have a lot and have to juggle money around every week. I buy in sales and use discount codes and coupons all the time. As soon as my children were born (i have 3 ) i opened an account for each of them and put in a little every month and i have shown them how this has built up over the years and they get excited about it. I have just registered on this site and this is the first time i have posted anything on here because i feel so strongly about this. Who needs French and other useless lessons when kids should be learning about real life, getting them ready for every day situations.
And one last thing, maybe there should be adult educational courses for the parents who need help too. I speak to people every day who dont understand everyday finances like mortgages, interest, bank accounts etc...

Cazzy17

Suzy_M wrote: »

C. On the basis that even so called 'well-educated' children are leaving school semi-literate and semi-numerate. Schools should concentrate on the basic foundations of education first and foremost.

Using that reasoning, children should leave school semi-literate, semi-numerate and ready to fall into debt the minute they want something they can't afford. I should add I am in a very nice place financially NOW, I was always very careful with money even when I had very little but since my parents passed away, I have the means to live mortgage free in a nice house in a nice area. I have to say, my parents went too far in trying to live cautiously, they never took a holiday, didn't replace a worn-out kitchen and bought the cheapest food they could find(unhealthy or not) So where does leave me? I have enough money now to live comfortably but am not prepared to live like that just to leave my two children well off when I go. I am going to travel, do all the things I have wanted to do and the kids can have whatever is left. After all, life is for living.

lustydog

Though I voted (a) I do believe that parents should try to help kids make the best of their money. Most of the debt around belongs to adults who are obviousy not qualified to teach anyone about money.It's also partly about the banks being more open about the pitfalls that trap the unwary in the complicated financial age we live in. Even they get into debt, what chance do have we?