why don't we get taught this at school?

blueberrypie

McKneff wrote: »

I agree totally 100% with what princess2010 says.
Kids dont want to learn from their parents about money management.

Mine do. They are aware that we live very comfortably on a not-very-high income, and they are aware of the things I do to make that the case. They respect and admire it, and I see them putting into practice the lessons they've learned from watching me and talking to me. They budget, look for good deals, put money aside for emergencies, etc.

McKneff wrote: »

Insurance, tax, I have lost count of the so called graduates on these boards who dont understand the basics about PAYE or NI
Dont know what their tax code means. Have no idea about deposit schemes or itineries when they are renting accommodation.
Intelligent people who when it comes down to the nitty gritty of life, havent got a bliddy clue.

Agreed. It amazes me that people come on here thinking they can put £1000 into a savings account one day and get a full year's interest on it the next, or when they think they shouldn't have to pay the mortgage they signed up for because their circumstances have changed/interest rates have fallen/they didn't read the small print/someone cold-called them/they don't want the house anymore.

I'm unconvinced that teaching life-skills at school works though. It certainly hasn't worked for other life-skills (like cooking).

princess2010 wrote: »

luckily i had a good friend who was well experienced and sat down with me and really helped me to put some financial planning into my life!

What a pity your parents didn't do that much sooner.

princess2010 wrote: »

i know it seems stupid, but if they can teach you how to not get pregnant, surely they can teach you this too.

Schools teach about contraception, but they don't teach about responsibility and consequences - and those are just as essential factors in avoiding unplanned pregnancy. But when parents abdicate responsibility to schools, and schools blame parents when things go wrong...it's hardly surprising that the young people they're supposed to support do the same things.

whatmichaelsays wrote: »

Don't they call them maths lessons?

Maths teaching in schools is, for the most part, not good, and mainly puts people off and convinces them they can't do it. I do some maths tutoring and repeatedly find that kids who *can* do maths think they *can't*, because of failures in the teaching they've experienced. Again, though, it's not just understanding the maths that's necessary for financial management - it also requires some effort and some discipline.

LilacPixie

How did you get to 23 and leaving uni without having to 'budget' even if it was only working out how may shots+dash you could afford in the local union??

pmduk

seven-day-weekend wrote: »

however, couldn't your parents have told you?

At 15 you're at the age where you feel your parents know nothing! It's amazing how much they learn in the next 10-15 years.

Al1x

McKneff wrote: »

I agree totally 100% with what princess2010 says.
Kids dont want to learn from their parents about money management.

I think they do

My parents are still the first people i go to for advice about money.

I bet the only people who think that the schools should teach money management are those who are useless at it themselves and their parents know nothing about money as well.

(I also think its up to parents to teach about contracetion and know what their under age kids are up to but thats a different subject!)

haras_nosirrah

My dad did an amazing thing for me and my sister and I intend on teaching my children the same way.

When we turned 13 my dad gave us £30 a month pocket money (1996). That was it - no extras. If we wanted more we have to get a job and I got a paper round, worked in a shoe shop on a saturday and a paper shop on a sunday.

I had to save up to buy my school uniform. If I wanted to go to the cinema or buy some clothes I had to save for it. I became an expert at budgeting and saving as I learned the connection between earning and spending money and when you earn £2.17 an hour that £5 cinema ticket sounds expensive. What I didn't know at the time is that we had a trust fund left to us as an inheritance which we would get access to at 18 and my dad wanted us to learn not to waste it.

As a result of this I managed to get through 3 years at uni with only a 3k student loan. I paid all my accommodation and tuition fees myself (which I paid myself through working all through the holidays and working weekends at uni) And I only spent that trust fund when I was 24 as the deposit for my house.

I know it sounds harsh having to pay for my own school uniform but it taught me a valuable life lesson and I am now a saver and not a spender.

Sharon87

We got taught how to budget at school. in PSE (I'm 23) we were given an occupation and had to pick where to live (how much to spend) and other things. Don't remember too much about it to be honest. I think I was either 15 or 16.

Uni until you're 21 in my case, teaches you about bills if you live in a shared house, and parents should teach you too. I learnt how to budget at uni, but I'm still in debt. Teaching doesn't always mean people follow it.

littlemissbossy

My mum taught me how to "be good" with money.

She watched out for coupons, entered competitions, saved up for things and shopped around. Now we do these things together and I've taught her how to find all these things and more on the tinterweb thingy. :money:

Loughton_Monkey

huw01 wrote: »

Only my honest opinion but it's all about growing up and taking responsibility. Those who go straight to the workplace at 16 or 18 manage their money better than those who go to uni as they have to grow up and take responsibility.

I have to agree the thrust of this.

Although it sounds 'old fashioned', basic education in the 'Three R's' has gone by the board a lot, and if you browse some of the posts here, it is not difficult to prove that. The standard of writing, spelling, etc. is appalling. [Sometimes, capital letters, full stops, and paragraphs are clearly not in some people's language!]. There is absolutely no wonder, therefore, why some people are totally inadequate to do the obvious and google 'Pension' [or whatever] to learn the facts of life.

To think that adding to school carricula is the answer is totally to miss the point. If you can read, write, speak, add up, then you can research everything you want to know about financial matters, technical issues, legal things, diet, etc.

When (as the last Nanny State Governmnet did) it comes down to school teachers to write to parents to tell them their child is "obese", it confirms that this country has 'lost the plot'. It seems we expect people not to take any responsibility for their lives, and the more they are 'cossetted' the less they will learn.

AnonymousForObviousReason

Loughton_Monkey wrote: »

I have to agree the thrust of this.

Although it sounds 'old fashioned', basic education in the 'Three R's' has gone by the board a lot, and if you browse some of the posts here, it is not difficult to prove that. The standard of writing, spelling, etc. is appalling. /B]Sometimes, capital letters, full stops, and paragraphs are clearly not in some people[B]'s[/B] language![B. There is absolutely no wonder, therefore, why some people are totally inadequate to do the obvious and google 'Pension' /B]or whatever[B to learn the facts of life.

To think that adding to school carricula is the answer is totally to miss the point. If you can read, write, speak, add up, then you can research everything you want to know about financial matters, technical issues, legal things, diet, etc.

When (as the last Nanny State Governmnet did) it comes down to school teachers to write to parents to tell them their child is "obese", it confirms that this country has 'lost the plot'. It seems we expect people not to take any responsibility for their lives, and the more they are 'cossetted' the less they will learn.

Very funny ... which ones did I miss? :rotfl:

I was taught the basics of this in school when I was 12 and by my parents. But not the tax code thing and my pension knowledge is poor - I know it's good but not sure how much I'll expect to see from it.

princess2010

Al1x wrote: »

I think parents should lead by example. its deffinetly their job to teach their kids about money.

Also its all common sence isn't it.. as long as you earn more then you spend out then you'll keep your head out of water.

When i was young my parents gave me pocket money and if i wanted to buy a magazine or game i had to pay for it myself.. obviously meaning having to learn how to save up to get more expensive things.

I really can't see how you can get to 23 and be totally clueless about money (?)

(my sister was 20 when we bought a house together.. i'm so glad she has more knowledge of money than you)

i wouldn't say i'm totally clueless, just learning new things about it all the time. and then i thought back to my schooling and realised how little i was taught about it then.