why don't we get taught this at school?

olly300

princess2010 wrote: »

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.

Or more likely you weren't paying attention.

A good teacher knows they have to tell a pupil more than once and in more than one lesson to get a point in a pupil's head. Unfortunately not all teachers are good.

I remember playing shop at infant school and progressing on to budgeting for meals etc when I was in early secondary school.

Now to you, you would say you weren't being taught how to budget but they are all age appropriate ways of a school teaching a kid how to budget.

Added to that I had parents, older friends and family teaching me other things including how to pay bills - well my friends' and I often were given the cheques and rarely the money to go and pay them as it was before the internet. Also having a parent moan about the phone bill meant we discussed things like what amount is a "normal" family phone bill.

Now you and other young adults are lucky as you have the internet and this board as a resource to ask questions. Though you should actually ask the people around you.

glider3560

McKneff wrote: »

Kids dont want to learn from their parents about money management.

It doesn't have to be made obvious that you are trying to teach kids about money management.

I remember when I was about 10, my mum would hand me the electricity bill and ask me to "check the meter reading is correct whilst I cook the dinner". I didn't realise at the time, but this taught me several things: how to read the meter, how to understand a bill and got me into the habit of reading the meter everytime a bill came. Lets face it, even a 10 year old can find the meter reading section on a bill and compare it to what it says on the meter.

Since I was born, my parents always saved little bits and pieces in a passbook based account for me. Around 8-9 years old, I'd go with them to pay in pocket money or gifts from relatives.

When I was about 12, I got an account with a cash card. My parents always gave me pocket money as a cheque (then later a standing order) so it always had to go through the bank account. This taught me all about running a bank account and making sure I remained in credit.

All these things are little bits that you don't really think of as being "education" but are actually really valuable life lessons.

Malory

I grew up in the US, and when I was growing up small children opened up savings accounts through school. It was a very long time ago, but I vaguely remember the teacher handing out bank books. I must have been about six years old when I got my account and I kept it for many years.

When I was a child, my father took me to the bank with him and whenever he balanced his checkbook he had me do the subtraction.

When we went to shops, he would give me the money to pay the cashiers and have me count the change.

BigAndy_79

Interesting thread, folks...

looktothefuture

I was taught this at school, however it still didn't stop me from falling into debt when I lost my job a few years ago!

My parents also had a great deal to do with teaching me how to budget correctly and do simple things such as open a bank account and stand on my own two feet with my bills... this too didn't stop me from falling into debt!

My stepson gets £20 a month to spend on what ever he wants... he was desperate for a pair of Kickers shoes for school (they were £60.00), so after working out how to pay back a "loan" if he he borrowed an additional £40 off his father, he has also added on interest of 2% a month over 4 months! He has since paid back every penny by working for it - he's washed cars for people in our road, he's helped neighbours carry their shopping, he's washed windows, and he's even offered to do odd jobs for some of his friends parents! He's 9 years old! Now that is an example of a little boy who'll go far in this world! Do you know why? He's watched me check my bank account each Friday, check each bill has been paid and he's watched me scrimp and cut back so that I can afford to have his haircut, or get him a few new pairs of socks!

ViolaLass

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 think that's an outrageous, insulting and unhelpful generalisation. I came out of uni with no debt other than the student loan and had saved enough to fund my Masters.