"Challenging MPs to fight for financial education (video) and speed-politicking" blog

edited 1 February 2011 at 2:02PM in Martin's Blogs & Appearances & MoneySavingExpert in the News
16 replies 2.9K views
This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.



Please click 'post reply' to discuss below.
«1

Replies

  • Dear Martin THANK YOU

    I cried when I watched your speech, if things had been so different then many people I know wouldn't be in the mess they are in now.

    I did an accountancy GCSE 10 years to the day after I left school, which helped me to start understanding finance, banks, loans and everything else a lot better, but even I didn't understand it all, even when I was part qualified at AAT, I still didn't understand pensions, PEP's (as it was then) or the best way to cut insurance costs etc, now thanks to your site and years battling the benefits system due to ill health I understand most of it and have taught my daughter all I know, she is now a student who understands banks, student loans and so much more and has seen just how little most others know at 21 years of age!!!

    My son will be taught all as over the next year or so, but yes if they had learnt at school it would have been so much better. Good luck with the way forward you have mine and many other parents support at this, oh and my mum is the next for me to teach now I'm so much better and she is retired with the time to learn!!!

    Imagine only learning about money matter age 62+ better late than never!
  • ErrataErrata Forumite
    38.2K Posts
    10,000 Posts Combo Breaker
    ✭✭✭✭✭
    Well done. One of the most important things you can do now is stay in touch with the grass roots. Not easy, but vital. Get your jeans on and talk face to face with pupils in Hull, Sunderland etc.
    .................:)....I'm smiling because I have no idea what's going on ...:)
  • Errata wrote: »
    Well done. One of the most important things you can do now is stay in touch with the grass roots. Not easy, but vital. Get your jeans on and talk face to face with pupils in Hull, Sunderland etc.

    Well that's what he does here and on facebook... but yes, is good to meet face to face too. Bet he does that somehow. It's very difficult not to sound ingratiating speaking about Martin. It's a pity because to sound so is to demean the man. He's an angel lol :)
  • lesbrolesbro Forumite
    54 Posts
    Hi Martin, I hope your involvment helps. I sent an email to my MP, Dr Philip Lee, using your template to start it and mentioning the fact that students cannot use a student rail pass before 9.am. He replied stating he was too busy to attend but in the local paper he stated that he was not in favour of students getting the £30 at present. He said he thought only a small percent of students carried on their education because of receiving the £30, therefore it was not an incentive.
    I would like to hope some good comes from these discussions but I won't hold my breath.
  • viv0147viv0147 Forumite
    1.7K Posts
    Part of the Furniture 1,000 Posts Photogenic I've been Money Tipped!
    ✭✭✭
    Excellent speech and you make so much sense! Thats why I have used your site for quite a few years and it has saved me so much. Prior to that I threw money away in so many directions it sickens me now. If I had financial education while in school it would have made a huge difference to me and my family, so good luck on your campaign because if successful it will save so many people heartache. Thank you Martin.
    Low Carb High Fat is the way forward I lost 80 lbs

    Since first using Martins I have saved thousands
  • Very interesting:

    I worked in retail banking for over 11 years and have been involved 'around the edges' for a further 10. I spent many of those years running a collections operation for one of the big banks so am in a better position than most to understand the impact debt has on many peoples lives. I still give advice locally to people who are struggling with their mortgages.

    Last year a former colleague and I put together a 'Financial education' presentation that we believed would go someway towards educating youngsters in the right way of managing their finances. It was far from the finished article however it would not take much effort to polish up. I also have access to a network of advisors nationally who could deliver this to every school and college around the country. Our thinking was that we could cover every school once or twice a year simialr the the sex education classes.

    So armed with all this I started to call education authorities, universities etc. Without fail they all agreed what a great idea it was. Without fail they also advised that they had no budget for this type of thing. So I then tried to get some traction at a national level - again no one wanted to take any form of responsibility and I just ended up getting pushed from pillar to post.

    All the content and advisors are still in place - just needs someone to start the funding from an LEA or nationally.
  • I educate my son in the way of money... but watch as other parents do not!

    I am so pleased that someone has gotten the ball rolling on such an important subject.

    My son is 8 and he is starting to understand what acrruing money and APR's are!

    He get's 12% on his savings and has to work out his interest himself once a month.

    I charge 100% interest on loans... he doesn't like that!

    All his money he earns and he spends carefully!

    I know adults who don't look after their money so well!

    Thank You Martin.
    We spend money we don't have, on things that we don't need, to impress people we don't like. I don't and I'm happy!
    :dance: Mortgage Free Wannabe :dance:
    Overpayments Made: £5400 - Interest Saved: £11,550 - Months Saved: 24
  • MSE_MartinMSE_Martin MoneySaving Expert
    8.3K Posts
    ✭✭✭✭
    I educate my son in the way of money... but watch as other parents do not!

    I am so pleased that someone has gotten the ball rolling on such an important subject.

    My son is 8 and he is starting to understand what acrruing money and APR's are!

    He get's 12% on his savings and has to work out his interest himself once a month.

    I charge 100% interest on loans... he doesn't like that!

    All his money he earns and he spends carefully!

    I know adults who don't look after their money so well!

    Thank You Martin.

    Love it! May well blog on it.
    Martin Lewis, Money Saving Expert.
    Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
    Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.
    Debt-Free Wannabee Official Nerd Club: (Honorary) Members number 000
  • ErrataErrata Forumite
    38.2K Posts
    10,000 Posts Combo Breaker
    ✭✭✭✭✭
    MSE_Martin wrote: »
    Love it! May well blog on it.
    You're going to have to do some fancy footwork in order to not appear to approve an interest rate of 100% ;)
    .................:)....I'm smiling because I have no idea what's going on ...:)
  • edited 2 February 2011 at 8:56PM
    JulieGeorgianaJulieGeorgiana Forumite
    2.5K Posts
    Debt-free and Proud!
    edited 2 February 2011 at 8:56PM
    Errata wrote: »
    You're going to have to do some fancy footwork in order to not appear to approve an interest rate of 100% ;)

    Lucky for him he's never borrowed from the Bank of Mum and Dad!

    I had to think of a limit which would make him think twice about borrowing!

    If he doesn't have the money he doesn't get it... he refuses to pay me interest!!! :(
    MSE_Martin wrote: »
    Love it! May well blog on it.

    Thank you! I am really pleased that you like it.

    I do so much more... he gets £2 a week pocket money a week for keeping his room tidy (he loses 20p for each part of his room he doesn't tidy) and earns extra money for extra chores.

    If he wants expensive trainers (£30) and I want to buy cheaper ones (£10) he has to pay for difference. This applies to anything we buy. And the truth is... not once has he ever bought a more expensive item... he doesn't understand why he should spend the money on it when he can get the same for free.

    He pays 50% for all school trips (max £5).

    And as I said he can accrue his money... he knows if he has £10 in his bank but needs £5 for a school trip, when asked how much money he has left to spend he will tell you £5!

    Oh and he also cooks, I give him a budget, he chooses a menu, looks at the stock levels in the house, buys the 'extras' he needs within his budget!

    He always comes under budget :D

    People may think this is a lot for a boy of 8, but he's happy! He told me in November that if I didn't have a lot of money, that he would be happy with just a HM scarf for Christmas as it meant more then money!

    Obviously I will make the distinction between good and bad debt once he get's older... but for now I am trying to discourage impulse buying, and encourage thrifty money saving ways.

    As I said, I think what you are doing is wonderful... it is so important that our Children have a better future which is debt free, and to ensure they are knowledgeable about the ways of money.
    We spend money we don't have, on things that we don't need, to impress people we don't like. I don't and I'm happy!
    :dance: Mortgage Free Wannabe :dance:
    Overpayments Made: £5400 - Interest Saved: £11,550 - Months Saved: 24
This discussion has been closed.
Latest News and Guides