MSE News: Ed Balls: Financial education should be compulsory

dazza.mk

TBH what Martin is trying to achieve is admirable, but I can't see how it will be achieved easily. As kid's can be a lesson in budgeting in PSHE, but how will it sink in unless they truly have to, and whilst current society means the kid's have all the latest gadgets thrown at them:
http://www.parentdish.co.uk/christmas/by-pandering-to-kids-expensive-christmas-lists-are-we-ruining-joy-of-christmas/

There isn't really any 'practice' to become good at budgeting (let alone become a savvy consumer.

mjm3346

Looks like there are a just a couple of dozen MPs in the house for this debate and nearly all of them are on the Govt side of the house, so much for it being important for any of them.

The_One_Who

dazza.mk wrote: »

TBH what Martin is trying to achieve is admirable, but I can't see how it will be achieved easily. As kid's can be a lesson in budgeting in PSHE, but how will it sink in unless they truly have to, and whilst current society means the kid's have all the latest gadgets thrown at them:
http://www.parentdish.co.uk/christmas/by-pandering-to-kids-expensive-christmas-lists-are-we-ruining-joy-of-christmas/

There isn't really any 'practice' to become good at budgeting (let alone become a savvy consumer.

That's what I've been saying. I truly believe that people only care about this sort of thing when they really have to. A teenager (who does not have to pay rent/mortgage, bills, food, or anything) has little or no concept of what it's like to be living and working on a budget. Few young adults have an accurate idea of how much things really cost until they move out and have to pay for everything themselves.

Optimist

Equaliser123 wrote: »

So why didn't Labour do something about it when they were in Government?

Their seems to be a unwritten law amongst politicians. What they say in opposition tends to be in direct contradiction to what they actually do when in power.

jamesroyalmint

I would like to think this could be done well...and maybe the Royal Mint could have a role to play. It would be a great opportunity for us to improve understanding about what we do, and we could give something back too!

Hello from the Royal Mint by the way! First post :-D

alggomas

I really think that they should throw money at employing more class assistants [ex bankers, must be two a penny nowadays], and teachers to teach children how to read,write and understand arithmatic so that they can at least communicate.
Basics first Mr Balls !!!

Equaliser123

jamesroyalmint wrote: »

I would like to think this could be done well...and maybe the Royal Mint could have a role to play. It would be a great opportunity for us to improve understanding about what we do, and we could give something back too!

Hello from the Royal Mint by the way! First post :-D

Not sure I quite understand what the Royal Mint has to do with it?

alggomas

Good idea as an additional resource for the three "r's" .

WhiteHorse

If every young person left school with a reasonable grasp of economics, then the Labour Party would be consigned to the dustbin of history in fairly short order.

This leads me to suspect that Ed Balls didn't really mean it.

oldvicar

It would be more convincing if someone with a better grasp of finance than Balls had written an article.