MSE News: Prime Minister responds on financial education in schools

silvergirl

Translated 'Send them the usual reply, thanks for your interest, we can't be bothered but will look as if we are thinking about possibly discussing doing something, sometime in the future.' I used to work in PR, you have these to send every day.

daska

Red_sky wrote: »

Oh my God! You sound like a typical teacher. I got taught so much crap when when I was at school, most of which was completely useless to me either then or later in life. A complete waste of my time and my life. It just goes to prove, you don't even know what financial education is. I think a few people on here could tell you. Teach the kids something which is useful to them and not all the useless crap you teach. For instance i got taught politics in the 19th century. Oh yes, that was really useful to me. What a complete waste of my time.

I would argue that an understanding of politics is really rather useful. Especially when it comes to decoding letters like the one this thread refers to from Mr Cameron.

Elsterap

A much better option would be a free phone number provided by the government that offers independent financial advice.

Teaching the difference between a stock and a bond is nothing compared to a decent maths skills to the average person. I would,prefer the extra few hours of maths education tbh.

Im just saying you dont need to teach everyone to be experts in finance, just as much as you don't need to teach everyone to be a mechanic.

daska

Elsterap wrote: »

A much better option would be a free phone number provided by the government that offers independent financial advice.

Teaching the difference between a stock and a bond is nothing compared to a decent maths skills to the average person. I would,prefer the extra few hours of maths education tbh.

Im just saying you dont need to teach everyone to be experts in finance, just as much as you don't need to teach everyone to be a mechanic.

IMO It's probably not necessary to understand the difference at that level, I would think that by the time a person is investing stocks and bonds they've probably got the basics down pat and will make sure they educate themselves to make an informed choice? Stick with the bog standard products and their features that occur so frequently on here. An understanding of compound interest (math), household budgeting (domestic science, arguably more useful than decorating a shop bought pizza base) and joint and several liability (PSHE) would be a good start that would prevent a number of people getting into trouble.

JimmyTheWig

Elsterap wrote: »

Im just saying you dont need to teach everyone to be experts in finance, just as much as you don't need to teach everyone to be a mechanic.

No, you don't need to teach everyone to be a mechanic.
But I do think that children should learn some basic useful mechanical skills at school like changing a car tyre.
Equally, I don't think we need to teach everyone to the level of a Money Saving Expert, but I do think they need the basics - e.g. knowing that "buy one get one free" isn't necessarily a good offer unless you've checked if the unit price is good.

Pincher

When the banks get back on their feet, we should demand that they send bank staff on community service education duty. Similar to police officer school tours.

They can combine it into a recruitment drive. They teach you how to calculate interest, fees and charges.

If you pass the test at the end with an A, you get invited for a job interview.

If you fail the test, you get a leaflet to open a bank account.
Obviously a profitable future customer.

Lotus-eater

There are lots of teachers on MSE, why are none of them commenting on this?

Simple_Simon_42

Hello all. Schools may not have anything set up to teach financial management, but there is a nationwide course called the CAP Money Course which, I'm certain, can send educators into schools, probably at no cost, to present what's needed. CAP stands for Christians Against Poverty, but there's no 'religious' content - it's just run by Christians for the community's benefit. Give it a Google?

Red_sky

oldvicar wrote: »

This does not strike me as the correct manner of expression to be used by anyone who expects to be taken seriously by the Prime Minister.

It may go down well with editors who commission articles for The Sun.

He's not expecting the PM to read it is he. And to be fair he's made his point quite well in a few words which is more than can be said for the PM's letter.

Red_sky

oldvicar wrote: »

You were really lucky to be taught this. How sad that you didn't learn anything.

I didn't understand your comments but nevermind. To be quite honest you sound rather pompous.