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MSE News: Report calls for financial education in colleges

edited 30 November -1 at 1:00AM in Student Money Saving
2 replies 1.2K views
Former_MSE_HelenFormer_MSE_Helen
2.4K posts
edited 30 November -1 at 1:00AM in Student Money Saving
"Further education and sixth form colleges should be teaching students money basics, a report says ..."

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  • My daughter had a visit from Barclays Bank in year 7 at school to discuss finance and budgeting with them. The example they were given to work through was to put on a party and they were given the costs of various things like food and drink etc. They were told that when they had added up the cost of all the things they were going to have at the party that was the budget. I explained to her that that was the cost and the budget was how much you actually had to spend on the party in the first place. There is therefore not much hope if the people going into the schools are giving false information is there.
  • These hypothetical lessons will not teach you anything.

    Managing money will come naturally once teenagers start their first job and make their own money. Certainly true for people who start working full time after leaving school or further education.

    Unfortunately for a lot of students who make it into higher education many never had a job and the first thing they learn is debt is cheap, debt is normal, everyone is in debt.
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