Finance For Kids

Laura.A.IE

Hi parents and concerned citizens

I have struggling recently with the burning question...

Is my daughter learning in school the essentials for today's ever changing world?

I wonder if she has the "right" real life information when she leaves primary school and then further on when leaving secondary school...

I then sit and wonder what does she learn when playing on her tablet (so many apps) or my smartphone?

Is she getting all the right education she needs in different areas of her life both at home and at school?

It can be worrying and so I want to solve a problem that I think many parents ask themselves.

Do you think an app or more technology teaching children about finance in life is needed?

Thanks so much i really appreciate it :j:j

Baby_Angel

When I was in primary school I didn't know what a computer was. When I was in university doing my bachelor's I didn't own my computer. I am now a Web developer. It is the transferable skills that she needs to grasp. All the maths, logic and accounting that I learnt in primary and secondary didn't go wasted. If you think she is missing on some necessary skills please teach her now when she is young. My DD very savvy with her money already. I don't think she learnt it in school. She doesn't need any more Apps to learn finance. Just give her pocket money and show her how to manage it (spend or save for something better).

Laura.A.IE

Thanks for your reply, wouldn't you have wanted to know a bit more about money budgeting etc before getting into the age of which you can make financial decisions......many people (me included) had no idea about the credit score and things like that so when i missed a payment on my phone bill i didn't realise how much damage it caused me later on....things like that is what i am thinking of for not only my daughter because i can tell her a few things but i doubt i can cover all. What about the children that have no clue at all....?

lexia

I think it's great idea to teach financial education, personal budgeting, etc in secondary schools. I just searched for it and it appears there are some resources out there:

http://www.moneysavingexpert.com/financial-education/

Sanctioned_Parts_List

Hmm, at risk of being rude, my spider-senses are telling me that this is going to turn into a link to a kids finance app, just as soon as OP is able to post links... having cross-posted the exact same thread into 3 different boards.

I'm a huge fan of giving children a solid grounding in money, but not by plonking them in front of an iPad and saying, "here, play." The less time in front of screens developing neck and eye problems and poor social skills, the better where the SPL family is concerned.

The SPL children have a far better grasp of what money is and how it works than yours truly did at their age, simply because we talk about it openly and honestly, and not in the patronising and slightly consumerist terms of "saving up for something really nice."

baza52

you don't need an app to learn about life. As you (The OP) have learned this valuable lesson in life its up to YOU to teach your child.
That's what parents do .

baza52

Laura.A.IE wrote: »

Thanks for your reply, wouldn't you have wanted to know a bit more about money budgeting etc before getting into the age of which you can make financial decisions......many people (me included) had no idea about the credit score and things like that so when i missed a payment on my phone bill i didn't realise how much damage it caused me later on....things like that is what i am thinking of for not only my daughter because i can tell her a few things but i doubt i can cover all. What about the children that have no clue at all....?

you don't need an app to learn about life. As you (The OP) have learned this valuable lesson in life its up to YOU to teach your child.
That's what parents do .

LJB290

Saw the Arch Bishop on TV yesterday talking about teaching children about finances in schools.
Always thought this would be a brilliant idea and really should be right up there in the curriculum!

http://www.archbishopofcanterbury.org/articles.php/5442/archbishops-finance-task-group-announces-primary-school-savings-clubs

nkkingston

Citizens Advice have financial capability resources that have been rejigged recently. They're primarily aimed at advisers and trainers, to support the teaching of money skills, but the whole resource ss great reading for adults and includes packs and bitesize topics that can be used for self-help as well as teaching. The Other Resources page has some really useful stuff aimed at all ages as well, including kids.

ReadingTim

Put it on the curriculum in schools and it'll end up like Pythagorus' Theorum, Oxbow lakes or the 6 wives of Henry VIII - some of it might stick in the heads of some kids, the rest will forget it or never learn it because it's irrelevant to them.

What they do pick up on, and what will stick with them is attitudes towards money, saving, spending, credit and debt which can only come from their parents.

Laura.A.IE

I think something like this will open up many questions that children can begin to ask parents questions