How well do you think financial education is taught in schools?

dirty_magic

Pollycat wrote: »

Do people really need to know how tax & NI are calculated?

I'd have thought teaching the fact that if you earn £x but spend £x+1 is going to eventually land you in the s**t far more important.

Yes I think it is important for them to know. I've known people who have been on the wrong tax code and paying too much tax for ages before they've questioned it. There are also thousands of people who could be claiming tax relief that they haven't claimed because they don't know about it.

missbiggles1

Rev wrote: »

I respectfully disagree.

Maths has always been my worst subject. I see numbers and my brain just freezes. Even simple maths will confuse me. Percentages are far beyond my ability.

Yet I manage to run a house without amassing debt of any kind, all my bills are paid on time etc.

I have a basic bank account and if I can't afford it I don't buy it. Simple. Maths didn't teach me that.

I still can't do simple maths and numbers still baffle me.

You may be able to survive financially on that basis but financial education (whoever does it) needs to be more than "A borrower nor a lender be" or just based on Mr Micawber's philosophy, I'm afraid.

Rev

missbiggles1 wrote: »

You may be able to survive financially on that basis but financial education (whoever does it) needs to be more than "A borrower nor a lender be" or just based on Mr Micawber's philosophy, I'm afraid.

I at no point said 'just teach kids neither a borrower or a lender be'.


I simply said that not everyone who is bad a maths at school is incapable of managing their money well. So saying that because someone doesn't understand something like basic percentages they'll become a financial mess because it will 'go over their head' is quite frankly a load of crap.