Teen Cash Class Guide: Free MoneySavingExpert.com PDF Discussion Area

ruthcoppard

Really good lesson plans and follow-through. I wish I'd read this when I was younger, or when my kids were younger. I'll forward it on to them anyway. thankyou

Teddy2labs

After reading this I'm just disappointed that I missed the ITV programme. BBC 3's 'Spendaholics' series is interesting in highlighting individuals whose spending/lifestyle has got out of control, but a series of regular Martin Lewis Money Saving Expert lessons/programmes along these lines would be a very educational tool for both finance lessons in schools as well as improving financial awareness for many adults. Keep up the good work!

Mashe

MSE_Dan wrote: »

This is the discussion area for the totally free, downloadable PDF

Teen Cash Class Guide

Please click reply and let us know any feedback

For several years I have thought that we silver surfers were missing out on information that was being made available to the younger generation through their curriculum and here, at last, is a catch up for us in the finance department. Well done!

Corinne_Laming

an excellent resource for training teens in managing money. Is it possible to obtain/purchase copies? I think my ink cartridges would cry if I tried to print it !!

MojonChica

Thanks for this. You've saved me a lot of time. I teach teens as well as adults and am going to use these ideas to make my % lessons more relevant.

MSE_Martin

Couldn't you have provided a proof for this, rather than just saying that it is "way too complicated"?

Anyway, would you care to post your proof now? Also, are you assuming here that interest is calculated annually, after all the monthly payments for a particular year have been paid?

No Im assuming it works the correct way - please see the credit card minimum repayment calculator. It is easy to do this on a spread sheet - it is virtually impossible to do on a calculator.

You need to add the interest each month, minus the monthly percentage payments though once the payments go below £5.

You can see a full explanation of how it works in the credit card min repayment article.

martin

sarahe

Martin
Amazing - for years I have been saying that schools are missing out on teaching children vital life skills. Unfortunately some their parents (I didn't until I discovered your site a few years ago) don't have the skills to teach their children to be money savvy.
I'm a primary school teacher and when I first started we used to have links with a bank and children could pay in a £1 or two a week. I know this was really time consuming for the office staff etc - but children were beginning to realise that saving was important and a little about the real value of money. We stopped it.
Like Jamie Oliver's healthy dinners campaign I think that all children should be taught about how to look after their money from an early age and the government should be helping schools do that.
I certainly think an MBE should be on it's way to you Martin

minimoocow

I like the article but find it shocking that it has come to a tv programme asking Martin to do this.

Why do schools not teach life skills anymore? When I was at school we did have basic lessons on debt, cheques, banks accounts etc as well as washing and repairing clothes, cooking etc and this was only 10 yrs ago (although most of my friends at other schools didn't!)

It is a sad reflection of gov policy that schools don't have enough time to teach what people need to know but focus on targets in subjects we can't remember after leaving. I think something more radical is needed to get finance on the agenda in schools

Maths_3

Martin
The article and programme were both great, well done! Would you be interested in supporting teachers in gaining expertise in financial matters so they can pass this knowledge onto their pupils? Maybe starting with training some teachers and then running an inter school or regional challenge involving their pupils. I work for the National Mathematics Centre NCETM, www.ncetm.org.uk and run events for teachers and this sounds an ideal subject to educate our pupils and equip them with some essential life skills. It is amazing that some children are surprised that loans have to be repaid!

debteliminator1

Martin,

As far as I can see, you and your team have made a superb job of putting together the "Teen Cash Class Guide".

The report cuts to the chase. It's very informative. And most importantly, you very cleverly use the K I S S (Keep It Stupidly Simple) technique in the overall delivery for all to easily understand.

It's definitely a "must read" on the given subject, not only for the intended age groups, but also for anyone else who doesn't fully understand the many pitfalls that bad debt can bring.

Wonderful stuff. Keep up the good work!

A.