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

Riverside_Ang

I think the first rule to teach children is not to spend money they haven't got. There should only be one exception to this, which is if they take out a mortgage - then they just need to have enough money available each month for the monthly repayments.
If they borrow money it only makes everything more expensive; they'd do better to save money by waiting until they can afford it and not paying interest on credit; what would otherwise have been paid in interest then remains their own money instead of being given away to someone else.
They also need to be taught that if something is half price or a 'really good deal', buying it is still spending money that they didn't have to - if they wouldn't have bought it at full price then they are not saving any money at all, only spending money they hadn't planned to.

MJTHFC

I'm a teacher and trying to get hold of the orignal programme to use in my lessons. Anyone got access to this that might be able to help?

Thanks

Ben_Bryant

In the pdf I downloaded there appear to be some blank spaces where information is missing.Also could you provide a black and white copy to save me using a lot of printer ink?

HardTimes_2

Ben_Bryant wrote: »

Also could you provide a black and white copy to save me using a lot of printer ink?

Yes - I echo this ... its ironic that a moneysavingexpert pdf will only print correctly if done in expensive full colour output... I presume some school budgets must be pretty flush to be printing a classroom full of 38 page full colour handouts ... come on Martin, let's have something that can be printed and photocopied in cheap black & white.
thanks

victorian_lady

Great - children can't learn too early about the value of money. When my daughter was 10 we sat down together and worked out how much money she needed in a year to cover the cost of Brownies, snorkelling lessons etc, plus an amount for spending on whatever she wanted. We then divided this amount by 12, and that's what I gave her every month.

She had to remember that some months she might have five lots of Brownies to pay for, so she had to ensure that she "carried forward" some of the previous month's allowance to cover it. She handled it very well.

Then, when she went to high school, I gave her all the child benefit, and she had to buy her own "fun" clothes, I bought essentials and school uniforms, but trendy t-shirts etc, she had to pay for.

I think it was good for her, she organised her wedding for about 80 guests for aroung £2000 :-)

nickysel

:jFANTASTIC initiative! As mum to 2 young adults on the autistic spectrum, & chair of governors at a special school, I'd love to know if anyone has any links to financial literacy resources for young people with SEN.

Superstarsaver

This is AWESOME! All kids should be taught this form an early age in school!

goldfish10

Dear Martin

I am not sure where to put this. I am 20 and going to shortly move out for the first time and have no idea about the best companies to sign up for water, sewage, electricity, gas. It would be great if you could write an article on this as you have written things about changing over companys, but what if you don't have a company to start with.

Thankyou

GoldFish

kittykat

Dear MSE

Thank heaven for this useful guide. Our eldest daughter of 3 (Year 11) had a 1/2 day workshop on Financial Planning and Budgeting yesterday. It is worth noting that she attends a mid-priced Independent Girls' (Day) school.

The first part of the session was helpful and they were given excercises, handouts and encouraged to discuss different scenarios.

Part 2 of the session was to watch the 'Shopaholic' Film.

I wish I was posting this in 'Funny Money' - but sadly it is true......

As parents, we all voted to support the Financial education session yesterday because we thought it useful, but I think we might have been duped into giving the teachers a morning off while the girls watched a film they have already seen a hundred times before!

Thankfully she has read, and remembered, your guide!