MPs finally call for compulsory financial ed in English primary and secondary schools

MSE_Emily

Financial education should be taught on a compulsory basis in both primary and secondary schools in England, a cross-party group of MPs have finally said. MoneySavingExpert.com founder Martin Lewis has welcomed the Education Committee's new report – which has put forward many of his proposals – arguing that every child deserves to be properly equipped for independent financial life...

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MPs finally call for compulsory financial ed in English primary and secondary schools after damning evidence from Martin Lewis and others

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soolin

I think this is a very good idea - I am active on a few forums and the lack of any financial understanding from some people  is shocking. Even things like they get £75 a week clear spending money but go overdrawn and can't understand why as they have no idea how much they are spending and believe 'someone' ought to be warning them how much their daily coffee and panini cost a week as it's only £9.50 a day which is nothing and they only bought a pair of shoes and a dress that week .

There's little understanding about budgeting, the belief that you don't pay tax if you are 'too young' or live at home is not uncommon. 

I think there would be a lot less issues with debt and basic understanding about what 'borrowing' actually signs you up for going forward if there was some basic grounding.