Will financial education make a difference to your children?

13 September 2013

Earlier this year the government announced that financial education will become compulsory in schools, at both primary and secondary level. The new curriculum has now been published with details of what children will learn.

In addition to additional focus on “financial mathematics” within the existing mathematics framework, where pupils will need to navigate problems to do with percentage changes and simple (i.e. not compound) interest, budgeting and planning will be introduced into the citizenship curriculum.

The published curriculum states that pupils will learn how to manage their money and plan for future financial decisions. The lessons will include learning about the different types financial product,  but also how public money is raised (and spent) through measures like taxation.

The curriculum will be rolled out across all government-funded, or maintained, schools, from September 2014, but will not be compulsory in the growing number of free schools and academies.

Tracey Bleakley, pfeg chief executive, said: “It is especially welcome to see the link between personal finance and public finances restored to the final programmes of study for Citizenship education.”

"Tax, public spending and how these relate to personal finances are all crucial areas that young people will now learn in addition to money management.”

However, not everyone is so delighted with the news. Vice principal of the ifs School of Finance Alison Pask told the Telegraph "The ifs School of Finance remains sceptical that dumping financial capability in Citizenship and Mathematics will deliver any meaningful change. Citizenship is already an overcrowded subject area in which financial capability is unlikely to amount to more than a few hours a term."

While it remains to be seen what effect an early education in money will have on today’s youngsters, perhaps in future they will see loan sharks and payday lenders coming. And perhaps the link between citizenship and public finances through taxation will spawn a nation of people less inclined to avoid as much tax as possible- although this may have limited effect as the curriculum is not compulsory in public (private) schools either… *end of scandalous stereotypical generalisation*

TOPICS:   Tax   Investments

18 comments

  • hotmail r.
    What should be compulsory is how to effectively bum foxes, why would anyone want to live in a system that doesn't teach that?
  • Will b.
    [...] Follow this link: Will financial education make a difference to your children … [...]
  • Cheesey
    Teach them to borrow and not pay it back. It's the way in 2013.
  • Roland B.
    @Pingback: fuck's sake! Find something original to say.
  • GetRichWithMe
    It should definitely be taught - but probably won't become widespread on the curriculum as big businesses, marketing and pr companies rely on peoples ignorance to sell their product
  • hotmail r.
    I see all these other posts an understand the individual words but, and correct me if I'm wrong here*, relying on schools to teach you about money is ridiculous, there are plenty of books on the subject that explain how investment works, get a fucking life... Also, seriously, how did all y'all miss the fact that really important stuff is still missing from the curriculum like how to spell tennants, how to bum foxes and the history of chewbacca and his dead mum?
  • hotmail r.
    * I'm not.
  • Captain.Cretin
    And all this from a government who cant count beyond 10 without taking their shoes off.
  • Tits M.
    Wonga should sponsor the curriculum. Just like McDonald's did with olympics.
  • Tits M.
    *the Olympics. Fuck you Grammar Nazi.
  • Grandma N.
    I believe it's The 2012® London™ Olympics© (all rights reserved, or else).
  • Pedant's C.
    I see all these other posts an understand the individual words but, and correct me if I’m wrong here*, relying on schools to teach you about History/Geography/Maths is ridiculous, there are plenty of books on the subject(s) that explain how stuff panned out/the world is/counting, get a fucking life… Also, seriously, how did all y’all miss the fact that really important stuff is still missing from the curriculum like how to spell tennants, how to bum foxes and the history of chewbacca and his dead mum?
  • Pedant's C.
    *I'm not either
  • hotmail r.
    Pedant, as well as copying my spelling mistake, moron, you fail to understand that my point is that schools cannot be relied upon to teach everything. They are having enough trouble trying to 'teach the test' to the countless number of dim-witted children that are only attending because their parents have to get some alone time to watch Jeremy Kyle. No one taught me about money or investing but I wanted to know so I READ A FUCKING BOOK. If the schools can concentrate on teaching kids to read well so that reading is not a chore, those kids will be able to easily find out about anything they like, not just what they are told in school. Read a book to a person, they might remember it, show them how to use a library and they will be able to know anything their heart desires.
  • What T.
    @Yahoo sucks You're on the wrong website. The retards on here are mostly from the lower echelons of society, and tend to think that offspring are solely a benefits-maximising concern. Heaven forbid that they take anything to do with the education of their feral offspring, particularly when there is Tennant's to be consumed.
  • Pedant's C.
    Dear Hotmail, let's see if I understand you correctly. You make a spelling mistake, I cut and paste your post to make a point and I'm the moron? Oh dear. Perhaps one should look in the mirror. Of course being as how you are a superior being on here and everyone else sends their children to school "because their parents have to get some alone time to watch Jeremy Kyle" your erudite argument and expanded vocabulary means that you can put together a reasoned argument without havng to resort to abuse or swearing. Oh hang on......
  • Pedant's C.
    Oh look, what a moron, I made a spelling mistake with the word "having".
  • kvinner A.
    Significant work. This fount of compressed piece is truly effective to a close terrorism. I really like it and I aspire more people certain wide it.

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