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iLegallyBlonde

Teaching Finance And Budgeting In Schools

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My Ex in Australia worked for a wealth managent company and whilst we didn't last very long, we lasted long enough for me to gasp the basics and write down the names of a few good books on the subject.

His dream if you like was to teach economics and budgeting to school children from 11 upwards to help them through college, Univeristy etc.

Could this be an idea that would work in this country, I think we have a desperate need but would the government allow the drones to be educated ?

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Good idea but we have an economy based on low-wage sectors like retailing telling people to spend money on tat they don't need, buoyed by a vast money shuffling industry intent on enslaving the population with debt and taxing them with interest.

I'm afraid teaching kids good budgeting and financial sense would be deemed surbversive in the current climate and any attempt to start such a scheme would meet with resistence.

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I think this is being considered.

However, Mrs. Mushroom is an High School Headteacher and I have discussed this with her and her view is that the problem would be that the students would find the subject irrelevant to their lives at their ages.

It might help but think back to yourself at school.

What about the parents? Do they teach any life skills to their children anymore?

Everytime there's a moral panic the cry goes out "The schools can teach that".

So, make all schools boarding schools then, because the schools aren't going to have enough time otherwise.

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..i can see it now...

two times two is four. four times four is sixteen. hold it. what this ? poems everybody, poems.

the laddie thinks he's a poet.!!!

'im alright jack. keep your hands off my stack.

new car, caviar. four star day dream.

think i might buy me a football team.'

absolute rubbish boy. get on with yer work....WACK.

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I think this is being considered.

However, Mrs. Mushroom is an High School Headteacher and I have discussed this with her and her view is that the problem would be that the students would find the subject irrelevant to their lives at their ages.

It might help but think back to yourself at school.

What about the parents? Do they teach any life skills to their children anymore?

Everytime there's a moral panic the cry goes out "The schools can teach that".

So, make all schools boarding schools then, because the schools aren't going to have enough time otherwise.

I agree that teaching an eleven year old about budgeting might be a little over their heads, since at that age they are probably still totally dependant on their parents for sources of income.

However, what about sixteen year olds? When I was in my last year at school, I had a part time job as a waiter, and many of my friends had part time jobs as well. For me, the small amount I was earning in my job seemed like I'd won the lottery, as in comparison to my megre pocket money, my pay from my job was massive.

I have always been fairly sensible, and saved most of my income, yet some of my friends would spend all of their money, and whilst this was not a massive problem at sixteen when living at home, I think you can get into the habit of spending, and when you do have financial responsibilities, the idea of saving is just not considered.

I actually think that most children by the time they are in their last year at school will be working at a part time job, and so an hour every two weeks would be well spent teaching these children about working out their outgoings, how to save for an expensive purchase rather than getting into debt. I also think that some of the children who are not suited to academic subjects will enjoy being taught about budgeting as they will be able to see a real life example of how this teaching will benefit them, as opposed to many subjects where they are disinterested because they fail to see the relevence of learning certain things.

Indeed, I find it quite worrying that the main bulk of people in debt are young people. I would have thought (and I do not mean to be judgemental) that they main people who would get into debt would be single parent families as the mother (or father!) will only be able to work part time, yet will have two or more mouths to feed. In contrast, many of the youngsters in debt are still living at home (read: little non-descretionary expenditure) and working full time. They probably have more disposable income than many of us, yet why are they in debt.

The reason I believe is that they do not know any other way of paying for large purchases other than by taking out debt cards, as they do not have any money left over from their pay, as they are just in the habit of living beyond their means.

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..i can see it now...

two times two is four. four times four is sixteen. hold it. what this ? poems everybody, poems.

the laddie thinks he's a poet.!!!

'im alright jack. keep your hands off my stack.

new car, caviar. four star day dream.

think i might buy me a football team.'

absolute rubbish boy. get on with yer work....WACK.

If we are going to start quoting from Pink Floyd...then how about this one from 'The Final Cut'?

'Maggie, Maggie, what have we done....to England?'

Or maybe 'Sheep' from Animals to describe the overly-mortgaged...

'Harmlessly passing your time in the grassland away;

Only dimly aware of a certain unease in the air.

You better watch out,

There may be dogs about...'

Mind you at the end of the song they do rise up...

'Bleating and babbling we fell on his neck with a scream.

Wave upon wave of demented avengers

March cheerfully out of obscurity into the dream...'

Still, just a song I suppose...the sheep are far too busy watching celebrity shopping idol to notice they are being herded towards the steel corridors of the slaughterhouse.

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My Ex in Australia worked for a wealth managent company and whilst we didn't last very long, we lasted long enough for me to gasp the basics and write down the names of a few good books on the subject.

His dream if you like was to teach economics and budgeting to school children from 11 upwards to help them through college, Univeristy etc.

Could this be an idea that would work in this country, I think we have a desperate need but would the government allow the drones to be educated ?

This is very much a part of the curriculum already and will become even more so. Take a look at the Every Child Matters agenda which is huge in education in England right now. Here's some blurb from the Every Child Matters website:

Every Child Matters: Change for Children is a new approach to the well-being of children and young people from birth to age 19.

The Government's aim is for every child, whatever their background or their circumstances, to have the support they need to:

Be healthy

Stay safe

Enjoy and achieve

Make a positive contribution

Achieve economic well-being

The trouble is, a lot of the materials that teachers use to teach about economic well-being are either provided or funded by the main financial institutions. That said, there is a range of organisations providing for young people now and debt management/economic well-being is a main concern. There are interesting changes in HE with all the bursaries too. The main message these groups need to get across to young people is that the world (and this country in particular) has changed dramatically in the last five years and the phrase 'it is not your parents' world' has become a mantra.

Well produced materials that emphasise the need for for economic know-how as well as branding know-how (HEIs now acknowledge that a degree is not enough) would be devoured by schools and colleges in my opinion. At least they could show they are working towards meeting the Every Child Matters agenda.

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The main message these groups need to get across to young people is that the world (and this country in particular) has changed dramatically in the last five years and the phrase 'it is not your parents' world' has become a mantra.

So true, Mrs Mushroom recently attended a conference of her Headteacher Association.

A speaker there said that there would be no manufacturing in this country within 10/15 years, it would mainly be in China.

Presumably helping Heads to plan longterm and make them aware of what the future may hold for their students.

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So true, Mrs Mushroom recently attended a conference of her Headteacher Association.

A speaker there said that there would be no manufacturing in this country within 10/15 years, it would mainly be in China.

Presumably helping Heads to plan longterm and make them aware of what the future may hold for their students.

Very interesting. I was at a conference this week where this was discussed and the overwhelming consensus was that parents who try to impose their experience on their children without fully appreciating just how much the world has changed are not doing them any favours at all.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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