You are here: Home - Saving-Banking - News -

BLOG: Could money tempt you back into the classroom?

0
Written by:
05/01/2016
Could you ever be tempted back to school? What if someone paid you?

Personally, it would depend how much they were offering. If it were enough to provide me and my family with lifelong financial security then I could be persuaded. Anything less, I’d run a mile.

In reality, the chances of someone waving big wads of cash to entice you back through the school gates are slim to none.

But there could be a way of securing your family’s financial future by heading back to school. What if you were offered the chance to attend financial education classes with your kids?

Personal finance officially became part of the English national curriculum for secondary school pupils from September 2014. (It has been taught in schools in Wales, Scotland and Northern Ireland since 2008).

Educating kids about money from a young age is without a doubt a good idea. The hope is the knock-on effect of an early grounding will be felt later in life by the individual and wider society.

But what about older generations?

A study by NS&I found a quarter of UK adults think a financial education should be instilled in the young by parents or other family members.

BUT the research found that more than 15 million UK adults never received any formal financial education but wished they had, and more than four million feel “out of their depth” when it comes to managing money.

How can adults be expected to supplement their kids’ financial education if they don’t have the know-how to do so themselves?

We’re constantly being reminded we’re living longer and the state won’t be able to support us in retirement. Going back to school to learn more about saving, investing, even budgeting could benefit everyone.

So maybe the government should set up child AND adult personal finance classes. Whether anyone would attend them is another matter. But as with so many things, you never know unless you try.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Autumn Statement: Everything you need to know at a glance

Yesterday Chancellor Jeremy Hunt made his first fiscal statement in the role, outlining a range of tax measure...

End of Help to Buy: 10 alternatives for first-time buyers

The deadline for Help to Buy Equity Loan applications passed on 31 October. If you’re a first-time buyer who...

Moving to an energy prepayment meter: Everything you need to know

As households struggle with the soaring cost of energy, tens of thousands of billpayers are expected to move o...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week