This really bugs me, why on earth are we not teaching our school kids the basics of financial education? There is a huge pent up demand from ordinary citizens and parents who desperately want their kids to be financially literate. What the hell is the government doing? Or not doing?
Over 100,000 people have now signed our petition calling for compulsory financial education in schools, which means it must be considered for a Parliamentary debate.
We hit the magic 100,000 number last night, showing the enormous nationwide support for our campaign to help rid the nation of financial illiteracy, which can lead to serious debt problems (click here to sign the e-petition on the Government's website
Here is the petition:
Make financial education a compulsory part of the school curriculum
Responsible department: Department for Education
It's a national disgrace that in the 20 years since introducing student loans, we’ve educated our youth into debt when they go to university, but never about debt. We're a financially illiterate nation, with millions caught by misselling, overborrowing and being ripped off. Is it any surprise we’ve just had a debt imbued financial crisis. This must change. Companies spend billions on marketing and teaching their staff to sell – it's time we got buyers' training. The most cost effective way to start is to ensure every child in the country gets a basic understanding of personal finance & consumer rights before leaving school. This isn’t a large resource requirement. Some schools already do it, but the majority don’t and that needs to end. Unless it's compulsory, head teachers can’t prioritise for it. 97% of people support this, yet no one will take up the baton. We have one of the world’s most complex consumer economies; it's time our children were taught how to thrive and survive in it.
The government says:
In the meantime, we would like to update you on the Government’s current position on the substance of this e-petition.
“The Government agrees that young people should have access to good quality personal finance education, so that they leave school with the knowledge and confidence to manage their money effectively. Parents can also play a crucial role in helping young people to become financially aware in their day-to-day lives.
Schools already use Personal, Social, Health and Economic (PSHE) education as a framework within which to teach young people about personal financial management. The existing PSHE programmes of study include elements aimed at ensuring that by the time they leave school, pupils should be able to manage their money, understand and explain financial risk and reward, and identify how finance will play an important part in their lives and in achieving their aspirations. We are currently carrying out a review to determine how best to support schools to improve the quality of all PSHE teaching.”
Sighs, this is the response. What the hell, guys, get moving quickly on this.