Why teaching money management in schools should be compulsolry

So why should teaching money management in schools be made compulsory? Here is an example,

….So I helped my son to open a current account, my reasons were so he can learn to manage his cash flow and encourage him to start saving. However, he was happy to have a shiny new card where he can use in shops  and get money out Of ATM’s….Indefinitely, well this is a little bit concerning.

With £50 cash in allowance to his account, one would hope he would transfer £30 to his savings account and £20 for personal use  if needs arises, though i doubt it will as I still provide for everything.

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So where is the difference in views stem from? 100% certain its from lack of financial education in this subject!  As much as Pythagoras Theory is exciting and Photosynthesis interesting (sarcasm) Personal finance is crucial and a survival skill for every student as they prepare to embark on their University life which is semi-Independent (I say semi as they still ring home for cash) and then be thrown to life where unfortunately they have to be fully Sovereign, where they will be renting a space, getting a Mortgage, paying bills and juggling daily expenses. From experience I know how daunting this is, it takes time and a few mistakes to get it all together.

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I am certain Personal finance knowledge instilled at an early age will not only benefit individual but also the Economic state of our Nation. Young people will have the knowledge to make informed choices on their daily product or service acquisition.

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Relying on school of life to teach us Money skills should not be an option in this century! Adults who consist of Parents and Teachers ought to make it a mandatory skill to have before any others to come.

Deposit your budget for investment in the future

Until Personal Money management is emphasized in school I will continue to teach my son what I know…

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With Love

Mo Ateng Hope

 

8 Comments

  • sk October 20, 2016 at 7:22 pm

    I agree with you, kids should be thought more about money and life, we know how they are give them some money and they’ll spend it on anything, as longest it’s spent…

    Reply
    • Mo Ateng Hope October 20, 2016 at 7:28 pm

      True, no concept of money or how to spend

      Reply
  • Patricia Stelmach October 22, 2016 at 3:41 pm

    Such good blog post, more people should preach about these things. I came out of school completely clueless to core aspects of life such as money.

    http://www.patriciastelmach.co.uk

    Reply
    • Mo Ateng Hope October 22, 2016 at 4:17 pm

      Thank you Patricia, I wish this was emphasised

      Reply
  • Aliona October 22, 2016 at 7:52 pm

    Loved reading this, I feel really inspired now with all the money points. Please check out my latest post on Halloween outfit ideas!

    Kisses xo | From Aliona With Love

    Instagram @alionawithlove

    Twitter @alionawithlove

    Reply
    • Mo Ateng Hope October 22, 2016 at 10:47 pm

      Thanks Hun will do 🙂

      Reply
  • Taislany Gomes October 25, 2016 at 12:15 am

    Great post doll!

    Lots of Love,
    BLOG | TAISLANY

    Reply
    • Mo Ateng Hope October 29, 2016 at 8:49 am

      Thank you Hun 🙂

      Reply

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