The British Bankers’ Association call for money management to be covered in schools has the backing of the Independent Financial Services School of Finance. These proposals are aimed at helping young people leave school with the knowledge, skill and confidence on how to manage their money.
The British Bankers’ Association believes that the best way forward is to educate people and the younger they start the better. However, while the Independent Financial Services School of Finance agree that it would be useful to cover money management in schools, they are not convinced that small pieces of information will help people to manage their money.
Our view
We have campaigned for nearly 8 years for finance education in our schools. Our stock line is always that children leave education knowing Pythagorus and Newton’s laws but they do not know how to write a cheque, the perils of debt and how a mortgage works.