The financial industry regulator, the Financial Services Authority (FSA) has suggested that the Treasury i.e. you the taxpayer or you the employer, should foot the bill for the proposed introduction and increase in financial education in the UK.
It is proposed that very soon employers may be forced to offer financial education to staff and part of these costs should be covered by employers themselves and the public.
Our view
Completely missed the point again! It is too late for anyone under the age of 16 to learn new tricks! Forcing employers or staff to pay for on site financial lessons may have some impact but not enough. Changing the habit of a lifetime will need much deeper social changes and this must start at a very early age to achieve real success.
Financial education at the age of 5 onwards is the key. Children spending time everyweek learning about banks, building societies, debt etc will serve them much better than learning about how a river meander deposits silt on the inside where the flow is slowest or that Wordsworth did some great writing.
We are not saying that children should not learn about literature or Geography - it is just that they should spend more time on learning about managing money and less time on other areas!
We have banged on about education for years! Teaching an old dog new tricks will not work!
Puppies can be taught.