Young NCB member Chloe Lintern stresses the importance of
compulsory financial education in all schools in a speech made at NCB’s AGM and Annual
Finance is everywhere, and the chances
are it will dictate your day-to-day life without you even realising it. People
these days are of course responsible for managing their own finances; however
where they learn to do this is a question that needs answering.
Only recently was financial education
included in the curriculum as part of maths and citizenship education. Pupils
are now to be taught how to manage money and plan for the future along with how
public money is raised through channels such as income tax. However problems still
remain: what happens to the generations that missed out on these vital lessons?
What's more, this curriculum is only compulsory for a small section of schools.
Free schools and academies don’t need to follow it and so what happens to, once
again, those young people who aren’t being taught?
Only once in my secondary school
education was I taught financial education, and to me it wasn’t realistic
enough. I mean, does anyone know where I can get a brand new BMW from for £2,000?
Okay, so I was taught something, but do I know how to budget? Do I know how to
pay a mortgage or even get one? The answer to both those questions is no. In my
opinion, schools aren’t doing enough, and I think that’s where youth
organisations come into action and help reach out to young people.
YNCB has also identified that we need
to make sure that financial education is being monitored and that teachers have
fun, interactive materials as well as suitable training. YNCB’s financial
education sub-group is focusing on these problems, and one of our solutions is to
create a supermarket game for young people. The idea is that young people work
with their families to figure out the most cost-effective way of doing
something, such as cooking a meal. We hope to use technology including scanners
to make the game interesting and interactive and also hope to work alongside
supermarkets such as ASDA.
The one thing I want you to walk away
with from this is that financial education is crucial – and is needed. As I
once heard someone say about students: “They’d rather be learning budgeting
skills than doing simultaneous
16-year-old Chloe Lintern,
member of YNCB
Chloe (back, centre) with other members of YNCB at the AGM