Schools Are Failing To Teach Money Matters To Our Children

In the latest WealthTalk episode, Kevin and Christian discuss how schools are failing to teach financial education to children and the serious long term consequences of this. A recent survey commissioned by the Centre for Social Justice (CSJ) and the debt collection agency Lowell found that 68% of young people in the UK reported that a lack of money management skills is a key factor in driving them into debt. The study noted that 79% of adults who didn’t receive financial education have fallen behind on utility bills or council tax payments over the previous six months. They are also more likely to be unemployed or earning less than the national average wage. With two-fifths of teachers not knowing that financial education, a subject that has been mandatory since 2014, is a legal curriculum requirement, we can’t rely on schools to teach our children about money matters. It is not about teaching your child to be rich, but empowering them with the financial skills to help them follow and achieve their life goals. Tune in to the episode to hear Kevin and Christian’s experiences with money talk growing up, the importance of educating your children and the financial consequences that could impact throughout their life if they are not correctly educated.