Finance in schools? Here is why we think it is incredibly important to learn

We already know that schools are under huge amounts of pressure when it comes to what is being taught and ensuring that the curriculum is delivered to all children. This means that it can be hard to think about adding anything more into what our children already learn during their busy days.

But, what about when it comes to life lessons? Things that those children should understand and have knowledge of to prepare them for adulthood.

At the moment, many of these skills are not being taught within a school setting. Which means that children miss out on a valuable education on things that they will need for their later life.

This includes personal finances and how to manage them and deal with money. Personal finance is a key part of our future lives and therefore, it makes sense that it should be something that is covered during the school day.

In fact, we have put together some of the main reasons why finance (or should that be how to look after your money) needs to be taught within a school setting. 

Money is in every part of our lives

There is a good chance that no-one will want to say it, but money is something that touches every single part of our lives. It is how we live, we eat and also the reason that we have a home to call our own.

Money is the reason that we go to work (for the majority of careers) and if money isn’t looked after properly, then it very quickly gets into a mess that is hard to get out of. We all need money, which means that no matter who we are and no matter where we live, it is a great idea to have a good understanding of it from as early an age as possible. 

Financial difficulty has a huge impact on our lives

If you have ever found yourself in debt, then chances are that you are going to quickly learn that it is not a pleasant place to be. Debt or a lack of savings behind you can not only make things harder for you on a day to day basis, but it can also have long-lasting effects too.

You may find that financial difficulty leads to issues such as anxiety and depression. Not only this, but it can also mean that families break down or relationships end. It is also worth knowing that money worries are also one of the leading factors when it comes to suicide too.

Children can learn the basic skills of managing money

Children are like sponges, they absorb information at a much easier and quicker rate than adults do. This is proven when a child learns a language, which they pick up in very little time. The same can be said for managing money.

Whilst some of the aspects might not make much sense to them when they are small they will retain that information that they are taught in class. Then, in later life, they will not only understand the different aspects of money management, but they will know what to do too.

Adults are not always the best teachers

The final point to consider is that whilst as parents and adults we like to hope that we are able to teach our children everything that they need to know, in reality, this isn’t always the case. If we don’t understand how best to manage our own money, then how can we ever expect our children to learn from us? If this lesson is taught within a more controlled environment, such as a school, then this can only be positive for our children. They will have the knowledge that they need in order to not only manage their own money in the future; but maybe even help their parents to look after their money too. 

Finances might not be something that really crops up in the mind of our children, but, just like many things, it is worthwhile teaching them. If they learn from an early age, then they should leave school feeling confident on how to work with their own personal finances and ensure that they lead a positive and healthy financial life later on.

*This is a collaborative post*