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We need financial education in schools – and there’s a pot of money available to pay for it

Frames We need financial education in schools – and there’s a pot of money available to pay for it

Description We need financial education in schools – and there’s a pot of money available to pay for it

Comments We need financial education in schools – and there’s a pot of money available to pay for it

I agree It comes quickly though when you start a business Comment from : @teryd5672n

Fully agree with you Much of finacial problems is due to ignorance of financial Buying a new car instead of a used car by a new entrajcec to workforce is one good example Comment from : @bennyng2414

Hi Richard! Why just in England? With tour name and publicity woukd you consider creatung one for Scotland, wouod happily aign it and promote every chance I get Thanks for the channel! Comment from : @kadsr859

I'm glad you made this video it reminds me of my transformation from a nobody to good home, $34k monthly and a good daughter full of love Comment from : @VivianGonzalez-bz1tp

Yes And even further economics education tells nothing much about the history of economic thought, eg on the nature of land now universally called 'capital' Comment from : @elrig9573

Thank you for the great video! It was really interesting to watch, and I learned a lot Wishing you success and inspiration for your future travels! Greetings from beautiful Prague! 🇨🇿😊✨🚀 Comment from : @TouristTravel4K

Our God indeed is a covenant keeping God Has he said a thing and not perform it? I watch how things unfold in my life, from penury to $115,500 every month and I can only praise him and trust him more Hallelujah🙌🏻❤️🇺🇸 Comment from : @Ashley-y6x2e

You have to pass a driving test before you are deemed safe on the roadbrMaybe if you had to pass a personal finance test before you could get credit that would be beneficialbrBanks would be falling over themselves offering teaching in this subjectbrPut the into the ball court of those that gain the profit brCitizens Advice could set the requirements needed Comment from : @maria8809ttt

Dropping parts of the curriculum to make room for financial education yes, dropping parts of maths no, not maths Comment from : @avinpertab5051

Why does the Institute behave this way? Because these are the last days of this particular Rome, and nothing's left except the looting Everyone who can grabs what they can before the fall Comment from : @bigbillkruse

I’m retired, but I used to ask my school leavers (6th form) what they thought was missing from their education Every year lack of financial education came up, along with some other “life skills” like how to attend an interview It’s time to reconsider what is actually useful and relevant in our school syllabi Currently that is based, as it was originally in the 19th century, on what politicians think is useful for business If it is reoriented towards the needs of the pupils/children, the whole society will benefit, and there will be much mess disruptions in secondary schools Comment from : @12theotherandrew

Are you kidding me? Do you really want to create financially savvy citizens? Who is gonna boost the economy buying all those stupidly expensive Rangies and quartz kitchen tops? Mad idea sir! Comment from : @federicop74

Business studies and/or economics teach you a lot of this but when I was at school in the 90’s they were only a levels not GCSEs My first weeks of economics a levels really opened my eyes Comment from : @adamcairns8732

Meanwhile my daughters have to spend an hour blowing into a flute in ‘music’ at school Utterly pointless Comment from : @adamcairns8732

I love your idea of using the fines to fund financial education Comment from : @timplee

I'm shocked that the professional institution of accountants acts as its own regulatorbrAs an engineer I am aware that the institution of civil engineers monitors the professional conduct of individual members, however, I that the Health and Safety Executive and the Office of Road and Rail investigates major Civil Engineering and Railway incidents and Accidents Similarly, the Civil Aviation Authority independently investigates air accidents, major incidents and Accidents, eg, the recent Boeing crashes Comment from : @clivebroadhead4381

As someone who teaches maths to adults (including how tax and NI work and how to read a paycheck) I wholeheartedly support this Large parts of GCSE maths are ill-suited to most people's needs; everyone needs some maths, but a lot of what is currently compulsory is irrelevant to real life and should be optional, there for those wanting to go on to further education in a maths-based subject Add more practical maths instead, including this Comment from : @elvwood

I agree Comment from : @adhoc37

Nice topic! How Money Works made a video about how the economy (or in ither words, businesses) rely on the working class spending more than what is responsible for them to spendbrThe title is "Can we afford for everyone to be financially responsible?" Comment from : @موسى_7

10 of the most popular websites are now gambling websites Comment from : @stevo728822

Do they not do maths? Comment from : @CurtOntheRadio

On this point, I’m 100 with you… Comment from : @anjux3673

I would love to hear your view on the book "The Network State" about the tech bro plan for the future Comment from : @halfway2hell33383

Credit Cards are one of the most complicated financial products that you can take out as a retail customer They are as complicated as pensions You people need to be warned about this Comment from : @tlangdon12

Financial education should run parallel to meaningful political education, citizenship and sociologybrIt could be called "life skills" (!!??)brSubjects like history and geography could be part of that Comment from : @philipcrossley1279

This is glaringly absent in the US as well Comment from : @peashooter42

Subtitles tell me this is about the institute of childhood accounts Such a body would actually be very useful Comment from : @JohnThomas-w8l

They may educate kids about "household economics" but they will never educate kids about the capacity of the currency issuing state Comment from : @blackbulldog4897

Sadly I think there is a lot people making money out of the youngsters ignorance and want it to stay that way Comment from : @NodrogMacphee

I think they did it on purpose Comment from : @mikesmart390

Couldn't agree more Richard Comment from : @bennieboi3802

I enjoy watching your videos although I don't agree with much of your left-leaning social presumptions that people are essentially hard working and want to better themselves But this really hits the nail on the head and needs to gain traction Entrenched interests will make sure it doesn't Cynical? Yes Seriously so Comment from : @ianpendlebury3704

Absolutely! It seems intentional that financial education is not taught at all Comment from : @drscott1

7 minutes in and this is by far the best video of yours I have seen Its a great cause to champion I have been carping on about it for years but I have seen no evidence of it being taught in the young though if there isd one thing that life has taught me its that when you are young time is your friend and will help you in your financial journey Financial education could be the single most effective tool in reducing inequality yet even those who complain about inequality the loudest don't seem to see it I am not surprised, most teachers I have met seem to be financially clueless so our kids have lees chance than they might That said the tools we have at our disposal today are so much better than even 20 years ago, there is no excuse We also have a captive audience, kids might find their English teacher or maths teacher inspiring and might find the curriculum dull but almost everyone dreams at some point in their childhood of a better life, almost every boy sees their first Lamborghini and goes wow! The compounding formula in a maths classroom might seem a little dry but in the context of credit card debt it should scare the living daylights out of you and in the context of an ISA fill you with hope Comment from : @rupertmiller4718

Financial Education in state schools?brHA HA!brGood luck with that! Comment from : @widebleek8138

Education in the 70's-80's was abysmal, I was totally disengaged with school I went from a straight A student to dodging most of each term, I wrote my own 'sick notes' which were never checked up on Also stop teaching about religion and deal only with fact, there's no place for fiction in schools outside of english literature and drama Comment from : @johnwilliams9914

No government wants educated voters who can work out how to not vote against their own interests Comment from : @EddieBarton-b4q

Yeah but my ww1 poetry was so essential Comment from : @declanquigg6343

They don't want the plebs to know anything about money 😅 they want us to get into debt, and work until we drop Comment from : @ben0298

I knew all this by the age of 15, because my parents set me up with a Post Office savings account From that learned about compound interest Dad ran his own business but had investors, so from that I learned about owning shares in a business The best way to educate the young is to force them to start saving & investing money from childhood age So many parents in the UK do not use the Junior ISA allowances I've made it a mission to teach the Gen Z/A members of my family and close friends about investing, they all have every reasonable chance of becoming hundred-thousand-iares or even a millionaire by the time they are in their 40s Comment from : @OneAndOnlyMe

Unlike many other European countries the UK doesn't have any Schools of Commerce And it may come as a surprise to some, that in the EU, the checkout girl at the supermarket has most probably served an apprenticeship, studied at a Schools of Commerce and is well versed the financial acrobats of running a business Comment from : @michaelmayo3127

I'm a Scottish CA and have asked my Institute ICAS about these fines and what happens to the money and got the exact same response It's a very important issue that has been brought up by many, including, I think, Martin Lewis? Financial education in schools could be funded by these fines but apparently, it's too complex to administer! Comment from : @mikemcnulty6029

A financially illiterate population can be fleeced at will by the finance industry The finance industry is one of the biggest donors to MPs and political parties MPs and political parties show no interest at all in educating people about finance There might be a connection there Excellent video, Richard Comment from : @charliemoore2551

My wife, who was an educational publisher, says this came up a lot as an issue She also points out that, as we are desperately short of maths teachers, if we gave over three periods a week to maths and two to financial literacy we would realise two benefits Comment from : @MartinGamm57

The rich and the powers that be don't want to educate the population too much, because an educated population asks too many questions Comment from : @Michael-yq2ut

The problem is who sets the curriculum for these mandated subjects The wrong education could be worse than uselessbrbrEducation needs a complete overhaul It is not fit for purpose and never was IMHO Comment from : @andrewmallory3854

No, the philosophy is; keep them uneducated in the workings of finance - because giving the tools to make informed financial dispositions, would upset the rip-off artist's everyday routine Comment from : @michaelmayo3127

Which financial education books would you recommend for this? In schools or for the general population Comment from : @bensisko2443

Do none of these children have parents? Take some responsibility Next you will be expecting schools to potty train our kids Comment from : @almostthere-q6c

Let's be honest they still haven't fulfilled that education, education, education promise yet Comment from : @Ma55ey

No link to the petition? Comment from : @zetectic7968

How can you justify dropping maths for financial acumen solely, they should be taught in parrallelbrMaybe it should be taught, as to how to make money and pay the least amount of taxes on it in school from primarybrThe reason behind not giving these sorts of acute lessons in life is the more ignorant people are the more they can be milked and so that is how the taxpayer is the milch cow of the uber rich and those in powerbrIf more and more people know how to use the system to their advantage, who suffers those at the top because they can no longer exploit their underlings, hence the status quo Comment from : @barrydwyer2039

I fully support including financial educaiton But drop compulsory math and you'll get a generation of d*mba**es who will think they know economics and investment and will be 100 incapable of doing anything productive Better reorganize the curriculum, drop a bit of civics, etc Comment from : @aniksamiurrahman6365

Yes brGovernment equals collective responsibility Comment from : @GurmitBSingh

They should be getting financial and political education at school 🤔 Comment from : @christinavuyk2026

Yep, was the same when i was 18 in the early 90s The establishment will never permit a financially literate population Comment from : @jonothonlaycock5456

The ICAEW is a very conservative part of the financial system Don't look to them for revolution Someone should explain how we got from an average house 3x average income to 8x How the bankers got rescued from their greed in 2008/9 by pumping up house prices by QE at the expense of future mortgagees QE was a can of worms supporting greed and excesses Nobody is interested in opening it up because of vested interestsA Ponzi scheme for the bankers to expand their balance sheets Comment from : @erongi233

Spot on Not sure there teachers are up to the task ? We have a high level of an educated C of Exch in RR who has proved that even understanding the basics are HARD to grasp? Comment from : @graemeshort1928

And civics also Comment from : @soultrap8554

Thank you so very much for this video! Not only GB but all schools in EU or world wide need this kind of education! brbrPS: I believe that most (older) people are not well or proper educated in this to! Comment from : @agripparapax3865

It says the petition is closed! Comment from : @Smartgran

Not so long ago, I saw an article in the Financial Times that they were now presenting several personal finance modules for members of the Royal Marines going through training Perhaps this initiative should be extended to our young people? brbrI took an interest in personal finance on my own - it certainly wasn’t taught when I was at school The person who inspired me in the early 1990s/2000s was Alvin Hall who put the subject of personal finance over in an approachable and understandable way - his books helped my understanding greatly Comment from : @northyorkshirechris5735

Would better financial education have helped us see through the PPP scam? The financial services industry wants us to fear financial loss and along the way, to bolster the message, they give us real tastes of it Comment from : @indricotherium4802

Yes, a financial education is of immense value This would also help with the realisation of how an unequal society is skewedbrI remember learning how compound interest worked at school and that was interesting Comment from : @Youchoose4625

Once they did know because they had to and there was no alternative whether the PO Savings, living from weekly wage, and so on Society changed with liberated finance & an entitled sense of being able to access consumer credit, which, in Britain, goes back to the mid 60s Comment from : @CMI2017

Thats something that family/career can teach them Ofc if school teach these fine but kids will do as seen at home with money Comment from : @AUNEDJ

I was saying this more than 20 years ago when I worked as a teaching assistant Bottom set year 9 boys being taught Shakespeare and German but not how to open a bank account or work out sales percentage, interest rates etc etc Comment from : @bearsbreeches

I would love you to do a video explaining, in the easy way you do, compound interest Comment from : @SimonLee-y1j

The best financial education I had was getting a milk round, at the age of nine, and opening a Post Office savings account I'll be sixty this year Comment from : @SimonLee-y1j

It's surely insane that the ICAEW keeps these fines The ICAEW in this connection should be acting as agents of government and the fines should be passed over Comment from : @lonevoice

I can clearly remember that back in the 70s, when I was in high school in Australia, asking my parents WHY I wasn't being taught in school anything I needed about the real life I was about to be faced with, eg: money, politics, law etc My parents couldn't answer mebr50 years later and nothing has changed here either 😕 Comment from : @janeglover3118

There's no want to provide financial education, businesses need wage slaves Comment from : @magnox72

Yes v important nowadaysbrBut bugeting is paramountbrIn times of sharks and irresponsible governments? Comment from : @GurmitBSingh

I'm sure it doesn't suit the greedy few to have the great unwashed know about money Comment from : @PatrickMcLaughlin-ji4rb

Good idea Comment from : @richardboland1935

Thanks In my opinion, financial education is not enough Stoic education is another plus Comment from : @jackzhu5094

Would love to see financial education in mathematics and cross cirriculum Educators do struggle with resources and training Never the less young people leaving school should at least know the difference between a debit and credit card Wonder how many adults know the difference Comment from : @ryantennyson7562

Having worked as both a Business Education and Economics Lecturer and Head of Department in an FE College, I can safely say that money should be taught by specialist teachers with common learning materials As an interim, just enabling students to mentally calculate percentages would help! Comment from : @SimonSlade-xw5kr

The entire system is a huge scam destined for collapse in the near future, so of course the system is not going to educate its ongoing victims as to how to avoid being scammed in order to keep the scam going for as long as possible Comment from : @Actimorphic-Fitness

Thank you for another excellent video Very informative Comment from : @benjaminford9932

Hi Richard , Your video yesterday about the Labour government and nuclear power , the runway and carbon capture The real reason for the government doing this madness is simple It's all about profit and loss in accounts It's socialise the losses and privatise the profits Let the public have the losses and the company's keep the profits It's not fantasy , it's a government agenda for big business 👍👍 Comment from : @peterminton8105

Drop drama, my kids seem to do a hell of a lot of drama, very little of practical things like cooking or personal finance Comment from : @colhertford9855

And the second biggest financial decision people may ever make happens when they are 18 with zero knowledge of finance or the working world! Student loans anyone? Comment from : @jamesgeorge8915

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