Most of this country is illiterate – financially illiterate. We are one of the most advanced nations in the world but when it comes to financial education we are living in the dark ages.
Our education system provides a wide ranging curriculum that covers a diverse range of relevant subjects but it fails every single child by neglecting to provide lessons in financial management and responsibility.
The majority of children leave school equipped with the ability to work out long division but have no concept of money management, wealth creation and debt management.
Far too many people have no idea how inflation or interest rates affect their finances and how mortgages and pensions work, yet these issues will always impact upon us in adulthood. One of the major contributing factors to the debt crisis is that too many people have no concept of debt and the effect it can have on them.
Those who have no idea how money works will without doubt be hardest hit by the pension crisis. If people were educated on how poorly pensions perform and how ineffective they are, they would be able to take action to address this.
Our own governments are poor role models. Successive governments have dined out on cheap credit and hoped the music would never stop. Well the music did stop and lessons are now hopefully being learnt but unfortunately these lessons are not being taught in our schools.
We can however push for change. An e-petition demanding compulsory financial education in all schools has been created and already over 100,000 people have signed it. Let’s make sure the government is forced to take action. Add your name to this petition and show your support for this initiative.
You can make a difference. Future generations could be investment savvy and financially secure if change is made.
Please sign this petition for the sake of our children’s financial wellbeing; it will take less then two minutes of your time.
If you have anything you would like to add please leave your comments below.