Vicki Carr - Education Studies
School money lessons could improve financial outlook
Financial capability must be considered a core subject in its own right and a skill inseparable from all other life skills which supports the success of an individual's life
”Vicki is a final year student who has investigated the level of personal finance education given in a Derby secondary school, and attitudes to money among 13 and 14-year-olds.
Her report
Vicki conducted research for her independant studies that pre-empted a report issued by an all parliamentary committe of MPs. Her report found teenagers knew education on cash handling was important and wanted more - but that teachers have to find time to include this teaching amongst other competing pressures. She said "I have seen first-hand how a lack of knowledge and understanding of financial matters can lead adults to make poor financial decisions and end up with large overdrafts and debts, and personally I didn't receive any education on the subject at school."
Her research
During her studies, Vicki discovered that although the National Curriculum (2010) states that education should 'be relevant to children and prepare them for the here and now and for their future', all Government funding of personal finance education in schools was halted in 2011.
Vicki said "In the school I visited I found that teachers had a positive attitude towards financial awareness, but they do not have the support from the Government to provide it. And, as it is not a subject the school is measured on, it is not a priority for them."
Receiving recognition
After her research was brought to the attention of the 'ifs School of Finance' which has a role in educating people on personal finance, Vicki was invited to London to brief its Vice Principal, Rod McKee, on her work. She was then interviewed in its magazine.
"I am glad that my work has already been recognised and I am delighted to see this report highlighting the issue to Government ministers. I feel very strongly that personal finance education needs to be an important part of the curriculum," she added. "Financial capability must be considered a core subject in its own right and a skill inseparable from all other life skills which supports the success of an individual's life."
