Financial education is faltering – we find out why

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Iona Bain

THE Coalition Government’s plans to make money lessons compulsory in England come four years after the Scottish Government vowed to build a curriculum that would instil some financial wisdom in younger generations.

Financial education has been part of the Scottish curriculum since 2008, but the pioneering scheme that delivers workshops to 15,000 young Scots is now under threat due to a lack of funding, while another key provider warns that many teachers lack the time and ability to champion the subject.

The Stewart Ivory Foundation is among several programmes that provides financial education throughout Scotland, but one of the few not controlled by a financial institution.

The charity recruits volunteers from the financial sector to talk to sixth-year students over a number of sessions, rather than passing the buck to teachers.

But it will run out of money in July 2014 unless the Government steps in. Chairman Hamish Buchan said: “If we’re really committed to personal finance education in schools it needs to be properly state-funded and treated as a subject in its own right.”


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