This World Youth Skills Day (Sunday 15th July), we’re championing the idea of school children being taught practical life skills, such as the importance of managing money, saving a deposit and how to secure a mortgage.
Our opinion comes on the back of a recent report by the Resolution Foundation, which suggests that one in three millennials will never own their own home.
House ownership levels are lower than they’ve ever been, with many young people believing that they’ll never even step foot on the ladder.
Debt issues are simultaneously on the rise – Citizens Advice reported a 21% increase in 2018 on the previous 12 months, for example.
Therefore, there needs to be a change in the way that we, as a nation, perceive money. And we think that the best method of achieving that is by teaching children the value and importance of it, from a young age.
Teenagers should pick up these practical skills in maths lessons – such as how to build a credit rating and avoid getting into debt.
This would give them the right mindset when entering the ‘real world’ and help them to make better financial choices throughout their early adulthood. Many children learn about money from their parents, but if their parents have bad financial management, then they may face the same difficulties.
In instances where teachers are not qualified to teach on the subject, external parties could be brought in to support their training – much like what would happen in a specialist PE lesson. It’s all about giving them confidence and understanding to make sound decisions.
Do you agree?
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