Get rid of religious education in school and start teaching courses like this. Financial literacy.Personally I think these types of courses should be available free, run in conjunction with MABS. They have an education function, but don't appear to be anything similar to this and really do not understand why...
https://www.mabs.ie/en/how_we_help/education/
Get rid of religious education in school and start teaching courses like this. Financial literacy.
And for the record, I made my feelings on religious education in schools and religious ownership of schools known during the consultation process on the matter, about a year ago. Sightly off topic, I know, but just wanted to make that point in case people think I am defending them.Get rid of religious education in school
I don't understand why things like tax or interest rates are not taught. We should be teaching children about how to work out what happens if they take out debt and how it costs. Should show them how through education and training they can earn more so they can afford holidays etc
You may laugh, and you are probably right given the current focus on personal finance in Ireland. We have no issue/surprise doing the ante-natal course about what to expect when we go to hospital, or a number of other things around that time. Personally I would also include infant first aid in it also !Gnf i'm laughimg at the thoughts of having to do such a module to access the first children's allowance! There could be a few more modules introduced at that time - how to get the child to sleep for beginners!!
Or concepts like striving to repay one’s mortgage early.
Killing off a mortgage of €2k a month typically gives someone the flexibility to sacrifice income of €50k a year through working a shorter week, consulting etc.
That’s serious freedom.
Just when the thirty/ forty something on hear are about to retire early the government start running out of money ,I suspect taxes will have to be put on all of the houses with no mortgages and anything that cannot be moved overseas will be taxed if not taken out in time,
I always thought that it should be taught in schools. But think back to the first episode, it was a business teacher.
Very valid points here - most teachers I know are not very good with money. They also have no concept on how much it would cost to fund their pension etc.I would also agree with the point above - many teachers I know would not be my idea of role models for financial advice.
I would have thought this was more basic career guidance! That said I imagine that is also non-existent in most schools still. Career guidance in my day was - are you going to the Ag College? If not, there are a list of prospectuses in the office if you want to have a look before filling out your CAO form..Should show them how through education and training they can earn more so they can afford holidays etc
Absolutely 100% !Look there's a lot of talk on here about teaching children financial literacy either in schools but let's be honest here, children learn how to behave with money from their parents.
To be fair, we need to stop blaming the church for what is happening in the schools. They may run them from an admin point of view, but the department are the ones that sets the curriculum. Currently there are modules of financial literacy included in subjects such as business organisation (or whatever its called now), but would make more sense to me a module in the Transition Year programme, if it belongs anywhere in second level.
In my personal view, it does not belong in secondary school - as financial literacy means very little to those not earning a proper salary. Personally, I would have it as a mandatory course (potentially different modules/focus) which should be triggered at various events in a persons life (either linked to Revenue or Social Welfare), for example:
- first job, as a precondition to being issued the personal tax credit
- first time being self-employed - similarly precondition to earned income credit
- signing onto social welfare for the first time
- availing of joint assessment tax assessment for the first time (and if you go back to single assessment afterwards)
- availing of children's allowance for the first time
- setting up a pension for the first time
- drawing down your pension for the first time
- availing of any tax break associated to a mortgage facility
Would everyone learn something from it - yeah probably. Would a few wise souls on AAM get frustrated by having to attend it - yeah maybe, but in the grand scheme of things it would be beneficial to everyone. We all have to sit a driver theory test, do the required number of lessons, sit the driving test etc - this is just something similar but from a financial point of view.
I think the State needs to stop trying to outsource its responsibilities to others, whether it be charities, church or ANO. The state should 'man up' and recognise too many citizens in the country are not financially literate enough, and actually go do something about it.
To my mind, financial literacy should be included in schooling from primary up (post-school I think that your suggested education points would also be worth exploring, whether mandated or optional). I think starting in secondary school is too late, and including it in a specialist subject is too narrow. I would see it being included by means of a continuous age-appropriate curriculum similar to the Stay Safe programme.
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