Scottish schools are being encouraged to teach children about managing their
money through a new curriculum resource.
The document, Financial Education: A guide for teachers and managers, is
being handed to headteachers this week to provide additional guidance on how
financial education can be embedded in the new curriculum for excellence
(CfE).
It means children as young as three may be taught about managing their future
finances, as CfE applies to early-years education through to secondary
school.
The resource, published by Glasgow City Council in conjunction with
government body Education Scotland, is being launched in schools within the
local authority’s area. The council said it is happy to make the guide available
to other councils if requested.
It highlights the importance of managing money and aims to teach children
about “the pitfalls” of spending more money than they can afford. Suggested
learning experiences include investigating mobile phone contracts, organising a
bring-and-buy sale and keeping a record of weekly finances using a
spreadsheet.
Bailie Jean McFadden, an executive member for education at the council, said
schools are the ideal place to teach youngsters how to make informed financial
decisions in the future. “You are never too young to learn about the importance
of money,” she said.
“Financial exclusion is both a symptom and a cause of poverty and has a
direct effect on the economic and social exclusion of Glasgow’s most vulnerable
citizens. Recent estimates show that Glasgow has a far higher rate of severe
child poverty than elsewhere in Scotland.
“Our schools have a responsibility to develop a preventative approach to
financial exclusion and we will do this in partnership with local community
support agencies. The new resource is a planned and coherent programme that sets
out the importance of managing money and avoiding the pitfalls of spending more
than you can afford.”
Glasgow City Council said the economic crisis means financial education has
never been so important for youngsters. It said the aim is to help its young
people get better at keeping track of their own finances as well as highlighting
the importance of making ends meet.
Jim Lally, director of the Scottish Centre for Financial Education, said:
“Education Scotland has welcomed the opportunity to work with the council in
supporting financial education through the publication of the new guide for
teachers and managers.”
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