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Teaching the kids the cost of living

As we have covered on numerous occasions, we teach children how to cook, about religion, maths, english and other vital skills at school but we do not teach them the cost of living and how to budget when they are older. This is one of the major failings of the UK education system, and something which is prominent on the continent as well. We need to teach children the cost of living, how to budget, how expenses should be controlled and ultimately how to live within their means.

One of the major problems we will have is the fact that the last decade has seen consumer debt mushroom to levels never seen before and many younger children are growing up in an environment where they want for nothing. In many ways we need to return to basics and let children and young adults see the value of money and feel the value of money. Until they appreciate that not everything is possible they will never be able to value money and understand how to use it.

How many children leave school knowing the cost of a pint of milk? How many children leave school knowing about insuring a home? The truth is that many young adults in the UK leave school, college or university totally unequipped for life on the outside.

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