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73% of young people seek mortgage advice at school


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After nearly two years of disruption to schools, high school students seem to be re-evaluating their education. Apparently, they want to see some change. For example, students want more opportunities to learn about money management and mortgages.

Youth-led social enterprise surveys conscious youth 10 to 18 years of age about their learning experiences during an epidemic. When asked what they would like to explore next, young people express that mental health is their top priority, second only to personal money.

About 73% of young people think they will leave school without a clear understanding of mortgage and money.

Did the kids learn about mortgages at school?

Disappointingly, according to the Money and Pension Service, more than one-third of school students miss out on financial education at school. However, this does not mean that money is not already in the curriculum. In fact, the subject of money is frequently seen in math lessons and math homework. It’s usually more from a work and business perspective, admittedly.

Perhaps it is because teachers are more concerned about helping their students get better paying jobs. After all, it’s hard to get a mortgage without a decent income.

In addition, students may not see mathematical problems as relevant to their own lives, even if they point directly to meaning. For example, the GCSE math syllabus contains simple and compound interest. There is no doubt that this education can be applied to mortgages, loans and savings but the education can be focused on passing the test.

Similarly, education in history, sociology, geography and business studies touches on the role of money in society. Again, this is not practical but academic.

Fortunately, money and mortgages are also featured as part of the personal and social development curriculum. This is where students can learn in a more person-centered and active way. However, the provision of financial management education outside of the academic curriculum will vary across schools, and the focus on this subject may only be occasional.

Why do young people want to know about mortgages?

Conscious youth have noticed that young people are interested in learning more practical and life skills in school. In addition, they want to emphasize their education in a fair society by teaching more about black history, human rights, personal relationships, LGBTQ + rights and the law.

Preparing for life as an adult is a priority, and learning about mortgage fits it. It is clear that high school students expect to increase their chances during their time in class. Education is less important in one’s own interest. Students know that managing their finances and paying for a home through a mortgage can be the key to their security in adulthood.

Sophie Simpson, co-founder and CEO of Conscious Youth, says: “The world has changed dramatically, and the problems young people face are different from when I was in school. It is more important than ever to ensure that they are equipped with the right knowledge and skills to succeed in the future. ”

Do mortgages really need to be in the curriculum?

Owners-occupants, with or without mortgages, make up more than 60% of households in the UK While the average age of a first-time buyer is 32, it is reasonable to assume that young people do not need specific mortgage advice. For many, renting is the only option. The type of housing options they can expect and how much money they have to save and earn is relevant to them.

The UK Strategy for Financial Rehabilitation is a 10-year plan aimed at ensuring that two million more students and young people receive a meaningful financial education. Government agencies and young people are on the same page, calling for the improvement of financial education

How can money management be taught in school?

While most school students missed their teachers and friends during the lockdown, some found learning at home useful. A survey of conscious youth found that more than a third of students want to see a combination of education at home and in the classroom in the future. Personal financial education, including mortgages, savings and investments, is remotely distributed and is already available online.

Families have a role to play in providing financial education. Can’t expect to have all the answers from school. A great place to start encouraging saving habits. However, while some households have chaotic financial management, others are adept at saving and investing. Perhaps schools should start playing a role in tackling these financial inequalities.

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