There is no doubt that school is one of the major influences on children growing up. While home life obviously plays a huge part in shaping their development into adulthood, the lessons learnt at school also play a key part. With this in mind, the current burning question around child education is whether it is preparing them adequately for working life when they leave. While there is no question that the academic nature of school is well catered for, many wonder if more practical lessons are being missed out on.
A rather alarming statistic for the UK Government in this area is that six out of ten parents were not satisfied when a study was conducted by the Young Enterprise charity recently. The parents surveyed criticised the current education system for not being entrepreneurial enough and not giving children satisfactory lessons on business enterprise for when they begin work.
Financial education is essential
This issue of teaching children how to be more entrepreneurial seems to be at the centre of the matter for parents. Entrepreneurs and the businesses that they start are at the very heart of the UK economy, so it makes perfect sense to be devoting more time to this aspect of children’s education.
Within a greater drive for more lessons on business enterprise, the subject of financial education is of paramount importance. If you can really grasp the issues around financial education from a young age, then you are more likely to grow into a savvy saver and be better at money management.
This is great not only on a personal level for your kids becoming adults, but also if they go on to run their own business. Looking after the financial side is crucial for any business success, and this is why you may feel that children should be taught more around this subject in schools.
Financial sense and entrepreneurial spirit are a great mix
Even if pupils do not go on to run their own business, being encouraged to think entrepreneurially at school and develop good financial sense is essential. This is a great mixture to help them not only develop as people but also prepare them for working life better.
With this potent blend of personal traits, a whole world of employment opportunity will open up to them. A strong entrepreneurial spirit and firm grasp of financial principles could open up a career as an investor or trader. Forex trading, for example, is a lucrative modern occupation growing in popularity, but a lacking financial and entrepreneurial education will not arm young adults with the savviness required to avoid Forex scam artists. The high risk factor of working in the financial sector combined with the potential impact that failings can have on the wider economy should demand a greater emphasis on business enterprise and financial matters at school.
Superb for personal development
While financial education is actually already a part of the national curriculum at secondary school, many teachers felt that what is being taught was lacking in real-world applications. This seems certain to be addressed soon as business skills and financial education are amazing for pupils’ personal development.
Being taught these kinds of basics has been shown to enhance their confidence as they grow and make them much better prepared to move into working life. It will allow them to become a fully rounded adult who is much better placed to forge a successful career due to the personal development this allows.
Even if it is as simple as knowing to save some of their wages every month for later life, financial education can really help them grow. With attitudes towards money being formed by the age of seven, it may also be time to start teaching primary school children the same lessons.
Will change come for future generations?
With many teachers starting to express concerns around this area as well as parents, you may well see some change in the near future. Although everyone still sees the value of academic achievement, other factors such as business enterprise, work experience and financial education are becoming just as needed.
Financial education in particular will allow young people to be better prepared to move into working life and also make better choices for their future. With personal debt on the rise and many workers currently not saving for later life, education in this area is much needed to help the next generation avoid these mistakes.