Why I... teach children about money
"When a child has had no exposure to education about finance, their life choices are taken away"
I didn’t plan to be a teacher or a financial adviser but, somehow, I have ended up as both.
You never know where a conversation might go and, through several different parts of my life, I have had people suggest to me that I go into local schools and charities to help the children understand more about money.
Children have often formed opinions and values on money by the time they’re six. So, like with food and exercise; it’s important to start good habits at a young age and they’ll grow with you.
Sometimes it’s like herding cats. I arrived at one workshop in my keep-fit gear because I knew they were expecting somebody in a suit and who they wouldn’t be able to relate to. I got them to talk about how being an adult also means you’re responsible for your money and we talked about the impact of debt.
I always ask my students to start a life plan, including marriage, jobs and kids – and then talk about what they need to do to make it happen.
There’s a big degree of difference between one child and the next. In one session, I had two lads talking about investing and owning an Aston Martin and then I had one girl in the same room that I felt I had completely lost. It felt like I had I failed because my job is to engage everybody in the room.
Schools budgets are stripped back so the fundamental curriculum is deemed more important than somebody coming in and having a chat about finances. This is why it’s so important for people who have qualifications to go out and talk to our young people wherever they can.
When a child has had no exposure to education or information about finance, their life choices are taken away. They won’t realise, for example, the impact of not paying their rent. They won’t think about how it could affect their credit in the future when they need a mortgage.
I adore what I do. It has an impact on people’s lives. I love the “Aha!” moments. That often means “I didn’t know that’s what that stood for!” or “I didn’t know what a pension was!”. My students are in a forum where they can say that. It’s a safe space. I’m not going to judge them.