This weekend may look rainy, but it’s a perfect excuse for enjoying a lazy Saturday morning tomorrow... but first, keep that brain wired by catching up on the latest in this week’s children’s finance news.
The time has come, ladies and gents. On Wednesday, The Department of Education released details of this year’s national curriculum, which will include financial education in mathematics and citizenship education taught in secondary schools. The is the first time ‘financial mathematics’ will be emphasised in course curriculum, and will include solving problems involving percentage change and simple interest. The ‘financial decisions in citizenship’ courses will teach children about the functions of money, importance of budgeting, and managing risk. It will also teach the essentials of credit and debt, insurance, savings and pensions, and how public money is raised and spent. Certainly a step in the right direction! You can find full details about the new curriculum here.
That’s exactly what 9-year-old (yes, 9!) Alexandra Jordan did after creating ‘Super Fun Kid Time,’ an app designed to schedule kids’ play dates. Alexandra created the game ‘Disrupt Hackathon,’ which took place last weekend on San Francisco. She is currently learning to program in Ruby and HTML with assistance from her dad and the online site that teaches you to code, Codecademy. Young coders, take note. In the meantime, you can check out Alexandra’s app here.
The Guardian’s Tim Lott certainly thinks so. After the insurance company revealed the average weekly pocket money given to children being around £13.12 a week, Lott admitted his own children hardly receive more than half that. His youngest, seven, only received £1.50 a week. ‘The trouble is, without wishing to be disrespectful to children, they do not always make the wisest financial investments,’ said Lott. We’re not sure we agree with Mr Lott. We’ve found (and we’re sure you agree) that with the right structure and support in place, children can be empowered to make wise and responsible decisions about earning, saving and spending. The problem isn’t inherent in children; it’s just that they need to be encouraged, supported and empowered and then they do make wise decisions. Anyway, we’re preaching to the converted on this one!