Financial Education – A Global Perspective

Continuing the social, economic and political development in the last five years has the capacity financial need among young people is even more pressing. In many counties west of the issues surrounding the increasing levels of personal debt, crashing markets and market effects on pensions means that more people need to take a more active and informed role in their financial future.

This article focuses on various initiatives to teach children money around the world.

In South Africa, Save the Children Learning (RTT) is an initiative of one day aims to highlight the importance of teaching the youth of the country to save money. Project objectives include:

To raise awareness about the benefits of savings financial planning and promoting a savings culture. To demonstrate the important role the financial services sector can play in creating a financially literate nation. To run a national program to promote a collaborative effort by industry to increase financial literacy.

Teach children to save South Africa (RTT AG) started saving months in July July 25, 2008. That day, volunteer bankers and financial professionals have become masters for a day and one hour of instruction delivered to students in classes 4-7 Savings. This pilot initiative has laid the groundwork for an annual event that highlights the important role that financial service providers can play in educating the youth of the country to save. While inspired by the U.S. program, RTT AG is set to align the culture of South Africa, the need for financial education and curricula, in particular, economic management sciences.

Scotland was the first part of the UK published a guide for schools in this area, in 1999 Learning and Teaching Scotland, published financial education in schools Scotland – a status report. This document describes money management is "one of the daily life most important and difficult" to describe a minimum charge curricula. Its objectives are to young to understand the main ideas of economic and financial control in managing their financial affairs Recognize the importance of using Financial resources responsibly and be able to operate with confidence and enterprising way.

The Scottish scheme under the program for excellence 18.3 based on the hope that every teacher is a teacher of numeracy, literacy, health and welfare. A thematic issue within / It is suggested that schools can adapt to their needs. The four main elements of financial education in Scotland as: financial understanding, financial competence, responsibility for financial firms and non-financial

An Australian report, "Financial Literacy – Australians understanding money," found that young are particularly interested in learning more about issues such as budgeting, saving, debt management and avoid financial scams.
Australian schools have established an agreement national framework that provides an integrated program of the Cross for all students from kindergarten to grade 10.

Consumer and financial education is integrated into the curriculum through English, math, science, humanities – (business, trade, economy, technology and enterprise) Civics and citizenship and ICT. This will allow all Australian students in their years of compulsory schooling, to develop knowledge and understanding, skills and values of consumers and financial education.

An example of a Chinese approach to financial education is a theater program for children between 8 and 12 years in the cities of Beijing, Shanghai, Guangzhou and Shenzhen.

The program is based on a comic book titled "Agent Penny and Will Power in Operation Finance". The scenes are based on stories of everyday life and students are usually used with tools and financial concepts, including budgeting and compound interest, and training of financial habits.

According to the timetable, the Cheeky Monkey Theater, presents itself as the world leader in the Theater Chinglish " visit between 40 and 50 schools in Beijing, Shanghai, Guangzhou and Shenzhen in the next ten months, and part of this should be seen by nearly 20,000 children.

In summary, education funding is considered in many countries as a key competence. The financial world is characterized by a wide range of choice and often very complex, and as consumers we should all take advantage of this dynamic environment. Youth are targeted as consumers, to a younger age and may have to face complex decisions financial. In 18 years, is likely to have access to credit and loans in a way would have been unthinkable 20 years ago. To provide young people with good skills in financial education can make a responsible attitude and good habits from an early age. It helps foster a sense of money management that can improve long-term financial security lifestyle.

About the Author

Daniel Britton is a writer and educator specialising in financial literacy and enterprise. His latest book of Financial Fairy Tales
teaches children about money
through fun and engaging stories with positive messages about money and life. Please visit his website
Live2Learn
for more information.

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