Mortgages

Morgan O’Connell’s money column: Finance lessons for kids would help them budget money while growing up


I’m a strong advocate for financial education with the goal of improving financial capability, which is the ability to manage, save, discuss and become more resilient with money.

It is a huge missed opportunity in this country that there is not a standard module in secondary school or indeed at third level, to educate younger people on how to manage money, tax, insurance, savings, pensions and investments. Some of us manage it badly when we are finally left to our own devices, but we would be forgiven for this, as we never learned about it growing up.



So, I was glad to read of two financial education and awareness initiatives that are currently ongoing in Ireland.

Money Quiz

There is a European-wide money quiz, going since 2018, which is giving financial education for young people a more prominent platform. This quiz is done online and it pits 13–15-year-old students in Ireland’s schools against each other and ultimately against those from 28 other countries. The winners are brought to Brussels in May to take on the rest and be in with a chance to win €5,000 for their school.

If you fancy your chances, you can even take a quiz yourself on the site www.ebf.eu.

This initiative of the Banking and Payments Federation and the Business Studies Teachers Association of Ireland is now encouraging schools to enter the competition. Good luck to all students.



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