Teaching children about money
Business Daily
BBC
4.4 • 796 Ratings
🗓️ 16 February 2021
⏱️ 18 minutes
🧾️ Download transcript
Summary
Though children will usually learn how to add, subtract or multiply in school, very often they are not taught the skills they need to manage their money in older life. We’ll hear from children around the world about their understanding of, and relationship with, money. Then, Lily Lapenna MBE, of MyBnk, describes her decades long campaign to improve financial education in UK schools, and how a gap still remains between boys and girls in financial literacy. Eddie Behringer, CEO of the fintech firm Copper, explains how their bank accounts for teenagers can help build skills from early on. And Dhruti Shah, author of the illustrated business dictionary Bear Markets and Beyond, recounts how she wishes she’d realised sooner just how much finance and business would factor in her life, and how a basic business vocabulary can help you understand your world better.
(Image credit: Getty Images)
Transcript
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| 0:00.0 | Hello, I'm Tamerson Ford. Welcome to Business Daily from the BBC. Today, we're talking about money |
| 0:08.0 | and young people. As we get into adulthood, we engage with money every day many times, and yet |
| 0:14.7 | nobody sets us up for that relationship. How much does the next generation really know about the |
| 0:20.3 | world of finance? I don't think that my |
| 0:23.0 | schools taught me a lot about my financial security. At school, we learn a little bit about money |
| 0:29.8 | and how we use it in the real world. I don't know anything about finances. We speak to young people |
| 0:36.3 | from all over the world about how much they know |
| 0:39.1 | or don't know about money and find out what's being done to change that. That's all in Business |
| 0:45.0 | Daily from the BBC. At school, you could have given me a question on algebra, geometry or even calculus, |
| 0:57.4 | and I would have probably given you a pretty good answer. |
| 1:00.6 | Yet, if you would have asked me to define APR, for example, |
| 1:05.2 | or explain the difference between a bond and a share, |
| 1:09.2 | I really wouldn't have had a clue. Things have improved |
| 1:13.7 | over the last few decades since I was at school, but have they improved enough? Let's find out. |
| 1:21.0 | Hi, my name is Jake Gupta and I'm 10 years old and I live in Mumbai. I don't think that my |
| 1:27.1 | schools taught me a lot about my financial security. |
| 1:31.2 | They've only taught me about numbers and counting all that. |
| 1:34.1 | But my parents, they've told me that I need to wait for some things |
| 1:38.6 | and some things can be really expensive. |
| 1:41.3 | Because some people around the world, they spend them money on just things for entertainment |
| 1:45.8 | which is good but not too too much my name is ilan i'm 14 years old i live in i've very |
| 1:54.0 | cost i don't know anything about finances i don't learn that at school. |
... |
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