Young people can be entrepreneurs overnight and earn a lot of money through the network of influencers and a multitude of new era jobs.
Yet financial education in schools seems stuck in the same place it was 40 years ago…
That is to say, it is non-existent.
A fear of finance, passed on from generation to generation, without anyone intervening or explaining the facts from the myths, has proven to be very dangerous.
Topics such as payslips, debt and pensions are not only interesting and relevant, but essential. If you don’t know what a payslip should look like, how will you know if yours is correct? If you don’t know the value of work, how will you rate yours when it comes to pushing for that promotion?
With financial education, we can begin to close the gender pay gap. The next generation can be empowered to tackle everything from the basics to the big stuff with confidence. Teaching the women of today about the salary they should be getting and the benefits of things like pensions can have a massive positive impact on the women of tomorrow.
All male, female or non-binary students must be part of the solution to eradicate the gender pay gap. We all need to be on an equal footing when it comes to financial literacy. What does it mean to budget for an uncertain future, is it possible that the state pension no longer exists when they reach retirement? Why don’t we talk about that now.
100 years. This is the statistic of how long it will take to eradicate the gender pay gap. A lack of financial knowledge will only amplify this. If you are afraid – or deprived of – exploring your financial rights and educational opportunities, how can you begin to fight against such an unfair situation?
A finance education, taught by qualified professionals with a passion for helping others understand the world of numbers, could help bridge that gap sooner. And while implementing financial education is only part of a complex puzzle, it could provide positive externalities across generations.
Elent is a financial education platform that provides up-to-date and relevant financial education to students in your schools. We won’t hide any questions and leave your students empowered.
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