The “E” in PSHE stands for Economic Education. This is all about managing money, aspirations, training and education, and career.
Money is the main theme of economic education. Children are taught what it is and how we have a choice to spend or to save. They are also shown how it is earned and that different jobs have different rates of pay.
Related to this is aspirations and education. Children have a choice of pathways they might take after school. Some of these, like a university education, lead to better prospects than others. It is important that children understand that the choices they make regarding their education will have consequences which affect their future careers.
Economic wellbeing is another aspect of economic education. There are many financial choices to be made in life: loans and debt, for example, and children must learn how to make informed decisions.
Finally we come to employment rights and responsibilities. The world of work can be a minefield. But there are rules which protect employees from exploitation and children need to know this. On the other hand, employment comes with responsibilities and children must recognise that thy are being paid to carry those out.
Managing money and getting on in the world of work and of education are vital skills which are not taught in mainstream lessons. That’s why economic education is so important. Money is a major part of life whether you like it or not so children need to understand how to stay in charge of their finances.
|What is Money – Age 5-7|