Education And Poor Money Management In Britain

The amount the British public spend has steadily grown in recent times

, but who is to blame? More and more Brits are relying on endless sources of income to get their next spending-fix, which is undoubtedly due to the 'throw-away' Western philosophy we have come to rely upon. But it's equally fair to say that money lenders and store-card operators also have a part to play, by allowing almost anyone to get their hands on credit and loans without adequately checking the individual's money management skills.

Today, from an early age, children are not taught to respect the value of money, with Christmas' and birthdays dominated by expensive games consoles and computers. Growing children believe they automatically have the right to expensive, luxury goods, and thus do not understand the importance of spending wisely or saving for 'rainy days'.

Adults also have a rough time thanks to the retail sector's constant bombardment of the latest 'must-have' products. With everything on the high street labelled as the latest 'must-have' buy, adults find themselves competing to own the best of everything, whether it's the latest laptop or the latest designer clothing. This only leads to the image of success being placed on material goods rather than on morality or hard-work.

On the other hand, with the recent economic downturn it can't be denied that Brits are having to learn better money management skills. Pounds stores, charity shops, compare websites and vouchers/coupons are some of the recent growing trends in the UK, showing us that there is a definite increase in frugal spenders.

However, the state of British money management is unlikely to improve until emphasis is taken off superficial success. Only once children learn from an early age the true value of good money management, and money lenders limit who they lend to, can our nation once again be considered to have good money management skills.

by: Deb Teller

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