Okay, I’ve been really busy lately and sadly my blogging had to be put aside for a few days. Normal blogging service has now returned.

So to continue with my blogs on the subject of improving Social Education in Scottish schools I’m going to look at the issue of teaching personal finance.

Managing ones personal finances can be a complicated and daunting task. Debt in the UK is at record levels (with more debt than the country’s entire GDP for a year). Much of this debt is beyond the means of those who have borrowed it, especially if the economy takes a serious turn towards recession. Too many of us have been tempted with low interest rates to borrow and use credit cards far more than we would normally

Some younger people have no concept of how to manage money and the importance of budgeting (or even how to budget). This can only worsen the problems of Student associated debt. It is a sad day when the BBC creates a TV programme to assist people who have got too far into debt that they are struggling to get by and without urgent action are well on their way to bankruptcy. It is an even sadder day when the majority of people appearing on the programme are in their 20s!

How many people actually understand the workings of inflation and interest rates? How many know what APR or AER means? How many people know what an ISA is and how it could or could not benefit them? All of these things have are very important and people just don’t know what they mean?

It’s only socially just to teach our young adults how to budget and the basics of personal finance and how things will affect them before they leave school!

• Eductaion