Why personal finance should be part of school curriculum

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Pupils at Willamwood High School attend a math class on February 5, 2010 in Glasgow, Scotland. As the UK gears up for one of the most hotly contested general elections in recent history it is expected that that the economy, immigration, the NHS and education are likely to form the basis of many of the debates.
Over the decades that I have been asked by people about their personal finances, I have never ceased to be amazed by the abysmal level of knowledge that they have about this subject. People who have worked successfully at their professions for years and have deep skills and competence in their chosen vocation, have no idea how investments, insurance and even banking works.

One typical pattern is of successful people earning crores of rupees in their careers, and investing it all in real estate. Now, as they near the end of their working life, some of them are realising that if at all there ever was any logic in this kind of financial management, it certainly isn’t there now.

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