Learning about Finance in Schools

Guest blogger – Jodie Harris
June 2023 • 2 min read

Learning about Finance in Schools

For the past week we’ve had an extra helping hand at Solomon’s headquarters, due to college student Jodie, who has been doing her work experience with us. During her time with us, she has been creating market research for both her college (and us!), by gathering data on what adults (with financial experience) wish they had been taught in schools. Our working assumption is that things like borrowing, interest rates, pensions and budgeting are likely to be the top-of-mind topics, but of course we may be surprised by the responses… Over to Jodie –

I have been assigned a really interesting project to research and evaluate how people feel about ‘learning about finance’ whilst at school.

We have put together a questionnaire to get opinions around this and following the analysis of the data we collect, we intend to report the results on the Solomon’s website and send a copy to local schools and the media, and potentially our MP and the Department of Education.

Please could I ask you to give up two minutes of your time to answer the short questionnaire for me so that this project is meaningful and worthwhile – I would be very grateful for this!

Thanks, Jodie

CLICK FOR EDUCATIONAL SURVEY

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Learning about Finance in SchoolsJemima Thomas2025-01-23T10:55:11+00:00

Captain Fantastic

Solomons-financial-advisor-wimbledon-blogger

Captain Fantastic

The new movie Captain Fantastic won’t be everyone’s proverbial “cup of tea” but it is perhaps one of the better movies that I have seen over the last few months. In essence it is the challenge that we all face, (not merely parents) about how to carve out a life worth living from the plethora of choices that exist.

In the film, a couple (Ben and Trin) decide to go “off grid” to educate their children in the things that they believe to be truly important. There is much to their credit, not least of which is the relationships that they build between each other. Of course not all the decisions are wise, sometimes getting lucky, narrowly avoiding disaster. Their choices are grounded in beliefs, naturally rather leftist and alternative to the mainstream, but are a welcome and timely reminder that the status quo or indeed the general culture of the day, clearly hasn’t really achieved its promises, which often seem as empty as the off casts and refuse that at best, are redirected to landfill. This is a vivid reflection of the tension within the American dream, though of course, could equally be a British one.

Values, norms and challenges

This is not a comfortable watch, there are a plethora of challenges, notably the physical endurance challenges that the children face, but also our own cultural comforts and inability to face some of the glaring facts of modern, or post-modern life. One cannot help but admire the comprehension, creativity and engaged accomplishment achieved by all the children, albeit without the context of wider “socialisation”.

I’m not giving anything away by outlining a plot which centres around Ben, (Captain Fantastic) trying to look after his children following the death of their mother. Cultural values collide within the wider family leading to the inevitable flashpoint. Whatever you think of Ben’s methods or values (played by Viggo Mortensen – you may know from Lord of the Rings) there is a very moving penultimate scene in which he provides some parting words as he “blesses” his son Bo (George MacKay). Words that perhaps we all long to hear.

So, as ever, this prompted me to consider the choices we (ok…. I) make all the time. Invariably clients want to protect the lifestyle that they have, but perhaps it is worth pausing to reflect if this is really what you want. We all tend to live within what is familiar and shy away from giving ourselves too much creative leeway to construct a life that may look and feel considerably different from the one we currently live. I’m not passing any value judgement, merely reminding you (and myself) to pause to consider if we are conforming to expectations rather than forming them.

Here’s the trailer, the film is officially released on Friday 9th September. The American “child actors” are typically brilliant, but 24 year-old London born George MacKay is exceptional and certainly has a very bright future as an actor and continues to make some very sensible role choices.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk

Captain FantasticDominic2023-12-01T12:19:12+00:00

Those overpaid teachers….

Those overpaid teachers…

This is an item I came across online that amused me and felt it should be reproduced. I imagine and hope that all of us can remember at least one inspirational teacher, probably rather more. As in all things, people are people and some are far better at their work than others. No single profession or group are all good or all bad. However I have come to deeply respect teachers over the years and they have had more than their fair share of mountains to climb. So here is a piece that I am reposting in response to criticism that is seriously misplaced.

Are you sick of highly paid teachers?

Teachers’ hefty salaries are driving up taxes, and they only work 9 or 10 months a year! It’s time we put things in perspective and pay them for what they do -babysit! We can get that for less than minimum wage. That’s right. Let’s give them £5.93 an hour and only the hours they work; not any of that silly planning time, or any time they spend before or after school. That would be £41.51 a day (8.30 am to 3:30 PM with 30 min. off for lunch and play –that equals 7 1/2 hours).

Babysitting Service

Each parent could pay £41.51 a day for these teachers to babysit their children. Now how many children do they teach in a day…32? So that’s £41.51 x 32 = £1328.32 a day. However, remember they only work 180 days a year!!! I am not going to pay them for any holidays .LET’S SEE…. That’s £1328.32 X 180= £239,097.60 per year.

Hold on! My calculator needs new batteries. What about those special education teachers and the ones with Master’s degrees? Well, we could pay them minimum wage (£6.90), and just to be fair, round it off to £7.00 an hour. That would be £7.00 X 7 1/2 hours X 32 children X 180 days = £302,400.00 per year. Wait a minute –there’s something wrong here! There sure is! The average teacher’s salary (nationwide) is £25,000.00/180 days = £138.90 per day/ 32 children = £4.34 / 7 1/2 hours = £0.58 per hour per student–a very inexpensive babysitter and they even EDUCATE your kids!) WHAT A DEAL!!!!

(from a post online)

In support of teachers

Whilst it is true that teachers have half-term and end of term breaks. It is grossly unfair and misleading to assume that they have lots of time off. The increased testing and micro management implemented over the years by successive “we know best” Governments has essentially replaced a lot of teaching with a lot of form filling. Something that the bueracrats are attempting to introduce everywhere with their obsession about “outcomes”.

The reposted story above assumes a very unusual day. I am unhappy to report that I know a great many teachers who work at least 12 hours a day often 6 days a week. They are exhausted. This is the experience from top to bottom across the age spectrum.

I appreciate that the reposted story is only one way of considering the numbers. There are many costs in running a school, not simply the cost of each teacher.

Let me pose a question. If we actually believe the experts who tell us that the formative years are the most important to “personhood” which has a life-long impact on citizenship, the ability to be part of a community that thinks and acts beyond self; shouldn’t we be investing in children and those that inspire and encourage them for the greater good. After all, these children will grow up to one day govern, pose and vote on laws about social policy, including whether you are cared for or dispatched early to make way for the new (which makes more “economic sense”).

Of course the same could be said of many aspects of our “State employees” – doctors, nurses, firemen, police and so on. The constant undervaluing and bogus attempts to apply market values to everything is utterly flawed.

Dominic Thomas
Solomons IFA

Those overpaid teachers….Dominic2025-01-23T10:56:16+00:00