School pupils in the north-east will be taught how mortgages, credit cards and interest rates work in a series of new lessons designed to halt the rise of debt problems faced by young across the country.
Solicitor and estate agent firm Aberdein Considine has joined forces with the charity Tech Fest to pioneer “Maths Into Finance” sessions across Aberdeen, Glasgow, Edinburgh and Perth.
According to a recent survey by the advice charity National Debtline, more than one third of 18 to 24-year-olds have debts of almost £3,000 and experience significant concerns about money.
The new educational scheme was designed to address one of the key recommendations of the report, which said that one solution to the growing crisis was “earlier and more coordinated financial education.”
The secondary pupils attending the classes will be given lessons on domestic budgeting, pensions, how tax works and managing debt.
Alan Cumming, national estate agency director at Aberdein Considine, said: “As a firm of financial advisers, estate agents and lawyers, we have seen the impact bad financial decisions can have on young people, sometimes burdening them with a lifetime of debt before they even reach their 30s.
“This has been recognised by the Scottish Government, and financial education has been part of the curriculum since 2008.
“We are delighted to be adding our practical experiences of financial matters to these lessons and showing youngsters how maths is applied to everyday life.”
The lessons, which will be financed by Aberdein Considine, will take place in November, with some in Aberdeen Town and County Hall.
Sarah Chew, managing director of TechFest, said: “TechFest is delighted to be working with Aberdein Considine on this new programme that aims to ensure students have access to important financial information that not only links to their curriculum, but also important life skills.
“Our aim to promote science, technology engineering and maths allows us to design, develop and deliver some of the most exciting events and initiatives across Scotland.
“Maths Into Finance we hope will have a long and prosperous future and we look forward to working with Aberdein Considine and their team as we deliver this programme across Scotland.”
