A new study has revealed that an astonishing 53% of teachers admit they couldn't teach simple personal finance issues. The study, from Shares4Schools, found that one in five teachers struggle with personal finance questions themselves - so it's baffling as to how the government expects them to be able to teach the subject to children.
Shocking gaps in their knowledge included investments - as only 17% said they knew what the stock market was and only 16% understood dividends. Pensions were another worrying area - with just 28% able to explain what a pension is.
The percentage of teachers who would be comfortable explaining:
- What investing is: 45%
- What APR means: 36%
- How taxes work: 41%
- How a credit card works: 61%
- How a debit card works: 64%
- What the stock market is: 17%
- How a pension works: 28%
- How a mortgage works: 46%
- What a dividend is: 16%
- What an ISA is: 40%
- How a will works: 35%
Source:
www.money.aol.co.uk