West Financial Management
‘Young people need to understand that parents do not have a money tree. I’ve spent time in Nepal, where children have a far more responsible attitude towards money. They don’t see money as theirs; it’s something their parents look after.
‘Children need to understand the financial implications of the career choices they make while at school. Moving towards working in a highly paid profession will have huge ramifications on their long-term financial future.
‘We need to teach the power of compound interest. In saving, it’s a means of building money and when applied to debt it can be damaging. Compound growth is taught in maths classes and, by linking it to finance, we would provide children with the tools to manage their financial futures better.’