First Prize in Young Writers’ Competition
Dominic Walsh in Year 11 has won first prize in an annual Young Writers’ competition run by Baillie Gifford and the Financial Mail. The competition aims to engage young people with financial issues.
Dominic won first prize in the 13-15 year old age group. Entrants were asked to respond to the question: ‘Who should be responsible for teaching you about personal finance?' Judges were looking for relevance and sound argument. They were also looking for evidence that the entrants had carried out their own research. Dominic won an iPad 2 for himself and £1000 for the school.
In his essay Dominic says that families, the media and financial institutions can help with our personal finance education but what is needed is a well planned and well executed personal finance curriculum in all schools.
Dominic suggests, "Activities could be running a tuck shop, running a school bank, charity fundraising and Dragon's Den and Young Apprentice type scenarios. Some pupils could run portions of a school budget for specific projects, set up mini businesses and follow the Stock Market in theoretical trades."
Dominic is enjoying the Personal Finance component in the PHSE curriculum this term and thinks there should be discussion in school about the ethical issues regarding the use of money. In short he believes the more financially literate we are, the more able we shall be to make good financial decisions in the future.
Who Should Be Responsible For Teaching You About Personal Finance by Dominic Walsh