Last week, the Sixth Form had a seminar on personal finance. As the girls will leave school and start university or work in the near future, understanding the financial matters that they will encounter could prove an invaluable lesson.
Barclays Bank sent four of their staff to run a session covering financial terminology, bank statements, pay slips, the true cost of a credit card and how to write a budget. The number and size of deductions from a salary was a surprise to some whilst having to pay for council tax as well as income tax seemed an unreasonable demand to others. The length of time a credit card debt would last and the total amount payable if one only made the minimum payment each month was eye-opening to all. Working out a budget and paying all the bills associated with living away from home was not an easy task but we managed in the end.
I think that everyone, including me, learned something important that day.