BUDGETING and how to manage money should be taught in schools, a survey by Elan Homes has found.
In the survey Elan asked what, if anything schools should be teaching children that they currently are not in regard to finances and home ownership.
Most people (54.05%) said there should be lessons on “how to manage money/budgeting”; while 41.16% wanted young people to be taught about household bills.
Almost a third (30.77%) called for lessons on interest rates and almost a quarter (23.68) suggested how to get a mortgage should be on the curriculum.
Marie Morris, sales director for Elan Homes in the North, said: “Prime Minister Rishi Sunak has called for maths to be taught until the age of 18, but our survey suggests people want financial focused lessons that will help prepare young people for independent living. Giving maths a practical spin so that it relates to real life, combined with teaching students about interest rates, the different household bills they can expect to pay in adulthood and how to budget, could have a lifelong impact.”
One person who responded to the survey suggested young people should be taught how to cook with a view to saving money, while another called for lessons to be introduced on “how big business and government work in finance”.
Independent homebuilder Elan is helping buyers’ budgets go further by a 5% deposit contribution on selected new homes.
Elan’s sales director for the Midlands Tracey Ball said: “The chance to receive a 5% contribution towards your deposit, added to the savings on energy bills moving to a new build home offers, equals a substantial saving. Research by the HBF suggests the difference between annual bills in a new home and an older property is £2,600 based on bills over the last calendar year.”
Elan is building new homes in various locations including Balmoral Gardens in Southport, Merseyside; Birchfield Court, Swinton, and Greenside View, Dukinfield, Greater Manchester; at three Lancashire locations – Redwood Gardens, between Blackpool and Lytham, Wrea Green Meadows in Wrea Green and Whittingham Fold in Goosnargh; in Staffordshire at Dosthill Gate in Tamworth, Seven Acres, Elford, and Vardons Keep in Tettenhall; Three Js in Abberley, Worcestershire; Avalon in Glastonbury, Somerset; and Seascape in Ilfracrombe, Devon.
All Elan homes achieve a minimum EPC (energy performance certificate) rating of B, making them eligible for green mortgages, which can offer lower interest rates than a standard mortgage.
For more information about Elan Homes see http://www.elan-homes.co.uk/