Children grow up not knowing the concept of prices

November 5, 2010

lifestyle

Today I read an article online from the beginning of the year, which talked about a lot of teenagers thinking that bacon came from sheep. I fear for future generations when I read statements like that. Clearly something is missing from a child’s basic education if they don’t know the difference between a pig and a sheep.

Well today I also read something else that makes me worry about what children are getting taught, not just at school, but at home as well.

In a recent study by Halifax it has been shown that children don’t really know the price of everyday goods. Children have been over estimating the price of basic things like a pint of milk, which typically costs around 45p, but children would be willing to pay as much as £2 for.  A lot of children also thought a stamp could cost as much as £1.16, when it really costs 42p. I think the lesson here is never send your child shopping, because they will get ripped off and be none the wiser.

Apparently 57% of children rely on their parents to teach them the price of things and the value of money, with 20% looking to teachers and a small 8% looking to the internet for answers.

It has been suggested that the lack in knowledge could be connected to the way we now shop, as  a lot of people shop online or at different times (as a lot of supermarkets now offer 24 hour stores), so not a lot of children are shopping with the parents and seeing how much things cost.

There is a worry that this could lead to lack of money skills later in life, meaning children could have bad budgeting skills when they are older. Not exactly what we need in these bad times. The last thing I want is to have children that I have to give a lot of money to because they don’t know how much a stamp costs.

Image via The Digerati Life

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