r/UKPersonalFinance updated Flowchart


#1

Over at the UK Personal Finance subreddit the financial advice flowchart has been updated (only in thread, not in the side link yet).

I feel this should be something displayed in schools, I know I never had any financial education growing up!


I'm 25 and I want to start saving for a house. Where do I start? 🏡
#2

There is now also a beta interactive version of this flowchart:

https://marcusmichaels.github.io/personal-finance-flowchart/


(Caspar Aremi) #3

I am going to print this out and keep it by my desk.


(Kevyn) #4

I’ll ask my any of my thirty 7-year old pupils whether their pensions are full or on track for £1m+ on their current contributions :grin: .

Financial education is an absolute must but it must be appropriately taught. Just displaying this excellent chart wouldn’t do much.


( related to Monzo CEO, Investor in Monzo ) #5

you could encourage your 7 year olds to save credits until the end of year to be rewarded by something big that they will enjoy for years or spend all / half their credits throughout the year on smaller things that give immediate gratification :slight_smile:


(Kevyn) #6

I like the idea. In another school I worked at I did encourage my class to make money by giving them a £50 loan and they had to think of money making strategies.

I wonder if Monzo has an educational outreach team yet…? This diagram could be split into a series of lessons for different age groups.


( related to Monzo CEO, Investor in Monzo ) #7

never to young to learn about choices and consequences to influence / inform behaviour :slight_smile:

Monzo bank accounts for younger users is often requested - probably not 7 year olds in all honesty :slight_smile:


#8

Reposting the beta interactive version for new forum members:

https://marcusmichaels.github.io/personal-finance-flowchart/


#10

Bumping for anyone else who didn’t know about this sub.