“Introducing Wall Street to the Classroom”
Ireland has financially and economically imploded!
After an unprecedented run of economic euphoria, we are now facing a horrible aftermath of a withdrawal of multinationals, crippling personal debt and negative equity. How did we get ourselves into this mess… or more importantly, how do we get ourselves out of it?
Let’s try to look beyond this time and let’s assume that this recession will pass, as every single one in Ireland’s history has to date. Let’s look to a time when competitiveness will be restored, the budget deficit manageable and employment is once again rising. Will we have learned from the harsh lessons from now or will we go through the whole process again?
I would prefer for our country and our people to have a greater understanding of how to manage their money, so that fiscal rectitude of the present scale does not have to be witnessed again. That is why, I (with the help of my colleague Ardle Culleton), have put together a module for Transition Year. This is an eight week program where the teachers of Ireland bring Wall Street to the Classroom.
This module enables the student to;
- Gain an understanding of what the stock market is about
- Learn the various ways to get exposure to the market
- Decide whether a stock is available at value or not
- Put together a portfolio and have a strategy within it
- Buy and sell shares as cheaply as possible
- Understand how an investment club works
Each lesson is designed so that the stock market becomes an interesting place to visit, the cloud of mystery is taken away from investing and managing money becomes fun!
The entire resource has been put together with the teacher and student, completely in mind. There are slides complete with my own voiceover and a written explanation. In addition, there are lots and lots of activities, worksheets, assignments etc. It is a very hands-on, active class as managing one’s money is not just about theory, there is far more importance placed on action. This is reflected very clearly in the curriculum. I have been through a degree in finance and left college without being any the wiser about managing my own money!
There are many people out there very happy to advise you about what to do with your money. However, before you take them up on their services, ask yourself the question, are their goals aligned with yours? From my experience, there are few who I can truly say are independent and on your side. Generally, people who give “free investment advice” are paid through commission, so often their motivation is to sell you a product with the greatest margin for them. Many brokers make their money the more often you buy and sell, and hence would encourage you to be active in the market, whether it fits in with what’s best for you or not. As a result, I would love for the next generation to be educated so that they can look at the financial services industry objectively and identify what really is best for them and their financial future.
I (Susan Hayes) have been touring the country since January talking to teachers about this project, that I so passionately believe in. This is a completely voluntary program that has been endorsed by the SLSS (Second Level Supports Services). If you want to see when a presentation is coming up in your area, check out our Events page. If you would be interested in holding a workshop in your county or region, please contact me (my details are on the Contact Us page). Each teacher who attends an in-service will have their expenses paid for.
Our ambition is to change investing in Ireland for the better. We are asking that you help us to do this and together, we can change the financial landscape for your children, your grandchildren and indeed, each of the next generations of children of this great nation.