Education Quandary: My son says that he can take a GCSE in personal finance. Is this an exam subject? Is it worth taking?

HILARY'S ADVICE

One of the great debates in education has always been whether the priority is to teach children stuff (the kings and queens of England, the rules of algebra) or skills (how to amass, sort, assess information and draw conclusions from it). Within that debate is another about whether the material we teach them should be pure (the Greek myths, the periodic table) or applied (how to stay healthy, how to run a business).

These divides are, of course, arbitrary as all knowledge is ultimately indivisible. But they arouse great passions. So those who believe that education should elevate young minds with Latin verbs and economic theory will scoff at the idea of pupils learning about mortgages and savings accounts. Equally, those who believe that education is all about skills may well argue that schools are generically equipping pupils to deal with the business of life, and don't need to waste time teaching the details.

Personally, I think that teaching schoolchildren about handling money is an excellent idea. I've watched a number of primary schools doing it and seen how much the children love it and are motivated by studying something so useful. But I'm not sure whether a whole GCSE is a good idea, and do not even think such a qualification actually exists, although I know a GCSE equivalent is run by the ifs School of Finance.

I think you need to go into school with your son and ask either his form tutor or the relevant teacher to explain exactly what this so-called GCSE exam is, what its curriculum consists of, and what taking it will mean for his other GCSE choices. It could well be that your son has got the wrong end of the stick and no such course is on offer, or, if it is, it might be something that comes under a more general life skills curriculum. If not, and it is a serious GCSE, I would tread cautiously. It's not a well-known qualification, so you need to help him consider carefully the implications of taking it.

READERS' ADVICE

If your son has been taught well, there will be no need for him to do this new qualification as he will have all the information he needs.

Personal finance is about understanding interest rates, which he will have done in maths, being able to understand some basic vocabulary, which he can look up and learn, and having the common sense to realise that he must always treat the salesman's patter of banks and credit card operators with scepticism.

If he has a good education and a good head on his shoulders, he can do this for himself and leave this one alone.

Jim McGleish, Kent

My primary school has been teaching about personal finance for the past five years, and, although we were all unsure about it, it has been a huge success and the pupils just ran with it.

They love working with money, and have a great grasp of things such as budgeting and savings.

We were amazed by how much most of them already knew about their family finances, and, in fact, the only thing that has been difficult is the personal information that they tend to want to volunteer in class – so we have also had to teach them about privacy and discretion.

Rachel Sheers, London, NW4

If your son wants to go to university, he will do better sticking to the qualifications that are known and tested, especially as things will be more competitive by the time he applies.

Sarah Ball, Berkshire