Too little too late YET AGAIN!

I’ve been saying for years that personal finance should be taught in schools and FINALLY the Government agrees. But come on, how on earth are teachers across the country going to be able to teach a subject that most of them are complete dunces in right now? All very well to say that they should be teaching personal finance and enterprise in schools but who’s going to teach the teachers, and how quickly? 

Surely the first thing that should be put in place is a massive programme of tutorials for teachers so that they have some hope of getting facts across to their kids – everything from saving, borrowing, compound interest (very important) basics of investment and how the City works. The vast majority of teachers have no idea about any of this – that’s usually why they’re teachers…they’re not that interested in business, commerce and making money. If they were more interested in making money they would be doing something better paid and less stressful than their current jobs.

At the very least the schools need proper, easy-to-follow money textbooks…hey, there’s a thought…hmm, watch this space…

Diamond-encrusted dummies at the ready – another royal baby is on the way. Prince Edward and Sophie Rhys-Jones have confirmed that they’re expecting their second child – and the Queen’s eighth grandchild.

The proud parents-to-be are no doubt delighted. Not only has Sophie suffered pregnancy problems in the past, providing heirs to the throne is, traditionally, all part of a princess's role.

Keeping the Royal Family in crowns and corgis costs each taxpayer 62p a year, according to Buckingham Palace accounts released last week. Depending on your point of view, that’s a bargain – all that tradition and tourist appeal for a little more than the price of a can or coke or a chocolate bar – or, once you take the full £37million annual bill into account – a waste of money that could be better spent on hospitals, police and schools.

One thing is for certain – however many crumbling palaces the royals need to renovate, the new arrival’s unlikely to put too much of a strain on the family finances. This isn’t the case for most families, however. The average cost of bringing up baby is thought to be around £18,000, far from small change for those of us without our heads on the back of coins. In fact, having a child is up there with buying a home as one of the biggest cyclones to hit your bank account.

The good news is that it doesn’t have to cost as much as you think – and a little early planning can be a worthwhile investment. Whether you’re thinking about starting a family or already have a brood of children to provide for, see our couples and kids section for more, or zoom straight through to this article on the costs of having a baby or our podcast on what to do when the line turns blue.