Personal finance lessons 'key' for young people's futures
www.moneynews.co.uk > Banking > Personal finance lessons 'key' for young people's futures
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Money News |
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Personal finance lessons 'key' for young people's futures
Fri 13th Jul 2007
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Entitled economic well-being and financial capacity, the lessons will inform pupils about a number of financial matters, relating to homebuying, tax and pensions issues among others.
The move was welcomed by Clare Tickell, chief executive of the National Children's Home, who said that previous experience had shown that young people who received personal financial education were provided with the "skills and confidence to understand how to manage their money".
Ed Balls, secretary for children, schools and families, also described how it was important that children learned about "everyday [financial] issues" such as buying a house and saving for retirement.
Recent research by the Office of Fair Trading indicates that there is a widespread lack of financial knowledge among 18-24-year-olds in the UK, with the average amount owed by people in this age group totalling £12,790.
Related News : Banking |
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