Personal finance education could 'reduce debt'

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Personal finance education could 'reduce debt'

Tue 17th Jul 2007

Teaching personal finance in schools could help to reduce debt levels in Britain ultimately, the Personal Finance Education Group (PFEG) believes.

Director of policy at the educational charity, Alastair Matthews, describes the introduction of lessons on various aspects of finance as a welcome move.

He said that such lessons had always been part of the curriculum in the form of PSHE lessons but that they had become "buried and hidden".

As part of a two-pronged process of creating a national policy and getting into schools to impart knowledge, Mr Matthews described how the group was hoping to bring personal financial education into schools across the country.

"Personal finance education is not going to necessarily turn everybody into a totally savvy consumer overnight. But doing it, we believe, is much better than not doing it."

He added: "And at the moment far too few schools are doing anything about it at all."

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