Young people should be taught "money basics"

www.moneynews.co.uk > General finance > Young people should be taught "money basics"

Young people should be taught "money basics"

Fri 3rd Aug 2007

Teaching youngsters "money basics" could help ensure they do not end up struggling with debt later in life, it has been claimed.

James Falla, managing director of debt consultancy Thomas Charles, said that it "can only be a good thing" if children are brought up to know how to keep track of their finances.

While explaining the pitfalls of debt might not be necessary, he argued, allowing young people to learn the basics of managing money could help them as they grow older.

"It's not to say that we should say to people: ''You must not borrow credit' and 'you must not get a credit card', because that would be wrong. But it is useful to say to them: 'If you are doing these things, just stop and think about what you're spending'," he said.

A forthcoming revision of the secondary school curriculum is to include a subject called 'economic wellbeing and strategy'.

Related News : General finance
	Citizens Advice welfare applauds government
	Confused.com energy defends British Gas
	Bank of Ireland passes stress test
	Tesco Mobile deal 'courts consumers'
	Scottish Widows Investment Partnership notes favourable response
	Customers should fix now, says moneysupermarket.com energy
	Confused.com highlights importance of getting the best deal
	Prices on the rise, says moneysupermarket.com energy
	Bank of Scotland economic report 'suggests transitional phase'
	Clydesdale and Yorkshire Banks security advice issued