Economic climate 'makes financial education more in demand'

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Economic climate 'makes financial education more in demand'

Fri 9th Oct 2009

The state of the economy has made the idea of financial education more attractive, says an industry expert.

Celia Allaby, regional director of the Personal Finance Education Group, made her comments following the announcement by the Scottish government that it is aiming to improve financial education in schools.

Ms Allaby pointed out that the economic climate has made these services "more sought after" but they are generally great skills to have.

She noted that it would be good to see a similar scheme rolled out across Great Britain and said that her organisation is jealous that Scotland got there first.

"It is about financial responsibility, things like understanding how a credit card works. It puts a much greater perspective on it," she explained.

The decision to start looking more closely at how well young people are educated about looking after their finances has indicated that recently people have not been managing their money properly, added Ms Allaby.

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