Confused.com: Debt could be prevented with financial education

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Confused.com: Debt could be prevented with financial education

A Confused.com debt commentator has suggested financial education in schools could help future generations avoid money troubles.

Spokesperson for the comparison site Zoe Stevens described how some people need to borrow money on an everyday basis, but it is important that they understand the repayment process.

In her view, individuals will find managing their money easier if they are taught more about the products they are using or will utilise in the future.

These comments were made after an Equifax survey found that 94 per cent of parents believe that financial education should be made part of the national curriculum.

The Confused.com debt expert remarked: "Starting this at a young age will ensure that as they grow up, children are able to make sense of what can seem like complicated financial products."

She also noted that the organisation is calling for greater clarity on the terms of so-called payday loans, since many people are signing up for them without comprehending what they are committing themselves to.

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