Schools 'should teach financial management'

June 30 2010

Children should be taught the importance of good financial management in school, it has been claimed.

Zoe Stevens, a spokesperson for comparison site Confused.com, said that providing this type of education in the classroom is extremely worthwhile.

"It's important that people understand finance to aid in their ability to manage their finances well. 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 commented.

Ms Stevens pointed out that average UK debt is increasing and that since borrowing money will be inevitable for many people in the future, it is important that children learn about things such as interest rates and the repayment process.

Parenting website Mumsnet teamed up with consumer campaigner Martin Lewis earlier this year to call for financial education to be made a compulsory part of the national curriculum.

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