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MPs back financial education in schools

31 January 2011

In Brief:
School kids could be given compulsory financial education lessons after 120 MPs from across the political spectrum joined forces to call for action. 

Taken from Money Marketing, 31 January 2011. Click here to view in full.

FRP Advisory comments:

"Every school leaver should be equipped with the basic financial skills to help them avoid ending up being subject to financial scams, loan sharks or becoming another personal insolvency statistic. The school curriculum is already overcrowded, but it is important to build on young people's knowledge of money and how to manage it. 

Children interact with money from an early age. They start shopping online from an average age of 10, but more than half of England's teenagers have been - or currently are - in debt by the time they reach 17, according to the Personal Finance Education Group. Extending Personal, Social and Health Education (PHSE) in schools to include more teaching about financial capability, and introducing an element of compulsion to this teaching, will encourage greater responsibility towards credit and debt with the next generation of consumers."

Charles Turner

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