Financial education for school children in the UK

The government in the UK has planned to educate school children about personal finance. This strategy would help people in managing their debts and money in a proper way.

London (loans-bazaar) August 23, 2006: Government in the UK has advised to develop their plan for educating school children about personal finance.

The government has decided that the 10 per cent of the functional maths classes would be dedicated to financial education by the year 2008. Nevertheless, financial education charity, ifs School of Finance asserted that this would form an insufficient seven and a half hours of study over two years.

Anne Kiem, head of wider financial learning in their organization stated the government's plan about the financial education to be added in the national curriculum as well intentioned but totally inadequate.

Financial education in Schools would expose more awareness among people regarding the financial terms and how to deal with money in addition to the services available to them such as credit cards, loans, mortgages, etc.

A report published by the Department of Trade and Industry revealed that educating people including children's about debt and money management was at present a government priority.