Bankers to give kids financial advice

Schoolchildren in England may soon be receiving financial education from high street bank officials.

Plans are under consideration that would see representatives from Lloyds, Royal Bank of Scotland and Barclays, among others, give presentations on money management to primary and secondary school kids from September 2014.

Justin Tomlinson, chair of the All-Party Parliamentary Group on Financial Education for Young People, told the Financial Times that teachers have only been trained "to a certain level" and so he thinks it would be a good idea to have a database of organisations that can provide additional assistance when required.

It is hoped the move would improve the financial skills of young people, which could ultimately prevent them from needing a debt solution when they are adults.

Over 200 MPs want financial education to be made part of the national curriculum and they think it should be embedded into core subjects, such as maths.

By Amy White