School pupils ‘should learn about debt management’

It is important for young people to learn about issues such as debt management, it has been argued.

Wendy van den Hende, chief executive of the Personal Finance Education Group, noted that the onset of the economic downturn has highlighted the significance of teaching youths about handling money.

Many individuals are faced with “quite complex financial decisions” once they leave school, she stated.

The organisation’s objective is for all pupils to leave education with the skills they need to deal with money-related matters.

“What we’re trying to do is give them the confidence and the financial acumen to understand the jargon and know where to go for help,” Ms van den Hende explained.

It comes after a survey carried out by the Association of Investment Companies found that more than half of those questioned felt they would be in a better financial position now if they had been taught about money at school.

By Jamie Price