Source: The Telegraph >> Read Full Article and Comment
Five-year-old children will be given compulsory lessons on managing their finances from next year.
By Richard Edwards
Published: 1:39PM GMT 03 Jan 2010
Ed Balls, the Secretary of State for Children, Schools and Families has disclosed details of the new programme, which starts with lessons on how to save money in a piggy bank. While at primary school, pupils will be taught about current and savings accounts and how to budget.
In secondary school, personal finance will be taught as part of the comulasory PSHE (Personal, Social and Health Education) programme.
The subjects covered will include credit cards, mortgages and loans, with specific warnings about debt.
Mr Balls said: “It’s really important that we teach our children about pensions, responsible saving and effective money management.”
Martin Lewis, creator of MoneySavingExpert.com, said: “Finally we’re getting somewhere. We encourage our youth into debt when they go to university, but the disgrace is we’ve never educated them about debt.”
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