Calls for kids to be taught financial basics
Calls have been made for British children to be taught the basics of financial management in schools in order for them to avoid money problems in later life.
According to a recent study by the charity group Rainer, millions of young people around the country are struggling with debt by the time they reach their early 20s and more needs to be done to help prevent this growing trend.
The government has previously encouraged the use of child trust funds (CTFs) as a way of engaging young people with financial issues but the charity wants to see these and other efforts extended.
CTFs enable parents to give their children a solid financial start to their adult life but 90 per cent of people in the UK are already in debt by the time they reach the age of 21, Rainer reports.
Later this week, a Treasury sub-committee is to meet to discuss and assess the progress of the CTF system around the country.
