Aug 3 2007
Children should be taught the basics of personal finance, one financial advice service has claimed.
James Falla, managing director of debt consultancy Thomas Charles, said that the prospective introduction of financial education in schools is a good thing.
"It may not necessarily help to teach them about what the pitfalls of getting into debt are, but I think teaching people the money basics - being able to say to yourself: 'What do I actually bring in a month? What do I actually spend in a month and what have I got left for going out with?' - will do," he remarked.
In July, the new schools secretary Ed Balls announced a revision of the secondary school curriculum to incorporate lessons in 'economic wellbeing and financial capability'.
Mr Falla asserted that giving children basic information about money could be an empowering strategy, giving them the "opportunity to manage their circumstances".
