Sep 10 2007
Schools around the UK will soon be using child trust funds (CTFs) as a way of engaging children on personal finance issues, the Treasury has announced.
The government is keen to see children gain a greater understanding of how to manage their money and ministers are encouraging teachers to use CTFs to "bring finance to life" in classrooms across the country.
Every child born after September 2002 has had a CTF opened on their behalf and the government is hoping that young Britons will have a good financial awareness when they reach the age of 18 and these funds are accessible to them.
Children, schools and families secretary Ed Balls said: "By the time the first children with a CTF leave school they will have the skills and confidence to manage their money well."
"It is vital children understand how maths is relevant to everyday issues like opening a bank account, shopping and saving."
The Tax Incentivised Savings Association revealed recently that family contributions to CTFs continue to increase in value.
