Nov 6 2006
New research has shown that an increasing number of young people are studying for qualifications in personal finance, which may better help them manage their spending and saving.
The ifs School of Finance has announced that more than 6,000 students are now studying for such qualifications at GCSE, AS and A-level equivalents, a rise from around 2,000 last year.
A study from the University of Manchester reported that such education has a positive impact on saving and spending trends of individuals, the financial education provider reported.
"The qualifications cover topics such as the origin of money, currency exchange, sources of money spending and saving, opening and accessing accounts, monitoring and managing money, understanding different methods of payment and their implications," ifs School of Finance reported.
Teachers' TV and the Financial Services Authority recently announced a collaboration on the production for new education programmes to encourage financial capability for young people.
