Finance education ‘can aid debt elimination’
Providing Britons with better financial education could help debt elimination efforts, it has been claimed.
The Personal Finance Education Group (PFEG) urges that debt issues should be covered in more detail in schools.
And the group welcomes moves to make finance a main topic for discussion, rather than leaving it “buried and hidden” within the curriculum.
Alastair Mathews, director of policy at the PFEG, states: “Personal finance education is not going to necessarily turn everybody into a totally savvy consumer overnight.
“But doing it, we believe, is much better than not doing it - and at the moment, far too few schools are doing anything.”
A key aspect of the Secondary Curriculum unveiled last week is the provision of lessons on economic wellbeing, including an awareness of interest rates and credit card debt.
But Norwich Union recently warned that Britons who have already left school are unlikely to benefit from the new curriculum.
However, expert advice is still available to help such people with debt elimination.
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