Young people ‘need financial education’
Article Category: Debt Management Help and Advice
Young people want to learn about financial issues such as debt management, it has been claimed.
Director of policy for the Personal Finance Education Group Alastair Mathews said that the costs of living for consumers who have recently turned 18 are higher than they were for previous generations, making money management high on the list of priorities for this age group.
"There’s no doubt that young people now recognise that they’re going to be incurring considerable financial expenditure in the years immediately after they turn 18," Mr Mathews said.
Describing young people as "quite positive and quite thoughtful", the director of policy asserted that many do not get the financial advice on matters such as debt management they need at school.
"There’s a tendency in school education to deal with the purely academic and not come back to the real world," he claimed.
A recent study from NatWest and Ucas found that graduates owe an average of £12,363 when they leave university, with 41 per cent of people in Year 12 feeling financial prepared for university.
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