As it’s something that we all have to deal with at some point in our lives, you would think that money management would be something that is taught to us in Britain from an early age.
At the moment, financial education is not something that is on the curriculum at schools, but a huge cross party group of MPs are looking to change that. They have recently supported the statement that students should have compulsory lessons in money management at all levels of learning. Well, finally something said by a large group of MPs that I agree with!
It’s no wonder that the country is in so much debt, seen as the majority of us don’t really know what to expect when it comes to our finances. Not only this, but now that the Government is raising tuition fees for University, it will become more and more difficult for students to know what to do when it comes to managing their money.
With things like tax returns, PPI, council tax, bank accounts and direct payday loan lenders that most of us will have to sort out, we are left pretty much to fend for ourselves, sifting our way through all of the jargon and information to try and figure out how it all works.
These days, younger people are entering an increasingly confusing financial world, made up of store cards, mobile phones and credit and loan agreements with different short term loans lenders UK. I think that financial education is a necessary step to equip all of us with the relevant skills from an early age to prepare us to be able to make informed decisions as consumers.
Seen as nowadays the average household currently owes around £23,539 on credit cards, loans and overdrafts, it seems that now more that ever something needs to be done to make sure we can sort out our national debt before it gets any worse.