Recession prompts demand for financial education

| October 12, 2009
Recession prompts demand for financial education

Since the onset of the credit crunch schools are increasingly teaching their pupils money management skills, a financial education charity has claimed.

The Personal Finance Education Group (PFEG) said it has seen a swell of interest in its programmes because of the recession.

PFEG’s school programmes are “more sought-after now because of the climate,” said Celia Allaby, PFEG regional director.

Allaby welcomed the rise in interest as PFEG believes schools should aim to give children a “proper understanding” of the way money works.

She made the remarks following new plans by the Scottish government to improve the financial education offered in schools.

Commenting on the Scottish scheme, she said: “It is about financial responsibility, things like understanding how a credit card works.”

In related news, research by the Learning and Skills Council recently found that nine out of ten (87%) adults are unable to do the maths behind standard special offers on the high street.

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