Calls for financial education receive support
April 24, 2007 by admin
Filed under News, News-Banking
Calls from the British Bankers’ Association (BBA) for improved financial education in the UK’s schools are receiving widespread support.
The BBA claims that by educating youngsters in personal finances, they are more likely to be able to manage their money in later life.
This in turn will improve the nation’s financial capability and, hopefully, means that fewer Brits will find themselves in debt due to poor management of credit cards and other types of loans
in the future.
“We believe the best way to help people make sound decisions about what to do with their money depends on education. This should start young,” said Angela Knight, chief executive of the BBA.
“Until teachers can no longer choose between teaching financial literacy or not and whilst it remains un-assessed, it is hard to see how we can move from excellent pilot schemes to a complete roll-out across every UK school.”
The BBA’s stance on this issue has been well received by many industry figures who back the idea that personal finance should become a core part of the national curriculum.
“We are pleased that the BBA recognise the importance of personal finance becoming part of the core curriculum in schools and the fact that this should be examinable,” remarked Phil Hall, spokesman for financial education charity ifs School of Finance.
Even if you have already left school it is not too late to learn about money and how you can improve your financial situation.
