Children 'should be taught at school how a credit card works'
A scheme to teach children how credit cards work and about other personal finance matters should be launched in the UK, according to a charity that helps schools to teach children about financial issues.
Children 'should be taught at school how a credit card works'”
Celia Allaby regional director for the Personal Finance Education Group (PFEG), said children should also be taught about financial responsibility.
However, she warned teachers must be supported when educating children about these issues as they might not be familiar with or have financial skills themselves.
Her comments follow news that ministers in Scotland have pledged to offer personal finance lessons, which could teach children about credit cards, in the national curriculum in order for children to learn basic money skills.
The move follows the release of a survey of 350 schools by the Evaluation of Financial Education in Scottish Schools, which showed finance skills were not at a desirable level.
Ms Allaby commented on the new scheme: "It is more sought after now because of the climate. Maybe it is the groundswell of opinion, and it does tend to come about at times of difficulty, as it is highlighted that people's personal finance might not be as strong as it should be or may have been in the past."
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