Money week to teach youngsters about personal finance

Information regarding personal finance is to be provided to a number of the country's schoolchildren as part of the My Money Week scheme which will take place later this year.

Backed by the government, the week could provide youngsters with money management guidance when it launches at the end of June.

Ed Balls, the government's schools secretary, believes that it is essential that the country's younger residents are given a good grounding in money matters.

"We need to make sure they have the right information and are prepared for the complexities of today's modern world so that they can give security to their families," he commented.

While such information might help youngsters avoid things like credit card debt, Mr Balls suggests that they should also be told about the importance of pensions.

In relation to money management, uSwitch.com figures have revealed that many consumers have recently been looking to get credit in order to fund their shopping trips.

Posted by Tom Burroughs.