Youngsters need more ''financial planning lessons''
When it comes to planning for the future, Britain''s debt consultants agree that financial education in this country is "abysmal" and young people should be taught more about mortgages and everyday financial planning.
Key figures including professors of economics and MPs came together at Canary Wharf yesterday for the Great Debt Debate which saw discussion of the UK''s current debt crisis.
It was held as part of ongoing Debt Awareness Week with the experts all agreeing that young people should be given much stronger guidance on financial matters from school age.
Melanie Giles, an experienced insolvency practitioner at the conference, said: "So many people don''t do the simple maths of how much money is going into a household and how much is going out."
She added that people come to her and they don''t know how much they owe and who they owe it to.
Other experts said that though maths lessons do contain information on calculating interest rates, young people should be made aware of varying financial products and handling money.
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