Public calls for money lessons

 
Ben Southwood
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FINANCIAL education should be a compulsory subject at school, according to a poll released by MoneySupermarket yesterday.

Responding to the question, “Is it important to teach children about managing money?” almost three quarters said that it was, and that it should be taught as part of the compulsory school curriculum.

A further 22 per cent agreed it was important, but said that the responsibility fell mainly on parents – meaning that over 95 per cent think financial education in some form is important.

Less than two per cent said that it wasn’t necessary until children grew older and started to manage their own finances, while a further fraction, again under two per cent, said there were more important things to be teaching children at school.

Just 0.6 per cent of the 2,722 respon dents voiced no opinion in the web poll, which ran in the second week of this month as children returned to school.

Kevin Mountford, head of banking at MoneySupermarket, said that whatever schools did, there were simple ways that parents could teach children the important basics of personal finance.

“The earliest introduction most of us will have to managing money as a child is saving up birthday or pocket money,” Mountford said.

“Putting money away for a rainy day or an emergency does not only encourage independence, but can be a vital lesson on the importance of saving,” he went on.

This new poll came after previous evidence that suggested children might be as concerned as adults about their financial education – 96 per cent of 7-16 year olds polled said every school pupil should receive financial education.