Financial education provides pensions, mortgages 'understanding'

BEAT THE ENERGY PRICE CAP INCREASE - SWITCH NOW!

 
The price cap is set to rise by £117 – switch supplier to cut your bills by up to £447* & the chance to win a Fitbit (T&Cs apply).

in partnership with Banner uswitch

Looking to switch your business energy supplier? Click here

* Between 1 Jul 2018 and 31 Dec 2018, at least 10% of people who switched energy supplier for both gas & electricity with uSwitch saved £447 or more.

Financial education in schools is "essential" if youngsters are to gain basic knowledge of financial products such as mortgages and pensions, a UK charity has said.

Alistair Matthews, director of policy at the Personal Finance Education Group, says that such knowledge is important in preparation for adult life - as it can create a "foundation of understanding on which they can build".

"We wouldn't be suggesting that schools spend a lot of time teaching about the details of present mortgages or present pensions - that's far too complex. It's [ensuring] that youngsters understand what a mortgage is and what a pension is, and what sorts of things adults need to be thinking about them," Mr Matthews said.

"Difficult as it is to get people interested in [them] when they're young, pensions are never too early to start - young people have got to be thinking about it all the time.

"[Personal finance education is] basically providing them with a foundation of understanding on which they can build as they start to become financially responsible," he added.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.


Cookies help us deliver our services. By using our services, you agree to our use of cookies. Learn more