Money matters for youngsters


- Credit: Archant

NORTH Somerset schools are being called upon to educate children more about money in a bid to improve their future financial management.

The area’s MP, Dr Liam Fox, has thrown his weight behind a campaign launched by the national charity, Personal Finance Education Group (pfeg), which wants to get children talking about money in the classroom.

Get Money Smart posters, which list a number of tasks for children to complete, have been sent to every primary and secondary school in North Somerset.

Ideas on the posters include checking change, estimating the cost of a weekly shop, comparing mobile phone tariffs and planning and budgeting for a trip.

Schools are being encouraged to hold discussions about the different ideas during class as well as coming up with their own ideas of tasks to complete and then share with other schools.

The move comes after it was announced financial education will be taught in secondary schools as part of the National Curriculum from next September.

Dr Fox said: “At a time when so many people are suffering from the effects of personal debt, it’s a very sensible idea to teach children about money management. It is a very useful life skill to acquire.”

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Chief executive of pfeg, Tracey Bleakley, said: “This is a crucial topic that every young person should learn.

“Getting pupils talking about money and financial decisions they will face in the future is a great way to start.”