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When do you start teaching your children about finance?

There are many areas of the UK education system which attract differing opinions but one where there seems to be a consensus of opinion is the area of finance and the fact that children should be taught about money at an early age. We are not talking about investment or business, just what money is, how you use it and what it can do for you. By adding this subject at a very early age we should see a new generation that are more aware of what is needed in the future.

The current UK population is set to be saddled with substantial debt for many years to come with no end in sight for those who have over spent and are now paying the price. If we can instil the need to be careful with your finances at an early stage there are hopes that we can avert even more trouble in the future.

Debt by itself is not a problem it is just when debt gets out of control and people just assume that the economy and employment options will carry on as they are forever. Making provisions for unforeseen circumstances is vital and putting enough money away for your old age - via pensions or savings or a mixture of the two - is essential.

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