You are here: Home - Uncategorized -

UK needs money lessons

Written by:

Personal finance education should be put on the curriculum, to teach uninformed British consumers the basics about effective money management.

That is the conclusion of the the ifs School of Finance. It points to the latest research from Credit Expert, which show that 24 per cent of UK consumers have difficulty understanding their own finances and money-related matters, and find it difficult not to overspend. Formal lessons aimed at teaching people how to monitor their incomings and outgoings and develop a better understanding of their credit and debt arrangements would have appositive impact on the whole country, and help people to avoid financial disasters in the future, according to the school of finance.

Jim Hodgkins, managing director of Credit Expert, said: “What this research seems to expose is a serious lack of understanding of the long-term consequences of these actions and how it can affect your
credit rating – ultimately impacting your financial future.”We feel it’s imperative that people fully realise the implications of not managing their

finances properly.”

Related Posts


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co... Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Inflation slows at factory gate

The pace of so-called ‘factory gate’ inflation slowed down in April, with a lid kept on the cost of raw...