As any parent will testify, children and teenagers don’t tend to have the best grasp of monetary matters.
But after much campaigning, schools in England will now be taught money management in maths and citizenship lessons from September 2014.
Should the plans go ahead, children aged between 11-14 will be taught about the functions and use of money, personal budgeting, cash management and products and services.
From 14-16, they will be taught about wages, taxes, credit and credit cards, financial risk and other products and services.
The chief executive of the Personal Finance Eductation Group, pfeg, Tracey Bleakley said “With financial mathematics included as a part of maths and financial capability included in citizenship education for the first time, the campaign has achieved both of its objectives. We are delighted that ministers have listened on both fronts."