Why it’s So Important to Teach Children about Personal Finance

As financial advisers, part of our job is explaining often complex financial terms and products to our clients. If you don’t have access to a qualified and experienced financial adviser, your options are relatively limited. Perhaps you do your own research via online searches or ask friends and family for their advice on how to save, how to manage debt and how to invest.

Unfortunately, information online is not always accurate, family and friends whilst meaning well may not be up to date with their own knowledge and anyone who lacks a basic understanding of personal finance can find themselves falling prey to fraudsters and ‘get rich quick’ schemes.

It’s bewildering that the government does not have a national financial education in schools programme in place to give our young people a head start on navigating the financial world as they head off to college or university or into the world of work. This is despite the fact that we know there is a causal link between money worries and a breakdown