- Tuesday, 4 May 2010The increasing popularity among children of learning about finances as a result of the recession is a positive step forward, claims an expert.
More children want to be in control of their money and are developing a responsible attitude towards finances due to the impact of the recession according to Children's Mutual. This could prevent them needing a
debt management plan in the future.
David White, chief executive of the company, which specialises in children's savings, believes that there has been an upside to the recession as families, in particular children; take an active interest in money matters.
He said: "Children's growing interest in finances and money is a positive step forward and an important part of increasing understanding about money matters across the country."
Mr White added that two thirds of parents who were asked by the company felt that their seven-year-olds were better informed about finances than they were at the same age.
There is currently a petition to persuade the government to include financial education on the National Curriculum, which was launched by Mumsnet, a website for parents, and Moneysavingexpert.com's Martin Lewis.
They believe financial education could stop borrowers needing
debt management plans in the future because children will have knowledge about borrowing and debt avoidance.
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