Education in personal finance is key!

The firm is calling for the government to ensure that education in personal finance is prioritised if new rules about post-16 maths lessons comes to fruition.

Rishi Sunak announced plans to introduce compulsory maths for all students in full time education between 16 and 18 years old.

Karl Pemberton, managing director is calling for the government to make sure that personal finance is included on the syllabus to help young people learn to manage their money better as they go into adulthood.

He suggests that young adults would benefit from additional support in investments, savings, interest and credit.

The firm has worked with students in Tees Valley previously, and has had a positive reception to support on managing personal finances from a young age.

Karl said: “While all aspects of mathematics are important, learning the skills needed to handle your personal finances are essential to becoming a well-rounded adult.

“Many young people leave full time education and don’t understand the value of savings, pensions and investments, and how starting these early could reward them in the future.

“Worse still, many don’t understand the impact of spending beyond their means, and what could happen to them if they find themselves with bad credit before they’re even on their career path.

“The government would be paving the way for future generations of financially-savvy adults if they ensure that the new post-16 maths courses include modules on managing your money and investing in your financial future.

“It would be a practical application of the subject which would be useful to all, regardless of where their future takes them.”

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