Friday 9th November 2007
More education could help young people to plan more effectively for their future, according to an expert.
Wendy van den Hende, chief executive of the Personal Finance Education Group, notes that children are exhibiting a desire to save.
But she urges against assuming that they will pick up good financial habits "by osmosis".
"Our research has shown that children are in fact saving their money so we need to help build on these good behaviours and attitudes," she comments.
"What is needed is more structure and a much more coherent programme," Ms van den Hende adds.
She warns against allowing young people to remain uninformed as they grow into a climate of peer pressure and advertising from financial institutions.
The comments follow figures from HM Revenue & Customs which show Britons are saving more than ever before.
More than £200 billion has now been deposited into tax-free individual savings accounts, the BBC reported recently.
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