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Posts Tagged ‘debt prevention’

In our modern society, debt is extremely difficult to avoid. UK residents together owe hundreds of millions of pounds. So, how can we educate the futures generations on how to manage debt and how can we prevent them from falling through the same trap doors.

When it comes to finances, I think it is important to treat children as young adults when it comes to managing finances, you cannot wrap them in cotton wool and hope for the best because debt can put people in very dark places. You should sit down with the children and fully explain what to do and what not to do with their money. It is greatly important that you test the children during their early years and see how they cope with handling pocket money for example, therefore, any problems can be rectified before it is large amounts of money they are dealing with.

Although I think it is important to be taught in schools, sadly, I feel that it is just impossible. The education system is stretched as it is and there simply isn’t enough time or resources to accommodate it.

It looks like all of the educating will have to come from the home!

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