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February 17, 2012
 

Would you like to be more financially educated?

A report by Friends Life has found that 83% of people do not feel that enough is being done to educate people about financial matters.  63% said they wished they had received financial education in school and 65% thought that financial education should be provided in the workplace.

The study also found that 48% of people disagree with the suggestion that the nation's children will be more financially savvy than previous generations, while only one in five people agree.

Friends Life also suggest that a lack of financial awareness means that increasing numbers of school leavers and graduates have no idea where to go for advice on pensions - over 65% of 18-24 year olds did not know how to get this advice.

 

Source:  Credit Action - January 2012 edition

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November 10, 2010
 

Lack of financial education cost Brits nearly £250 million in charges and penalties

According to research from uSwitch.com, lack of financial education has cost Brits £250 million in charges and penalties alone, with almost a quarter having been hit by charges because they don't understand the terms and conditions of financial products.

In addition, almost three quarters of Brits say that a lack of basic personal financial understanding is to blame for debt.

For help understanding financial terms, visit the Consumer Financial Education Body's website www.moneymadeclear.org.uk for impartial financial education and advice.

 

Source:  Credit Action - November 2010

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