Teaching children about how to manage money from a young age is a good move to ensure they have a "better grounding" when it comes to their finances, an expert has said.
Commenting on the news that the government is to introduce compulsory finance lessons for children from the age of five, chief executive of the Personal Finance Education Group Wendy van den Hende said that teaching youngsters about cash can help them make better decisions.
"If you think about the situation we are all in now, clearly as adults we have not been very good at managing our money," she said.
Under the government plans, primary age children will be taught about saving in a piggy bank and will learn about savings accounts and current accounts, which could interest mums and dads keen to make sure their youngsters are in the know about finance.
Once children reach secondary school, they will be taught about finance in a more in-depth way, with subjects including credit cards and mortgages up for discussion.
