Strong support for financial education

Britons are keen for young people to be taught about personal finance at school, according to a new survey.

14:54 28 September 2004

Britons are keen for young people to be taught about personal finance at school, according to a new survey.

Research by the Norwich & Peterborough Building Society revealed that 90 per cent of people would like to see schools doing more to help children understand the financial services market.

However, the study also showed that most people think they understand basic personal finance.

The news comes as the government looks for ways to encourage more people to save for the future.

"We want to keep pushing the message of just how important it is to plan ahead and make informed financial choices," said Mike Hounsell, N&P's director of sales and marketing.

"Independent financial advice is not only for the wealthy and is useful at every stage in life."

Ignorance is seen as one of the major obstacles to closing the UK's savings gap, the building society adds.