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Financial education 'needs to be more practical'
12 March 2008
Despite the popularity of business and economics courses in schools, many students are unable to budget or handle their credit cards because the courses are not practical enough, a leading finance education group has claimed.
The Personal Finance Education Group (PFEG) has said that courses need to become more practical so that students are learning about the practicalities of budgeting.
Alastair Mathews, director of policy for PFEG, said that schools should find out where they can place financial education across all areas of the curriculum.
"Some students have already learned something about personal finance in their business and economics work – and yet they still don't have a clue how to manage their credit card. They know something theoretically, but don't know how to apply it in practice," he said.
While Britons credit card debt is hovering around £54 billion, a survey of future leaders by the charity Forum for the Future showed that 81 per cent of students feel that they manage their money 'very' or 'quite' well. 
