Dudley MP Ian Austin has backed a campaign to teach local children how to manage their money.
Every primary and secondary school in Dudley has been sent free Get Money Smart teaching materials by national charity pfeg (Personal Finance Education Group), which wants to get children talking about money in the classroom.
The teaching materials are designed to encourage classroom discussions about money and personal finance, including checking your change, estimating the cost of a weekly shop, comparing mobile phone tariffs and budgeting a trip away.
Austin says the scheme could help people avoid falling into the clutches of payday lenders in the future.
The campaign has been made possible through a personal donation to pfeg from MoneySavingExpert.com’s Martin Lewis, which has enabled the charity to send free copies of the Get Money Smart posters and teaching resources to primary and secondary schools in the Dudley area and across the country.
Ian Austin MP said:
“I think it’s more important than ever for young people to learn about managing their finances.
“Payday lenders are booming because they exploit people who are struggling to make ends meet and don’t know how to put their finances in order.
“Getting local young people to think about their finances as early as possible will help them build a future and stay out of a cycle of debt.”
Tracey Bleakley, chief executive of pfeg (Personal Finance Education Group), said:
“We are thrilled to have the support of Ian Austin MP for this free new scheme for primary and secondary schools in Dudley North. I hope all local schools will seize the opportunity to use their Get Money Smart posters to bring money to life in the classroom. This is a crucial topic that every young person should learn. Getting pupils talking about money and the financial decisions they will face in the future is a great way to start.”