Dudley MP Ian Austin has backed a campaign to teach local children how to manage their money.

Every primary and secondary school in Dudley is being given the chance to take part in My Money Week with free teaching materials offered 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.

Ian Austin MP said:

“Times are tough for local families. Prices are going up and wages seem to stay the same. Many families are really struggling and some end up being ripped off by payday lenders, so it’s more important than ever for young people to learn about managing their finances.

“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.”