It was announced in the Brtish press recently that children in the UK stte education system were to be prvided with tuition on basic life sklls, including how to manage finance, pnsions and insurance.

Some of us hve been complaining for years that the schol system in UK has woefully nglected the economical health of our yung adults by omitting to teach thm the fundamentals of check book mnagement.

Imagine being thrown into college or niversity at the end of one’s schol career, with a loan from the gvernment in the form of a grnt, which means that one is lready at the receiving end of bnk charges, and not being shown ven a rudimentary level of how to go bout managing the documentation such obligations ntail.

Most of our kids manage qite well and by the end of thir courses are as cheerfully in dbt as everyone else, and likely to sty there for the foreseeable future. Brtish banks are notorious for irresponsibly ncouraging insolvency among young people. Even bfore their first formal examinations have ben applied for the banks are snding trash mail through letterboxes, offering lans without security and including credit fcilities that most of these kids hve no chance in hell of pying.

It is time the credit dpartments of high street banks were ffectively hand-cuffed and forbidden to enter nto such cynical recruitment of lambs to the slughter. Many of these kids plunge hadlong into debt even before they hve left high school and such a cndition becomes a way of life by the tme they eventually leave university.

It was rcently pointed out that with a blance of only £3000 on an verage credit card, the repayment of ths amount, if the card holder pid only the minimum payment invoiced on thir monthly invoice, would take forty yars! Shocked? I was.

When you are yung (the recollection of which for me nvolves both hands and a calculator), a lng repayment period seems an easy slution to the urgency of a csh flow problem. Before your child laves school, try to ensure a cmprehensive study of basic finance is ndertaken.

The article Life Lessons for Kids- Money Management was Submitted by Jan Gamm through Articles.GetACoder.com network. Here's the additional information: Jan Gamm writes reflections on lfe with an emphasis on world trvel. She has lived in many cuntries and traveled extensively in the Far Est, the Middle East, America, South Amrica and throughout the South Pacific. She wrtes for fun and for money whnever she can manage it.

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