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The impact of money management lessons

Why is teaching children about debt and money so important?

 
We spoke to Parish Church of England School in St Helens, who have become a DebtAware Accredited Money Management School, on their involvement in the programme and what benefits the lessons have had for their pupils. 
 

What happens when Debt Management Companies shut down?

Since the Financial Conduct Authority (FCA) assumed responsibility for regulating consumer credit firms in April 2014 and introduced tighter controls in order to raise standards in the sector, over 100 firms have closed their doors.

 

Financial confidence plummets

A recent survey of 104 companies has shown that optimism among financial sector companies has suffered a sharp drop.

 
The poll highlighted financial market instability, competition from within the sector and larger global economic uncertainty as the top three challenges facing financial services over the coming year.
 

How to Survive an “Income Shock”

Suddenly single or lost your job? Many people who realise they can no longer cope with their debt do so after a life event which causes a shock to their income.

 

Do these four things make you more likely to be in debt?

The Money Advice Service has released a report which tries to pinpoint who is most likely to fall into debt. 

 
Many people who suddenly become “over-indebted” (in other words they can no longer cope with their debt, versus people with debt who are managing the repayments easily) do so after a life event which causes a shock to their income; perhaps a divorce or severe illness.

What is the new Help to Save scheme?

The Prime Minister has unveiled an initiative to encourage people on low incomes to save. 

 
People on low wages will soon be eligible for a financial top up from the government of up to £1,200 over four years if they put money away into a savings pot.
 

Clampdown on individual responsibility for conduct and standards in the financial sector

The Financial Conduct Authority (FCA) has announced this week that two new schemes have come into force which will hold individuals working at all levels within the banking industry to appropriate standards of conduct, as well as ensuring that senior managers are held to account for misconduct that falls within their area of responsibility. 
 

Debt Advice Foundation calls for financial education in primary schools to halt rising consumer debt

As a leading debt charity, we believe that financial education needs to become a national priority to stem the tide of rising consumer debt. 

Why can’t I get a 0% interest credit card?

Are you trying to move your credit debt over to a 0% credit card with no luck? There could be one factor that you’ve not taken into consideration: whether you’re registered to vote.

Wesham School discusses benefits of financial education

We visited Medlar with Wesham Church of England Primary School near Kirkham, who recently became a DebtAware Accredited Money Management School

 
The materials used in the programme have all been created by secondary school aged children, and include diaries, films, PowerPoint presentations, badges and quizzes. To gain accreditation, schools have to meet stringent requirements and prove that the programme is fully embedded in their teaching. 
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