A leading industry expert has commented that financial education should be compulsory in schools, as it would help the debt problems in the UK.
Investment manager for Hargreaves Lansdown, Ben Yearsley commented that by educating monetary issues to children before they leave school, they would be less likely to find themselves in debt.
He added: "Kids should be taught about how credit cards work, where to get borrowing from, and what the impact of getting into debt means in terms of mortgage."