Sunderland students need money lessons from their parents

Tracey Bleakley
Tracey Bleakley
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PARENTS of more than 1,500 Wearside students heading off to university this autumn are being urged to sort out their money issues.

Tracey Bleakley, chief executive of the Personal Finance Education Group is urging mams and dads to speak to their children about potential money troubles before they start their studies.

She said: “It is really important that parents in Sunderland seize this last chance to sit down with their children before they go off to university and help them think ahead to how they are going to manage their student finances.”

She added: “For most new students, university is the first time they will have managed their own money – and it’s crucial that they know how to make their first student loan last the entire term.”

Ms Bleakley said parents had a “key role to play” in teaching their children about how to manage their money at university.

“The Government-backed Money Advice Service’s guide ‘Managing Money as a Student’ is a great place for parents and university-goers to start,” said Ms Bleakley.

“In the longer term, we need to ensure that financial education is taught in all schools in Sunderland and across the UK to equip school-leavers with the skills they need to manage their money as they enter adult life.

“This is crucial for all young people, whether they are going into university, college or straight into the world of work.”

For help, visit www.pfeg.org.