School children get lessons in money

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WEARSIDE MP Sharon Hodgson is calling on schools to help pupils learn about their finance.

Every primary and secondary school in the country is being given the chance to take part in My Money Week, which runs from June 3 to 9 and was put together between national charity pfeg (Personal Finance Education Group) and Barclays.

Oxclose Community Academy, St Robert of Newminster and Wessington Primary School have all signed up to the scheme, and Washington and Sunderland West MP Mrs Hodgson hopes pupils will see the benefit.

She said: “There is a real problem at the moment with people taking out high-cost credit and ending up in large amounts of debt.

“I’d love to see the appalling interest rates on pay-day loans capped, but we can and should also do more to teach people about how to avoid getting into that situation.”

She added: “Schools should therefore teach pupils the crucial life skills of managing money and understanding loans and the dangers of getting into unaffordable debt, and I therefore hope that more will sign up.”

My Money Week aims to improve young people’s financial skills, knowledge and confidence through special lessons and activities.

Teachers can order free ativity packs at