Early Financial Lessons Could Prevent Future Debt Problems
Salford, United Kingdom, May 13, 2010 --(PR.com)-- Debt management company Gregory Pennington
has welcomed a report from Halifax which found that children are becoming increasingly interested in
their own money management.
The company said that this is one positive that can be taken from the economic downturn, and added that
a good financial education in early life could help to reduce the number of people getting into trouble
with debt in the future.
Halifax's report, which looked into financial awareness amongst 8-15-year-olds in the UK, found that
over two thirds (69%) of children would like to receive financial education from their parents, and a
further 18% want to learn from their teachers at school.
77% of children said they want to learn more about savings, while 24% are interested in learning about
credit cards and 13% want to know more about mortgages.
An expert at Gregory Pennington commented: "It seems the economic crisis has helped to increase
financial awareness in children as well as adults.
"It's great news to see so many young people taking such an active interest in their finances. A lot of
people who struggle with debt problems today say they never received a proper financial education, and
hopefully this will change following the recession.
"The more that young people understand about good money management, the more likely they are to
make responsible decisions in the future, and this could make them less likely to get into problems with
debt in later life."
Notes to Editors
Gregory Pennington currently helps over 50,000 people clear their debts through its Debt Management
Plan. The company is part of the Think Money Group, one of the UK's leading financial solutions
Gregory Pennington are founding members of DEMSA, the Debt Managers Standards Association, which
was established in 2000 'to promote good practice in the debt management industry'. DEMSA's code of
conduct has received Office of Fair Trading approval, under