A report by Friends Life has found that 83% of people do not feel that enough is being done to educate people about financial matters. 63% said they wished they had received financial education in school and 65% thought that financial education should be provided in the workplace.
The study also found that 48% of people disagree with the suggestion that the nation’s children will be more financially savvy than previous generations, while only one in five people agree.
Friends Life also suggest that a lack of financial awareness means that increasing numbers of school leavers and graduates have no idea where to go for advice on pensions – over 65% of 18-24 year olds did not know how to get this advice.
Source: Credit Action – January 2012 edition