Keeping young people out of debt
A scheme has been launched to help parents educate their children about money to help them avoid getting into debt.
The initiative, Quidz In - Raising Financially Confident Kids, is aimed at the parents of eight to 15-year-olds to help them teach their children about saving, spending, good and bad debt and the difference between wanting and needing something.
It consists of a six-session course to help parents understand personal finance issues and to enable them to answer questions about money from their children.
It has been drawn up by charity Care for the Family and has the backing of former Conservative Party leader Iain Duncan Smith.
Recent surveys have revealed worrying financial trends among young people, with one from Axa showing that nearly half of young people would take out a credit card as soon as they were 18.
A study by Credit Action found that two-thirds of 16 to 25-year-olds felt they had been pressurised into taking out credit they did not want or could not afford.
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