Church plans savings clubs in primary schools

Written by Super User 22 Nov 2014

Children as young as four could have the chance to join savings clubs in an attempt to prevent them getting into debt later in life. The Church of England is proposing a network of clubs in primary schools, run by run by credit unions, to help raise children's financial awareness. Under the plans, they would be able to save small, regular amounts of money. They would also take part in running the groups, such as working as junior cashiers or bank managers. Parents and school staff could also sign up to the clubs, with mothers and fathers able to set up accounts to save for particular expenses, such as trips and school uniform. The Church says practical learning would be reinforced by classroom teaching materials. The proposed teaching resources would cover areas such as understanding the role money plays in our lives, how to manage money and managing risks and emotions associated with money.

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