Parents unable to teach kids say National Homebuyers
The UK is set to see a generation of adults struggle with financial difficulties because their parents are unable to educate them in money matters.
[UKPRwire, Fri Feb 15 2008] That is according Moneywise, which supports the idea of making financial education part of the national curriculum.
Rachel Lacey, editor of the magazine, said that children are more likely to teach their parents about money.
However, if these children are not receiving a proper education in money matters to begin with then they are likely to find themselves in financial difficulties in the future.
"Parents do have a responsibility to educate their children. But, as we can see from the problems at the moment, parents just don't have that knowledge themselves," commented Ms Lacey.
"Parents just don't know, so they're not in a position to teach their children at the moment.
"In an ideal world, yes, it would be brilliant if parents could provide this form of education, but aside from issues such as time, they just don't actually have this knowledge themselves," she continued.
Fast property sale expert Julian King adds, "It's a symptom of today's society that lives are run on credit agreements. What happens to the economy is largely out of the borrower's hands.
"People will get into debt and people will fail to act quick enough to prevent action being taken against them.
"Those having difficulty paying their mortgage should be aware that because of the current financial strain on the banks, there will be very little leaway from the banks to help those who default.
"Those facing a home repossession should act quickly to avoid the worst".
Mr King is a director of National Homebuyers, the UK's leading quick home sale firm, guaranteeing a fast property sale for vendors who need a quick sale. The company is also the UK leaders in providing Sell and Rent Back solutions.
Del.icio.us
Digg
Furl
Blinklist
Reddit