Call to teach children how to manage money
Schoolchildren should be taught practical life skills, such as the importance of managing money, saving a deposit and how to secure a mortgage, according to a director of a mortgage firm.
Kate Burns, director of Huddersfield- based KB Mortgage Services, said: “Home ownership levels are lower than they’ve ever been, with many young people believing that they’ll never even step foot on the ladder.
“Debt issues are simultaneously on the rise – Citizens Advice reported a 21 per cent increase in 2018 on the previous 12 months, for example. There needs to be a change in the way that we, as a nation, perceive money. And I think that the best method of achieving that is by teaching children the value and importance of it, from a young age.”
Her comments come on the back of a recent report by the Resolution Foundation which suggests that one in three millennials will never own their own home.