Recession teaches kids personal finance lesson - study

Children have been impacted by the recession as they learn core skills in how to manage money, a study has found.

Commissioned by HSBC and the Personal Finance Education Group (PFEG), the research found that 34% of children have overheard adults saying they cannot afford to buy something because of the financial climate.

As a result, their attitudes towards money have been affected, with 80% saying they would save up for something rather than getting into debt.

Wendy van den Hende, Chief Executive of PFEG, said: "We are working to improve financial education in schools to reinforce these instincts.

"It is good to see that parents also agree that this is important."

YouGov carried out the survey, which found that 29% of parents talk about money with their children more frequently as a result of the recession.

The UK is now officially out of recession, after seeing economic growth of 0.1%.

Posted by Ruth Bradshaw