7 July 2008
The government is expected to reveal a plan of action that will see younger people taught about the perils of getting into debt, news that may be of interest to those with personal loans. And the My Money programme could lead to pupils being given advice on everyday living, allowing them to draw up a budget so that dangerous spending is limited, reports the Daily Mail. Such a move is being adopted as part of the Financial Credibility Action Plan, a joint move from the Financial Services Authority and the Treasury. Chief Secretary to the Treasury Yvette Cooper argued that something needs to be done so that the trend of large-scale personal debt is removed. "Many families are feeling the pinch as a result of high fuel and food prices and the impact of the credit crunch on mortgage lending," she commented. She added that it should be simpler for people to get hold of information when they fall into trouble. In related news, Christians Against Poverty stated last week that more middle-class people in the north-east are getting into debt.
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