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Government does not 'give enough' debt advice

Government does not 'give enough' debt advice

- Monday, 22 November 2010

The government does not provide consumers with enough debt advice or guidance about how to handle their money, suggests an expert.

According to Jasmine Birtles, founder of moneymagpie.com and financial journalist who has appeared on TV, the government does not give enough advice about debt.

She said: "One of the reasons why we are in such a terrible state debt wise is that we have ignored basic principles of money management.

"We haven't been taught it in schools. It's only now starting to be taught and that's in a very basic way."

Ms Birtles wants the government to introduce a nationwide teaching programme and free advice about money matters.

However, until that happens parents can try to ensure that their children do not get into debt problems in the future by passing on their own financial knowledge.

M&S Money recently suggested that parents should explain the difference between good and bad debt.

This means teaching them that loans and credit cards can be useful as long as they are not abused.
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