Money talks as primary pupils are given lessons in looking after their money

Primary pupils across Scotland are to be taught how to look after their finances as part of an innovative new teaching resource unveiled yesterday.

The pack, called Talk Money, Talk Solutions, aims to tackle growing problems of debt in society by teaching children the basics of looking after their cash, budgeting and getting value for money.

It is also hoped the resource will help to improve numeracy as well as providing a good grounding for pupils who may want to pursue a career in the financial services.

Talk Money, Talk Solutions was launched yesterday at St Ambrose Primary in Milton, Glasgow, by children who helped pilot some of the activities.

Over the past few months children have learned how to run a sandwich stall to make a profit, save up money for a fun day, raise money for charity and discover what the best value for money was at a fairground.

The pack, which has been developed jointly by the Scottish Centre for Financial Education (SCFE) and the Clydesdale Bank, has deliberately focused on children learning through fun activities rather than simply looking at figures in a textbook.

Jim Lally, director of SCFE, said: "There are 108,000 jobs in the financial services sector in Scotland and 100,00 support jobs which shows how important this is.

"Paradoxically, we have some of the worst levels of financial exclusion in Western Europe and growing levels of debt. Some 12% of Scots have no current account and 37% of those who live in rented accommodation have no contents insurance. We have got to raise awareness of these issues."

Irene Swankie, Corporate Social Responsibility manager for Clydesdale Bank, said an imperative for the resource was improving financial awareness in the wider population.

"We want to start early - as early as possible - to try and address some of these issues. If people do not understand basic financial matters at an early age then they can run into problems later on."

She also stressed the importance of basic numeracy and problem-solving.

James Coleman, deputy leader of Glasgow City Council, added: "Glasgow is at the forefront as regards financial education and this is an ongoing programme.

"This impacts on all sorts of issues in Glasgow. Many of our pupils are from families where the parents have never worked and there isn't the experience of financial planning for them to learn as they grow up. This resource gives them that."