Yes I agree totally - i used to work for a finance company & we provided store cards - i worked in the collections department & the amount of 18 year old that had been given a store card which they ran up as soon as the card dropped on they're post mat & then couldn't afford to pay minimum payment on was shocking

Even more shocking was when the parent's had to bail they're kids out of debt to stop all the collection calls & letter's that were coming to they're house

18 + year old's often dont know how to budget & over spend using cards & over drafts, the only way they learn is through exsperience & by then they will have paid these credit companies hundreds of pounds in charges & driven they're parents potty.

 jeni

dreading my daughter turning 18 !!!!!!!!!!!!!!!

My kids do.

My eldest has a cahscard current account and used to get her allowance monthly to budget as she wished.  She applied for, and got, a loan from the Royal Bank of Mother, which she paid back in full, to buy a computer.

I can no longer afford to give her an allowance, but I teach them all about running a bank account and budgeting and about conserving energy and ggreener ways fo living.  So I very much do undertake 'life skills' lessons with my kids.

My mum did the same for me.  I can't remember not knowing about how to manage my money; I've just never been any good at it!!!!

Spendaholic Cat

Absolutely, my teacher said to us when we were leaving school in the 5th year that we'd learnt how to solve complex equations, speak french, learnt about the kings and queens of england in history, but none of us knew how to even write a cheque!!! He thought back then (13 years ago) that it should have been on the syllabus.

Kids today have no idea about, current accounts, savings, mortgages or what the basic requirements of getting one are even. I think kids should be taught these as making the wrong decision financially could have serious consequences. The amount of people I've known to turn 18 and get a brand new car on finance is unbelievable. Even when they don't have a job.. fall behind on payments and the poor parents have to save the day.