Martin Lewis: How to teach your kids about debt (& why financial education matters)

Speaking to the Young Money charities annual centres of excellence conference, MoneySavingExpert founder Martin Lewis runs through his Good Debt, Bad Debt quiz, and the need for financial education in our schools.

This came just before the announcement that Martin was to fund Young Money to produce and distribute 500,000 copies of the first curriculum mapped financial education textbook.

[thyatron]

Martin your presentation was over far to soon, but a great thumbs up to you.
The average person can learn so much from you this is sound advice to anyone that's watertight, logical and is easy to understand and easy to put into everyday life.
The average adult whose debit laden doesn't think far enough ahead about there obligations and usually always comes up against shortcomings and long term uncertainty stress sleepless nights arguments etc. especially when the rent/mortgage is due with attention to the finer details of the obligations and bills a lot of the daunting problems that accompany debit could be a lot less stressful for a lot of people if they even if they only put a tiny amount of your fantastic sound advise in to practice.

[maxinechivers]

Well done Martin Lewis for your excellent presentation. I went to university in the 1990 s. My school hadn't taught me about finances. Banks and credit card companies were all signing up lots of the students. Credit card companies should show the person how much they would have to pay if they were able to pay their debt off in one year. With a £3, 000 the best amount would be £250 a month I know now and not the minimum payment. Mortgages are very rigid compared to a credit card. These rules make it very hard to pay it off in 5 or 10 years. My mortgage was a five year fix at 4.09% interest in 2012. I was annoyed as interest rates went very much lower. If I remortgaged my home I would have had to pay 5% of my balance. Now mortgage free I need to be able to make and keep a budget.

[rizalukman]

I am glad that I study banking and finance in my university.I understand how credit card Loan, car loan, and home Loan work

[JivanPal]

Great presentation! Why the re-upload, though?

[tomasbro]

Looking for a bank that will let me save 5grand on a compound interest account..any help advice any1.🍀

[benalias]

If someone earns £5k a year and wants to take a payday loan for an expensive holiday, I'm betting they're pretty-much judgement-proof, in which case it might just be a free holiday at a scammy lender's expense...