23/03/2011 07:03 GMT | Updated 22/05/2015 06:12 BST

Is It Too Easy For Our Children To Get Into Debt?

children in debt A quarter of parents reckon it's easier for kids to get into debt than it was in 'their' day; according to new research from M&S Money.

In those early baby days you'd be forgiven for thinking the banks' are on your side when it comes to encouraging kids' to start saving; and there's certainly no shortage of them queuing up to offer a range of 'pocket money' accounts.

But even at this young age our kids stand to get a rough deal from the banks as many of these accounts lure kids in with gimmicks like cuddly toys or piggy banks more to mask the fact that they're often paying lower rates than other standard savings accounts.

But does it boil down to the fact that it's all too easy to get our hands on instant cash these days? After all the number of credit cards offering 0 in the past year, according to the financial website Moneyfacts, so it's becoming much easier to spend money we just don't have.

Ninety per cent of adults claim they never learnt how to manage their money at school, according to research from Natwest , so if we struggle to make sense of interest rates and repayments; it's easy to see how our kids can fall into the trap of adopting some of our 'bad' financial habits.

What money stuff do kids learn at school?

Compulsory financial education in schools is still on the Government's agenda, although earlier promises of lessons by September 2011 are looking less likely since the change in government. Right now the responsibility falls to independent organisations and charities who are working with many schools to increase money awareness.

• Natwest's 'Moneysense' programme has been going for six years and is used in over 60 of students are unaware that 'doorstep lenders' are much more expensive than other lenders; (with the average interest rate charged around" style="border: medium none; overflow: hidden; width: 450px; height: 35px;">
Do you think your child has any idea of finances?
Have you tried to help them understand money better?

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