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South Derbyshire MP in effort to improve kid cash education

By Burton Mail  |  Posted: August 14, 2014

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THE MP for South Derbyshire is championing efforts to teach youngsters about the value of money.

Heather Wheeler is urging parents to speak to children during the summer holidays to explain to them how 'you cannot spend what you do not have'.

It comes after the Mail yesterday revealed that nearly 7,500 children in Burton and South Derbyshire were living in a household drowning in debt.

Mrs Wheeler said: "In South Derbyshire, we know the importance of knowing about money and promoting practical financial education for our children.

"The Secretary of State for Culture, Media and Sport, Sajid Javid, has recently talked about his upbringing and how the lessons his father gave him about the value of money have stayed with him as a man.

"If we want our children to grow up free of the burden of debt and having the options open to them that a good credit score allows them to have, we need to make sure they know at least the very basics of managing money.

"It is a simple fact that you cannot spend what you do not have, and this is something that we need to highlight the importance of to our young people.

"The schools in South Derbyshire are doing a great job at incorporating this into their lessons but as Mr Javid says, it was his father's words that have stayed with him the longest."

A recent survey showed that, in South Derbyshire, a total of 79 people had asked for help with debts.

They racked up a massive £4,591,783 in personal debts, an average of £58,123.84 per person.

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