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Last Updated: Sunday January 03 2010 14:13 GMT

Kids to get lessons about money

Money

The Government wants schools in England to start teaching children how to manage money from 2011.

It's all part of a scheme to avoid a repeat of the money problems that happened all over the world in 2009.

Children aged five will learn how to recognise different coins and notes and how to save money.

Seven-year-olds will learn about how to manage a bank account and secondary school kids will be given advice on credit cards and mortgages.

What the Government wants kids to learn
5-7 How to recognise different coins and notes and how to save money
7-11 Managing bank accounts and how to budget
11-14 Credit cards, mortgages and loans
14-16 about debt and its effects

Schools secretary Ed Balls says it is important for children to learn about money matters.

He said: "It's vital that all young people leave school with a basic understanding of how to manage their money sensibly. "

The kind of stuff the lessons will cover will be discussed later this year.