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Hope For The Future

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Throughout the global financial crisis, many people have asked whether our children will make the same mistakes.

There have been calls for more personal finance lessons in schools, to help prevent young people falling into a spiral of debt when they get older.

But how much do they already know? We talked to a group of six pupils, all aged nine, from Cedarwood Primary School at Kesgrave, near Ipswich, about money matters.

How much does a house cost?

VJ: £1,256.

EC: £20,000.

KA: £50,000.

CP: I would pay £3,000 for a big house, £2,000 for a middle-size house, and £1,000 for a bungalow.

GB: I would spend £55,365.01.

EC: The 1p is vital

BK: It is about £2,500 for a house.

Rep: Do you know an average house costs about £150,000?

GB: Now I know why my mum keeps on saying that we are poor!

Hopefully they retain this wisdom as they grow up ;)

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Personal finance lessons my @rse. What's more powerful, mum and dad out flashing the card to buy new toys for themselves and junior, racking up credit and teaching that you can have it all now, or 40 mins a week in school teaching kids how to be responsible consumers?

Edited by polythene pam

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have to agree with you there Pam. My daughter's tears flowed when I told her I couldn't afford a £180 swing/climbing frame for the back garden. She said it was "only £180" and that mummy would be able to afford it....(I'm divorced from my ex) so I said fine....go get mummy to buy it.

Kids need to know the value of money....yet an hour later I bought her a £1.50 jar of cockles and she was all biz. I know the climbing frame wouldn't have much use in the Summer weather we have here

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