Younger people do benefit from education specifically targetting financial capability, initial research results into the area by the University of Manchester suggest.
Reviewing the perceived performance and measurable factors linked to the experience of 14-19 year olds taking the ifs GCSE, AS and A level examinations, the university suggests it has made a marked difference to their ability to manage personal financial affairs.
The interim results of the resarch are based on a three-year study into those who have done the courses.
The ifs says the findings lend further weight to the need for policy initiative to take personal finance education beyond the governement's current proposals for a few hours attached to the mathematics curriculum.
The Tories have proposed further-reaching education, but have not defined exactly how personal finance would be tought to 11-18 year olds even if elected to government.
What is clear, ifs argues, is more schools and colleges need to think about taking up full courses to improve the finanical capability of younger people, especially in the face of industry marketing of products such as mortgages providers offering lending up to five times salary.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Jonathan Boyd on 020 7484 9769 or email [email protected].IFAonline
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