The Personal Finance Society (PFS) has pledged to raise financial awareness among young people after research suggested hundreds of thousands of school leavers think an ISA is an accessory for an iPod.
It is joining forces with the Personal Finance Education Group (PFEG) and is asking members to volunteer their time to give pupils insight into the financial world.
Volunteers will participate in a one-day training and development course, after which they will be partnered with local schools.
Activities already include Deal or No Deal sessions, helping pupils learn about choosing a mobile phone contract, and a 'Stock Market Challenge' day, where pupils become investors in a role-play simulation of the stock market.
"It is essential we are able to give our next generation the understanding, skills and confidence to make everyday financial decisions," says Paul Lothian, chartered financial planner and president of the PFS.
Wendy van den Hende, PFEG chief executive, adds: "With 90% of teenagers worrying about money on a daily basis, improving their financial capability will give them the fundamental skills and knowledge in financial matters to participate fully in society."
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