BBB advice on avoiding tsunami scams

In the aftermath of the Japanese tsunami and earthquake, the Better Business Bureau has warned people to be cautious when donating to charties following a rise in scams and fraudulent groups who try to solicit donations following major disasters.

The BBB have posted advice and tips. Full article via WGNTV.com.

Nicki, dbda

The rise in pay day loans

Since the credit crunch began in 2007 short term or ‘pay day’ loans have risen sharply with over one hundred online sites offering “quick cash”. With extortionate interest rates and quick online applications are we facing a new financial crisis?

Read the full story on the BBC: http://www.bbc.co.uk/newsbeat/12663243

The Forbes top money mistakes passed on to our children

Published in yesterdays (1st March) Forbes this article contains some interesting insights into the astuteness of children and the importance of leading by example, particularly when it comes to money management.

The big ‘no-no’s’ are not talking openly about money and leading by bad example. See the full article here, including interesting commentary from David Bach, an American entrepreneur who bought hist first stock aged seven: http://blogs.forbes.com/jennagoudreau/2011/03/01/top-money-mistakes-pass-to-kids-children-teach-lessons/

Schools fail pupils on financial capability

Schools are neglecting to effectively teach financial capability as part of personal, social, health and economic education (PSHE), a government commissioned report has found.

The study, by Sheffield Hallam University, found that school staff frequently viewed the economic wellbeing part of PSHE education as separate to wider PSHE teaching. This meant the subject was rarely properly integrated into PSHE lessons.

Financial knowledge is lacking, survey suggests

Two-thirds of those asked in a UK survey found financial matters too confusing to make the best choices with their money. The results of the Learndirect poll, of 3,000 people, have raised concerns about financial know-how at a time when family budgets are being squeezed. Some 80% of those asked were unsure which benefits and allowances they were entitled to. Others struggled to get value for money or understand small print.

Over 100 MPs to fight for financial education in schools

A massive All Party Parliamentary Group (APPG) on Financial Education for Young People launches today.

Over 120 MPs from all parties have joined, making it one of the largest APPGs ever (see the Teen Cash Class guide).

Their call is for compulsory financial education in schools, ensuring young people understand money, consuming and debt.

It has formed in response to the debt-ridden financial crisis and rise in tuition fees.

The APPG’s chair is Conservative MP Justin Tomlinson, and it’s backed by the Personal Finance Education Group (pfeg) and MoneySavingExpert.com.