In the UK we could certainly use a lesson in debt management, given that the total amount of personal debt is one and a half TRILLION pounds and in 2009, over 134,000 people became insolvent. This severely lacking personal finance sense is something that the Government is planning to try to resolve but not amongst the over 18s!

Nope, not for adults, but instead the Government has announced that money management classes and lessons in personal finance are to become a part of the National Curriculum, which means such lessons will be compulsory for kids in British schools from as young as five years old.

This has promoted a particularly positive response from debt advisory charities and groups who have been saying for years that this is essential. But of course there are also those against the decision, claiming that children of five (the age at which the lessons look set to start) are too young to be learning finance. However, if the lessons are made accessible for that age group and fun, then the long term benefits could be massive.

But what about the adults, Prime Minister? It seems there are no plans for a large scale debt education programme for the grown ups. Yes it's the adults who make up the massive personal debt mountain in the UK. Nobody is suggesting that the Government should force the over 18s back into a classroom, but one would think that the provision of large scale money management classes (free and optional) for adults would be a good idea. This is something that should in the least be introduced in towns and cities that suffer a particularly high level of personal debt.

While one to one debt counselling sessions are widely available through the Government debt advice scheme, no large scale "classroom," type of setup yet exists for adults. There is no denying that it would be a pricey scheme to set up. But would it really amount to as much as the cost of personal debt will be over the next twenty years? Probably not.

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