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Budget is a struggle

Students say they lack confidence in all areas of finance, according to a survey by Brunel University into the Excellence and Access project run by the Personal Finance Education Group (pfeg). The project is now being adapted for Scotland.

The views of their teachers mirror the findings - 29 per cent expressed confidence in their knowledge of current and savings accounts, bank statements and salary statements but this fell to 12 per cent for financial products.

The researchers state: "It can be concluded that there can be no great confidence about the general effectiveness of personal finance learning."

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