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Initiative announced to support Scottish people in debt More Scots with extreme credit card debts, charity reports Govt actions `could lead to debt for pensioners` Middle-class families in south-east `most in debt` Scottish bankruptcies double BBC Scotland looks at effects of debt on health Scotland avoids house price decline Optimism for Scottish economy Demand for staff in Scotland highest in UK Scots `faring better from credit crunch` Scottish markets "remarkably robust" Crunch `affecting Scottish consumers worse` Scots `feel inflation to be 8.4 percent` Scots calm as UK `goes switching crazy` Scottish house prices `dropped at end of 2007` Debt problems grow for Scots as bankruptcies soar Scots `positive` over new year debts Generous Scots spreading festive cheer Areas of Scotland `most indebted in the UK` Scottish house prices soar

Book `teaches young people in Scotland about debt`

27/06/2007

A new book has been introduced to classrooms in Scotland which aims to help children learn how to manage their money, it has emerged.

On the Money is a collection of stories with messages about debt, saving and financial habits that young people can act out in groups or read on their own, the Mail on Sunday reports.

When asked about the lessons the programme offered, children told the publication that they had learned not to use credit cards too much, to avoid debt and to put money in the bank to earn interest.

Jim Lally, director of the Scottish Centre for Financial Education, remarked: "Attitudes to money develop early in life.

"At this stage, financial education is not about teaching the difference between a direct debit or a standing order. It is about instilling concepts like budgeting, saving and enterprise."

The new scheme comes as data published by the Liberal Democrats reveals that the average UK household spends nine per cent of its income on interest charges - the highest proportion of the past decade.

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