OUR children and young people are growing up in a world where they will one day have to make difficult financial decisions. With more financial products and ways to spend money than ever before, these decisions have become increasingly complex.

Citizens Advice found the average user of financially risky products such as payday loans, which have become very popular in recent years, is between 20 and 35 years of age, on a very low income and 87 per cent have other debt issues.

The average UK personal debt per adult was £29,379 in June, according to The Money Charity, continuing a long upwards trend. Around 247 people are declared insolvent or bankrupt in the UK every day, equivalent to one person every 5 minutes…

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