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Bank charges: Teenagers 'throwing pennies away'

While many adults worry how they will pay off loan charges and meet credit card claims, some teenagers throw their pennies away.

Specialist journalist Martin Lewis wrote in a blog at MoneySavingExpert.com that many young people "treat copper coins as rubbish".

Describing this behaviour as "jaw-dropping", he noted this displays a lack of comprehension regarding financial matters and "looking after the pennies", as well as a disrespect for money.

The expert suggested that youngsters who do not want to keep these low-value coins put them in a charity collection jar.

Shops could ensure they have one of these next to their till, Mr Lewis continued.

He argued that the "sheer waste" of throwing pennies away is frustrating, pointing out the practice bolsters claims that schools should provide financial education to pupils.

According to recent research from the Chartered Insurance Institute, only 27 per cent of students believe they have attained basic skills in budgeting through their education.

Charles Baker
Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801387668-ADNFCR



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