SCHOOLS are being urged to take part in a free charity scheme to help children learn about money and improving their financial capability.

MP for Eddisbury, Stephen O’Brien, has called on primary and secondary schools to talk about money in the classroom via national charity Personal Finance Education Group.

The charity has sent each school Get Money Smart posters and teaching materials after MoneySavingExpert.com’s Martin Lewis made a personal donation to fund the campaign.

Financial education will be taught in secondary schools as part of the national curriculum from September 2014, something Mr O’Brien is backing.

“It is never too early for children to learn how to put numeracy skills to good use in managing money, budgeting, learning how to live within their means and taking responsibility,” he said.

“From a child’s first pocketbook to a hedge fund, managing one’s finances responsibly is a life skill – I have always been a strong supporter of PFEG and am glad they are getting fully involved in our schools in Eddisbury.”

The Get Money Smart posters are designed to encourage class discussions about things children can do to learn about money and personal finance. Ideas include checking your change, estimating the cost of a weekly shop, comparing mobile phone tariffs and planning and budgeting for a trip.

Children are encouraged to come up with a fifth idea and share it with classes across the country on Twitter using #5thingstodo.

Tracey Bleakley, chief executive of PFEG, said: “We are thrilled to have the support of Stephen O’Brien MP for this free new scheme for schools. “I hope all schools will seize the opportunity to use their Get Money Smart posters to bring money to life in the classroom. “This is a crucial topic that every young person should learn. Getting pupils talking about money and the financial decisions they will face in the future is a great way to start.”