MANY adults probably do not know what to do with their FTSE or how to pick the right APR.

But in a new drive to tackle financial ignorance, the Citizen's Advice Bureau (CAB) is offering schoolchildren a course on money matters.

Pupils at Witton Park High, Blackburn, and across the borough are on a six-week course teaching tips and pitfalls.

Project workers Mumtaz Patel and Srraya Issa hope the two-year scheme will be rolled out across East Lancashire if it continues to get positive feedback.

"Teaching money in schools is about thinking about the concept of money, as well as the effects it has on all our lives," said Mumtaz, 31.

"In a material world where money has such importance it is essential that teenagers understand the cost of credit and borrowing.

"The lessons try and break down some of the jargon - APRs, money index, secured loans, net earnings compared to gross, a debtor, as well as informing them about services available, how to chose bank accounts, or how to prepare for university savings and managing money as an independent person.

"It also tries to prepare them for the costs ahead in every day life like water, rates, tax."

The course, backed by the Legal Services Commission and the East Lancashire Money Line, consists of hour-long sessions for Year 10 pupils.

"So far we have had good feedback. Pupils want to be in control and it is good for them to realise there are pressures and they have to control needs and wants.

"People are really ignorant about money. Parents need to try and be as pro-active as possible in encouraging children to get involved in family finances, even if it is sending them to pay the gas bill."