MILLIONS of adults are facing mounting financial problems as the recession bites.

As times become tighter lots of businesses have focused on profiting from the monetary misery of many families.

Payday loan companies, for example, are thriving.

It looks like balancing the books is going to be even more difficult for tomorrow’s adults thanks to the multitude of methods being dreamt up to part young smartphone owners from their own, or more likely their parents’, cash.

With this in mind the ‘money lessons’ devised by a retired Chorley headmaster seem to be a really good idea.

The scheme is being rolled out across East Lancashire in both primary and high schools.

As well as teaching about the value of saving and budgeting lessons will also educate children about ‘money risks’ like online gambling.

Teachers are said to have been ‘astonished’ at the technological knowhow of some youngsters who understand how to use their parents’ debit or credit cards online.

The fact that they have this knowledge makes it even more essential that youngsters learn why they mustn’t spend, spend, spend.