Financial education should be made compulsory in schools.
This is the opinion of 74 per cent of respondents to a survey by MoneySupermarket, while 22 per cent believe parents should take the lead when it comes to educating kids about money management.
Some 1.9 per cent do not think youngsters need any sort of financial grounding, while 1.8 per cent feel there are more important matters to be discussed at school.
Kevin Mountford, head of banking at MoneySupermarket, said: "Putting money away for a rainy day or an emergency does not only encourage independence, but can be a vital lesson on the importance of saving."
He added kids also have to get into the habit of budgeting properly so they understand how to balance income, expenses and savings.
When students head off to university for the first time, they will be faced with a range of credit options and so they should be aware of the consequences and charges of using them beforehand.