There have been calls for more personal finance lessons in schools, to help prevent young people falling into a spiral of debt when they get older.
But how much do they already know? The BBC talked to a group of six pupils, all aged nine, from Cedarwood Primary School at Kesgrave, near Ipswich, about money matters. They were: Grace, Caitlyn, Keyara, Edward, Verity, and Ben.
Below are their answers to the question
How much does a house cost?
V: £1,256.
E: £20,000.
K: £50,000.
C: I would pay £3,000 for a big house, £2,000 for a middle-size house, and £1,000 for a bungalow.
G: I would spend £55,365.01.
E: The 1p is vital
B: It is about £2,500 for a house.
BBC Rep: Do you know an average house costs about £150,000?
G: Now I know why my mum keeps on saying that we are poor!
How are we going to raise all that money?
V: Work, or get two jobs.
E: Leave it to my dad.
G: Ask your mum and dad, but they might be retired...
C: ...Will they get money?
G: Yes, the taxes you pay go to the retired people to live.
C: My nanny and grandad love me because when they look after us they get about £20 a night.
BBC Rep: Who else can we ask for money for our house?
B: If you have a credit card, can you withdraw it from the credit card?
BBC Rep: If I borrow money on my credit card, what happens?
K: It comes out as a bill. My uncle said one day that he would teach me to be a lady who uses her money properly, so he asked for £1 and said he would give it back, but with a bit more.
G: If I borrow money off my mum, I wait so long that she forgets about it. But when they borrow money off me, I never forget.
E: I'm on exactly the same track. I keep quiet about owing my mum.
V: How much does a manager of a supermarket get? In Sainsbury's, I think Mr Sainsbury's gets all the money?
K: But he's dead?
All: Is he?
V: There is also Mr Tesco...
G: ...And Mr Budgens.
E: I've heard of Mr Bean
Yes I think they're on track to make the same mistakes !
Until the next time,
Mr Jackson.
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