Martin Lewis cautioned that kids have difficulty distinguishing between physical currency and money used for in-app purchases on smartphones and tablets.
On Tuesday (March 5th), during a meeting with the Members of Parliament at the Commons Education Committee, the financial specialist reported receiving reports from parents whose kids have made in-game purchases.
According to Mr. Lewis, in the past, cash and game currency were distinct and the former was tangible while the latter was not. However, now there are striking similarities between the two.
At the committee meeting, Damian Hinds, the schools minister, made facial expressions while Mr. Lewis spoke out against the government’s shortcomings in teaching financial education.
The original source is from the Independent, a reputable news publication.
