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LATEST NEWS & EVENTS New financial awareness 'may reduce risk of insolvency'  Consumers may be less likely to enter into insolvency now as a result of the recession, comments made by one expert suggest. According to Gary Millner, director of operations at the Personal Finance and Education Group, young people have become more money conscious due to the economic difficulties. He said: "People will learn lessons from any sort of crisis especially when it's one that affects them personally or one that they can see affecting and impacting on others." The expert went on to state that money education in schools is key to ensuring the UK's younger population grows up with the ability to balance their budgets. Mr Milner made his comments in the wake of the publication of research conducted by Natwest, which revealed that compared with a year ago teenagers are significantly more considered in how they plan, budget, spend and save. It found that more than two-thirds of 10,000 such people polled said their ability to manage their finances has improved since the onset of the credit crunch. Rick Munro, head of corporate recovery and insolvency at Lamport Bassitt, said: "It is encouraging to see people taking control of their finances in an uncertain economic climate. "However, for those still facing debt problems it is important that they seek advice early." 
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