The majority (60 percent) of 5-11 year olds struggle with basic personal finance terminology.

Meanwhile, barely a third delay instant spending gratification and just 19 percent save money regularly.

These findings come from the KickStart Money programme, delivered by education charity MyBnk.

According to the Money and Pensions Service, over 20 million UK adults cannot manage their money: 11.5 million have less than £100 in savings and nearly nine million are in ser...