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Third of adults struggle with GCSE level finance

8 May 2014 Last updated at 12:22 BST

A third of adults would struggle to pass a GCSE in financial education, a study has found.

The Open University asked 2,000 adults questions about savings, the cost of a loan and tax at a GCSE standard.

They claimed that when the subject is included in the National Curriculum from September, parents may rely on their children to help out with household finances.

BBC Radio 5 live's Stephen Chittenden visited Essex and tested two volunteers, Molly and Frances, on their financial knowledge.

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