Simon Read: An insight into confusing financial terms and conditions

Do you understand financial terms and conditions? Or even bother to read them? Failing to do so could be costing you a packet. In fact, a typical consumer could be losing £428 a year, reckons the Money Advice Service.

Those forced to resort to payday loans are hit even harder, losing £1,405.

The findings come as financial education enters the national curriculum in several secondary schools in England this week.

It is hoped the move will lead to a generation that understands finance better and is better equipped to avoid the debt disasters that hit millions of people every year.

I went on the TV channel London Live – which is part of the same media company as The Independent – to talk about the issue this week. You can see the video of the discussion and more research into confusing terms and conditions at http://ind.pn/1lCBfb1.