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Financial Education in Schools

Our affiliate, TISA, have pulled together some key facts on Financial Education to highlight the rationale for providing effective financial education in schools. Hyperlinked bold text leads through to each research source so you can read more.

1

The Mental Health Foundation found that over 40% of UK adults have experienced financial worries and nearly a quarter of them said that these worries had a significant impact on their mental health. With mental health problems costing the UK economy at least £117.9bn annually, it is time for Financial Education to be given the due prominence in the national curriculum in all schools.

2

Only 1% of primary teachers think their students have adequate financial skills – Social Market Foundation.

3

84% of kids and teens want more financial education in school – GoHenry Manifesto

4

77% of children believing that financial education will help them when they are older – The Centre for Financial Capability (tcfc.org.uk)

5

If the Government were to prioritise financial education, it could inject an extra £7 billion into the UK economy each year – Financial education could double your child’s earning power | GoHenry

6

90% of UK teachers think that financial education should be taught in more than just maths lessons – https://www.young-enterprise.org.uk/talk-money-week-2024

7

Currently, 1 in 7 16-24 year olds are not in education or employment – the highest level of inactivity for a decade.  Catalysing productivity and growth: A change in mindset on financial inclusion | FCA

8

This year, 40% of students leaving school at 16 did not pass their GCSE Maths. Catalysing productivity and growth: A change in mindset on financial inclusion | FCA

9

Half of young people aged 18-24 are in debt and credit cards are the main source.  Three fifths of UK adults think children need to be aware of debt before 18th birthday – Tesco Bank

10

39% of adults (20.3 million) don’t feel confident managing their money, 11.5 million have less than £100 in savings and nearly nine million of us are in serious debt, and only around a third receive help. Key statistics on UK financial wellbeing and numeracy – FinCap

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