Do you want kids to learn about money at school?

Most British adults believe children should be taught about money - as they wish they’d learned about it when they were kids.

New research from People’s Pension shows that nearly nine in ten adults (85%) think a lack of financial education will make everyone poorer.

And an even higher number (91%) go as far as saying future generations are being failed if they don’t learn about money.

So what’s behind this strength of feeling?

Well, eight in ten (80%) say they wish they’d received financial education themselves at school.

Why financial education matters

Many of these people will be speaking from experience.

After all, getting your head round complex financial concepts and making big financial decisions can be really daunting, regardless of your age.

And some will feel that if they’d been better prepared, they might have made different choices and avoided certain problems.

Money Wellness has long argued that financial education in schools needs to improve, as it can help people manage their money, make informed decisions and plan for a secure future. 

Having a greater understanding of money-related concepts, such as budgeting, saving and debt management, also helps people make better choices and achieve their financial goals. 

Learning about money makes a big difference

Our own research shows that many of the people who’ve come to us for help wish they’d been taught about money much earlier.

More than nine in ten (94%) of the people we asked said didn’t get any financial education when they were younger.

But notably, 80% said they thought it would have made a difference to their situation.

And when asked what particular topics would have helped them manage their money better, 77% said budgeting.

This was followed by understanding what credit and debt is (68%) and how to save money and why it's important (62%).

These aren’t just numbers. 

They’re real people convinced their lives could have turned out differently if they’d understood how money works.

School curriculum is set to change

Thankfully, progress towards greater financial literacy is being made.

The government recently confirmed that financial education will become compulsory for all primary and secondary school pupils in England as part of a major overhaul of the national curriculum.

From September 2028, money matters will be taught as part of compulsory citizenship lessons - alongside other vital life skills such as spotting fake news and understanding climate change.

We’re really happy that ministers have listened to what parents, young people and organisations like Money Wellness have been saying for years.

Financial literacy isn’t something that’s nice to have - it’s an essential life skill.