Schoolchildren to get better financial education

At Money Wellness, we’ve long believed that understanding money shouldn’t be something you have to learn the hard way. So we’re absolutely delighted to hear 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. It’s the first big shake-up of the curriculum in more than a decade, and one that promises to give the next generation a stronger foundation to manage their finances and their futures.

Why it matters so much

Every day, we speak to people who are struggling with money. Too often, those problems are exacerbated by a lack of financial education. Our ongoing survey of people seeking help from us paints a clear picture:

• 94% didn’t receive any financial education at school
• 80% felt it would have helped them manage their money better
• 77% said learning about budgeting would have made a difference
• 68% wished they’d been taught about credit and debt
• 62% believe they would have benefitted from lessons on saving

These aren’t just numbers. They’re real people convinced their lives could have turned out differently if they’d understood how money works.

Des’s story

Take Des, for example.

After a serious accident left him unable to work, Des found himself relying on universal credit and struggling to keep up with repayments on credit cards and loans totalling £25,000. We helped him set up a debt management plan and made sure he was receiving all the benefits he was entitled to - an extra £140 a month.

But Des is clear that things might never have reached crisis point if he’d had better financial education growing up. One of his debts came from a business loan he was tricked into taking out as part of a Ponzi scheme - something he believes he could have avoided with more financial know-how.

“When I look back on it, some of the struggles I had, especially when I married early and had kids, I didn’t know what half of the stuff meant, like mortgages, and ended up getting sort of done over on one… It should be taught — it’s the main thing in life. It should be on the curriculum at school, definitely.”

A big step in the right direction

We’re thrilled that policymakers have finally listened to what parents, young people and organisations like ours have been saying for years - that financial literacy is an essential life skill.

The review behind these reforms found that financial education was the most highlighted area of importance by parents, and the one topic consistently raised by young people

Building a financially confident future

While the changes won’t happen overnight, this announcement marks a huge step towards a more financially resilient society. By teaching children about money - from understanding budgeting and debt to spotting scams and making informed choices - we’re setting them up for brighter, more secure futures.

We’ll continue to play our part, campaigning for meaningful, practical financial education and supporting those who didn’t have the chance to learn it at school.