Teaching finance ‘more important than history and science’, finds new report

Teaching kids about money is more important than learning history or science, according to a new report.

A study by Santander, named the ‘Currency of learning: Global perspectives on financial education’, asked people in the UK, US, Brazil, Argentina, Spain, Chile, Portugal, Mexico and Poland which school subjects matter most. Financial education came second only to maths.

The bank also asked people how confident they feel about money. The study found:

• 71% of Brits say they’re fairly or very knowledgeable about financial matters, compared with 61% worldwide
• 48% of people in the UK wish they’d been taught more about pensions
• almost two-thirds want to understand investing better

Financial education coming to all schools

The report follows the government’s announcement last month that  financial literacy will become compulsory in all primary and secondary schools from 2028.

It’s the biggest update to the school curriculum in more than ten years, and it’s designed to give young people a stronger foundation to manage their money and their futures.

Why It matters

At Money Wellness, we’ve long believed that understanding money shouldn’t be something you only learn through mistakes.

Every day, we speak to people who are struggling financially, and a lack of money education often plays a major part. Our ongoing survey of people who come to us for help shows:

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

With money playing such a big role in everyday life, teaching these skills early could help future generations avoid stress, stay in control, and build a more secure financial future.