This report from the Centre for Financial Capability highlights a stark gap between the perceived importance of financial education and the support teachers feel they receive to deliver it effectively in schools across England.
The findings reveal that nearly 90% of primary and secondary school teachers believe financial education is essential for students. However, 58% say they need additional training to confidently teach the subject, and only 12% feel they have a strong understanding of what 11-year-olds should know about money management as they transition to secondary school.
While financial education has been statutory in secondary schools since 2014, the report shows its integration into the curriculum remains inconsistent. Alarmingly, 40% of teachers are unaware it is part of the secondary curriculum, and over half (56%) say they are not delivering the subject at all. Among secondary school teachers, just 6% strongly agree that financial education forms part of their current teaching role.
This lack of awareness and training has led to limited progress in embedding financial literacy into school culture. Only 28% of secondary school teachers feel their schools have placed greater emphasis on the subject since it became mandatory, while 42% believe no change has been made.
The report also underscores the urgency of financial education in the digital age, with teachers observing that students face increasingly complex financial decisions, from in-app purchases to online gaming transactions. This reality amplifies the need for robust financial literacy to safeguard young people from financial harm.