Editorial/Opinion

It’s Time To Put Financial Literacy Front Of Mind

The cost-of-living crisis has exposed an urgent need for stronger financial education. Sharon Davies suggests how schools can better prepare children with the financial capability tools to thrive in later life.
Primary school girl being given money by her mother

Money talks

It is clearer than ever that consistent access to financial education must be prioritised if we are to address financial wellbeing in the UK. The ongoing impact of a cashless society, high inflation and a biting cost of living crisis has made the UK’s young people especially vulnerable to financial challenges.

With more and more financial transactions taking place online alongside increasingly sophisticated digital fraud, young people need to be equipped with the knowledge and skills to develop responsible money habits and make more informed financial choices.

In the last few months, a barrage of data has revealed just how complex the situation truly is. According to the Social Market Foundation, just 1% of UK primary school teachers believe their students possess adequate financial literacy.[1]

Young Enterprise’s own data reveals that a third of primary school students and over half of secondary school students in the UK do not receive adequate financial education – despite 67% of teachers believing their schools are covering it.[2] What’s clear is that many do not know where, or with whom, the responsibility lies for educating our young people on this topic.

<--- The article continues for users subscribed and signed in. --->

Enjoy unlimited digital access to Teaching Times.
Subscribe for £7 per month to read this and any other article
  • Single user
  • Access to all topics
  • Access to all knowledge banks
  • Access to all articles and blogs
Subscribe for the year for £70 and get 2 months free
  • Single user
  • Access to all topics
  • Access to all knowledge banks
  • Access to all articles and blogs