The Just Finance Foundation wants to see financial education lessons become a compulsory part of school curriculums in the UK.
Executive director, Rowena Young told Premier: “Children are starting to develop their fundamental understanding, attitudes and behaviour towards money as young as seven.
“We’re working in some primary schools across the UK but really we’re [saying] that every child needs access to that sort of education.”
Just Finance is suggesting that money skills become incorporated into existing personal, social, health, and economic education (PSHE) classes in schools.
Leaders say the classes are particularly pertinent, given growing levels of financial insecurity and problem debt in UK.
Citing figures by the Financial Conduct Authority which show 40 per cent of UK adults have less than £100 in savings, Just Finance says problems with managing finance are becoming “a mainstream issue”.
Explaining how the lessons would work, Rowena Young said: “It’s about really understanding the dynamics of money and where it’s going, and it’s [about] thinking through the importance of putting a little bit away for things that are coming up in the future, not just living in the here and now.”
Most Rev Justin Welby is president of the Just Finance Foundation.
The Foundation…
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