New research from Nationwide Building Society shows that half of Britons say that had they been taught about money management when they were younger, it would have had a positive impact on their current financial situation.
The research supports the recent publication of the new draft National Curriculum for England, which will see financial education embedded in both mathematics and Citizenship education from September 2014. Three quarters of people in the UK think that adding financial education to the school curriculum will good for young people, according to Nationwide’s research.
Stephen Uden, head of citizenship at Nationwide, said: “With World Maths Day taking place on Wednesday, 6 March, now is a good time to ask ourselves – are we adequately preparing the next generation to spend responsibly?
“Our research shows that more than 75% of the population believe that it would be beneficial for young people to be taught about financial planning in schools, so it is a fantastic development that financial capability will be a statutory part of the curriculum for the first time.
“At Nationwide, we believe that it is essential to stimulate and raise awareness of the importance of financial education amongst children and young people. As such, we have developed Nationwide Education (www.nationwideeducation.co.uk) – a website of free programmes and educational resources for parents and teachers that engages children and young people through fun, interactive games that contain serious messages and link into the curriculum.”