Do you think money skills should be taught in school?
Three in four UK teachers think most young people now leave school or college without the money skills they need, according to new research from the Money and Pensions Service (MaPS).
In its poll of 1,012 teachers, carried out by YouGov, 76% said the majority of pupils finish their education without the financial knowledge they need for adulthood.
MaPS estimates that around 366,000 young people finish education annually, meaning hundreds of thousands each year could be leaving school financially unequipped. As a result, it’s asking everyone involved in financial education keep up their efforts to help reach the ones missing out.
Research already shows that children form money habits when they’re young and attitudes towards it start developing between the ages of three and seven, so MaPS says financial education needs to begin early in their lives.
Most of the teachers surveyed agreed, with a quarter (26%) saying it should start in nursery. Almost half (44%) said between the ages of 5-7 and 19% thought ages 8-11.
Less than one in ten (9%) believed it should only start in secondary school or later.
The poll, conducted in November, also revealed that almost all teachers (96%) think schools should offer financial education, with 76% deeming it “very important.”
What are your views? Do you think financial skills should be taught in schools? Who taught you how to manage your money?
