UK government urged to implement compulsory financial education from primary school

Editorial

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Louise Hill, co-founder and CEO of GoHenry, reported that their analysis discovered 84% of youngsters and youngsters wish to have extra monetary training at school and that 68% of 18-year-olds are frightened about leaving college with none cash abilities.

In the course of the occasion, the corporate launched their Monetary Training Manifesto, which included 10 suggestions for monetary training for younger individuals together with educating monetary training from main college, make it obligatory in secondary college, and together with sensible parts not simply theoretical classes.

That is a part of a continous marketing campaign by GoHenry, having additionally made these calls in January 2024 and October 2023.

Hill stated: “Ten years on from monetary training being added to secondary college curriculums in England, it’s clear it’s not working. We’re nonetheless failing youngsters and youths on this entrance. Our manifesto outlines how we really feel monetary training could be delivered in a easy, environment friendly, and efficient manner, with out the necessity for vital public spending, main laws, or overburdening academics.”

Claire Hazelgrove, Labour MP for Filton and Bradley Stoke, famous: “GoHenry does essential work in supporting younger individuals to develop monetary literacy abilities. Analysis from the College of Cambridge has proven that monetary habits are sometimes shaped by the age of seven – but formal monetary training continues to be a postcode lottery. The place it’s on the curriculum a lot later, at secondary degree, many academics report a insecurity, capability, and sources to show it. There’s extra work to be finished to make sure that all younger individuals have the identical alternative to develop these foundational life abilities and thrive.”