This article is the latest part of the FT’s Financial Literacy and Inclusion Campaign
“Why don’t they teach us about money in schools?” is the frequent refrain of adults who approach me for advice about their financial problems. The good news is that in future, all schools in England will have to, starting from the age of five.
Making financial education compulsory was the number one ask of both parents and children who contributed to a wide-ranging overhaul of the curriculum announced this week — a rare point of generational unity.
The ongoing cost of living crisis has increased the currency of skills like budgeting and avoiding problem debt. But as the financial world becomes more digital and frictionless, parents feel ill-equipped to protect young people from the potential dangers. Almost half of 8- to 17-year-olds say they have been scammed online. With finfluencers peddling crypto on social media and ChatGPT becoming a tool for financial advice, giving young adults the skills to navigate and interrogate this brave, new, unregulated world is urgently needed.
Financial literacy charity
