Include more financial education in secondary school curriculum

Background

Introduce some mandatory focus on basic world-applicable financial skills including but not limited to: long-term investment, pension planning, risks of debt and borrowing, budgeting and taxation. We do not believe teenagers are being aptly prepared for financial independence.

Additional details

We think the majority of 17/18 year olds coming out of the school system feel overwhelmed by the imminence of independent life. A major contributor to this feeling could be a lack of financial literacy. We are concerned that there is widespread inability to properly manage personal finances, resulting in a lack of monetary growth, often paired with overpaying for financial services. 1 in 6 UK adults have no personal savings, and only 23% hold any stock market investments. Financial education needs to improve in the school system.

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