Financial education not adding up for primary schools As 80 % of teachers agree it’s a must

Four out of five teachers want financial education on the primary school curriculum
Nearly seven out of 10 think primary schools should do more to work with parents in teaching children about money matters
Two out of three teachers believe the rise of the cashless society is harming children’s mental arithmetic skills

Primary school teachers in England and Wales overwhelmingly want to see financial education placed on the school curriculum and believe that parents should receive more support in helping children understand money matters, new research from Prudential Cha-Ching¹ shows.

The study found 80 per cent of teachers want financial education to be part of the primary school curriculum while 69 per cent also believe schools should be working with parents to help children understand money. These findings were shared at a meeting of Parliamentarians, chaired by Julian Knight MP, who were looking at how financial education can improve social mobility and the importance of early intervention.

A major concern identified in the research is the impact of the cashless society on children understanding of money issues – 67 per cent of teachers say children’s mental arithmetic skills are suffering because of the reliance in our society on cards and not cash to pay for daily purchases.

The research found most teachers believe children do not know enough about money for their age. Around 81 per cent said 7-11 year olds do not know enough for their age group about money and personal finance. Just one in eight (13 per cent) think this age group have a good enough understanding about money and personal finance.

View full press release and editors notes

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