More than three quarters of Oxfordshire kids leave school without knowing how to manage their money
A new survey's found three in four teachers think students leave education without the financial skills needed for adulthood
It follows a Money and Pensions Service (MAPS) survey which found that three in four teachers think students leave education without the financial skills needed for adulthood.
East Midlands Partnership Manager at the Money and Pensions Service Paul Rhodes told us about his own experiences:
"I got into a small amount of debt and I wonder if I'd had better schooling about debt, if I'd made different decisions."
"Children who have a financial education feel more confident with more, more able to talk about money, and they're more likely to save and have a bank account."
What do teachers in the East of England think?
Based on 81 teachers surveyed by MAPS:
99% think it’s important that schools teacher their students about money
When do you think it should start? Nursery/pre-school (21%), Primary ages 5-7 (50%), primary ages 8-11 (17%), secondary ages 11-16 (11%), sixth form/college (2%), don’t need to (1%)
77% think most young people leave school/college without the money skills they need for adulthood
Why do they think this is happening?
Other subjects take priority (91%)
Teachers don’t know where to find the right resources/support (29%)
Not enough confidence and skills among teaching staff (23%)
What's the Government said on this?
The Department for Education says financial knowledge is already a compulsory part of the national curriculum for those aged between 5 and 16 - in Maths and Citizenship.