Most adults feel they missed out on financial education

By Christine Dawson

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Nov 13, 2018

Over three quarters of UK adults said they did not receive financial education at school, but most wish they had.

According to research commissioned by Quilter, 77 per cent of adults surveyed said they did not receive financial education at school, or could not remember it being available.

Of that group, 79% wished they had had the opportunity for financial education at school, says Quilter.

This week is Talk Money Week, previously known as Financial Capability Week, and Quilter says we need to start talking about money from a young age and financial education should start in primary school.

Almost all, 98 per cent, of Quilter’s survey respondents said financial education should be taught in school, with 41 per cent saying that should start in primary school.

Quilter, corporate affairs director, Jane Goodland says the lack of financial education is concerning:

“Over the past number of years we’ve seen a disturbing number of statistics on the financial fragility of UK household finances. Despite this financial education remains worryingly absent from the school curriculum.

“Common sense would dictate that if we want to give the next generations the best chance at financial success we need to give them the tools and education to do so. Financial education isn’t going to fall on deaf ears, the population is craving it.

Goodland says a curriculum including financial education offer long-term gains for government:

“Part of financial education includes understanding value for money. The government needs to realise that financial education offers incredible value for money for them in terms of policy making because it treats the cause of the epidemic of under saving and reliance on debt rather than the symptoms.

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