The letter, which will be sent to the Department for Education and the Financial Conduct Authority (FCA), calls for financial education to be implemented in both primary schools and sixth-form colleges. Financial education was only introduced to the secondary school curriculum in September 2014.
The letter also calls for mandatory finance lessons in academies, private schools, and faith schools, where it is currently optional.
Despite the introduction of financial education, secondary schools in England only teach a limited number of money-centric lessons, because it has been added as a small part of the citizenship or maths syllabuses.
In contrast, Wales have introduced a rigid structure in which calculations in sterling are taught at primary school age, and harder topics such as compound interest are taught in secondary school.
Financial literacy is often learned in adulthood
Richard Wilson, chief executive officer of Interactive Investor, isn’t happy with the way financial education has been implemented. He believes that the number of children leaving school without a…
