Three quarters of Brits claim they received either inadequate financial education at school – or none at all. <br /><br />The study, of 2,000 adults, found 62 per cent would be 'more likely' to send their child to a school specialising in this subject as a direct result of their own lack of education in money management. <br /><br />More than two-thirds (69 per cent) blame this knowledge gap on their difficulties navigating the current cost of living crisis. <br /><br />When asked what one piece of advice they would pass on to children around managing their money, the top answer was to not spend beyond your means. <br /><br />The study was commissioned by Santander UK, which has partnered with Twinkl, to launch the Financial Education Recognition Scheme, [https://www.twinkl.co.uk/recognition], for schools which commit to teaching financial education each year. <br /><br />Mike Regnier, of Santander UK, who helped launch the scheme by co-hosting a lesson on this subject to pupils at Hazelbury Primary School in North London, said: “We see daily the impact that poor money management can have on people’s lives. <br /><br />“Our research shows the importance of financial education in shaping children’s futures and ensuring they can manage their finances confidently in adulthood. <br /><br />“The Financial Education Recognition Scheme will give the deserved credit to schools that participate in vital financial education for the next generation.” <br /><br />The study also found just 26 per cent of adults aged 18 to 34 received ‘sufficient’ financial education while at primary school - rising slightly to 29 per cent during their time at secondary school. <br /><br />But these figures were much lower among those aged 55 and above - primary school (four per cent) and secondary school (six per cent). <br /><br />And it emerged the number one thing everyone polled wish they’d learnt at school in relation to money is savings and pensions (52 per cent). <br /><br />While 57 per cent believe they could have made better financial decisions during adulthood if they’d been better educated in their formative years. <br /><br />Jonathan Seaton, CEO of Twinkl, which works with Santander to deliver The Numbers Game - free, curriculum-friendly learning materials created by teachers, said: “Understanding money and how to manage it is a key skill used throughout life. <br /><br />“And this is why we are so passionate about seeing this taught from an early age.” <br /><br />Since 2022, The Numbers Game has been used by more than 100,000 teachers within 8,300 schools and benefited an estimated 1.9 million children and young people across the UK.
