Yorkshire Building Society has welcomed the Government’s announcement that financial education will be included as part of the national curriculum for all pupils in England – including those in primary school – following the Curriculum and Assessment Review.
The society has long campaigned for financial education to be introduced from an early age.
Research revealed that children begin forming money attitudes by age three, and by age seven many of their financial habits, such as planning and delaying gratification, are already set.
Financial education is not currently on the national curriculum for primary age school children in England, but it is in Scotland and Wales.
Some financial education is on the national curriculum for secondary school across the UK, as part of maths and citizenship.
One of the reforms recommended in the review is for financial literacy to be taught in compulsory citizenship lessons in primary schools.
Yorkshire Building Society research showed that 89% of parents agree that financial education should be taught in schools and over two thirds (66%) believe that children should start learning about money before the age of 10.
Chris Irwin, director of savings at Yorkshire Building Society, said: “This marks a significant step forward for financial education in England.
“By extending provision to all pupils – including those in Key Stages 1 and 2 – the Government is helping to ensure that every child has the chance to build strong financial foundations from the very start of their learning journey.
“At Yorkshire Building Society, we believe financial confidence should begin early. We’re committed to supporting schools and educators with practical resources that make financial education engaging, relevant, and reflective of the world children are growing up in.”
