Financial education should be part of curriculum, says top IFA

Joe Phelan's picture
While an education statistician claims UK children are 'falling behind' in maths.

UK children are falling behind in maths due to ‘superficial learning’ and must become ‘more financially literate’, according to the OECD’s Andreas Schleicher.

Speaking in the Telegraph, Schleicher, a statistician and researcher in the field of education, said that UK maths lessons are ‘a mile wide and an inch deep’, and believes the UK system is over-complicated, meaning many children do not have a firm grasp of basic mathematical concepts.

Schleicher also believes that, in the wake of the global financial crisis, schools in the UK must put a greater emphasis on ensuring students are financially literate by the time they leave school.

We spoke to Caroline Anstee, financial education advocate and managing director of Anstee & Co Limited, who had this to say in the wake of Schleicher’s comments:

“Financial education is a basic skill in life. Everybody has to deal with money and, unfortunately, unless we learn the skill then people will continue to get into financial difficulty, or will not value the need for advice. Financial education should be on the national curriculum and tutored with maths to make it real.”

Recently we spoke exclusively to Conservative MP Andrew Bridgen, who also believes that young people must be educated on the importance of understanding their finances, and has pledged to raise the issue of financial education in Parliament.

He said: “It is essential that young people learn how to be sensible with their money. It is important they learn about budgeting and how to protect their finances. I feel that with the complex financial marketplace, students should be given the tools to make the right choices so they will avoid getting into unmanageable debt.”

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