The government has made financial literacy a compulsory subject across primary and secondary school in England, the government has announced.<\/p>\n
This will encompass mortgages, money management, budgeting and compound interest, while it will come into force in September 2028.<\/p>\n
Becky Francis, chief executive of the Education Endowment Foundation and leader of the review, said: \u2018Financial literacy was the most highlighted area of importance by parents and the one topic that was consistently raised by every single focus group with young people.\u2019<\/p>\n
As it stands only a third of children remember learning about money at school, while financial education is only compulsory in local authority-run schools.<\/p>\n
\t <\/p>\n
There will also be media literacy teaching, including recognising fake news media, as well as teaching about climate change.<\/p>\n
Mark Harris, chief executive of mortgage broker SPF Private Clients, says: \u201cFinancial literacy is a life skill that can make all the difference between keeping on top of your finances or finding yourself drowning in debt.<\/p>\n
\u201cTeaching children these valuable lessons in the classroom will ensure that nobody slips through the net. However, they need to be taught properly in order to have a real impact so we would suggest going a step further \u2013 rather than teachers adding mortgages to their workload, we would encourage the government to invite mortgage brokers into the classroom.<\/p>\n
\u201cBeing at the coalface with real-life experience, brokers can better explain how the mortgage market works, how to borrow sensibly and seek independent advice, the importance of having a strong credit file and not overstretching yourself. This will ensure the next generation are much more clued up than their parents.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The government has made financial literacy a compulsory subject across primary and secondary school in England, the government has announced. This will encompass mortgages, money management, budgeting and compound interest, while it will come into force in September 2028. Becky Francis, chief executive of the Education Endowment Foundation and leader of the review, said: \u2018Financial […]<\/p>\n","protected":false},"author":1,"featured_media":5284,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-5283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\n