Money skills and knowledge for our children remains a hot topic with a recent survey revealing the demand for financial education in UK schools is higher than anywhere else in Europe.
The research surveying more than 12,000 people, conducted for banking group ING, found that 88 per cent of UK adults thought that financial education should be taught in schools; and out of the 12 European nations polled, this was the highest amount. It was bad news for our neighbours across the Channel though, as demand for financial education in schools was lowest in France, at 63 per cent.
Interestingly, despite being the strongest supporter of financial education in schools, only 12 per cent of UK adults surveyed said they had been taught about money in class, lower than the weighted average of 13 per cent.
These latest survey results reaffirm the Government’s recent announcement of including compulsory financial education in the national curriculum in England for the first time next year. While it seems that England is slow to jump on board compared to Wales, Scotland and Northern Ireland, where personal finance is already being taught in schools, we feel this is still certainly a step in the right direction.
Here at goHenry we’re thrilled to see the continued spotlight on financial education for our children as they enter their formative years at school. And as parents, we passionately believe instilling money skills and knowledge early on will set our children up later in life.
While schools are taking positive steps towards teaching our kids to become more financially aware, we believe setting up learning opportunities at home are equally as important. To do so, providing the right tools within a safe environment to exercise and practice these skills (such as goHenry!) is vital. Learning by doing is fundamental to all we do at goHenry, as it provides ‘real world’ experience to develop the skills needed to manage money competently and to carry this confidence with them for life.
And as the saying goes, practice makes perfect.