And it’s not surprising that some young people don’t feel equipped with the skills and knowledge to be financially capable. A recent study found that less than half of secondary school students receive any form of financial education, and this reduces to one in three for primary school children. This is despite research from the Money Advice Service which found that money habits develop from as young as seven years old.
Financial education and social mobility
But it’s not solely issues of indebtedness, overspending or making a bad investment that financial education can help address. Being financially capable provides opportunities that can positively impact on a person’s life chances; for example, understanding how to budget, make price comparisons, or taking on and managing debt appropriately, could enable someone to make more informed financial decisions, which could potentially afford them greater choice and access to opportunities such as education, training or employment.
Register Now to Continue Reading
Thank you for visiting Children & Young People Now and making use of our archive of more than 60,000 expert features, topics hubs, case studies and policy updates. Why not register today and enjoy the following great benefits:
What's Included
-
Free access to 4 subscriber-only articles per month
-
Email newsletter providing advice and guidance across the sector
Already have an account? Sign in here
