We know that financial education works. Children and young people who recall learning about money at school are more likely to save frequently, have a bank account, and be confident managing their money. However, less than half of the UK’s children receive a meaningful financial education at home or in school.
We also know that some children and young people in vulnerable circumstances are at risk of having lower levels of financial capability or poor financial outcomes. Yet, there is limited provision targeted to children who are most vulnerable and those who work with them.
We have launched our new ‘Improving Financial Wellbeing through Teacher and Practitioner Training and Targeted Provision’ programme to help plug these gaps in provision, evidence, and knowledge. Working with a range of expert partners, we are funding projects to find out what works in two priority areas:
- Expanding and embedding teacher training.
- Developing provision for children and young people in vulnerable circumstances.
This will enable more children and young people get this vital learning.