Children in primary schools should learn day-to-day financial skills, say UK MPs

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A recently published report shows that MPs want teaching financial education to be compulsory in primary schools across England.

The report states:

“We need to start younger and recognise the role that primary schools can, and should, play in familiarising children with money concepts in an age-appropriate manner.”

“Financial education should not be a ‘postcode lottery’, with some students left out simply due to the school they attend, which is why we recommend that statutory financial education is introduced at primary level.”

Financial education in England

From September 2014, financial education has formed part of the compulsory national curriculum for all secondary schools in England. This is giving schools the chance to equip young students with the knowledge and skills they need to manage their money.

And since then, there is a growing pressure to make this mandatory among primary school pupils, so they can learn about filling in tax returns and reading bank statements.

However, for financial education to succeed in schools, teachers need resources so they find the subject easy to teach, they know what to teach and they can fully engage their pupils in enjoyable lessons.

Resources for primary schools

A good example is  Values, Money and Me, a free website developed by Experian UK that helps children to explore the world of money within the context of personal and ethical values.

Find out more about it here:

You can view and download the materials you need to deliver a range of lessons to children in primary school.

Furthermore, there are activities that can be accessed on the site so children can explore the ideas in the scheme with their family and teachers.