In a recent initiative, over 180 kids got free financial lessons, helping them understand money matters better and preparing them for the future
The goal is to make sure all kids in the UK get proper financial education in schools. Right now, it’s a bit of a mixed bag. Scotland and Northern Ireland have it in their primary school curriculum, but in England, it’s only for secondary school students.
A study by Yorkshire Building Society found that only 42% of young adults aged 16 to 27 remember getting any financial education in school, even though it’s been part of the curriculum since 2014. Their Money Minds program is trying to change that by bringing financial lessons directly to classrooms.
Chris Irwin, the director of savings at Yorkshire Building Society, shared that helping people with their financial wellbeing is super important to them. He mentioned that those who learn good financial habits tend to feel less stressed about money and enjoy life more.
Interestingly, a report showed that 39% of young people feel they don’t know enough to make smart financial choices. But those who had financial lessons in school felt more confident about understanding things like taxes, debt, and mortgages.
Since they kicked off the Money Minds program in 2015, over 70,000 kids across the UK have benefited from these lessons. It’s a great step towards making sure the next generation is better prepared for their financial futures.
