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The Young Person’s Money Index, an annual research report commissioned by the London Institute for Banking and Finance, was published this week. The report draws on a survey of more than 2000 teenagers aged between 15-18 to examine the attitudes and behaviours of UK students in relation to money and personal finance.
The report is set out in three key sections: the current state of financial education in schools and colleges; the behaviours and attitudes of young people in the UK; and the survey in the context of the All-Party Parliamentary Group (APPG) on Financial Education for Young People.
The key findings of the survey in regard to financial education are:
In terms of financial confidence and behaviours, the survey found that:
Finally, the report sets out its findings in a broader context, drawing on the work of the APPG on the financial capability of young people. These findings include that:
The NGA supports the view that financial education should be included as part of Personal, Social, Health and Economic (PSHE) education. This should also be within a broad and balanced curriculum that provides young people with the skills and knowledge needed for adult life. NGA supports the view that PSHE should be a statutory subject in all state-funded schools.
Published: 09/12/2016, by Tom Fellows
Last Updated: 05/09/2018, by Tom Fellows