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<p>The department wants all schools to offer high standard of financial education.
In delivering the curriculum, including financial education, schools should take account
of pupils with particular needs and adapt lessons accordingly.</p><p>Education on
financial matters helps to ensure that pupils are taught the functions and uses of
money, the importance of personal budgeting, money management and managing financial
risk. Finance education forms part of the citizenship national curriculum which can
be taught at all key stages and is compulsory at key stages 3 and 4: <a href="https://www.gov.uk/national-curriculum"
target="_blank">https://www.gov.uk/national-curriculum</a>. At secondary school, pupils
are taught about income and expenditure, credit and debt, insurance, savings and pensions,
financial products and services, and how public money is raised and spent.</p><p>The
department has also introduced a rigorous mathematics curriculum, which provides young
people with the knowledge and financial skills to make important financial decisions.
In the primary mathematics curriculum, there is a strong emphasis on the essential
arithmetic knowledge that pupils should be taught. This knowledge is vital, as a strong
grasp of numeracy and numbers will underpin pupils’ ability to manage budgets and
money, including, for example, using percentages. There is also some specific content
about financial education, such as calculations with money.</p><p>The department has
not made any specific requirement for financial education provision for pupils who
are eligible for free school meals, however, as with other aspects of the curriculum,
schools have flexibility over how they deliver these subjects. This means schools
can develop an integrated approach that is sensitive to the needs and background of
their pupils.</p><p>The Money and Pensions Service published financial education guidance
for primary and secondary schools in England, to support school leaders to enhance
the financial education currently delivered in their schools to make it memorable
and impactful. The guidance is available here: <a href="https://maps.org.uk/2021/11/11/financial-education-guidance-for-primary-and-secondary-schools-in-england/"
target="_blank">https://maps.org.uk/2021/11/11/financial-education-guidance-for-primary-and-secondary-schools-in-england/</a>.</p><p>The
department will continue to work closely with the Money and Pensions Service and other
stakeholders, such as HM Treasury, to consider learning from other sector initiatives
and whether there is scope to provide further support for the teaching of financial
education in schools.</p>
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