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<p>Since 2014 financial education has been statutory within the secondary national
curriculum as part of citizenship and mathematics. Financial education ensures that
pupils are taught the functions and uses of money, the importance of personal budgeting,
money management and managing financial risk.</p><p> </p><p>The Ofsted inspection
framework sets out how inspections take a view on the quality of the broad and balanced
education that a school provides. This includes how schools provide pupils with the
knowledge and skills needed to take advantage of opportunities, responsibilities and
experiences of later life, which can include financial education, as well as how curriculum
subjects such as citizenship contribute to pupils’ personal development.</p><p>There
are a number of organisations that support financial education for young people. Young
Money recently launched a free financial education textbook for secondary schools,
to support high quality teaching of the subject. We are currently working with the
Money and Pension Service and HM Treasury to consider how we can support further the
teaching of financial education in schools.</p><p> </p>
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