TEACHING children about financial education is more important than history or science, a major survey shows.
A new global report from Santander finds that people rank financial education second only to maths in a list of the core school subjects.
The study come after Ministers announced last month that financial literacy will be required in all primary and secondary schools from 2028.
The study from Santander quizzed people across ten of their markets on individuals’ attitudes, beliefs and knowledge on the issue.
Seventy-one per cent of Brits claim to be fairy or very knowledgeable about financial matters compared to 61 per cent across the world.
And some 48 per cent of people in the UK say they wish they had been taught more about pensions and nearly two-thirds want to be more knowledgable about investing their cash.
Brits are also seen as risk-averse with under a third, some 31 per cent, revealing they would put their cash in stock and shares. More than half, 55 per cent, are unwilling to do so.
All primary and secondary pupils will be taught about financial matters in a shake-up of the national curriculum.
The overhaul from the Department for Education aims to equip youngsters with the necessary skills on financial education.
Treasury Minister Lucy Rigby said: “At present, too many children leave school without a basic financial education, including the skills they will need to manage money.
“As a Government, we have listened and are taking action: financial education will become compulsory in primary schools as part of a new requirement to teach citizenship, and there will be a renewed emphasis on financial education in secondary schools.
“We’re also providing people with information and support throughout their life to make their savings work harder for them, including new targeted support which will allow firms to engage directly with customers to suggest products that are right for them.”
Meanwhile, Mike Regnier, CEO of Santander UK, said: “Mandatory financial education, which we have been calling for, will help establish a stronger knowledge of financial and economic concepts, benefiting not only individuals, but the UK economy at large.”
People were questioned in the UK, America, Brazil, Argentina, Spain, Chile, Portugal, Mexico and Poland.
The findings can be found in the bank’s new report The Currency of Learning: Global Perspectives on Financial Education.
