EVEN as adults, some people feel a little lost when it comes to handling their own finances and comprehending intricate financial terms.

For this reason, there is a growing chorus demanding that more be done to guarantee that children receive financial education in schools.

The rationale behind this is simple…

Youngsters have a far higher chance of making wise financial decisions in their early - and later - years if they know what information to ask for and subsequently understand how to process these facts.

So, should financial literacy be incorporated into the fundamental curriculum of schools?

It’s obvious that education professionals would be quite supportive of financial education, as 96% of teachers believe that schools should provide it, according to the Money and Pensions Service (MaPS).

A large number of educators are eager to get started early as well, with nearly half believing that children should learn about money between the ages of five and seven.

Meanwhile, almost 25% of respondents believed that financial education should start in nursery, with others asserting that a good time to start would be between the ages of eight and 11.

Therefore, it is obvious that those who would be responsible for imparting financial education would strongly support its inclusion in the curriculum.

Pupils leaving school lacking vital financial knowledge

Put simply, learning the fundamentals of money management can benefit someone for the rest of their adult life.

However, over 75% of educators polled by MaPS stated they think the majority of students leave school without the financial literacy necessary for adulthood.

Indeed, researchers investigated the factors behind the high number of pupils graduating from high school with little to no financial literacy and, not surprisingly, over eight out of 10 educators claimed that other courses took precedence.

However – concerningly - one in four educators stated they lack the self-assurance or expertise to teach financial literacy, and a comparable percentage acknowledged they are unsure of where to get the best help and tools.

Teachers are quite supportive of the notion of offering financial education in the classroom, but there is a problem because many of them don't think they can now deliver it at the requisite standard.

Gaining an understanding of financial goods, saving for the future, and living the lifestyle you want can all be made possible with basic financial literacy.

Without it, you run the risk of making poor financial decisions or failing to take advantage of chances to increase your wealth and improve your situation going forward.

At Future Life Wealth Management, we frequently encounter and hear from clients who feel overpowered and perplexed by technical terms used in finance, the intricacy of the industry, and the vast array of available goods and services.

Many of us are just clueless about where to begin, and we also realise that bad financial decisions can have far-reaching and permanent effects.

We can help you navigate this complex environment, provide answers to your questions, and assist you in making the right choices for you and your family as we are regulated experts in this field.

Our financial planners tailor their guidance to your unique needs and objectives, so you can be sure you're heading in the right direction and making the right decisions.

If you have any questions about how you can make your money work harder for you, or how to increase your chances of achieving your financial and wider lifestyle goals, please don’t hesitate to ring us on 01246 435996.

We’ll always be delighted to speak to you.