Teachers are critical of the personal finance lessons being taught in schools, OneFamily research has found.
Half (50%) of secondary school teachers rate the personal finance lessons delivered as part of their school’s personal, social, health and economic (PSHE) education as either satisfactory or poor.
One in five (21%) said their school only does the minimum required to tick a box, while one in 10 (9%) said that the lessons are not fit for purpose.
Steve Ferrari, managing director of Child Trust Funds at OneFamily, said: ““It is crucial that children reach adulthood knowing the basics of personal finance, but at the moment, the quantity and quality of information provided in schools is hit and miss.
“Personal finance should be made a mandatory part of PSHE to help address this skills gap. In two years’ time, the first round of teenagers will be able to access their child trust funds – in many cases the first time they have had a windfall of money – and it is important that they think carefully about what they are going to do with the money, and not squander it.”