'Give ALL kids proper financial education', says major report on schooling in England – as Martin Lewis welcomes 'intention to improve things'

In 2014, financial education was made compulsory in the 'citizenship' curriculum for 11 to 16-year-olds in England. Young people also receive some limited financial education through the maths curriculum. But not all state schools follow the national curriculum – academies, for example, don't have to.

However, in its final report, the 'Curriculum and Assessment Review' has today (Wednesday 5 November) recommended that financial education should be significantly strengthened within citizenship. Financial numeracy should also be taught in maths in secondary schools, as well as be included in primary schools' curriculum for the first time, said the report.

Plus, under the 'Children's Wellbeing and Schools Bill', all state schools in England – including academies – will be expected to follow the national curriculum in future and therefore integrate financial education into their programmes – though this is likely to take several years to be implemented.

Martin Lewis: 'Our children are sent out into a world of scams, dodgy deals and debt'

Martin has long campaigned for universal financial education, and he has said the current curriculum doesn't go far enough to provide pupils with the tools they need to navigate the world and manage their money. Addressing a group of MPs just last year, Martin once again called for financial education in every school, for every child. Here's Martin's full reaction to the new recommendations:

Review: 'It's vital the curriculum provides young people with financial education from an early age'

When it comes to financial education, the report quoted research which found that only a third (33%) of children were able to recall learning about money in school and finding it useful. This was despite finance and budgeting being the most commonly selected area cited for greater focus in the Review's polling. As such, the Review has recommended that:

• Financial education should be prioritised in the citizenship curriculum. Because there are lessons that will cross over between citizenship and maths, it suggests that certain concepts, such as budgeting, mortgages and pensions, should be integrated into citizenship. Meanwhile, other topics should be introduced in maths first – for example, percentages should be taught in maths before learning about compound interest in citizenship.

• Citizenship should be made mandatory in primary schools. Citizenship has been required in secondary schools since the subject was first introduced in 2002. But the Review recommends that the subject be made mandatory for primary school students as well.

The report added: "Young people may have to make significant financial decisions early on, such as deciding whether or not to apply for tuition fee loans for higher education. In addition, the likelihood that children and young people receive meaningful financial education at home varies according to their background.

"Given these disparities, it is therefore vital that the curriculum provides young people with appropriate financial education from an early age."

This is the first shake-up to the curriculum since 2014

The recommendations announced by the wide-reaching Curriculum and Assessment Review, which has been ongoing since July 2024, will be the first changes to the national curriculum since 2014. The report covers each national curriculum subject area, as well as the amount of exams students sit for and more.

Commenting on the Review, education secretary Bridget Phillipson said: "It has been over a decade since the national curriculum was updated, and it's more crucial than ever that young people are equipped to face the challenges of today, so they can seize the exciting opportunities that life has to offer."

Free resources to boost your financial literacy

In 2018, Martin personally funded the production and distribution of 400,000 copies of the first curriculum-mapped financial education textbook via the charity Young Money. The textbook is free to download, with versions available for England, Northern Ireland, Scotland, and Wales.

Our Financial education guide also includes more easy-to-follow resources for children and adults, including info on our free personal finance course in collaboration with the Open University, known as MSE's Academy of Money.