Mark FianderDirector of Strategy and Innovation

Financial education in the UK: before, during and after school

About the Money Advice Service

• To enhance the understanding and knowledge of members of the public of financial matters;

• To enhance the ability of members of the public to manage their own financial affairs.

• Coordinate the provision of debt advice

Set up by UK parliament to

Our services to the public

What influences financial behaviour?

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New school curriculum in England

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Through mathematics, pupils should be taught to…

…develop their use of formal mathematical knowledge to solve and devise problems within and outside mathematics, including financial mathematics

Through citizenship, ensure that all pupils…

…are equipped with the financial skills to enable them to manage their money on a day-to-day basis as well as to plan for their future financial needs.

Financial behaviour is learnt early

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Children learn most through observation and experience

By the age of 7 most children have…

• Learnt to recognise money, where it comes from and where it goes

• Developed ‘executive functions’ – eg planning ahead, delayed gratification, irreversible decisions

Mainly from their parents

Our young people strategy

• Resources for parents and practitioners

• Especially for early years

• 16-18-year-olds (transition age)

• Peer led

• Insight and evaluation

• Do more of what works

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mark.fiander@moneyadviceservice.org.uk