In 2014, financial literacy was made statutory within the National Curriculum and it is now taught as part of the citizenship curriculum for 11 to 16 year olds. Pupils are taught the functions and uses of money, the importance of personal budgeting, money management and the need to understand financial risk. The National Curriculum for mathematics has also been strengthened to give pupils from 5 to 16 the necessary maths they need to make important financial decisions.
Many schools include the teaching of financial education in their Personal, Social, Health and Economic (PSHE) curriculum, drawing on available resources such as the PSHE Association’s non-statutory programme of study. The programme of study sets out that pupils should have the opportunity to learn about how personal financial choices can affect oneself and others and about rights and responsibilities as consumers.