UK demand for financial education highest in Europe

The demand for financial education in UK schools is the highest in Europe, according to a survey.

Research by the organisation Ipsos for banking group ING found that 88pc of adults in the UK said financial education should be taught in schools; the highest level of support of 12 European countries surveyed.

Demand for financial education in schools was lowest in France, at 63pc.

Financial education will become compulsory in schools across England for the first time next year, following its inclusion in the new curriculum.

Personal finance is already taught in schools in Wales, Scotland and Northern Ireland.

Tracey Bleakley, chief executive of Personal Finance Education Group (pfeg), said: “This research shows that the UK is leading Europe when it comes to demand for financial education – and we want to see it leading Europe when it comes to its supply as well.

“Financial education’s new place in the secondary National Curriculum from next September will make a huge difference, but is not enough on its own. We need to ensure that all schools – including primary schools, Academies and Free Schools – give their pupils the skills, knowledge and confidence they need to manage their money well.”

Despite being the strongest supporter of financial education in school, only 12pc of UK adults surveyed said they had been taught about money in class, lower than the weighted average of 13pc.

In contrast, a quarter of Austrians surveyed said they had received financial education lessons in school. However, the under-25s in Europe are much more likely to have received financial education at school than older age groups.

Almost 12,000 people in 12 countries were polled by Ipsos between April 18 and May 15 this year.

The Money Advice Service released research earlier this year which found that most children’s financial habits have already been formed by the time they reach seven years old.

One in 10 parents make house purchase choice based on schools, study shows

Research by Nationwide demonstrates increasing desperation of parents scrambling to secure best education for their children

Nearly a quarter of UK parents of children of school age would be prepared to pay between 2% and 10% more for a new home – potentially thousands of pounds extra – in order to be in the catchment area of a good state school, according to research by Nationwide.

In a sign of the growing desperation of parents scrambling to secure the best education for their youngsters by living close to the top state schools, nearly one in ten (8%) admit they would shell out a premium of more than 10% extra for their house, while 8% would pay up to an additional 2%.

The research, published today by the UK’s largest building society, the Nationwide, and carried out by YouGov, also shows that parents are already making house purchase choices based on schools. Nearly one in five parents (18 %) admit that a school league table or school Ofsted rating has influenced where they chose to live. It comes as parents are currently doing the rounds of open days held at primary and secondary schools, for admission next year.

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