Eight out of ten primary school teachers in England and Wales want to see financial education placed on the school curriculum, a survey has found.
According to the survey by Prudential’s Cha-Ching financial education website, 69% also believe schools should be working with parents to help children understand money.
The effect of the cashless society on the understanding children had of finances was a key concern with 67% saying children’s mental arithmetic skills are suffering because of increased reliance on cards rather than cash for daily spending.
Three quarters of teachers are comfortable enough to teach children about money but one in nine said they don’t know enough about money and financial services themselves to teach the subject.
Jane Rawnsley, head of Prudential’s Cha-Ching financial education programme said: “Digital technology making it easier to pay for things is making money appear more intangible than ever before. The basics of earning, spending and saving should to be instilled in children from as early an age as possible and teachers recognise this.”
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