New research* from Nationwide Building Society reveals that half of Brits say that had they been taught about money management when they were younger, it would have had a positive impact on their current financial situation.
The research supports the recent publication of the new draft National Curriculum for England, which will see financial education embedded in both mathematics and Citizenship education from September 2014. Three quarters of people in the UK think that adding financial education to the school curriculum will good for young people, according to Nationwide's research.
Stephen Uden, Head of Citizenship at Nationwide, said: "With World Maths Day taking place on Wednesday, 6 March, now is a good time to ask ourselves - are we adequately preparing the next generation to spend responsibly?
"Our research shows that more than 75% of the population believe that it would be beneficial for young people to be taught about financial planning in schools, so it is a fantastic development that financial capability will be a statutory part of the curriculum for the first time.
"At Nationwide, we believe that it is essential to stimulate and raise awareness of the importance of financial education amongst children and young people. As such, we have developed Nationwide Education (www.nationwideeducation.co.uk) - a website of free programmes and educational resources for parents and teachers that engages children and young people through fun, interactive games that contain serious messages and link into the curriculum."
Julie Tridgell, Principal of Nova Hreod School in Swindon, also sees the benefit of financial education in schools. She said: "Education has a huge impact on the lifestyles choices children will make when they leave school. It's vital that we ensure our children have the right skills to help them make the best choices. As a partner school of Nationwide and having used Nationwide Education, I know they are perfectly placed to deliver engaging and practical lessons on money management which will stand our students in good stead for the future."
For more information about Nationwide Education, please visit www.nationwideeducation.co.uk. Supporting financial education forms part of Nationwide's Living on your side Citizenship strategy. For more information visit the Living on your side website at http://your.nationwide.co.uk/your-society/Pages/your-society-home.aspx
World Maths Day aims to give pupils a change from their usual maths lesson by asking them to compete in a global online maths competition.
*Research carried out by Atomik Research on behalf of Nationwide Building Society, February 2013
Notes to editors:
Nationwide is the world's largest building society as well as the second largest savings provider and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million customers.
Customers can manage their finances in a branch, on the telephone, internet and post. The Society has around 16,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.