The CSJ’s Financial Education Initiative is launching a call for evidence to understand what needs to happen to improve financial literacy in England.
Across the UK today, more than 24 million people do not feel comfortable managing their own money day to day, while nine out of ten UK consumers feel that they are uneducated in terms of personal finance. Low financial literacy inhibits people from making the most out of their money, leading to financial instability and stress for some to spiralling debt and the poverty trap for others. Meanwhile, research by the Money and Pensions Service shows that children’s money habits are formed from as early as age seven. Yet today only one in three children currently receive any form of financial education at primary school.
It is in this context the CSJ is asking: what is needed to improve financial literacy in England across the lifespan?