Financial warning to parents as teachers say just 1% of pupils understand money | Personal Finance | Finance [Video]

Just one percent of primary teachers think pupils have ‘adequate’ financial literacy.

The findings suggest that Britain is raising a generation that is not equipped to handle basic tasks, such as running a bank account or coping with cost of living pressures.

New research suggests that a decision to add financial education to the curriculums of state schools in 2014 has failed to deliver the expected results.

Rather than teaching money matters as a standalone subject it has been shoehorned into other subjects, such as citizenship.

At the same time, there is no requirement to teach it at all in academy run and free schools.

The survey was commissioned by the Social Market Foundation who also found that 42 percent of primary schoolteachers said none of their pupils had adequate financial skills.

It called on the government to adopt a “whole school approach”, which would bring the UK in line with countries such as …