Children and Young People
Adult financial capability is developed throughout childhood and adolescence, but too few children and young people are given the support they need. The work in this theme provides a plan of action for the vital fifteen-year window of opportunity, from age 3-18, to transform the UK’s future financial health and meet the aspiration that:
all children and young people to receive the high-quality financial education they need by 2025.
The Strategy has identified the following issues to be addressed:
- Not enough is known about what are the most effective intervention models and techniques that can be delivered cost-effectively at scale.
- Funders and commissioners do not have the insight they need to target their funding.
- There are provision gaps for interventions involving children, peers, parents, vulnerable children and young people, and learning by doing.
- Schools need support in making informed decisions about how financial capability can be best implemented.
- A sustainable funding model needs to be in place to support financial education at scale.
Priorities for the Strategy are to:
- Understand what works, ensuring that financial education during childhood and adolescence makes a real difference to people’s financial behaviour as adults.
- Target effective provision to those who need it most, helping the sector make informed decisions on where resources should be allocated, and enabling new partnerships with organisations who already reach children and young people.
- Support schools to deliver their statutory responsibilities effectively so that they know why and how they can deliver financial education that works, is cost effective and supports other school outcomes.
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