Children learn vital money skills and habits between the ages of three and seven, and as young people get older, they benefit from increasing responsibility in terms of managing and making choices with money. Fewer than three in ten 14-17 year olds plan ahead for how they will buy things they need, and one in ten 16-17 year olds have no bank account at all.
Education about money makes a difference. ‘Future Foundations’ is one of five ambitious agendas for change set out in the Money and Pension Service (MaPS) UK Strategy for Financial Wellbeing 2020-2030. The goal of Future Foundations is to increase the number of children getting a meaningful financial education by 2 million.
