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The UK government has been asked to ensure financial education is a requirement in primary schools. GoHenry, a company that teaches young people about money, asked for this during an event at the House of Commons this week.
Louise Hill, Co-Founder and Chief Executive Officer of GoHenry, said the company’s research revealed that 84% of children and teenagers want more financial lessons. She added that 68% of 18-year-olds are worried about leaving school without knowing enough about managing money.
GoHenry used the event to talk about its Financial Education Manifesto. The manifesto has 10 ideas for how schools can teach young people about money. One important idea is to start teaching about money in primary school.
GoHenry Shares Ideas For Better Financial Education
This push for financial education is part of GoHenry’s continued efforts. The company raised similar requests in January this year and October last year. Hill explained that while financial education was added to secondary schools in England 10 years ago, it has not worked as well as hoped. She said that the current system is not helping kids and teens as it should.
Hill also said that the companyâ€s manifesto shares an easy way to improve financial education. She said it can be done without needing a lot of money or giving teachers too much extra work.
Claire Hazelgrove, Labour MP for Filton and Bradley Stoke, also spoke at the event. She said that GoHenry does important work to help young people learn about money. Hazelgrove shared research from the University of Cambridge, which showed that children often form money habits by the age of 7. But formal lessons about money usually start later, in secondary school.
Hazelgrove explained that when financial education is delayed, many teachers are not confident in how to teach it. They also do not have enough time or tools to assist students.
Experts Support Hillâ€s Request For Financial Education
Hillâ€s request for change has support from many experts who think learning about money is an important skill. Money can be hard to understand, and young people often leave school without knowing the basics.
GoHenry believes that if schools teach financial skills starting in primary school, young people will have a better chance to learn early. This can help them feel more confident and ready to manage their money later on.
The event in the House of Commons gave GoHenry a chance to talk to the government about its ideas. As people keep talking, it is clear that the companyâ€s call for financial education is getting noticed. Many people agree that we need to do more to help young people learn the skills they need to do well in life.
