Young Enterprise have released a new report, Making the Classroom Count supported by M&G plc, which investigates the current state of financial education across the UK. It takes a ‘system mapping’ approach to understanding relevant enablers and barriers affecting schools and colleges.
Young Enterprise commissioned knowledge-weave to undertake this research which involved an extensive literature review and interviews with 26 stakeholders, exploring how the education system and Government policy can make it simpler and easier for schools to deliver high quality financial education for all young people.
The research identified five key system factors for improving financial education in schools, along with the conclusion that all of these factors need to be implemented together to impact a wide population of young people, rather than addressing one or two factors in isolation:
Andrew Berry, Head of Impact and Insights at Young Enterprise, welcomed the findings:
“This research provides highly valuable perspectives from across the sector on the different ways that policymakers and other stakeholders can help enable financial education in schools. It has isolated five driving factors and recognised how they all need to be addressed if we are to ensure all young people are provided with the opportunities to develop responsible money skills and personal finance habits.”
You can read a summary of the system mapping research here or the full systems mapping report here.
The findings of this research have been shared with the APPG on Financial Education for Young People and have informed the call for evidence for the APPG’s most recent inquiry – Financial Education in Devolved Areas of the UK – which is open for responses until 31 March 2025.
