Financial Education for primary schools

Financial education is not statutory to the primary school curriculum. However, we believe that the process of educating children in financial capability should begin by at least the age of nine, in primary year 5. Attitudes and life skills are being formed by this age and we know that children are aware of money at an early age.

Paige Ramsden with Jack Whittaker and Leila KhanResearch by the Money Advice Service showed that more than four in five teachers believe that  financial education must begin in primary school, not secondary school, to be most effective.

In fact the findings suggested that financial habits in adulthood are established by the age of just seven years old.

How our Money Management Lessons work:

Our programme of six lessons and extension tasks will prepare young children for the financial capability programme prescribed for secondary schools.

The Government guidelines to financial education do emphasise that young people should have a voice in the teaching of financial education. Our programme does exactly this, with children at the heart of the programme.

What our Money Management Lessons teach:


  • The difference between WANTS and NEEDS
  • The importance of distinguishing between wants and needs
  • The importance of prioritising needs before wants when spending money
  • How careless spending on wants can lead to later money problems
  • What a budget is and what it means to budget
  • The dangers in not making a budget
  • Planning a budget
  • The different ways of paying for goods and services
  • Which type of payment to use for different goods and services
  • The importance of saving for emergencies
  • Awareness of the different ways to save


  • The skills and qualifications required for different occupations
  • Awareness of the different levels of pay between occupations and the reasons why there are ¬†pay differences
  • The need to plan ahead in regard to a career
  • The difference between gross and net pay
  • Awareness of what is deducted from pay and the reasons for deductions
  • The concept of pensions and the need to plan ahead
  • Understanding of financial risks and awareness of the dangers of gambling, pay day loans, and advertising and its influence on consumers