Young Persons' Money Index

Youth Thinking | 19 Dec 2019

The London Institute for Banking & Finance (LIBF) have published this year's Young Persons' Money Index report. The annual report tracks the take-up of finance education in UK schools and examines the attitudes, behaviours and experiences of UK students in relation to money and finance. 

The 2019 report is based on a survey that we conducted with more than 2,000 young people aged 15-18 on their access to financial education, their confidence and behaviour with money, their use of financial services and their levels of financial capability and knowledge. 

Key findings from the survey include:

  • After five years of inclusion on the national curriculum, there are still significant gaps in how, and when, students get access to financial education.
  • 64% of students say they have access to financial education compared to only 29% in 2015. 
  • Most are taught financial education as part of other subjects and the majority don’t receive financial education regularly.
    • Only 18% had access within the last month
    • 16% in the last term
    • 17% in the last year
    • 15% more than a year ago
  • 86% say that they get most of their financial knowledge and understanding outside of school – from their parents and/or self-learned online.
  • It is significant therefore that the majority also say they would like to learn more in school (82%) and regularly worry about money and their personal finances (69%).
  • When asked how they would like to learn more about money, 60% would prefer to learn this as a separate subject.
  • Learning more about financial products such as mortgages and credit cards, tax, budgeting and debt management are their top priorities.


Catherine Winter, MD of Financial Capability and Community Outreach at LIBF commented:

“Our scorecard has been marked, and there are no A*s for financial education in schools – far from it. The evidence shows that the current approach is just not adding up. It’s time to give this subject the attention, and lesson time, it deserves.

“After five years of financial education being in the national curriculum 69% of students still regularly worry about money and most (82%) want to learn more about money in school – in particular, on the practicalities.

“Unless something changes soon, we risk failing yet another generation and negatively impacting society for generations to come.

“Financial education should be included in the Ofsted Framework – effectively making it compulsory – and ideally taught as a standalone subject. However it’s delivered, it needs to have dedicated, regular, classroom time, with clearer guidance for teachers on what they need to cover.”

LIBF are the only specialist provider of personal finance qualificiations at GCSE and A Level, helping young people to develop vital money management skills for life.

If you'd like to learn more about the work of The LIBF, visit their website here or click below to download the full report.

Download the report

“After five years of financial education being in the national curriculum, it’s not adding up for young people.  69% of students still regularly worry about money and most (82%) want to learn more about money in school.” - Young Persons' Money Index 2019.

Young Persons' Money Index 2019 >

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