Add 'Personal Finance' as a statutory subject to the UK National Curriculum

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There's a huge lack of knowledge in 'personal finance' when children finish education. Fundamental concepts like budgeting, investing, types of savings, pensions, goal setting and planning, debt and how the financial system works are poorly understood.

Adding 'personal finance' as a compulsory subject on the UK's National Curriculum across Key Stages 1 to 4 addresses these fundamental core competencies and will help fill that knowledge gap for a thriving, financially savvy future society.

There has been previous government guidance that personal finance topics be included in key stages 3 and 4, but it's estimated that less than half of schools teach it. Guidance is clearly not enough.

The UK Office for National Statistics reported in 2018 that for the first time in 30 years, "each UK household spent or invested around £900 more than they received in income in 2017."

And as of 30 June 2019 according to Bank of England statistics, net consumer credit (debt) is over £218 billion, the highest it's ever been and continuing to rise.

Clearly there is still a deficiency in basic concepts of personal finance. Personal finance should be a statutory compulsory subject on the National Curriculum from Key Stages 1 to 4.

Many adults still don't understand how markets work, how to invest, what a stock is or what it represents and no idea about long term wealth creation. This will create generations to come dependent on the state which is already overstretched. And it will only widen the gap between the rich and the poor unless change takes place.

Education to work towards personal financial freedom from an early age should be as important knowledge as maths, science and english. We're failing future generations the longer we leave personal finance off the national curriculum.

Make change now, force the government to act for future generations and their financial freedom.