14 March 2008
Education inspectors have urged schools to make time in the curriculum to teach children personal financial skills.
Ofsted this week said that while there was a general agreement on the importance of teaching young people how to manage money, this had not always translated into effective action in schools and colleges.
The inspectorate called on schools to ensure sufficient priority is given to developing a coherent programme of personal finance education, and for Whitehall and the Qualifications and Curriculum Authority to provide support.
Miriam Rosen, Ofsted's director of education, said: 'Providing personal finance education in schools can have a significant and lasting impact on pupils' future prosperity and help them to successfully navigate the financial market — from mortgages and pensions to whom to bank with — when they leave education.
'If our recommendations are acted upon, we believe students will have a far greater chance of effectively managing their money and avoiding debt in years to come.'
PFmar2008
