Financial education is set to become a compulsory part of the curriculum for English schools for the first time at primary level. This guide explains what’s actually changing, when, and what it means for your child. It’s one of several curriculum updates parents should know about: see also our guides to the new RSHE guidance, the new oracy curriculum, and the new cap on school uniform costs, alongside the expansion of free school meals eligibility.
Quick Answer: What’s Changing?
Following a government curriculum review, financial education will become compulsory for primary school pupils in England, with secondary provision extended to cover more complex content such as fraud and scam prevention. The changes are expected to take effect from September 2028, giving schools time to prepare.
What’s the Current Situation?
Financial education already exists within the citizenship curriculum for 11 to 16-year-olds, in place since 2014, and the primary maths curriculum currently only promotes the use of financial contexts rather than requiring dedicated teaching. The curriculum review found that this existing provision is inconsistent in practice, with only around a third of children able to recall learning about money at school and finding it useful.
What Will Be Taught
- Primary level: new statutory content covering the basics of money, saving, and spending, integrated into the curriculum for the first time.
- Secondary level: extended and more complex content, with particular focus on digital financial literacy, including fraud and scam prevention.
- Wider context: the changes sit alongside a broader citizenship curriculum update covering financial literacy, media literacy, and related life skills.
Why the Change?
The review found strong support for compulsory financial education, alongside evidence that many young people are already making unsupervised online purchases without adequate understanding of money management. The move also coincides with the government’s wider Financial Inclusion Strategy, aimed at improving financial capability across underserved groups.
What This Means for Parents
Until the new statutory content arrives, financial education provision varies significantly between schools, so it’s worth asking your child’s school directly what they currently cover. In the meantime, everyday activities like involving children in a household budget, comparing prices while shopping, or managing pocket money can reinforce financial skills at home ahead of the formal curriculum change.
Frequently Asked Questions
When does compulsory financial education start in schools?
The changes are expected to take effect from September 2028, following the outcome of the government’s curriculum review, giving schools time to prepare and adapt their teaching.
Is financial education already taught in UK schools?
Some financial education already exists within the secondary citizenship curriculum since 2014, and financial contexts are promoted within primary maths, but it isn’t currently a dedicated, compulsory subject at primary level, and provision varies significantly between schools.
What topics will the new financial education curriculum cover?
Based on the curriculum review, expected content includes budgeting, saving, understanding money management, and, at secondary level, more complex topics such as recognising fraud and scams, reflecting the realities of managing money digitally.
