Many parents openly admit they wish personal finance had been taught during their time at school ahead of traditional subjects like Geography and Music. And with the UK weighed down by personal debt many now feel the time has come for money lessons to be a compulsory part of the National Curriculum.

Parents are worried about their children’s ability to handle money and think that the responsibility for teaching good money skills should be shared between schools and parents.

A survey by The Association of Investment Companies (AIC) found that 93% of parents questioned believe the subject should be taught in schools and over 50% think it should be compulsory.

At the moment in England personal finance can be studied but only as modules within other subjects such Personal Social and Health Education (PSHE) or Citizenship. Schools must teach Citizenship but do not have to include the personal finance modules while neither PSHE nor its finance modules are compulsory. Nor are they examinable.

Over half of parents also felt their own personal finance skills would be better if they had been taught about money at school and still feel that they would benefit from some sort of lessons for adults.

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