Financial literacy is the major missing from the UK curriculum

Our education equips us to grapple with trigonometry or the Pythagorean theorem, but we have no idea about mortgages, taxes and savings. It’s no surprise that Britons feel that financial literacy is the major missing from their curriculum.

What are attitudes towards learning and education after the pandemic?

Global online learning platform announces its second annual report on the future of learning. The report breaks down current attitudes towards the education and learning system, offers a post-pandemic look at how and what people hope to learn in the future, and the skills that both professionals and employers are prioritizing to strengthen the future economy.

Andy Hancock, CEO of FutureLearn, said: “This year’s Future of Learning Report provides a deeper look into key education and learning trends and how they are impacting learners, educators, employers and society at large. As a leader in online learning, at FutureLearn we have a responsibility to set the bar on how we can continue to advance the sector and reshape it in line with the ever-evolving needs of consumers and the workforce of our global network of academic and industry partners. “

Lack of understanding of financial issues

The new data highlights how some Britons may feel at a disadvantage when it comes to understanding everyday finances, including mortgages. Taxes and Saving, with nearly 2 in 5 (39%) believing that day-to-day money management is missing from the curriculum. Interestingly, the move to include financial literacy in the national school curriculum has the highest support among Baby Boomers (44%), followed by Millennials (35%), with Gen Z coming in at just 30%, despite a recent survey by Conscious Youth lowest This shows that almost three quarters (73%) of young people leave school without fully understanding what a mortgage is.

Ahead of the Spring 2022 Budget and with the knowledge that UK inflation is set to hit a 30-year high of 5.4%, people are likely looking to increase their income and gain a better understanding of their finances. As people become more entrepreneurial to increase their income, it’s no surprise that 41% of Britons admit they would consider starting their own business alongside their full-time job, with this falling among 16-24 year olds (65th %) more often the case group.

Money is important

With growing interest in open a business Outside of the main income, people are also looking to diversify the way they learn and acquire new skills. When asked how they would consider acquiring new skills to start their own business, online short courses came out on top (19%), followed by almost 1 in 5 (16%) of Britons, who would consider self-paced learning to be the best way to learn. This is supported by the fact that the Business and Management course category is the second most popular for enrollment on the FutureLearn platform.

Money affects everyone and according to the data people want to understand more about it but also want to acquire more of it, as a third (31%) of Britons said they would study a subject they know they like would bring a promotion or a well-paying job.

Astrid deRidder, VP of Content and Learning at FutureLearn, said: “In the current economic climate, it’s only natural that people would want a better understanding of how to better manage their money and personal finances. Research from this year’s Future of Learning report shows that online learning clearly plays an important role in increasing access to such vital knowledge and resources, from our courses and ExpertTracks on entrepreneurship and finance to our microcredentials on business leadership. At FutureLearn, we are committed to helping people at all stages of their lives and careers feel empowered to achieve their goals, financial or otherwise, no matter how big or small.” Financial literacy is the major missing from the UK curriculum

Fry Electronics Team

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