What Parents Need to Know About New Money Management Lessons in School
Transparency Statement: To visually represent the theoretical curriculum changes and concepts discussed (such as lessons on money management), select images within this article have been created using AI generation tools. These images are illustrative and do not represent actual students, teachers, or classroom settings.
Even before the rise of online payments, subscription services and financial scams, many young people weren’t well equipped with basic money skills. According to a recent survey, 72% of 15-18 year olds say they want more education on money and finance at school. So the Government’s recent announcement that it will update the national curriculum to include practical money skills is good news. As part of its plan to create a national curriculum that prepares young people for life and work, children will be taught about managing money, understanding debt, spotting scams and making sensible financial decisions.
What’s Changing in Schools
The updated curriculum in England will bring financial education to the forefront, helping children develop practical money skills from an early age. Pupils will learn about budgeting, saving, spending wisely and recognising financial risks such as scams or misleading offers. Rather than being confined to a single subject, these lessons will be integrated across areas like Maths, Citizenship and Computing, allowing students to see how money management applies in different contexts.
The aim is to build confidence and understanding, showing how choices today can affect future financial wellbeing. By introducing real life scenarios and interactive projects, the curriculum will encourage critical thinking and problem solving around money, rather than simply teaching rules or formulas. The changes are being rolled out gradually, and should be fully in place by September 2028, giving schools time to train staff, develop resources and embed financial literacy into everyday learning.
Why This Matters for Your Child
Financial education is more important than ever. Young people regularly face opportunities and challenges involving money, from online shopping to saving for larger goals. The changes to the curriculum should help children to:
Build confidence with money: Understanding budgeting, saving and responsible spending helps children feel more in control of financial decisions.
Recognise risks: Lessons about scams, misleading adverts and unsafe financial offers give children the tools to question what they encounter and avoid pitfalls.
Develop independence: Learning how to manage money from an early age helps children grow into responsible, financially capable adults.
Gain transferable skills: Budgeting, decision making and critical thinking in finance can be applied to other areas of life, from problem solving to planning and prioritisation.
What This Means at Home
Parents play a key role in reinforcing what children learn at school. Here are some practical ways to support your child’s financial education:
Talk openly about money: Discuss everyday decisions, such as shopping, paying bills or planning for treats, and ask questions like: “Is this a good deal? What choices do we have?”
Give practical experience: Allow children to manage pocket money or a small allowance. Encourage them to plan spending, save for goals and even donate a small portion to charity.
Encourage checking and comparison: Show children how to compare prices and spot deals that seem too good to be true. This builds a habit of careful thinking and responsible decision making.
Explore apps, subscriptions and online purchases together: Talk about why people create content that encourages spending, how adverts work and how to spot scams or misleading offers.
Lead by example: Children learn by watching adults. Show them how you budget, save and make sensible financial decisions.
Final Thoughts
These curriculum changes reflect a broader understanding that financial literacy is an essential life skill. With practical money lessons becoming a core part of school life, every child will have the opportunity to develop the knowledge and habits needed to manage money confidently. By combining school learning with support at home, parents can help children grow into financially savvy, independent adults who are prepared for the challenges and opportunities of a modern world.