Brits would benefit from compulsory finance curriculum

Norwich Union points to the US where financial education is included and says that people are, on average, richer by a year’s earnings between the ages of 35 and 49.

“It pays to get clued up,” said Miranda Lewis, senior research fellow for IPPR Trading which also commissioned the survey.

“This research shows that when financial education is introduced onto the curriculum next year it could pay real dividends later in life.”

Ms Lewis said that in addition to financially educating the young, adults also need to be given information and support.

Without this, she fears that millions will struggle with their finances, keeping people stuck in the debt doldrums.