The financial basics you wish you’d learnt at school

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The financial basics you wish you’d learnt at school

A survey of British employees reveals that a significant proportion of working adults wish they’d been taught more about basic financial topics at school.

According to research1, the number one topic UK adults wish they’d learned more about at school is pensions: 40% of respondents to a survey said that learning about pensions at school would have encouraged them to take their own pension more seriously as a young adult.

Would these skills have helped you?

Other popular financial topics British workers wish they’d learned about at school include:

Basic money management (e.g. budgeting) – 28%
Saving methods – 28%
General investment knowledge – 27%
Understanding interest rates – 23%
Mortgages and how to apply for them – 21%

The vast majority of the respondents (68%) felt they would have benefited from this type of general, everyday financial know-how at a younger age.

You’re not alone

If you feel at sea with the financial basics, you’re certainly not alone – and yet many people are needlessly ashamed of their lack of financial understanding. A more recent study2 revealed that 55% of adults struggle to open up about money with nearly one in five (18%) citing shame or embarrassment as the primary reason. We’re here to tell you nobody is expected to know everything about their finances.

1 Portafina, 2019, Money and Pensions Service, 2020