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 research*, the number one topic UK adults wish they’d learnt 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 learnt 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 a little 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 study** 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 that nobody is expected to know everything about their finances.
Financial advice is key
If you’re concerned about your finances or need help with basic financial topics, we aren’t here to judge. We’re on hand with simple, jargon-free advice that will provide you with the confidence and understanding you need to take control of your finances once and for all.
*Portafina, 2019 **Money and Pensions Service, 2020