Just 26% of 18–21year-olds in the UK report receiving any formal financial education at school. That leaves approximately 4 million young people navigating adulthood without essential money skills like budgeting, saving or recognising scams. Many turn to social media influencers for guidance, often at their peril.
Santander

Education Gaps: Hurting Lives

Financial illiteracy isn’t just disruptive, it’s damaging. Studies consistently link poor financial education to mounting debt, reduced savings, and heightened stress. If only a quarter of young people are taught financial basics, what hope do we have of building a financially resilient generation?

A Step Forward: New School Curriculum

There’s cause for cautious optimism. England will roll out 80 new lessons in schools aimed at ages 5–16. These will cover fundamental money skills like recognising ads, managing online spending, and identifying scams, while older students will learn about inflation, cryptocurrency, credit and more.
The Guardian

This is the sort of real-world relevance students deserve in their education.

Financial Support in the Real World

Policy and curriculum changes are vital. So are practical supports. Ofgem’s recent £9 million funding to charities through its Energy Redress Scheme allows organisations to deliver energy and financial support directly to vulnerable households. In areas like Liverpool and Staffordshire, Citizens Advice used these grants to support thousands with practical advice.

That’s the kind of frontline strength that changes lives today.

What Could Happen Next

Experts suggest that future progress might focus on:

• Embedding financial education into the core curriculum – ensuring lessons are consistent, assessed, and not left as optional extras.
• Supporting educators with tools and training – giving teachers the confidence and resources to deliver money lessons effectively.
• Sustaining practical delivery through charities and community schemes – so that short-term funding models don’t undermine long-term support.

Hyfa Foundation’s Vision

Hyfa Foundation’s approach spans education, support and community outreach:

• We design practical content on budgeting, managing money, and avoiding scams that works for young people and adults.
• We collaborate with local partners to deliver money skills where they’re needed most.
• We highlight the need for consistent financial education and support through policy conversations.

Final Thought

Financial education isn’t optional. It’s part of making society fairer, stronger, and more resilient. With curriculum reform on the horizon and practical schemes already at work, there is momentum but more remains to be done. Hyfa Foundation is committed to playing its part in helping make that change real.

Please do read about our Policy Briefing Paper on Financial Inclusion