School Education about Personal Finances

Is there any education in Schools for personal finances?

From what I remember, we were taught about calculating APR on loans etc but not a lot more.

Is there any education about personal finances and the consequences of debt such as mortgages, credit cards and loans? Similarly is there any education for budgeting for personal income and expenditure?

If there is no education of this type, would it not be a good idea for this type of lessons to be mandatory in school? I think that this kind of education would help to avoid people getting into unsustainable situations?

My OH and I were talking about this we thought it seemed obvious that this is important and would be beneficial for future generations.

I'd be interested to hear peoples views on this...

There is a Strand Unit called 'Making Decisions' within the S.P.H.E. (Social, Personal & Health Education) Primary Curriculum.


The child should be enabled to:

• acquire a growing sense of the importance of making informed decisions at many levels and identify some of the decisions he/she has to make

- how will I say no?
- what will I wear today?
- which book will I choose from the library?
- will I tell on my friend?

• explore and learn to examine critically the factors and levels of thought that influence decisions and choices

- impulse values and beliefs
- parental opinion
- social constraints
- peer and media influences

• recognise that decisions have consequences and that not all people will make the same decisions all the time

• recognise the important and legitimate role that adults have to play in making decisions and setting boundaries for young people

• recognise that opportunities to exercise choice can increase as responsibilities are accepted and as the trust of others is earned

• discuss and practise a simple decision-making strategy

- pausing and thinking
- identifying the important facts and moral questions about the problem
- considering the possible consequences and solutions
- weighing up the advantages and disadvantages
- taking the decision
- reflecting on choice or decision

• distinguish between assumption, inference, fact, rumour and opinion in making a decision

• identify sources of help in solving problems

a parent or guardian, a trusted friend, a teacher.


I presume there is similar within the Civic, Social and Political subject at secondary level.

Hi PaddyBloggit,

Thanks for your response, it was very informative.

It's good to know that decision making skills and consequences of actions etc are taught in school. Is this quite a recent thing? I don't really remember any of this when I was in school though maybe I have just forgotten.

Does anyone know if the Civic, Social and Political subject at secondary level covers things like mortgages and personal finances in detail?

The 'Revised Curriculum' hit the streets in 1999.

S.P.H.E. has been on the syllabus since then.

Prior to that it was the 1971 Curriculum.