Primary schools set to teach money, savings and debt

5 year olds to be given compulsory lessons on all things cash

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Primary school children aged 5 upwards are to be given compulsory lessons on managing their finances.

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Starting in the new school year in September, the range of lessons will start with how to save money in a piggy bank, before moving on to current and saving accounts, and how to budget and save.

Between five and seven children will be taught to identify different coins and notes, and between seven and 11 the lessons will focus on managing bank accounts and how to plan a budget.

Ed Balls, the Secretary for Children, Schools and Families has announced the plans as part of the new personal, social, health and economic (PSHE) curriculum.

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