Should schools teach financial literacy?

It’s encouraging to see that financial literacy will start being implemented as part of the National Curriculum from 2028. Teaching children about wisdom in handling money is a key part of encouraging generosity and stewardship. So how can Christian parents proactively engage with this conversation about financial literacy and money management?  

A good conversation starter  

For many adults, it becomes apparent that the UK education system hasn’t entirely prepared you for the real world when faced with your first mortgage application or the prospect of a credit score. We may be able to recall how to calculate the circumference of a circle, but financial management is a skillset rarely taught in the classroom. Without getting into a debate on the merits of learning mathematical theories (my English Literature degree may give a hint as to where I fall on the matter), there’s a widely acknowledged knowledge gap when it comes to financial literacy. Until now. 

This curriculum change proposes teaching both primary and secondary-aged children topics like interest, budgeting, mortgages, and savings. It would cover the fundamentals of money and financial literacy, encouraging children to engage with this topic from a young age. How brilliant would it be if the next generation wisely stewards their finances with confidence!  

Not the end of the conversation 

In starting these conversations, schools will be playing a part in preparing children for adulthood and financial decision making. However, it’s unlikely that schools will suddenly begin teaching children about the biblical principles of wise stewardship, radical generosity, and sacrificial giving. So, while these changes are positive, they don’t replace the need for Christian parents to teach their children how to glorify God through their finances.  

Lessons on financial literacy could be a good starting point, particularly for parents who feel a bit out of their depth on how to enthuse their children about biblical money management. By engaging with the teaching material, we can demonstrate how the Bible speaks into everyday life, which includes how we use our money. It’s also useful to remember that, for most of us, sacrificial generosity isn’t something that comes naturally. Jesus’ teaching on putting others first is a continual challenge and something we grow in as believers, so we can’t expect our children to develop and learn this on their own. This reminds us of the importance of having relevant, age-appropriate conversations about how we use our resources to honour God and bless others.  

 As Christian parents, having conversations about the everyday implications of following Jesus can have a big impact.  

So practically, how could this look?  

One important way of showing the impact money can have is to point them to the Church. Most churches rely on members regularly giving, which enables and equips their ministry to reach people with the good news of Christ. Demonstrating that, by giving to the church, we partner in the ministries happening throughout the week can encourage our children with a sense of partnership in the gospel.  

Another implication could be demonstrating the ways that the Bible and the world view money differently. Christian budgeting is countercultural, with giving a non-negotiable part of monthly outgoings. Saving with Kingdom Bank is another way to demonstrate Kingdom priorities in your financial planning. By choosing a slightly lower interest rate on your savings, your money can have an eternal impact as it supports gospel ministries across the UK. We even have a Young Gospel Partner Account, which enables parents and guardians to save for their childrens’ future while having a gospel impact now.  

How can you show your children the ways in which your financial priorities differ to those of the culture around us?  

Teaching children the basics of money management and financial literacy is good, but it’s great to show them why these things matter. For instance, how things like compound interest can enable you to be more generous. Or why inflation matters for the gospel. And whether you should hold your money in a savings account or a current account. All these conversations can have gospel impact!  

So, as we wait for these curriculum changes to come in, let’s be proactive in viewing financial conversations as part of our discipleship of our children, encouraging them to think about how we can use all we have for the glory of God.