Pupils 'Should Learn Finance At School'

More than three-quarters of adults in Great Britain believe secondary schools should do more to prepare children to deal with personal finance planning in later life.

MORI Telephone Surveys was commission by Royal Liver Assurance to carry out research for its UK Financial Awareness Report. The aim of the report was to find out how financially astute people are, and to discover their concerns and priorities for savings and retirement.

The report reveals that despite the fact that almost a third of people questioned admitted not saving any money on a monthly basis, almost nine in 10 (88%) say they encourage their children -- or would encourage their children if they had them -- to save money they get from family or part time jobs.

The survey also shows that as well as wanting more schooling in financial planning for children, adults also feel they needed a bit more financial education themselves.

Nearly two-thirds of adults say banks and building societies should do more to help people understand their products and services. Almost three quarters (72%) complain financial options aren't explained simply enough and two in five (42%) say there's very little face-to-face contact to help them understand the options available.

Technical details

MORI Telephone Surveys questioned 500 people aged 18 plus between 18-25 August 2002, using CATI. Data were weighted to the demographic profile of the population.