Financial education provision failing girls

21 October, 2015
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Teenage girls in the UK are receiving significantly less financial education in school than boys, according to a report released today.

The Young Persons’ Money Index, published by financial education specialist ifs University College, reveals that at GCSE level where financial education is compulsory, only 36 per cent of girls currently learn about personal finance, in comparison to 45 per cent of boys the same age.

In addition, it is not just the disparity in the numbers of students learning about finance where education provision is failing girls, but also in its delivery. With 1.98 hours received a week, girls have significantly fewer classroom hours studying financial education when compared with the 2.36 hours boys receive. Over the course of a standard 39-week school year, this equates to an extra 14.82 hours, or more than two extra school days dedicated solely to learning about personal finance.

Alison Pask, Vice Principal of ifs University College, said:

Women are already far more likely to suffer from financial exclusion in adulthood and while the introduction of financial education into the curriculum is a step in the right direction to tackle these problems, these figures clearly show that much more needs to be done to ensure it is delivered to a consistently high standard for every student.”

For female students aged 16 and above and who are about to go into higher education or enter the world of work, the picture is even starker, where nearly three quarters (74 per cent) receive no formal financial education whatsoever.

Alison Pask continued:

With female students making up the majority of university entrants each year it is the height of irresponsibility that so many are being sent off into the next stage of their education with next to no practical financial education; a stage of education where life-changing financial decisions about taking on debt and managing the costs of living need to be made.

For more information on the Young Persons’ Money Index, please visit:
http://www.ifslearning.ac.uk/financial-capability/young-persons'-money-index

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