At Think Pieces, we believe that financial education should be engaging, practical, and embedded into everyday life. Understanding money from an early age is one of the most important skills a child can develop. In today’s UK economy, with rising inflation, higher energy bills, and the cost-of-living pressures families face, equipping children with financial literacy has never been more important. By teaching children about money before the age of 10, we can set them up for lifelong financial confidence and resilience.
Early Foundations Matter
By the age of seven, children begin to understand basic financial concepts such as saving, spending, and making choices. These formative years are critical because habits and attitudes towards money are often established early. Children exposed to simple money lessons at home or in school are far more likely to develop responsible financial behaviour in adolescence and adulthood. Financial literacy at this age doesn’t mean complex maths or investments. It’s about simple, practical lessons:
● Saving a portion of pocket money
● Understanding that money is finite, and choices have consequences ● Learning the difference between wants and needs
Starting early gives children a foundation of confidence that they can build on as they get older.
Why Early Financial Education Matters Now
The UK has seen significant economic pressures in recent years:
● Inflation has hovered above 5%, affecting household budgets and prices in shops.
● Energy bills have risen sharply, meaning families must make more conscious spending choices.
● Many children grow up in households where financial stress is common, a factor shown to influence their future money habits.
Despite these pressures, financial education in the UK remains inconsistent. According to the Money and Pensions Service, fewer than half of children have received meaningful financial education either at school or at home. This gap is more pronounced in lower-income households, where access to financial literacy resources is limited.
By teaching money concepts early, children can develop habits that help them navigate the current financial landscape and prepare them for a more secure future.
Benefits of Early Financial Education
Research shows that children exposed to financial concepts early develop:
● Improved Financial Confidence – Children learn they can make informed decisions, giving them confidence that lasts into adulthood.
● Better Saving Habits – Even small savings routines, like putting coins in a jar, help children understand the value of money.
● Informed Decision-Making – Learning to compare prices, evaluate needs versus wants, and set spending limits helps children make smarter choices.
● Delayed Gratification – Children who understand saving are better equipped to wait for bigger rewards, an essential skill in both money management and personal development.
At Think Pieces we’ve seen firsthand how children benefit when financial education is interactive and fun. Our programmes use games, puzzles, and real-life exercises to help children internalise money concepts, turning learning into an experience rather than a lesson.
Incorporating Financial Education in Schools
While financial education is part of the secondary school curriculum in England, it is not yet mandatory for primary schools. However, some schools are leading the way:
● Liscard Primary School, in North-West England, has integrated financial education across multiple subjects, including Maths, History, and PSHE, using resources like Money Heroes. This approach has been praised for
engaging children and helping them understand real-world applications of money.
ThinkPieces programmes complement these efforts. By offering interactive workshops and resources, we help schools deliver financial education that children enjoy and remember. Our hands-on activities, from budgeting exercises to money-based games, make learning about money tangible and fun.
Both examples show that financial education doesn’t need to be a standalone subject. When embedded across the curriculum, children naturally apply money lessons in real life, reinforcing their understanding and confidence.
Practical Ways to Teach Money at Home and in School
Practical, everyday examples help children connect with money concepts. Here are some approaches parents and teachers can use:
● Pocket Money Plans: Encourage children to divide pocket money into saving, spending, and giving. This builds early budgeting skills. ● Shopping Discussions: When at the supermarket, involve children in price comparisons or discussions about why one product might be more expensive than another.
● Savings Goals: Help children set small, achievable saving goals — for example, saving for a toy or a trip.
● Family Budgeting Exercises: Older children can help plan small family activities, learning to prioritise spending and make trade-offs. ● Classroom Games: Schools can introduce money-related games or simulations, like “classroom shops” or pretend currency exercises.
These exercises reinforce concepts of value, trade-offs, and delayed gratification, turning abstract ideas into practical learning.
Consistency is Key
Early financial education is most effective when it is ongoing. Short-term lessons or one-off workshops rarely have lasting impact. Consistent, interactive, and contextually relevant financial education helps children internalise money skills and prepares them for future financial independence.
At Think Pieces we design programmes that are flexible and ongoing, allowing schools to integrate them weekly or monthly, complementing the formal curriculum while keeping children engaged.
Preparing Children for the Future
Financial education is not just about managing pocket money — it’s about preparing children for the realities of adult life:
● Understanding wages and taxation
● Planning for long-term goals
● Avoiding debt traps
● Developing responsible spending habits
By embedding financial literacy from an early age, children gain skills that are increasingly important in today’s UK economy, especially as families navigate rising costs and inflation.
Think Pieces’ Approach
At Think Pieces, we combine research, creativity, and practical experience to deliver financial education that works. Our programmes:
● Use play-based and activity-driven learning
● Include practical exercises that reflect real-life UK financial scenarios ● Encourage parent and teacher involvement to reinforce lessons beyond the classroom
Through workshops, resources, and support, we help children learn about money in a way that is fun, memorable, and impactful.
A Piece To Think About
Teaching children about money before the age of 10 isn’t just important, it’s transformative. In today’s UK economy, where families are juggling rising living costs and financial uncertainty, giving children the tools to understand money early builds confidence, curiosity, and independence that lasts a lifetime.
At Think Pieces, we believe money education should be practical and inspiring. From schools like Liscard Primary to everyday lessons at home, we’re showing that financial literacy can be creative, inclusive, and genuinely fun.
This is just the start. Over the coming weeks, we’ll explore everything from the great pocket money debate to how parents and teachers can make budgeting, saving, and spending meaningful learning moments. Together, we can help children grow into financially confident, capable adults, ready for whatever the future brings.
Join us on this journey… one Think Piece at a time!