Young students in England will soon be taught how to budget, manage money and understand mortgages, under new government plans to modernise the national curriculum.
The government has confirmed that financial education will be made compulsory in all primary and secondary schools from 2028, as part of a broader curriculum reform aimed at equipping pupils with essential life and money management skills.
The move comes in response to growing public concern over low levels of financial literacy, and follows long-standing calls from industry leaders and campaigners for more practical money lessons at an earlier age.
RICS has welcomed the publication of the Curriculum and Assessment Review, as it sees education as being at the heart of a future pipeline of skilled surveyors in the years and decades to come.
The Review highlights the importance of incorporating digital and financial education into the curriculum – including knowledge of how mortgages work and artificial intelligence. Young people will play a critical role in responding to pressing global problems from climate change to the housing crisis and building safety. It is therefore essential that the curriculum is fit for purpose, equipping young people with the skills they will need.
RICS’ Surveying skills report 2025 reflects an industry that is rapidly evolving amid ongoing skills shortages and pressures on capacity. Business skills, sustainability, data analytics, and big data management were identified among the most important priorities.
RICS stated: “It is right to incorporate vocational elements, but further expansion of Technical Qualifications that provide a tangible route into the world of work is needed.
“RICS supports the V-Level pathway and looks forward to helping to shape the curriculum for a V-Level in the built environment that builds on the success of the T-Level in Design, Surveying and Planning. Surveying skills report 2025: an exploration of skills shortages in the surveying profession. The RICS Surveying skills report is the first of its kind, providing an in-depth exploration of skills shortages in surveying.”
Mark Harris, chief executive of mortgage broker SPF Private Clients, commented: “Financial literacy is a life skill that can make all the difference between keeping on top of your finances or finding yourself drowning in debt.
“Teaching children these valuable lessons in the classroom will ensure that nobody slips through the net. However, they need to be taught properly in order to have a real impact so we would suggest going a step further – rather than teachers adding mortgages to their workload, we would encourage the government to invite mortgage brokers into the classroom.
“Being at the coalface with real-life experience, brokers can better explain how the mortgage market works, how to borrow sensibly and seek independent advice, the importance of having a strong credit file and not overstretching yourself. This will ensure the next generation are much more clued up than their parents.”
Babek Ismayil, CEO of homebuying platform OneDome, agrees that making financial literacy compulsory in schools is a “hugely positive” and “long overdue” step.
He commented: “Giving young people a grounding in budgeting, saving, borrowing and managing money will help them make more confident financial decisions throughout their lives.
“It’s encouraging to see mortgages included in the new curriculum, but we’d like to see it go further to cover the full financial realities of homeownership. Buying a property is the biggest financial commitment most people will ever make, and it brings with it a wide range of ongoing costs and responsibilities – from maintenance and insurance to council tax, energy bills and repairs.
“Understanding these realities early on would help young people approach homeownership with their eyes open, making them better prepared to manage not just the purchase of a home, but the long-term costs that come with it.”
Read the orginal article: https://propertyindustryeye.com/mortgages-and-financial-literacy-to-be-taught-in-schools/?utm_source=rss&utm_medium=rss&utm_campaign=mortgages-and-financial-literacy-to-be-taught-in-schools
