Expresses concern about the lack of financial education in schools, highlighting issues such as debt among constituents and the impact on mental health. Mentions the importance of programs like Young Enterprise and credit unions for teaching children basic financial literacy. Stresses the need to educate students about macroeconomics, including taxation and its role in funding public services.

She expressed the importance of financial education for young people, highlighting that managing money is fundamental to stability and security. She cited an OECD figure showing 10 million UK adults are financially illiterate. She noted the patchiness in teaching financial literacy across schools, with only 8% of students citing school as their main source of such education. McKinnell stressed the need for a curriculum review by Labour's next Government to ensure children leave school ready for life.

He congratulated the hon. Gentleman on a timely debate and emphasised the importance of teaching younger people from lower socioeconomic groups about saving small amounts early in their careers for long-term benefits.

Fellows, a vice-chair of the all-party parliamentary group on financial education for young people since 2015, emphasized the importance of financial education in Scotland where it is incorporated into primary and secondary school curriculums. She suggested that other regions could learn from Scotland's approach to embedding money management within their educational systems. Fellows highlighted the difficulty many face with digital money and stressed the need for people to understand the consequences of spending, especially among those living in areas of multiple deprivation.

Financial education is crucial for young people to understand the link between working hard at school, getting qualifications, and leading a desired lifestyle. Teachers can engage students more effectively by relating lessons to practical life situations, such as understanding financial implications of jobs and lifestyles. The speaker highlights that money management skills are often formed early in childhood and digital transactions have made it harder for children to grasp these concepts practically. Concerned about online issues affecting young people's financial education, she highlighted that over 50% of 18 to 24-year-olds report feeling anxious when thinking about their money.

Ms. Malhotra supported the debate on financial education in schools, highlighting her personal experiences with financial awareness and its importance during a cost of living crisis. She cited statistics from the young persons' money index showing increased anxiety among young people about finances. Ms. Malhotra stressed the need for early financial education to build resilience and included examples from schools in her constituency that are successfully integrating financial literacy into their curriculums. Celebrated the success of Martin Lewis's textbook in schools, which is a primer for introducing financial education vocabulary to pupils.