picture of A high school classroom scene focused on teaching money management

Four in five children leave school unprepared for life, new research finds

Max Bentley
Authored by Max Bentley
Posted: Saturday, November 18, 2023 - 07:00
  •  Money management is the life skill parents most want their children to learn at school 
  • One in six (16%) parents worry their children will struggle to live independently due to the lack of life skills taught in school 
  • Nine in ten children (91%) leave school without any understanding of mortgages 
  • More than four in five (81%) children in the UK leave school unprepared for adulthood due to a lack of life skills, according to new research. 

The study, conducted by Oxford Home Schooling, one of the UK’s leading home education providers, surveyed parents across the nation to discover how confident they are in their children’s ability to live independently once they leave school. 

It revealed that less than a fifth (19%) of parents believe pupils are taught enough life skills in the classroom, with money management the topic most lacking. 

More than nine in ten (91%) children leave school without an understanding of mortgages; more than four in five (83%) have never been advised about borrowing money, and a similar number (79%) don’t receive any lessons about avoiding debt. 

Unsurprisingly then, when asked which topics they would most want adding to the school curriculum, the most common answer given by parents was financial education (47%). 

The ten life skills parents wish their children were taught at school are: 

  1. Managing their money (47%) 
  2. How to budget (37%) 
  3. How to avoid debt (30%) 
  4. How to problem solve (27%) 
  5. How to find and get a job (27%) 
  6. How to think critically (27%) 
  7. How to save money (27%) 
  8. Helping to prepare a meal (25%) 
  9. Understanding mortgages (24%) 
  10. Dealing with stress (24%) 

Labour leader Keir Starmer earlier this year pledged to put oracy at the centre of the party’s plan for the school curriculum, in a bid to help develop children’s speaking skills. Almost a quarter of parents (24%) agree that such skills should be taught more at school. 

As a result of the lack of life skills taught in schools, one in six (16%) parents believe their children will struggle to live independently, and 24% believe they will remain heavily reliant on their family even when they leave home. 

With a fifth (20%) of parents believing their children would be better prepared for life if they were homeschooled, Greg Smith head of operations at Oxford Home Schooling, has shared his top three tips to develop their life skills outside of the classroom. 

1) Help them to understand money 

“The concept of money can often be confusing for young children, so it’s important to start building an understanding from an early age. Even if you keep your children’s savings in a bank account, try storing some of their pocket money in a clear jar or container so that they can physically see their money as they save or spend it. If your child wants to keep buying things, help them understand the pros and cons of their purchase. Ask them, is this something that you will use? Or would you rather use the money towards something you really want?” 

2) Teach them how to prepare a meal 

“Having your children help out in the kitchen is a great way to make learning fun and develop their knowledge of cooking different meals. Not only is it important to show young children how to safely prepare a meal, but it’s a great way to encourage healthy eating." 

3) Help them manage their stresses 

“Growing up can be a confusing time for children, so helping them to understand and deal with stress from a young age will certainly benefit them in later life. No matter how small their stresses may feel, it is important they know you are there to help them get through. Ask them to talk it out, listen to how they are feeling, and help them to focus on the positive parts of the situation.” 

 

Greg Smith, head of operations at Oxford Home Schooling, added: “Education should be about far more than just the traditional subject material taught in maths or science. Life skills, such as learning how to budget, or how to cook a meal, are crucial for preparing children for adulthood, and should be encouraged wherever possible. 

“This is one of the benefits of homeschooling, as the parent has more control over the curriculum and how the child is taught. We want parents to make learning fun for their children as this will help to keep them as engaged as possible.” 

For more expert advice on how to teach your children life skills at home, visit: https://www.oxfordhomeschooling.co.uk/blog/8-ways-to-teach-your-children-life-skills-at-home/

 

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