About financial education

Why develop financial capability?

Curriculum for Excellence recognises the importance of building financial capability in all our young people and provides opportunities for schools to adopt a more cohesive, planned and co-ordinated approach to financial education that works across the school's curriculum.


Financial understanding is a key life skill. Children need to understand the value of money and how to interact with financial service providers to provide for their own futures. The skills they will learn in class, combined with the experience of having their own savings product, will better equip them to avoid financial problems in later life.

HM Treasury, September 2007

Pupil views on financial education

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The four aspects of financial capability

Financial understanding

Developing financial understanding is the first step in ensuring that young people leaving school have the skills required to deal confidently with everyday financial issues. It will also help them to make informed decisions and choices about their personal finances.

Financial competence

This means being able to apply knowledge and understanding of financial matters across a range of contexts, using ICT where appropriate. Being financially competent includes being able to identify and tackle problems or issues with confidence and being able to manage financial situations effectively and efficiently.

Financial responsibility

This means having a caring and responsible disposition with regard to the use of resources. Children and young people who budget wisely and plan for the future will be responsible citizens who look after themselves and their environment.

Financial enterprise

Financial enterprise is about being able to deploy resources in an imaginative and confident manner. Financially enterprising behaviour will involve making decisions based on informed thought and will enable children and young people to contribute effectively to the development of Scotland's wealth.

Financial education provides an excellent context for learning across the curriculum.