The Great Financial Education Swindle: Why Earning Isn't on the School Curriculum

Ah, financial education in schools. The holy grail of enlightened parenting and economic survival, or so we’re told. We get lessons on saving, budgeting, and how to plan our meagre pocket money, but when it comes to teaching kids how to actually earn money — silence. It’s almost as if the financial capital industry is quietly steering the curriculum away from anything that might empower the next generation to become self-sufficient wealth creators. Funny that, isn’t it?

Let's break it down. Total wealth isn’t just a pot of savings, a carefully crafted budget, and a shiny new junior ISA. No, total wealth is a sum of financial capital (your money) plus human capital (your skills, knowledge, and ability to earn) minus liabilities (your debts and obligations). Yet, while we focus on savings accounts and cutting back on coffees, we leave out the most critical aspect: human capital development. You know, the bit that actually generates the wealth in the first place.

This oversight isn’t accidental. When the financial services industry gets its hands on the education agenda, what do we get? A glorified advertisement for their products. Saving is good, they say. Budgeting is essential, they say. But learning to increase your earning power? That’s conveniently left off the list. After all, where’s the profit for them if people are taught to stand on their own two feet, develop their skills, and build businesses instead of funnelling every spare pound into managed funds and overpriced life insurance?

The stats are in, and they make for predictable reading. Over half of teens want to start learning about money earlier. A sensible request, you’d think. Research shows that kids are already discussing saving, budgeting, and even bill costs with their parents. But here’s the kicker: there’s not a whisper about earning. They’re taught to save and budget the crumbs they’re given, without a single lesson on how to bake the cake.

You see, we’re missing a trick here. Financial education isn’t just about squirreling away pennies or deciding how best to cut back. Money is a means to an end, not the end itself. And the end? That’s well-being — holistic well-being, mind, body, heart, spirit, and yes, your bank account too. If we really wanted to prepare young people for life, we’d teach them not just to manage what little they have, but to grow their wealth, to understand their own potential, and to invest in developing their human capital.

Instead, we’re stuck with an outdated, product-centric view of financial education. What we need isn’t just lessons on ISAs and saving accounts, but holistic wealth education that covers the full spectrum: earning, spending, saving, investing, and, dare I say it, thriving.

The reality is, the current curriculum is just a glossy brochure for the financial industry’s favourite products. We need to stop planning the money first and start planning the person. Teach kids how to be resourceful, entrepreneurial, and innovative. Let’s show them that wealth isn’t just what’s sitting in the bank, but what’s in their mind, their skills, and their ambitions.

It’s time to shake up the system. If the industry wants a piece of the pie, then fine. But let’s make sure our young people learn how to make their own pie first.