Financial education in Scotland

Education Scotland is the Scottish Government agency responsible for supporting quality and improvement in learning and teaching from early years to adult and community learning. Curriculum for Excellence is a coherent, flexible and enriched curriculum for learners from 3 to 18 in Scotland.

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.

The four aspects of financial capability in the Scottish provision:

  • 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.