The Young Persons’ Money Index report says that the “picture is stark” at GCSE level as well.
While financial education is now statutory within the curriculum, a majority of GCSE students are also not getting any form of formal financial education, the figures show.
The research involved more than 2,000 students aged between 15 and 18 in full-time education.
The figures were compiled in spring 2015 and show that just 28 per cent of 17 to 18-year-olds receive formal financial education before they leave school.
There is also concern at a decline in financial education at GCSE level. In 2014, 47 per cent of GCSE students said they didn’t receive formal financial education. In the latest report, this has now risen to 59 per cent of GCSE students.
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