The Cost of Not Knowing: A Call for Financial Education for All

January 5th, 2026

To the UK Government, educators, and decision-makers,

Every day, millions of people across the UK face financial choices that shape their lives – from children learning about money for the first time, to young adults navigating independence, to families managing bills and unexpected costs. But for too many, the “rules of the game” were never explained.

New research from Money Ready's ‘Cost of Not Knowing’ campaign showed that, on average, people lost over £640 in the past year alone due to confusion and indecision. This highlights a costly knowledge gap: almost half of Brits (43%) believe they could have saved more if they had better budgeting skills, and a third (34%) admit they have actively avoided major financial decisions because they didn't know where to start.

We recognise the progress being made through the government’s Financial Inclusion Strategy and Curriculum and Assessment Review, but more must be done. We’re calling for a national commitment to lifelong financial education that is accessible, inclusive, and lifelong by:

Improving financial education in schools by strengthening accountability and assessment from age 11 onwards.
Mandating impartial financial education across key services and user journeys.
Creating a national Care Leavers Guarantee with financial education at its core.
Investing in the organisations and educators who make the above possible.

Because when people understand how to manage their money, they gain more than financial skills - they gain dignity, opportunity, and spending power - which is good for them and for our economy.

The cost of not knowing is higher than it looks. Let’s make financial education a right, not a privilege.

Signed by the team at Money Ready, and all those who believe that financial knowledge should never be out of reach.