UK Finance members work together to make budgeting a normal part of growing up. Banks, building societies and community partners deliver lessons, workshops and volunteer sessions across the country, supporting millions of children and young people each year. Thousands of teachers are also being supported with free classroom resources and training, giving them the confidence to embed financial education into everyday learning.

When children understand how to budget, they begin to see money differently. Setting a goal, whether that’s saving for a trip, a new book or even a rainy day, helps them connect their decisions today with the outcomes they want tomorrow. Tracking what they spend teaches awareness and control, and learning the difference between needs and wants helps them make choices that reflect their priorities rather than impulses. These are skills that strengthen wellbeing as much as they strengthen numeracy.

Financial education also plays a vital role in keeping children and young people safe. As more spending happens online, children and young people need to understand how to protect themselves from scams and fraud, and how to spot when something doesn’t feel right. Helping them build these habits early means they grow up with confidence, not fear, around money.

Teachers understand that when financial education is made practical, pupils are more likely to engage. In one lesson, students could create a simple budget and see how choices affect what’s left over for saving. In another, they learn how a payslip works or how to plan a weekly shop. Parents and carers see the difference too. Children begin talking about money at home, asking questions and suggesting ways to save. Those early conversations matter because they build openness and trust, helping families navigate challenges together.

Across our membership, firms are finding creative ways to make these lessons relevant. Some run digital workshops on budgeting for life after school. Others pair volunteers with local classrooms or youth groups to share real stories about managing money, saving and staying safe online. These collective efforts, detailed in our Financial Education Report 2024, show how collaboration across industry, schools and communities can build lasting confidence and capability.

This week, as part of #TalkMoney, we’re encouraging everyone to start their own conversation about budgeting. Teachers can introduce a short budgeting task in class, parents can plan a small saving goal with their children, and volunteers can share their experiences with young people in their communities. Each small step helps young people plan ahead, stay in control and feel ready for the future.

Building strong financial foundations starts with a conversation and a simple plan.

Explore more in our Financial Education Report 2024 and visit the Money and Pensions Service Talk Money page to learn more about how to get involved.