Moneywise is petitioning the government to introduce personal finance to the school education curriculum. The petition is the latest step in the Moneywise campaign to see personal finance lessons made compulsory in schools throughout the UK.

At present, personal finance is not a mandatory subject in schools and without this obligation few schools provide formal lessons on the basics of money, from budgeting and bank accounts to avoiding debt and saving.

There are some exceptions. As it stands, around 10,000 students between 14 and 19 are studying for personal finance qualifications administered by the ifs School of Finance, which is also campaigning for personal finance to become a compulsory element of the school curriculum.

But with personal debt over the £1 trillion mark in the UK and household costs tightening, an ability to manage money competently has never been more important, explained Rachel Lacey, editor of Moneywise.

“This is the only way to achieve a society where debt is not the norm and more people are able to make sound financial decisions and plan for their futures,” explained Lacey. “We only need to look at the extent of personal debt problems in the UK to understand how vital it is that the coming generations have a greater understanding of how to manage their money.”

Sign our petition and ask the government to make personal finance education in schools compulsory.

• Kids and Cash