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Financial education will be embedded in the school curriculum for years 1 to 10 from next year.
For younger children it'll be the basics like want vs need, and what is a bank account.
More senior students will learn about budgeting, investment, interest, taxes, and insurance to help to build lifelong financial skills.
Neil Edmond is the founder of MoneyTime, an online financial literacy program for children ages 10 to 14 which has just been awarded 'Best Primary Product' at the Global EdTech Awards.
He's on an advisory group working with the Retirement Commission to support the implementation of financial education in the new social sciences curriculum.
He says parents need to start the work at home, and the earlier the better.
