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 The vast majority of parents and teachers believe that personal finance should form part of the national curriculum in order to help avoid financial difficulties in later life.
A survey from the Association of Investment Companies (AIC) found that 93 per cent of parents and teachers want to see this happen.
In addition, 50 per cent of these would like to see the subject made mandatory for all students.
Subject areas such as how to work out the best mortgage for you could help pupils to avoid financial difficulties when the time comes to buy a house, according to the majority of respondents.
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"Parents are clearly worried about their children's ability to manage their finances in the future and feel financial education is a crucial skill for adult life," said Annabel Brodie-Smith, communications director at the AIC.
"Parents clearly believe that financial education should be part of the national curriculum, even rating it higher than geography, and parents clearly feel they have missed out by not learning the basics, so it's no wonder they want their children to be better prepared for the wider world.
"It's obvious that parents want more financial information themselves so they are better informed and can pass on their knowledge to their children," she continued.
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