Three-fifths of UK adults fail basic money question as confidence outpaces real understanding when it comes to our finances

• Seven in 10 (71%) Brits feel confident in their knowledge of money – but only 40% could answer a simple question on inflation.
• People rank financial education as the second most important subject at school, ahead of science, history and geography.
• Santander UK highlights need for better money skills amongst adults, as the bank launches a series of financial education events across its Work Cafés for 2026.

Most Brits claim they feel confident in their finance skills, but new research from Santander shows that confidence doesn’t always match reality. According to today’s report, ‘The Currency of Learning: Global Perspectives on Financial Education’, seven in ten (71%) adults consider themselves confident when it comes to money, but just four in ten (40%) could correctly answer a simple question about inflation.

Financial confidence is more pronounced amongst men than women, with 77% of men saying they feel financially knowledgeable compared with two-thirds (66%) of women, yet only 45% of men and 34% of women answered the simple inflation question correctly. The question asked respondents to consider the impact of inflation halving on the cost of goods and services.

The new research comes after last month’s Government announcement to make financial literacy a compulsory subject in all primary and secondary schools by 2028. Amongst the 2,000 UK adults surveyed as part of a global study, financial education is seen as one of the most important subjects, ranking second (95%), just behind maths (97%) and ahead of literature (94%), science (91%), history (83%) and geography (82%). Yet almost nine in ten (86%) people say they never received any financial education at school, with three-quarters (75%) wishing they had.

Almost half of adults (48%) wish they’d had more education around pensions in school, and 47% wish they had been taught about taxes. Over two fifths (45%) wish they had been taught about mortgages and investing.

Less than a third (31%) of Brits say they would be willing to invest their savings in stocks and shares. More education on the stock market would help people grow their money in the long term.

Mike Regnier, CEO of Santander UK, said: “With the current pressures on people’s purses, understanding money has never been more important. Our research shows that people want practical financial skills — from understanding taxes, to planning for pensions. Financial education is no longer optional; it’s essential. Every young person should leave school knowing how to budget, save and plan for their future. But it’s not just about the next generation – adults need support too, which is why we’re hosting a series of free financial education sessions across our Work Cafés to help people build knowledge and confidence at every stage of life."

As part of its commitment to improving the quality and accessibility of financial education, Santander UK is hosting a series of free money management sessions across its Work Cafés nationwide, aimed at helping adults who to upskill on practical money topics such as budgeting, saving, as well as building long-term financial confidence. The new programme of events launching in 2026 will include first-time buyer events, fraud awareness and "why invest" sessions.

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