Financial education has been confirmed as an official part of the English national curriculum, including lessons on the public finances.
Children will be taught how to manage their money in schools for the first time in England, after financial education was included in the final version of the national curriculum, the Daily Telegraph reports.
The detail published by the Department for Education includes financial education in mathematics and citizenship education for secondary school pupils.
There have been further elements added since a draft curriculum earlier in the year opened to consultation, including lessons in how public money is raised and spent.
Personal finance is already taught in schools in Wales, Scotland and Northern Ireland.
In Mathematics, "financial mathematics" is emphasised for the first time. Pupils will be asked to solve problems involving percentage change and simple interest, for example.
Pupils will learn to manage their money and plan for future financial decisions in citizenship classes, which will also include lessons in financial products and how public money is raised through measures like income tax, according to the published curriculum.
The curriculum will be rolled out across all government-funded, or maintained, schools, from September 2014.
Tracey Bleakley, pfeg chief executive, said: "It is especially welcome to see the link between personal finance and public finances restored to the final programmes of study for Citizenship education.
"Tax, public spending and how these relate to personal finances are all crucial areas that young people will now learn in addition to money management."
