A report published by Insight Investment, asset managers for the Halifax and Bank of Scotland, reveals that almost nine out of 10 parents think money management and behavioural lessons should be compulsory in schools.

Dan Kendrick takes a look at the viability of more practical courses in the curriculum.

THE idea of money management lessons, aimed at helping pupils save and budget, is far from innovative.

But with many students leaving university thousands of pounds in debt - often through no fault of their own - the need for financial skills from a young age is greater than ever.

The introduction of "practical" lessons has already been a success, with courses such as general studies, diploma of achievement and, most recently, citizenship, up-and-running.

And personal finance is currently an option taught by some schools as part of their citizenship lessons.

Where last month's Insight Investment survey differs is that it suggests specific lessons in life skills should now replace traditional subjects that many deem unimportant.

An overwhelming majority, 87 per cent, felt that money management should be taught, while 84 per cent wanted to see behavioural skills, and 77 per cent nutrition and health on the curriculum.

In contrast, other subjects - currently on the school agenda - were dismissed by many as being of little benefit to children's future wellbeing.

More than a third of people felt that media studies and drama should no longer be taught in schools, with one in five feeling that art was also now of little value.

"Money and manners are what most parents want to see added to the school curriculum," said David Norman, managing director of business partnerships at Insight Investment.

"Thousands of Britons face serious pressures today and have real concerns for their future.

"Clearly, most people now recognise the importance of addressing these issues from an early age: through better health, a better environment and by being more financially secure.

"People understand the need for planning, but do not feel empowered to make choices soon enough.

"Teaching money management in schools would solve many of tomorrow's financial problems for today's children - there is clearly much more that both Government and providers like us can do."

The financial industry and consumer groups, who have long argued that an education in personal finance is vital to avoid getting into debt, have welcomed the survey's results.

However, headteachers in Worcestershire hit back at the short-sighted report, which failed to acknowledge the "hidden" education that was already taking place in many lessons.

"Personal and social education and citizenship have been providing these skills for pupils for some time," said Kevin Peck, headteacher at The Chase Technology College, Geraldine Close, Malvern.

"While Citizenship is only taught for one lesson a week there are elements of skills, such as finance, in many other areas, for example maths, IT and science.

"If someone is looking to build or make something in textiles or technology they have to make design briefs, including costings, which helps introduce the idea of money management."

Mr Peck added that while an additional lesson could be sought to teach practical skills, any loss of the arts from the curriculum would be a mistake.

"Subjects such as art and drama not only add a great deal of joy and variety to school-life, but they are also expanding fields of employment in this country," he said.

"And drama, in particular, can teach valuable social skills and self-confidence to pupils."

Neil Morris, his counterpart at Christopher Whitehead High School, Bromwich Road, Worcester, agreed that such "covert" teaching was far more beneficial.

And preparing students for the world of work is something the St John's school has been doing for some time.

"If you asked students to do a money management course they would switch off immediately because most don't want to study a form of accountancy," he said.

"The curriculum is not perfect and needs tinkering with, but we already have citizenship lessons, which cover a wide range of skills, and a compulsory GNVQ in a work-related subject.

"And it would be a sad day if art and drama were no longer studied because I believe they have real value for students.

"Role-playing issues, such as job interviews and social situations in drama are a great way to build self-esteem and the creativity of art develops in many aspects of life."

With an over-arching diploma looming large on the education horizon, one way or another the curriculum looks set for change.

But, according to Worcestershire schools, the loss of the arts in favour of more "practical" lessons would not be a look to the future, so much as a significant step backwards.

n From next week Education View will appear in Tuesday's Evening News.