Rishi Sunak, former Prime Minister of the United Kingdom, has warned of a financial literacy crisis affecting millions of Britons who are taking out mortgages, loans, and credit cards without a clear understanding of their implications. A study conducted by The Richmond Project, a numeracy charity co-founded by Sunak and his wife, Akshata Murty, revealed that 40% of adults lack the essential financial knowledge required to make informed decisions regarding saving, borrowing, and investing. Alarmingly, only 28% of participants could answer basic finance-related questions correctly. Sunak emphasized the importance of improving financial literacy to enhance social mobility and empower individuals to build financial resilience. He supports Labour's initiative to introduce financial education in schools by 2028, advocating for early learning starting in primary school. The report also highlighted that the UK lags behind countries like Germany, Canada, and Australia in financial literacy, with women consistently performing worse than men, contributing to one of the widest gender gaps in the developed world.