More than 40% of Irish adults lack minimum level of financial literacy

Department of Finance report called for greater focus on tailoring financial education for certain groups including women, unemployed people and those on low incomes

Report stated that financial education should begin in early childhood, ideally in pre-school education, adding that currently, many financial education programmes for children and young people are aimed at senior cycle in secondary school.

About 43% of adults in Ireland do not have the minimum financial literacy needed to manage their money on a day-to-day basis, a report by the Department of Finance has found.

Released on Friday, Finance Minister Michael McGrath published a mapping report looking at the development of a National Financial Literacy Strategy in Ireland, calling the report a "significant milestone."