Here in the States home economics was required, we have a different system of grade levels compared to the United Kingdom. I went to high school in the mid 70s. I don't the home economics is required now, it's an elective, although in many schools they no longer provide classes. Most people I know here in the States The majority of people under 30 don't know how to cook from scratch. They totally depend on pre packaged food and this shows in the obesity epidemic we are suffering from. I also took sewing classes and classes on how to manage my money. Debt and credit weren't a positive in my school days, I still avoid credit card debt and don't own a mortgage.
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I have left school now and am studying towards a degree at university but I know a lot of schools don't offer textiles or food and nutrition classes anymore which I think is disgusting. The amount of saturated fats and salt in ready meals is terrifying and people don't understand this because they don't have access to that sort of education.
Whilst we have the choice of whether or not we rent or buy a house I think it is still important to teach these things in schools so that people can make an informed decision for their adult life. I knew about debit and credit cards but we also learnt about when purchasing for holidays you sometimes get some insurance when paying with a debit card, which I would never have known if I hadn't taken this class.