Why quality financial education is essential for all young people
A guest blog from our partners, The Money Charity
Most of us can think back and remember some maths, learning about numbers, getting to grips with arithmetic, perhaps some algebra and geometry, maybe even mastering Bodmas and Sohcahtoa!
But what about more everyday stuff? Did anyone ever explain to you how credit cards work? How to read a payslip? What’s involved in getting a mortgage? Or why pensions are important?
At The Money Charity, we believe that all Young People should receive quality Financial Education which will equip them with the skills, knowledge and confidence they need to manage their money well throughout their lives.
In fact, Financial Education has been part of the UK secondary school Curriculum since 2014, but still only 48% of young people say that they received any Financial Education at school or at home (MaPS, 2019.) What’s more, many teachers tell us they feel under-resourced and lack confidence in teaching young people about how to manage their finances in a rapidly changing world.
Our Workshops are delivered to classroom-sized groups of young people aged 11-19 and are specifically designed for those life stages. Most Workshops are 60 minutes long but can be delivered in a flexible or bespoke way to suit your needs. Every session is delivered by either our experienced staff or our team of expert freelance consultants.
What do the workshops involve?
Our Workshops cover the essentials of staying on top of your money, including using money to achieve your goals, savings, tax, how to read a payslip, understanding credit, as well as financial products like banking and student finance. Each Workshop includes a range of interactive activities, the chance to debate and discuss, with relevant takeaways for the students. We typically deliver as a part of designated lesson times, such as during Citizenship, Maths or PSHE, or on off timetable days.
You can find out more about all the different Workshops we offer by looking at our Workshops Guide.
Do they work?
More than 90% of pupils surveyed have said that they find our sessions valuable and that they learned something new, while independent evaluations of our Workshops concluded that just 1 hour of Financial Education made a big difference to pupils’ skills, knowledge and confidence with money.
While you’re on our website, you can also look at our great Financial Education resources, with options to support teachers delivering Financial Education themselves, as well as our Student Money Manual for those looking towards university.
We would love to work with you to bring vital Financial Education to your young people, so please don't hesitate to get in touch!