Financial education in English schools

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Financial education in English schools 4
December 2008 Wendy van den Hende Chief
Executive, pfeg Alastair Mathews Director of
Policy, pfeg
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The governments long term aspiration
All children and young people have access to a
planned and coherent programme of personal
finance education so that they leave school with
the skills and the confidence to manage their
money well. HM Treasury consultation paper on
financial capability (January 2007)
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pfegs mission is to make sure that all young
people leave school with the confidence, the
skills and the knowledge in financial matters so
that they can take part fully in society
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What does pfeg aim to do?

• Meet the needs of children and young people aged
  4 19 years
• Focus on teachers and senior leadership teams
• Increase the quantity and the quality of person
  finance education
• - Quality Mark
• - www.pfeg.org
• - innovative projects
• Influence policy

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pfegs approach

• Make it easy
• Keep it mainstream
• Work with teachers
• Aim for long term sustainability

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pfegs approach

• That means
• Clear guidance on the curriculum and on good
  practice for financial education
• Easy access to good quality teaching resources
• Case studies of other teachers work and teacher
  designed resources
• Encouragement of lively pupil-active pedagogy
• Importance of assessing progress in financial
  learning

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pfegs flagship projectsat the cutting edge of
innovation in schools
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Learning Money Matters

• 5 year project for English secondary schools
  funded by FSA year three started in April 2008
• Around 3,000 schools signed up
• 21 home based consultants working to 5 regional
  offices
• Comprehensive, customised support

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Why Learning Money Matters
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Never too young to start
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What Money Means

• 5 year project for English primary schools funded
  by HSBC just coming to the start of year 3
• Working with more than 30 local authorities to
  test out ground breaking ways of teaching
  personal finance education in a variety of ways
• Materials developed will be available to all

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My Money

• 3 year programme funded by the Department for
  Children, Schools and Families
• Coherent working across primary and secondary
  schools
• Building capacity within local authorities
• Developing an annual My Money Week
• Providing materials, training and support for
  schools
• Raising awareness

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Financial Lifestyle Planninglinks England and
Scotland

• 15 month programme funded by AEGON
• Development of a digital resource for 14-18 year
  olds
• Demonstrates the value of long term financial
  planning
• Integrates financial, awareness with lifestyle
  themes such as health and leisure

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What needs to be in place?

• Teachers need training and support if they are to
  succeed with financial education
• Off-site training needs to be combined with
  in-class support
• Development of attitudes in both teachers and
  pupils is crucial
• Gains and progress can be quick when everything
  is in place
• Support from government and the finance industry
  is vital

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Recent Quality Mark resources
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Dream PlaygroundsEdcoms RBSOctober 2007

• Key stage 2 3
• Free resource

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Active Money and Turning PointsCreative
PathsApril 2008

• Key stages 3, 4 16 19
• 125.00 for Active Money and a Turning Points
  game
• 270 for School Pack,1 Active Money file and 5
  games
• 45 For Turning Points game

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CreditabilityExperian Caspian LearningJune
2008

• Key stage 4
• Free resource

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Money MaestroIan MorganAugust 2008

• Key stage 4
• 199 for a yearly school license to this online
  resource

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Counting Money The Cost of MoneyNationwide
Education DBDAAugust 2008

• Key stage 1 2
• Free resource

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Contact

• Wendy van den Hende, Chief Executive
• wendy.vandenhende_at_pfeg.org
• Alastair Mathews, Director of Policy
• alastair.mathews_at_pfeg.org
• www.pfeg.org
• Tel [phone]

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