Financial Education in Schools

Enables IFA’s in Bishop’s Stortford have followed with interest this government’s delivery of a financial education in schools.  But understandably few teachers have felt fully prepared to teach financial education so there has been a real need to create the right resources.

 It’s interesting to take a look at the Personal Finance Education Groups (PFEG's) website where there are all sorts of resources becoming available to help things in the classrooms.  Chief operating officer Louise Hill had said: “I am a school governor and what became clear last year is that although financial education became part of the curriculum, the Government was not producing a lot of resources to help deliver that content.”  So inevitably other companies had created some of their own education programmes, Nationwide Education, which offers online games for children as well as worksheets and other resources for teachers. RBS has a Money Sense programme for 11-18-year-olds, which it says is used in 56 per cent of secondary schools across the UK and Ireland, including academies and independent schools, which do not have to follow the national curriculum.

But although Enables’ IFA’s in Bishop’s Stortford fully support the importance of financial education as early as possible it still like many thinks it may not be the best thing to have big brands getting in front of school children and it is right to be wary of banks going into schools as a branding exercise.  Many say teaching children how banks work doesn’t necessarily teach them that there’s a competitive market and they need to compare a number of banks and make a whole host of other sensible financial decisions as they grow up so it is good to see what PFEG's are offering.

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