TSB Bank’s Post

Fully support the inclusion of financial education for our young people and essential this starts at primary level. I agree that our schools and teachers are in the best position to deliver this, however, there are hurdles to overcome to ensure effective delivery. Hurdles are broadly: teacher knowledge, time to deliver, and access to appropriate resources. I also believe the discussion about the need for financial education spotlights the need for greater educational reform, it is time for change and reform NOT more add-ons. #financialeducation #reform #timeforchange

A great discussion regarding financial education in schools. However teachers train to be specialists in their areas. External speakers with lived-experience of financial difficulties or careers in personal finance can compliment what is offered in schools. Charities and community groups are great source of support after all, they hear the concerns of young people. #financialeducation #financialempowerment #youngpeople

As a leading financial education charity, we’re delighted that this morning, our CEO, Sharon Davies, alongside colleagues from MyBnk, GoHenry, Santander UK, Association for Citizenship Teaching, PSHE Association and NAHT - The school leaders' union, was invited to give oral evidence to the Education Select Committee’s Inquiry on Financial Education.    As part of the evidence, Sharon suggested: "A sustainable solution for financial education is a teacher-led solution; we need to involve teachers; we need to trust them professionally. They know their learners better than anybody, and they can adapt the content in the best way for their students."   Over the last 60 years, we have championed the need for increased financial education opportunities for young people, and while there are many brilliant examples of provision across the UK, we believe the following three crucial areas need to be addressed so that all young people are better equipped for a fast-changing financial and economic world:   1. It needs to start earlier – financial education must be added to the primary curriculum to imbed this learning at an early age, shape attitudes, and build foundations for secondary learning. 2. It needs to be embedded across the curriculum and its profile raised through the Department for Education and Ofsted, so that schools prioritise the delivery of financial education. 3. Teachers need to be better supported with improved guidance, easier access to Quality Mark resources, and more time in the curriculum to deliver effective financial education.   To find out more about Young Enterprise’s financial education provision, visit our website: https://lnkd.in/e_pC4Jdk #Inquiry #FinancialEducation #UKGovernment

❓ WHY DON'T THEY TEACH THIS IN SCHOOL ❓ It's a question I've heard about financial education too many times to count. The good news is that they do. The bad news is that it's only in some schools. And that's the problem. There are lots of amazing initiatives aimed at teaching our young people the key life skills of how to understand and manage money. But, there's a lack of consistency and no guarantee that every young person will be in a setting where they get the financial education that they deserve. I'm not throwing any shade at teachers. I have the utmost respect for them and in my view they do one of the most difficult and important jobs in society. But the time, resource and knowledge in many cases isn't there. And we need to work to change that so that the young people of today who will be the adults of tomorrow have the money skills, knowledge and confidence to succeed financially. I've been a member of Young Enterprise' Financial Education Forum for over 5 years and last Friday, we met in London to discuss the many initiatives and research projects that are taking place in this area. We heard from: ⭐ Russell Winnard from Young Enterprise who gave an update on the All Party Parliamentary Group on Financial Education for Young People and the recommendations following their latest enquiry. ⭐ Helen Pitman from the Money & Pensions Service who presented the results of their latest Children and Young People’s Financial Wellbeing Survey. ⭐ Sarah Marks from RedSTART, a pioneer in children's financial education, who told us about their new app that links learning, earning and banking. It's really encouraging and exciting to hear the work that is going on in this space but it takes a village and we can't leave this up to schools and charities. We (parents, businesses and the financial services industry) all have a part to play. I'd love to know..what topic (and it doesn't have to be finance related) do you wish you learnt at school? #financialeducation #FinancialEdForum #money #personalfinance

GoHenry calls on UK government to make #financialeducation compulsory. 🔑 “Numeracy skills are vital both in the workplace and everyday life, but we would like to see the government prioritising the practical money skills children need to navigate real-world finance successfully,” GoHenry co-founder and CEO Louise Hill. 🔑 ‘Children’s debit card and financial education app GoHenry has launched a petition in the UK to help close Britain’s financial capability gap.’ 🔑 ‘The petition has been backed by charities including The Centre for Financial Capability and MyBnk.’ 🧠 ‘According to research conducted by University of Cambridge for the Money and Pensions Service, children form financial habits by the age of seven.’ 🗞️By Amelia Isaacs AltFi https://lnkd.in/daD6cQa9 👏 For the #FinancialInclusionChallengers reimagining inclusive financial services 🚀#fintech #financialservices #underserved #financialliteracy #uk #financialinclusion #financialexclusion

It has been great to see #FinancialEducation get so much high-profile attention in Parliament this week with our CEO, Sharon Davies, being invited to share crucial evidence at the Education Select Committee’s Inquiry into financial education, followed by the Short Debate in the House of Lords on improving the financial literacy of children through the provision of financial education in schools. Baroness Sater, Officer of the APPG on Financial Education for Young People, opened the Short Debate last night with the following:  “We know that the curriculum is already under pressure with many other priorities, but we also know that teachers want to teach financial education and children want to learn it. It is important to note that excellent materials are available from third parties and charities which help teachers deliver good financial education. Some of these resources, for example, those produced by #YoungEnterprise and #MyBnk, can bring teaching financial education to life by providing real-life situations, but sadly they are not delivered or available across all schools, adding to the lottery of life.” We’re at a pivotal point in our campaign to increase financial education provision across all school settings. However, the required solution needs to be one that is teacher-led, as they are at the core of the delivery. Young people will benefit the most from early intervention, embedding financial education from primary all the way through to when they leave school. This will need to involve strong support for teachers with improved guidance, access to Quality Mark resources and dedicated time in the curriculum for effective delivery. Then, and only then, will we be able to better equip young people to be financially capable now and in the future. Watch the full debate here: https://lnkd.in/eNQuWFWU Learn more about the APPG here: https://lnkd.in/gUA3ADP #HouseOfLords #ShortDebate #UKGovernment  

Such a great campaign and financial education is something that the school curriculum is greatly missing. I was fortunate enough to complete a Certificate in Financial Studies whilst at school and this was invaluable to me achieving some element of financial literacy at a young age.   I think the external teaching model is a good place to start as otherwise doing this solely through schools it may be difficult to get the right teachers in place and any upskilling to retrain teachers for this will take time.   Keep up the great work GoHenry!   #financialliteracy #education #development #makemoneycount     https://lnkd.in/euPQZEAP

You may have seen that yesterday we unveiled Future Skills: our new financial education programme for 16-18s, created in partnership with Young Enterprise UK. 🙌 Find out more about the campaign in the post below or check out this article from Tom Dunstan at FTAdviser: https://lnkd.in/ecVR7MqC #money #education #teachingresources #financialeducation #teachers #finance

It’s back to school again, but this year might look a little different if your child is no longer in high school. Though starting post-secondary education is an exciting time filled with change, it can also present challenges when covering costs. If you have been planning for this day by setting aside money in a Registered Education Savings Plan (RESP), you are already well ahead. Now, all you need to do is access the funds from that account and use it for your child’s education. Our new blog will answer all your questions about how to do so, covering the RESP withdrawal process in detail. https://lnkd.in/gznz7qY4 #calgary #yyc #investing

It's common to hear adults say "I wish I had that when I was younger" when referring to financial education. Let's change the narrative so that the adults of tomorrow say "I'm glad I had that when I was younger" as they navigate a complex world with a high financial acumen that all started when they were at school. MyBnk delivers financial education sessions across the UK through our programmes. Take a look at our work by following the link below ⬇ https://lnkd.in/dd24Aav Financial education is crucial for children and young people as it lays the foundations for the ability to make sound financial decisions in adulthood. So, we proudly support GoHenry's petition to make financial education compulsory in all schools from primary age. Let's help get over 10,000 signatures so the government is obliged to respond ⬇ https://lnkd.in/e88_iDVF #FinancialEducation #FinancialLiteracy #petition #GoHenry #charity