Young Enterprise UK’s Post

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

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 year has passed since we collaborated with Compare the Market to produce research on financial education in UK schools. We found that only 2/5 of young adults were financially literate and 61% did not recall receiving financial education at school. To tackle this, we recommended that 30 hours a year of financial education be guaranteed for every 11-18 year old, regardless of which education pathway they are on and to include financial education in regulatory frameworks. Teachers told us that on average, they believe they need 12 days to train themselves to deliver financial education content. In addition,they believe that an average of 82 minutes of preparation is needed to prepare the material required for an hour-long financial education lesson. We recognise that teachers are under pressure and that's where myBnk comes into the picture. We deliver our fully funded workshops to schools across the country allowing teachers to trust us to deliver quality financial education in an fun and easily digestible way, appropriate for primary and secondary school aged pupils in the UK. Find out more about our research: https://lnkd.in/eqnWCYc7 Keen to book a financial education session fo your school? Visit the page below: https://lnkd.in/eEDrkj7R #Research #FinancialEducation #PrimarySchool #SecondarySchool #FinancialLiteracy #charity

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  

There is an ever-growing need for financial education. Recent research by GoHenry shows that 84% of children and teenagers would like to have more financial education in school and over 40% of primary school children are already worried about leaving school without any money skills. https://lnkd.in/g7hJD_sv In addition, this Financial Times article highlights that only 1% of UK primary school teachers think pupils have ‘adequate’ financial literacy. https://lnkd.in/eKnRs8Hn These numbers reiterate what MyBnk’s research with Compare the Market a year ago showed, that 2/5 of young people leave secondary education without feeling like they have enough financial education. https://lnkd.in/eqnWCYc7 Since the research was published, MyBnk and several other financial education champions like Gohenry have presented evidence to the Education Committee about the urgent need for financial education on our curriculum. Financial education is a life skill that every young person should have access to, the earlier the better. #FinancialEducation #FinancialLiteracy #charity

The #EducationSelectCommittee has today published the report from its recent inquiry into #FinancialEducation, and the Centre fully supports its recommendation that financial education provision in the UK must be expanded for primary-aged children. 🙌 🎉 This is a fantastic outcome, truly a landmark step to building a stronger financial future for children and young people across the UK! 🎉 📒 We are absolutely thrilled to see the Committee recommend financial education become a statutory part of the primary school curriculum, as this is an issue the Centre has been campaigning on since 2021 and through the KickStart Money campaign since 2018! 📖 We were also very glad to see the Centre’s research mentioned in this report – we contributed to the inquiry by submitting written evidence and through the compelling oral evidence of one of our Trustees, Louise Hill, CEO of GoHenry. 🏫 Our submission highlighted the dire state of financial education provision in primary schools, with our research finding that, shockingly, just 1 in 3 primary-aged children receive any form of financial education at school. We see the recommendations of this report as a major first step to improving on the current patchy delivery of financial education. Our Director, Stewart Perry, responded to the inquiry’s report:  “We are delighted to see the recommendation that provision of financial education should be expanded at primary level and that the subject should become a statutory part of the curriculum. We look forward to hearing the Government's response to the findings of this landmark inquiry, and we urge Department for Education to implement the Committee’s recommendations as soon as possible to give our young people the best possible chance at navigating today's complex financial landscape.” 💳🎮 You can read the full report here: https://lnkd.in/e_mFnXJk GoHenry Young Enterprise UK MyBnk RedSTART Educate FT FLIC | Financial Literacy & Inclusion Campaign The Money Charity Campaign for Learning The Just Finance Foundation Robin Walker Carol Knight Jane Goodland Tammie Tang Marcel Lukas, PhD LSEG (London Stock Exchange Group) Association of British Insurers Aviva Columbia Threadneedle Investments EMEA APAC Franklin Templeton Janus Henderson Investors Liontrust Asset Management PLC Newton Investment Management Quilter St. James’s Place TISA UK

I remember being genuinely shocked when discovering from a friend when I was about 17 that the government takes loads of your earnings in tax - I'd been completely unaware - they take how much?! With children in both primary and secondary school, I fully support efforts to make financial education compulsory. It's preparing them for the realities of adulthood - surely that's just as important if not more so that some of the other things that are currently on the curriculum. #financialeducation #investments #pensions

Start an Education Fund: 🎓 Education is one of the best investments you can make for your children’s future. Start an education fund early to help cover tuition costs down the road. #EducationFund #Savings #WealthBuilding

At MyBnk, we believe financial education including budgeting, saving and understanding financial products in the constantly evolving financial climate is a vital skill for young people. However, it's worrying to read that more than 3 in 4 teachers say pupils are leaving school without key financial skills. https://lnkd.in/d66TZaBM Reasons why ranged from other subjects taking priority over financial education, teaching staff not having enough confidence and over a quarter of teaching staff were not sure where to find the right support and resources. Through our financial education sessions delivered in schools and youth organisations, we aim to reverse this narrative so that all children and young people develop the money management tools they need to make sound financial decisions and take control of their finances. Have a look at the work we do below ⬇ https://lnkd.in/dd24Aav Money and Pensions Service YouGov #FinancialEducation #FinancialLiteracy #FinancialSkills #School #YouthOrganisation #charity

My latest for Barron's, about how 529 plans can be used to help fund education, and not just for the middle class! 🎓 Thanks Jill Jagelski Schofield for the pitch. #highered #education #educationfunding #529plans #wealthmanagement