Financial Education Forum - Member Updates May 2020 - Young Enterprise
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Financial Education Forum Member Updates May 2020
FINANCIAL EDUCATION FORUM PAPERS, MAY 2020 2
Introduction from Sharon Davies
Chief Executive of Young Enterprise
These are extraordinary times that we are living through, and firstly, I
very much hope that you and your families are safe and well.
The Covid-19 pandemic presents extreme challenges for all members of
our financial education community in terms of economic impact, as well
as personal impact. Speaking from the charity perspective here at
Young Enterprise and Young Money, the charity sector overall has been
particularly hard hit. Most charities are seeing a very sharp drop in
income, and this is not just in the short-term during lockdown. For the
months to come we will be experiencing the ramifications of Covid-19 in
terms of vastly reduced income for our charity sector.
We will have to see how successful the Government’s support package is in supporting the economy and
specifically the charity sector.
Returning to the Financial Education Forum, our last meeting in October 2019 seems like a lifetime ago. We
have since had the General Election and have formally exited the EU. We have of course also had a
Government reshuffle or two – Gavin Williamson remains in charge of Education, with John Glen still
Economic Secretary at HM Treasury, but with changes to other key portfolios such as the Chancellor.
The APPG on Financial Education for Young People, for which Young Money acts as Secretariat as you
know, was formally reconstituted as a group in January, as required following a General Election. The new
vice Chairs of the APPG have been elected, Chaired by Julian Knight MP. There is of course a large group
of MPs who are new to Parliament, with a lot of interest from these new MPs in the APPG. Julian Knight MP,
our Chair of the APPG, has been selected to be Chair of the DCMS Select Committee, though he has
affirmed his strong commitment to the cause of financial education and remains firmly in charge of the
APPG.
We shall see over the coming months how the Parliament handles its hybrid remote working arrangement,
and how successfully Government is held to scrutiny. Ministers will no doubt be preoccupied with Covid-19
response, as will backbenchers with constituency concerns.
I wish you all the best for the weeks and months to come.
Sharon Davies, May 2020
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Financial Education Landscape – an update
New Government
Following the General Election in December 2019, the Prime Minister appointed a new Cabinet and there
has also been a reshuffle.
Key appointments for our financial education community are: Gavin Williamson has taken over from Damian
Hinds as Secretary of State for Education. Nick Gibb MP remains Minister for School Standards. John Glen
retains his post as Economic Secretary with responsibility for financial inclusion, and Guy Opperman MP
retains responsibility for the Money and Pensions Service and financial inclusion.
New Select Committee Chairs and their members have also been selected. For Education, Robert Halfon
MP retains his Chairmanship. Mel Stride MP is Chair of the Treasury Select Committee and Stephen Timms
MP is Chair of the Work and Pensions Select Committee.
Labour’s new Leader has announced his new Shadow Cabinet. Rebecca Long-Bailey has the Education
portfolio, Jonathan Reynolds is Shadow Work and Pensions Secretary and Anneliese Dodds is Shadow
Chancellor.
APPG on Financial Education for Young People
The APPG was formally reconstituted at a meeting in January 2020, following the General Election. The
Chair remains Julian Knight MP. Vice Chairs elected for the APPG were Jonathan Reynolds MP, Jerome
Mayhew MP, Drew Hendry MP and Marion Fellows MP. There has been a lot of new interest from MPs in the
group.
How does Parliament sit under Covid-19?
The House of Commons has published details about how it will function. Up to 120 MPs are to take part in
proceedings virtually, while around 50 remain in the chamber under strict social distancing rules. All
Members are encouraged to work virtually, especially as any MP in the Chamber will be treated the same as
one appearing virtually and would only be called to speak if listed.
Some MPs will be able to take part in Prime Minister’s Questions, any urgent questions and statements via
video link for the first two hours of each sitting day. A number of screens will be placed around the chamber
to allow the Speaker and MPs present in the chamber to be able to see their ‘virtual’ colleagues.
To ensure all Members are treated equally, those joining by ‘Zoom’ will be expected not to display or draw
attention to objects to illustrate their contributions. There will be no opportunity for interventions and no
points of order should be raised. If a Member is called but cannot be heard or seen for technological
reasons, it will be possible for them to be called later in the proceedings.
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News from Financial Education Forum Members
The following section provides an opportunity for Forum Members to share information and updates on
current financial education activities for children and young people with fellow members.
If you would like to contribute to future editions, information relating to submission dates and formatting are
included in Forum invitation emails.
Updates should be in Word format and should contain a maximum of 500 words. Updates can include
pictures (with the necessary permissions in place), but should be no more than one A4 side in total, and will
be adjusted to fit our template if necessary. Although we try to be flexible, updates arriving after any given
deadline are not guaranteed to be included.
Young Enterprise is not responsible for the content of member updates.
This issue we have received updates from the following organisations:
• Money and Pensions Service ……………………………………………….. 5
• Money Saving Expert ………………………………………………………… 6
• City Pay It Forward …………………………………………………………… 7
• Building Societies Association ………………………………………………. 8
• Just Finance Foundation …………………………………………………….. 9
• MoneyTime ……………………………………………………………………. 10
• LifeSkills / Barclays and Hopscotch Education ……………………………. 11
• MoneySense / NatWest ……………………………………………………… 12
• MyBnk ………………………………………………………………………….. 13
• Money Academy / The Nottingham Building Society ……………………… 14
• Stop Loan Sharks / The England Illegal Money Lending Team …………. 14
• Young Money …………………………………………………………………. 15
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The vision of the Money and Pensions Service (MaPS) is
everyone making the most of their money and pensions. We
are an arm’s length body of government committed to ensuring
that people throughout the UK have guidance and access to
the information they need to make effective financial decisions
over their lifetime.
UK Strategy for Financial Wellbeing: In January 2020, MaPS published the UK Strategy for Financial
Wellbeing. The strategy is a 10-year framework, which will mobilise key sectors to achieve five National
Goals. One of these is a goal of two million more children and young people getting a meaningful financial
education. MaPS has brought together two groups, one cross-sector and one Financial Services, to develop
a set of recommendations to meet the goals. These ‘Challenge Groups’ will be the source of ideas that will
drive delivery plans to enable each four nations of the UK to contribute towards the national goals.
In light of COVID-19, the Challenge Groups will be making short term recommendations in July 2020
regarding how the country should rebuild people’s financial wellbeing. To provide context to each challenge,
we have created a series of challenge packs. The Challenge Groups will deliver UK wide plans by March
2021.
The UK Children and Young People’s Financial Capability Survey: MaPS has conducted a nationally
representative survey of the financial knowledge, attitudes, mindsets and behaviours of 7-to 17-year-olds
and their parents, living in the UK. We found that only 38% of children and young people recall learning
about how to manage money at school, down from 40% in 2016.
4-6-Year-Old Financial Capability Qualitative Study: MaPS has undertaken a qualitative study to better
understand the financial skills, knowledge and attitudes of 4-6-year olds and their primary carers. The study
shows that young children’s understanding about money primarily comes from home and family. School
lessons provide the necessary mathematical skills and role-playing scenarios to support this real-life
learning.
Pathfinder programmes: We are working with partners to co-design and test ways to embed and scale
quality, evidence-based, financial education. The total budget for CYP pathfinders is over £2million.
The Covid-19 crisis has undoubtedly created new challenges. Plans on how to deliver the pathfinders under
new circumstances are being considered – however the pathfinders will remain focused on the following
areas:
• Delivering financial education to 20,000 16-17-year-olds in England to prepare them for independence.
• Delivering Talk Learn Do, a financial capability programme aimed at supporting parents to talk to and
teach their children about money in Northern Ireland and Scotland.
• The development of financial education teacher training focusing on years 6 & 7 and delivery through
regional education consortia in Wales.
• The adaptation, print, promotion and delivery of financial education textbooks for 14-16-year-olds in
Northern Ireland, Scotland, and Wales, based on Young Money’s Your Money Matters for England.
• UK-wide funding targeted at post-school young adults under 25 who are transitioning into and between
tertiary education and training, accessing Universal Credit, and entering the labour market. These
projects will run until Autumn 2020.
Innovation fund: MaPS is setting up a financial education innovation fund, which will fund the delivery of
pilots of new solutions to CYP. The innovation fund will focus on: 1) CYP under the age of seven years; and
2) CYP in vulnerable circumstances. MaPS is considering expanding the fund to include digitising content
and making financial education delivery more accessible for harder-to-reach populations.
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Martin Lewis: Student Loans Decoded is
a groundbreaking, no-nonsense, authoritative
video guide to student finance and the real
impact of higher education on both students' and parents' pockets. Produced by
MoneySavingExpert.com (MSE), the video now comes with an accompanying teacher guide, created
with Young Money, to help educators bring this vital information to life.
In the video, Martin speaks to a lively group of 100 pupils at Queens Park
Community School in north-west London, shattering popular myths and
challenging the widespread misinformation that risks many young people
not understanding – in practical terms – whether they can actually afford
to go to university.
The video is split into four chapters, and comes with a number of teaching
activities that can be run in a classroom or educational setting, such as a
careers day, assembly or options evening. The activities are mapped to
the financial education planning framework, and the teacher guide has
received a Quality Mark from Young Money. The video chapters cover:
1. How much does it cost to go to university?
2. How much are parents expected to contribute?
3. How are student loans paid back?
4. How does the interest on student loans work?
Martin Lewis
“Student finance has long been a political hot potato. The venom spat across the House of
Commons has led to widespread confusion and misunderstanding.
“Schools need to replace the politics with the practical. Only by understanding the true cost of going to
university can students and their parents objectively decide if it's right for them. While some rightly choose not
to go to university due to the cost, many reject it based on financial myths. That's tragic.
“Too many are put off by the high price tag on tuition fees, and the overall 'debt' figure they're left with, even
though that bears little resemblance to what they actually repay. Too few consider the greater challenge of
affording to live while studying. Last year, we launched our Student Loans Decoded lesson-length programme
– we've had great feedback, but many teachers wanted more.
“So now, together with the Young Money charity, we've created a linked teacher guide, mapped to the financial
education planning framework, to make the lesson planning even easier. And as it's received the Young Money
quality mark – a stamp of approval for financial education – you can be assured that it meets all the
requirements for your classes.”
How can you help?
1. If you are an educator, give it a go! Even during school closures, the resources can support young
people to continue making important further education choices at home. Student Loans Decoded is
available from both MSE www.moneysavingexpert.com/students/student-loans-decoded/ and Young
Money www.young-enterprise.org.uk/resources/student-loans-decoded/.
2. If you represent an educational organisation or charity, please include Student Loans Decoded in your
recommended resources. Contact press@moneysavingexpert.com.
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City Pay it Forward is a charity that works with schools to teach
students the basics in financial literacy. It was started some years ago by
a group of civically-minded senior business professionals who decided to
use their experience as parents and their knowledge as finance
professionals to fill a gap in the curriculum. The aim is to help address
some of the issues of youth indebtedness by educating younger
generations around financial literacy topics and to make sure that good
financial habits are developed early on in life.
Primary School Year 6 Curriculum
We recently collaborated with a dozen leading educators and used
our interactions with over 15,000 students at over 150 schools across
the country to create and publish a comprehensive, standalone
financial literacy curriculum for year 6 students.
The City Pay it Forward Year 6 financial literacy curriculum is
comprised of four parts including a Teacher’s Manual, PowerPoint
presentations, videos to be used in class and teacher’s notes to make
the materials simple to teach. The curriculum has been peer-reviewed
and benefits from the Young Money Quality Mark.
We secured sponsorship from various City firms and working together
with Rising Stars, a leading primary school textbook publisher, we
successfully delivered, free of charge, a hard copy of our Teacher’s
Manual to all 21,000 primary schools in the UK. The reception from
schools and teachers has been very positive and has led to many
other related initiatives which we are very actively pursuing.
Secondary School Investment Competitions and Work Experience
Our primary school materials are complemented by the work we do in secondary schools exploring topics in
investing, enterprise and financial markets. Our workshops with students aged 16-18 include investment
competitions, the latest of which involved more than 1,000 year 10 students across multiple schools. The
winning team from each school enjoyed a day’s work experience on a live trading floor.
Together with our Sponsors and other financial firms, we are also providing work experience programmes for
disadvantaged students for the schools we work with.
Collaboration
We provide everything we do at City Pay it Forward free of charge. We are driven by our single-minded passion
to make an impact in our community, amongst students and young people and to “pay it forward”. We depend
very strongly on collaborating with like-minded, entrepreneurial partners to help us expand the reach of our
programmes and are always looking for ways to work with new organisations.
You can reach us at info@citypayitforward.com
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The Building Societies Association, in partnership with Young Money, have launched free
financial education resources to help with home schooling during Covid-19 outbreak
The Building Societies Association (BSA), the body representing UK building societies, has been working with
Young Money for several years to develop materials that volunteers from building societies could use with
school children in their local operating area. The resources are brand-free and linked to the curriculum, and
include delivery notes, presentation slides and worksheets. Building societies have used them in schools
across the country, working in conjunction with teachers, and the feedback has been that they are very
engaging and stimulating sessions. The BSA also supported the programme by providing some funding for
schools’ access to the Young Money Lesson Plans. Clearly these sessions ceased when schools were closed
as a result of the Covid-19 outbreak.
A building society got in touch with the BSA to ask if they could use the resources for home schooling. However,
the resources were tailored for group sessions in the classroom. Young Money therefore took some of the key
exercises, and re-purposed them for delivery in the home by parents and carers, or for older children, by
themselves.
There are two sessions at each of the Key Stages 1-4, covering topics such as Needs and Wants, Simple
budgeting and Keeping money safe. The exercises include full guidance on how to deliver engaging and
relevant money activities in the home.
The resources are free to use and are publicly available either through the BSA website or Young Money’s
Digital Toolkits:
• www.bsa.org.uk/financialedu
• www.young-enterprise.org.uk/parent-toolkit
The BSA webpage alone has had over 1,300 page views since launch at the start of the latest school term at
the end of April. Several building societies are also sharing them with local schools with which they already
have a relationship, and the feedback has been excellent. Another society has set up a virtual classroom and
included the resources there. [Editor’s note: See Nottingham Building Society’s update on page 14.]
We welcome others using and signposting to these exercises, which can help to build stronger financial
capability for the future.
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The Just Finance Foundation has a vision of a fair
financial system and addresses the issues of financial
exclusion, distress caused by unmanageable money worries
and debt, and the lack of practical knowledge around budgeting,
saving and spending.
During the COVID-19 lockdown, we have shifted our delivery focus away from an in person and schools-based
model to digital workshops & resources.
Coronavirus Financial Help Hub
The Just Finance Foundation recognizes the significant impact that the COVID-19 outbreak will have on the
finances and daily lives of all in the UK. We are deeply concerned for our supporters, friends, families and
recipients of Just Finance Foundation interventions. We’ve created a resource to help our supporters and
project users navigate the COVID-19 outbreak. Updated at least once a day and covering such topics as sick
pay, difficulty paying bills, entitlements, budgeting, self-employment rights, and furloughing, this has quickly
become our most visited webpage. The demand for signposting information in a simplified way led to the
development of our Covid Cash Course.
Covid Cash Course
Released on 13 April, the Covid Cash Course (CCC) aims to prevent
financial challenges posed by the Coronavirus from causing crisis in local
communities. It is a non-advisory course that reassures and empowers
participants to understand economic safeguards, guides them to reliable
resources, and directly addresses the impact of Covid-19 on general
household finances. CCC runs on a “Train the Trainer” model, allowing it to
be facilitated by trusted members of the local community. Just Finance Foundation offer a preparation session
for those community minded trainers to ensure those who are inspired to deliver our pioneering scheme can
do so with confidence. Those who are unable to attend the training session are able to download the resources
directly and, with the aid of a guidebook and script, are able to begin delivering crucial signposting information
over video calls using a PowerPoint or over the phone if the participant has limited internet access. At the time
of writing, over 90 community and grass roots organisations have signed up for the course, with sessions
currently running 3 times a week to meet demand.
Daily Social Media Postings
Our Lifesavers programme in primary
schools has been suspended due to
school closures. However, we are still
reaching out to parents and members
of the community through social
media and our website. We have
created daily challenges that inspire
guardians to get creative and children
to explore what it means to be wise,
generous, just and thankful with
money, recognising that attitudes are
as important as knowledge and skills
in shaping financial behaviour.
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Greetings from down under. Given the current lockdown and need for home
learning, this update seems a good opportunity to introduce MoneyTime, a self-
taught financial literacy programme for students aged 10-14.
How It Works
MoneyTime incorporates 30 self-taught lessons and automatically marked quizzes,
covering the full spectrum of financial literacy. It is highly interactive, with students
having to input data regularly throughout the lessons. They are rewarded with money for each correct answer
to spend on avatars and investments within the program. Crucially, this spending component enables them to
learn by making their own ‘real life’ financial decisions. There is a strong emphasis on budgeting and having
to prioritise between spending, saving, donating and investing.
Additionally, there are 13 modules designed specifically for students to do at home with their parents. These
serve to reinforce the classroom modules and put the learning into their family context. They also provide a
fun way for parents to interact with their children.
The Numbers So Far
MoneyTime was launched in June 2018 and so far, we have 423 schools using it in New Zealand (30% of the
market). It is highly effective, with comprehensive testing revealing a 43% average increase in knowledge
across all topics for over 10,000 students in 2019. The programme has proven to be: (1) Easy to use; (2)
Popular with teachers and students; (3) Effective across all deciles; and (4) Scalable for large user numbers.
UK Opportunity
We are now exploring opportunities to offer the programme internationally; this brief video outlines our vision
to make an impact on people’s financial outcomes globally. We think the UK is a good fit for the programme
given the size of the market, availability of the necessary technology (high speed broadband, Wi-Fi
connectivity, availability of devices in schools) and our mutual heritage ensuring the programme content is
relevant (banking system, laws etc).
UK Support
We spent 2 weeks in England at the beginning of 2017 talking to both primary and secondary school teachers
about the potential for such a programme. Key take-aways were ease of use, flexibility around timetable
scheduling and lack of teacher knowledge. These have all been addressed. To our knowledge our 100% self-
directed and gamified programme is unique in the market and is a step ahead of any other financial literacy
resource currently available.
A recent survey of English schools indicates a good level of support, especially from secondary schools.
Independent schools and academies are generally prepared to pay for the programme, but government funded
schools are operating on tight budgets and as financial literacy is not yet a mandated subject it’s a low priority
budget wise. So our intention is to provide the programme free of charge to all UK schools with sponsor
support.
Young Money
Our UK launch will be as soon as sponsorship is secured. We have an established relationship with Young
Money and propose to have the programme customised, tested and quality marked by them before launch.
www.moneytime.co.nz
Neil Edmond | MoneyTime (NZ) Ltd | neil@moneytime.school
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How LifeSkills is supporting financial education right now
The Covid-19 (‘coronavirus’) situation is understandably
creating a lot of uncertainty and affecting the teaching
community in new and unforeseen ways. In addition, many
people may be feeling unsure about their future and finances,
or adapting to working in new environments.
That’s why LifeSkills created with Barclays is committed to providing people with access to free interactive
online tools and resources tailored to their stage in life, including weekly on-demand films, to support
employability skills development, money management and more. For young people completing their
education from home, with the help of their families, to businesses in need of support and adults looking for
opportunities to upskill themselves, there is a wealth of support available through our website.
Supporting educators:
We offer free learning modules, films, independent activities and interactive content which can be delivered
remotely for educators to use with young people in education, and organisations such as charities, housing
associations and local authorises to use with adult learners.
Young people
Educating young people looks a little different now, so we have adapted some of our most popular and
relevant lessons in response to the needs of teachers, parents, carers, and anyone supporting a young
person through their education.
Helping young people understand how to manage money now can help to set them up with good money
habits as they enter adulthood. We have created a series of easy to follow activities to explore financial risks,
fraud and scams, and budgeting which parents can use at home with their young people.
These include guidance and example answers, as well as supporting worksheets that can be printed, or
viewed and completed online.
Adult learners
LifeSkills resources can also assist those working with adult learners who are feeling unsure about their
future and finances. From online safety to budgeting and financial planning, as well as signposting to
organisations that can offer financial support and advice, there is a range of activities and webinars available
to continue to provide the help adult learners need.
Supporting independent learning:
The Young Person’s hub supports those aged 14+ to continue to build their skills and prepare for the future,
through access to interactive tools, films and engaging activities.
For Adult learners, the ‘Changing Worklife’ hub includes content to support building their confidence with
finances, adapt to working in new environments, help them understand more about flexible working, staying
motivated and workplace wellbeing. The programme also continues to work closely with charity partners to
provide as much support as possible to those who need it the most.
To find out more, visit www.barclayslifeskills.com and select the hub that best suits your needs to explore the
available support.
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NatWest MoneySense: introducing new ways of learning
about money in a changeable educational climate
NatWest MoneySense, our free financial education programme has seen a
leap forward in its approach to educating children since the beginning of
2020. With the introduction of our new CEO, Alison Rose, whose emphasis
on financial capability in our communities is stronger than ever, NatWest
MoneySense is one of the key ways teachers and parents can teach
children about money from an early age. Furthermore, with the closure of
schools during the Covid-19 crisis and the need for teachers and parents to
access educational resources more than ever, NatWest MoneySense has
reacted to the global crisis with a number of new and exciting developments.
MoneySense Home Learning
While there have always been resources available to parents on mymoneysense.com, with millions of
parents across the UK adapting to home schooling, the need to provide home learning activities for children
has become apparent. Our new Home Learning hub addresses this with themed bundles of content available
to parents instantly, and covers basic money topics for 5-16-year-olds. Each bundle includes two activities
per age group (5-8, 8-12 and 12-16) that can be completed independently or with help from their family. We
are also introducing five new articles that support parents, starting with Home schooling: Expert advice for
parents. In its first two weeks of launch, MoneySense Home Learning received over 30,000 visitors.
Live teaching with MoneySense Mondays
In a bid to bring fun and interactive teaching into homes, we launched our new MoneySense Mondays
lessons on Facebook. Every Monday a Community Banker joins a teacher to tackle a key money topic with
KS1 and KS2 children and their parents, which is broadcast live via Facebook. Over 1,200 people tuned in to
the first lesson, with a further 23,421 watching it afterwards as part of their home schooling timetable. The
lessons will be broadcast until the 8th June and will be housed on our YouTube channel – making them freely
available to parents whenever they need them.
As of March 2020, 16,834 schools and 46,268 teachers are
Distance learning bundles for teachers currently registered to use the MoneySense programme.
For teachers, the current climate has left them unable to do their job in the usual way. New approaches to
teaching are being sought after, and teachers are under a lot of strain to provide resources for children at
home. The new MoneySense Distance Learning bundles seek to alleviate the stress for teacher’s by
providing ready-packaged teaching plans that can be sent home to primary-aged children, to support parents
in their home-schooling.
Gamified money learning for students
Island Saver is a new fun and educational game created as an
extension of our existing learning resources for teachers and parents. It
allows students to immerse themselves in a series of money-themed
tasks, as they explore a group of islands destroyed by climate change.
Through gameplay they encounter numerous ‘money missions’ – these
range from earning money and feeding the islands’ animals to trading,
managing needs and wants, and even getting to grips with tax and foreign exchange rates. To accompany
their learning, parents have access to a range of new activity sheets on mymoneysense.com/island-saver
that act as talking points between parent and child and bring valuable learning to young people. Island Saver
is available to download for free on PlayStation, Xbox One, Nintendo Switch and Steam.
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Stepping up
Young people will be most affected economically by the coronavirus
pandemic, according to the IFS. Financial educaiuton has an
important role to play.
To help navigate the disruption MyBnk has created a dedicated
space featuring service updates, new products and support for
young adults, including a special guide with The Mix.
We are accelerating efforts to develop accessible digital resources for 5-25 year olds. If you would like to join
us on this journey, please contact info@mybnk.org. You can find out more about our work in our new Annual
Report.
Free home school programmes
MyBnk is delighted to share our first online financial
education offering: Family Money Twist - Years 1-2* and
Years 3-6**.
Aimed at 5-11 year olds, the courses are designed to help
children set positive money habits and mind-sets. It can
be led by parents, guardians, children or be incorporated
into educators' adapted curriculums.
Sessions include videos, quizzes and activities to teach children the value of money, budgeting, and delayed
gratification by making spending and saving decisions and gaining rewards.
Involving maths, drawing, literacy skills, art and drama, Family Money Twist brings money to the dinner table
and tackles often difficult topics to get the whole household learning how to save and spend responsibly.
This initiative is funded by KickStart Money.
*P1-2 - **P4-6 in Scotland
Young adults
MyBnk has launched a ‘virtual’ version of our youth homeless prevention scheme, The Money House.
Funded by the Berkeley and JP Morgan Chase Foundations, Pimco and L&Q, the scheme helps care
leavers and those in supported housing live indepdendently.
We have also started a weekly livestream for 16-25 year olds. My Moneycast is a 30 minute show focusing
on personal finance news and features explainers, special guests and Q&As. It aims to bring money to life
for young adults in a fun and engaging way whilst tackling some of the big issues affecting their income,
benefits, housing and employment.
Viewers can ask questions in the comment fields and have their queries immediately answered by a financial
education expert. You can also view previous shows.
Please spread the word to your young people and networks to tune in every Thursday at 4pm via MyBnk’s
social media profiles. Get in touch if you would like to appear as a future guest!
Team MyBnk
www.mybnk.org - info@mybnk.org - 020 3581 9920
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Money Academy
Following the launch of Money Academy lessons for Key Stage 2 in 2016,
we are making this a digital offering across various age groups with the
launch of our virtual classroom in May. This will also be complemented
by the introduction of an online hub featuring information for adult
members accessing financial services remotely for the first time and
being scam aware.
Story Parks
Following the success of the programme in 2019 in which
more than 15,000 children and adults attended five city-
based parks around Nottingham for storytelling and
activities linked to numeracy and literacy. More than 150
facilitated sessions were attended with round the clock
access to books and the ‘reading dens’.
For 2020 our virtual ‘park’ was launched in April -
see www.storyparksnottingham.com. This is a 12-week
online programme featuring a range of activities designed
to bring numeracy and literacy to life, after which we hope
to run our usual real-life parks again throughout the
summer.
The England Illegal Money Lending Team has launched a competition aimed at 7-11 year olds
being educated at home during the current lockdown. The competition is targeted at parents through
Facebook, and involves the family watching our “Stop Loan Sharks” cartoon and answering questions about
it. This leads them to a certificate which they can print and colour and post to our social media – with one
entry winning £50 Amazon voucher.
We are also breaking our lesson plans down into bitesize chunks which we are going to drip feed release
after the Easter Holidays. We are targeting this via social media, and are also approaching local authorities
to see if they could send it out via the schools.
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Young Money
An update from Russell Winnard, Director of Programmes & Services.
These are unprecedented times and we have seen the vast majority of
education pivot overnight to become wholly home learning. Teachers have
done an incredible job in ensuring that learning continues, making use of
virtual learning environments, video conference facilitates, and even
making direct phone calls to students to ensure engagement with learning.
It is understandable that priority is being given to core subject areas and examination subjects, however
financial education has never been more relevant to young people than now. Households are facing financial
challenges – times are tough. To include young people in some of these discussions can actually help
alleviate anxiety and stress within the home. Those young people in education during the 2008 credit crunch
have been proven to have been economically and developmentally scarred for over a decade – we must try
our hardest to ensure that this is not the case for young people today. Financial education will not solve this
on its own, but it must be part of the solution.
At Young Money we recognise that if teachers and parents are going to engage with financial education
home learning then we must make it as easy as possible. To that effect there are a range of amendments
that we very quickly implemented:
Digital Toolkits for Teacher, Parents and Youth Workers
We know that finding appropriate activities that can be used in a home learning capacity can be difficult
which is why, to provide additional support in these difficult times, we have developed three unique toolkits –
for teachers, parents, and youth workers. Each toolkit provides a range of free resources, activities,
competitions, and programmes along with brief guidance on how they can be used.
Young Money Challenge (from home)
You may remember that we introduced the Young Money Challenge in the last Forum papers, which was
originally intended to run from January to March and was therefore impacted by the Covid-19 pandemic.
With support from the funder we have extended the Challenge deadline to July and have provided Home
Learning Guides to help parents support children and young people with their Challenge entries. The
Challenge is themed around money management and environmental sustainability, an area we know
engages schools and their young people and we hope that by extending the deadline throughout the
summer term, more young people can engage with the activities and enter the Challenge.
My Money Week (from home)
We have also created Home Learning Guides to support the twelfth annual My Money Week, which will take
place in June as planned. A range of educators engage with My Money Week each year and we have made
sure to include flexible and adaptable materials that can be used in a home learning environment. We have
also introduced the brand new My Money Week resource hub, which will allow us to track online participation
in the Week. The resource hub is completely free and anyone working with children and young people can
register for an account.
Finally, we are pleased to soon be launching the alpha version of our Digital Teacher Training which will
allow educators to undertake our primary and secondary financial education CPD online at a time and pace
that suits them. We will be working with a small group of teachers in June and July to test the alpha version
with a view to the finalised package being available for the new academic year.
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Forum Members
We make every effort to keep our list of members up to date.
Please email forum@y-m.org.uk with any amendments.
1625 Independent People London Institute of Banking & Finance
1st Ethical London Stock Exchange plc
ACCA Low Incomes Tax Reform Group
Action for Children Mastercard Worldwide
Association for Citizenship Teaching MetLife Europe Ltd
Association of Financial Mutuals Metro Bank
AVIVA Money Advice Scotland
Bank of England Money and Pensions Service
Birmingham Business School MoneySavingExpert.com
Birmingham City Council Monkeys Money Club
Blackbullion Ltd MSE Charity
Building Societies Association MyBnk
Business into Education Ltd NAHT
Capital One NASMA
CarrickWorks Ltd National Savings and Investments
CFA Society of the UK National Schools Partnership
Charities Aid Foundation NatWest
Chartered Banker Institute NCB (National Children's Bureau)
Chartered Insurance Institute NEST Corporation
Child Maintenance and Enforcement Commission Nimbl Limited
CISI NMBA
Citizens Advice, Central Office Nomura International plc
Citizenship Foundation Nottingham Building Society
City of London Nsure
City Pay It Forward Oaks Park High School
Clifford Chance Open University
Coleg y Cymoedd Osper Ltd
CCEA ParentPay Ltd
Coventry University Payplan Ltd
Credit Union Foundation Pensions Advisory Service
Debt Advice Foundation Prudential plc
Deloitte & Touche Prudential UK and Europe
Department for Business, Innovation & Skills PSHE Association
Developing Youth Practice Quaker Social Action
Dom Education Group Quilter plc. (previously Old Mutual Wealth)
Economics, Business & Enterprise Association Quo Money
EdComs Redington Ltd
Edith Neville Primary School Royal London Group
Education Connections Sale Sharks Rugby Club
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Forum Members (cont’d)
Empowering Kids and Youth SARN Associates
Enterprise in Schools Network SharedEd
Equality Trust SimplyBiz Services Ltd
Experian Ltd Sky News
FairLife Social Publishing Project
Fidelity UK Foundation St James' Place Wealth Management
Finance 4 Kids Stewart Ivory Financial Education Trust
Financial Harmony Stoke on Trent CAB
Financial Ombudsman Service Stoneware Capital LLP
Financial Services Compensation Scheme Student Loans Company
FinLit UK Ltd The Association of Investment Companies
Go Henry The British Museum
Hebe Foundation The Centre for Social Justice
HM Revenue & Customs The Children's Society
HM Treasury The Co-operative Group
Hopscotch Consulting The Giving Department
HSBC UK The John Warner School
Innovalue Consult The Money Charity
Institute and Faculty of Actuaries The Pensions Archive Trust
ICAEW The Personal Finance Society
Institute of Credit Management The Royal Bank of Scotland Group
Institute of Education The Share Centre
Invesco Perpetual TISA (Tax Incentivised Savings Association)
Investment Management Association Tower Hamlets EBP
ITI Group UBS AG
J. P. Morgan UK Finance
Jupiter Asset Management Limited UK Social Investment Forum
Just Finance Foundation Unique
Killik and Co University of Birmingham
Kings College London CHASM, School of Social Policy
Learning & Work Institute University of Greenwich
Legg Mason Global Asset Management Visa Europe
LINK WizeUp
LITRG Young Enterprise
Lloyds Banking Group Zinc Media
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Financial Education Forum Contact Details
Event content
Russell Winnard, Director of Programmes and Services
russell.winnard@y-e.org.uk
020 7330 9475
Forum Administration
Emma-Jayne Turner, Senior Programme Manager
forum@y-m.org.uk
020 7330 9487
Young Enterprise & Young Money
The Coram Campus
41 Brunswick Square
London
WC1N 1AZ
www.young-money.org.uk
www.young-enterprise.org.uk
If your organisation would like to host a Financial Education Forum, please email
emma-jayne.turner@y-e.org.uk
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