What Money Means has been created by pfeg (Personal Finance Education
Group) as an ambitious five year programme to increase the quality
and quantity of financial capability education in primary schools.
The programme is supported by HSBC with an investment of
£3.4 million and involvement from up to ten thousand volunteers from across the
organisation. HSBC staff will share their expertise and assist schools in their
local communities to help children improve their understanding of personal
finance, working alongside teachers in the classroom where appropriate.
What Money Means will bring pfeg, local
authorities and educationalists together to develop resources and approaches
that will help primary school teachers feel more confident teaching money
skills to younger children. It will build on pfeg’s successful secondary school programme, Learning Money Matters.
Primary age
pupils have considerable awareness of money and a strong savings instinct but
by the time they reach their late teens many have already experienced debt. What Money Means is designed to help
meet the needs of individual schools, while making lessons relevant to
children’s everyday lives.
It includes action
research projects in local authorities that will provide the basis for
developing educational tools and techniques that are tailored to the specific
needs of both teachers and children, embodying creative, evidence based and
integrated approaches that complement existing lessons and will not overburden
already busy teachers.
What Money Means has been successfully
tested in schools with the assistance of local authorities from Bolton, Cambridgeshire, Coventry,
Essex, Hartlepool, Hertfordshire, Medway and
Tower Hamlets. This work included:
- exploring social and moral dilemmas around
money through literacy and oracy by using a poet-in-residence
- working with extended school clusters to
develop children’s and family learning in financial education
- developing classroom activities for years 1
to 6 using examples of children’s work to illustrate financial education in
practice.
By 2011, 36
local authorities will be part of What
Money Means, embedding a new way of teaching money issues at primary level
and creating a bank of personal finance teaching resources and techniques that
can be used by all 17,500 primary schools.
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