MP hopes for better financial education in schools

Alison Seabeck, MP for Plymouth Moor View, is encouraging more local schools to teach financial education this June, to give their pupils a head-start in financial education before it becomes a compulsory part of the new National Curriculum in September.  

The move comes in advance of this year’s My Money Week (9-15 June), run by national financial education charity pfeg (Personal Finance Education Group).

Many schools in Ms Seabeck’s constituency already teach children how to manage their finances and now every primary and secondary school in Plymouth is being given the chance to take part in My Money Week, which aims to help young people learn more about money and personal finance, for free.  This year My Money Week will be themed around current affairs, challenging young people to improve their financial skills, knowledge and confidence through topical lessons and activities on personal finance.  As the UK’s leading financial education charity, pfeg is offering teachers in Plymouth free online resources, advice and training to help plan their activities.

Alison Seabeck MP, a member of the All Party Parliamentary Group (APPG) on Financial Education for Young People, said: “Many schools in Plymouth are already very good at teaching their pupils about the importance of financial management and how to look after their money and spend it sensibly. However at a time when many people are feeling a squeeze on their wallets we really do need to make sure our children have good financial literacy so they can take those skills with them into adult life.”

Financial education will become a compulsory part of the National Curriculum for the first time this September, after years of campaigning by, pfeg and MoneySavingExpert.com’s Martin Lewis.  The move only affects secondary schools still under local authority control, however pfeg initiatives such as My Money Week are designed to get all schools involved in financial education, including all primary schools, Academies and Free Schools.

Since the first My Money Week in 2009, millions of young people have been helped to understand more about money and personal finance through focused activities in schools.  In 2013 My Money Week reached approximately 1.3 million young people in more than 4,500 schools and other settings across the UK.

Schools and other organisations that work with young people can find out more about My Money Week at www.pfeg.org/mymoneyweek