Academy school financial education risk

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Young people in St Helens academy schools risk being left behind if they miss out on financial education, one of the country’s biggest financial services providers has warned.

Yorkshire Building Society is urging the borough’s academies to pledge to teach financial education even though they are not required to follow the national curriculum on which it appears.

The Society has written to all 5,000 academy schools in England to seek their commitment at the same time as launching Money Minds, a free financial education programme delivered by its colleagues, to help children aged five to 19 learn more about managing money.

Chief corporate affairs officer Andy Caton said that it was vital academies included financial education in their lessons.

“If academy schools do not deliver financial education then much of the great progress made in recent years to establish its importance within the curriculum will be lost,” he said.

“Pupils in academies that opt to not teach financial education are at danger of being left behind compared to those who are learning about managing money.

“At the moment we just don’t know how many children in academy schools will receive financial education which is why we have taken the step to ask them all to pledge their commitment to it.”

Money Minds comprises a series of activities and projects designed to promote discussion and share learning among children and young people of all ages and abilities.

Topics range from keeping money safe for ages five to seven, planning a party to learn budgeting skills for children aged eight to 11, up to calculating interest and responsibilities to repay loans for older children.