- The lowdown
My Money is a £10m government programme to improve financial education in schools. Commissioned by the Department for Children, Schools and Families (DCSF) in conjunction with the Personal Finance Education Group, the aim is to give young people the skills to become financially responsible adults.
- Why is the DCSF doing this now?
The programme has been developed in response to the growing need to prepare children for their financial future. It accompanies changes to the secondary curriculum from this autumn - 'economic wellbeing and financial capability' will become a strand of personal, social, health and economic education. Practical money skills will also be integrated into mathematics lessons.
- Who is being targeted?
Activity will target local authorities, school leaders, teachers and parents.
The focal point of the programme will be to create a national My Money Week, encompassing activities to engage pupils, parents and teachers, in July 2009. There will also be broader awareness-raising via stakeholder engagement and media relations.
- Any potential downfalls?
'Feedback from teachers shows that while they recognise the vital importance of personal finance education in schools, many lack the time and confidence to deliver it,' said Blue Rubicon's Victoria Grenyer. 'Our challenge is to raise awareness of the new resources and support available, and demonstrate to schools and local authorities that this can easily be adopted and embedded in the school timetable.'
Picture: JH Lancy/HML