Alison Pask, Vice Principal of Financial Capability at ifs University College, discusses how you can successfully integrate financial education into your curriculum.
1. What is the importance of teaching students to be financially capable?
Now more than ever we need to ensure that young people are able to make confident financial decisions. The economic landscape has increased the need for people to take responsibility for their economic wellbeing and to be able to make provision for their financial future. It is essential for full participation in society.
2. Why is it important for financial capability to feature in the National Curriculum?
Financial education is at its most effective when delivered regularly and students who have taken personal finance qualifications are more confident in managing their money, are more likely to rely on their own decision making, have greater levels of interaction with financial services providers and save more. This is the findings of the first edition of the Young Persons’ Money Index which is a result of research conducted amongst 2,000 14-18 year olds in the UK. You can see the full report here.
3. How can your students benefit from studying financial education?
A structured programme of financial education prepares students to take their place in society as responsible citizens by providing them with the skills and knowledge to manage their money well and make sound financial decisions. It will also give a young people an understanding of the wider realm of public finance and the economy.
4. What careers does financial education prepare your students for?
A sound financial education prepares young people for all careers as it gives them the ability to manage their finances well and reduce the potential stress of poor financial decisions.
Financial career options are many and varied and ifs University College degree programmes offer excellent progression. Full details of our full-time programmes can be found here.
5. How can you integrate financial education into your curriculum?
Financial education can be taught as stand alone qualifications or cross curricular using ifs University College GCSE and A-level equivalent programmes. They can be delivered to students from year 7 to year 13. They offer an excellent opportunity for delivery to vulnerable groups including those receiving free school meals. Using your pupil premium to support this teaching is an excellent option and one that many are following. The team at ifs University College are all experienced teachers and they can assist you in developing a bespoke programme of delivery.
They can be contacted on fccrm@ifslearning.ac.uk for more information and guidance.
