YBS is aiming to improve social mobility for UK pupils with its financial education programme
Yorkshire Building Society is aiming to improve social mobility for young people as it targets pupils across the UK to receive financial education lessons.
The Society is calling for schools to contact them at the start of the new academic year if they would like to sign up to be a part of the Society’s Money Minds programme.
Money Minds is a free programme consisting of a series of activities and projects designed to promote discussion and learning about money among children and young people aged five to 19 of all abilities.
Recent research by the Education Policy Institute suggests the most disadvantaged pupils are more than two years behind their classmates when they sit their GCSEs*.
Pauline Giroux, Yorkshire Building Society's Corporate Responsibility Manager, said:
We’re committed to supporting schools in teaching financial education and hope that our Money Minds programme will help to improve financial capability and social mobility across the UK. As research has shown that disadvantaged pupils are over two years behind their peers by the time they are 16 and we want to use our colleagues’ expertise in financial education to help narrow that gap.
Learning how to effectively manage finances is a vital life skill. Our Money Minds sessions are designed to engage pupils of all abilities and enable them to test and expand their vocabulary and understanding of money through fun activities. If you are a teacher who is interested in having a lesson delivered then you can register on our Money Minds website.
In the 2016/17 academic year over 8,000 pupils in the UK benefitted from a Money Minds lesson.
Money Minds activities and projects are delivered by Yorkshire Building Society colleagues as part of the mutual’s award-winning corporate volunteering scheme, which allocates each employee 31 hours’ paid leave every year to carry out volunteering in local communities.
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.
The activities seek to build decision making skills, team working abilities and practical maths knowledge as well as financial literacy.
Each Money Minds session is delivered in conjunction with a classroom teacher and each Society colleague completes a Classroom Ethics and Safeguarding Awareness course prior to leading the group.
* These were children that are entitled to free school meals for 80% of their time at secondary school - Data taken from The Education Policy Institute report - Closing the Gap?