Although this topic become mandatory for secondary schools in 2013, recent research from the London Institute of Banking and Finance showed that 58 percent of students aged between 15 and 18 did not receive any form of financial education. Old Mutual Wealth is committed to boosting the financial awareness of the next generation of savers and is sponsoring a package of financial education measures.
The Competition winner’s school will receive £5,000 to spend on equipment and two runners up will each receive £1,500 for their schools. Every teacher who receives a nomination will receive a copy of the bMoneywize board game, which can be used in lessons and requires players to make financial decisions by exposing them to real-life financial situations.
To nominate a primary or secondary school teacher please email email@example.com with the name of the teacher and the name and the address of the school by the end of April. Moneywise will then contact the nominated teachers and ask them to submit their three favourite personal finance lessons. The winner and two runners-up will be announced at the Moneywise Customer Service Awards which will be held in London on 22 June 2017.
The judges are Suella Fernandes, MP for Fareham, Jane Goodland, responsible business director for Old Mutual Wealth, Moira O’Neill, Moneywise editor, Jeff Prestridge, personal finance editor of the Mail on Sunday, and Kirsty Bowman-Vaughan, financial education lead for the Money Advice Service.
Jane Goodland, responsible business director for Old Mutual Wealth said: “Gaining the skills and confidence to manage finances early in life is crucial. We are committed to teaching the youth of today how to tackle debt and make prudent spending decisions. We currently sponsor a financial education programmes in secondary schools in Southampton area, delivered by leading financial education charity MyBnk. We are now pleased to work with Moneywise as their awards provide an opportunity to showcase those schools and teachers in the UK who are helping build children’s understanding of managing their finances.”
Moira O’Neill, editor of Moneywise, added: “At Moneywise, we believe it’s never too soon for young people to learn about their finances, and that by mastering the basics early on in life, they will grow up to be the most financially savvy generation yet. But we need to encourage more teachers and schools to take this subject seriously, making personal finance lessons fun, interactive and relevant.”