Practical Financial Education Just as Important as New Maths GCSE

As the first cohort of students taking the new maths GCSE prepare for their exams, MoneySmartWorld is arguing that practical, financial skills must not fall to the wayside. The organisation is calling for a renewed focus on vital money knowledge that’s a core life skill.

The new maths GCSE aims to be more challenging and this year’s sixteen year olds will be the first to be awarded a mark on the new 9-1 grade scale. However, despite financial education being a compulsory part of secondary education, research¹ from The London Institute of Banking and Finance found that over half of pupils don’t receive any as part of their formal education. In fact, eight in ten students cite their parents or family as their prime source of financial understanding.

Marianne Lewis, Founder of MoneySmartWorld said, “It’s great that teens can turn to their parents for financial advice but it should form part of their formal education too. With the focus on the new maths GCSE, it’s time to look at the practical money skills our children are being taught in schools too. Obtaining GCSEs is an important part of school but equipping children and teens with the knowledge they need to be independent is just as important. The government and schools need to take steps to give financial education the prominence it deserves.”

MoneySmartWorld have made it their mission to take engaging financial lessons plans to schools across the UK. From primary aged children through to teens, the organisation is using its expertise to support learning in schools and at home. With a growing range of resources that teachers can tap into to deliver effective, time-saving lessons, MoneySmartWorld is set to become an invaluable tool for financial education.

In addition to the range of lesson plans and workbooks already available, the brand has revised and is launching a storybook series to get young children interested in finance with the support of a recent successful Kickstarter campaign. The successful campaign included various incentives for schools and parents alike to get involved, and is enabling the large scale printing and distribution of the complete set of Money Smart Gang books + extras like posters, postcards, activity books at significantly discounted prices.

“This will ensure that we get the books (an ideal resource for starting financial education during the early years) into the hands of as many children as possible. Our backers were extremely generous, so we will also be giving away lots of free moneysmart gang books and resources to parents, schools, charities and other educational organisations – so watch this space”, says Marianne.

To find out more visit moneysmartworld.com/.