Teaching financial education.
Our financial education programme is designed to teach young people about getting money, spending money and saving money. This programme has been sponsored by Mark Gregory, chief financial officer.
We’ve been involved in educating young people about finances and financial decisions since early 2007. As a FTSE 100 financial services organisation, we feel we are well placed to understand the financial requirements that people face during their lives and the decisions that they may have to make.
The programme is called Everyday Money – a title that fits in with the L&G culture, brand of Everyday Matters. It comprises of a one day event which is broken down into some key components:
An opening piece to the event covering the basic aims and structure of the workshop, brand recognition, an experiential game around career choice and the link to salaries and the qualifications versus hard work/application/attitude discussion
- Everyday Money – Get It!
A section on how you get money from your job choice (salaries), who/why is some money taken from you and what is it spent on and where will you put your money when you get it? A mix of facilitator and table coach led instruction and discussion with actual salaries being paid in L&G pounds and tax and NI physically deducted (the “Monopoly” approach).
- Everyday Money – Spend It!
How will you spend your money – the essentials that you have to spend money on and the informed choices you might make when buying food, household items and luxuries which you may want to purchase. How much the essential costs (rent, water,gas etc). It will also cover borrowing (is it good or bad?) and what happens if you get into financial trouble.
- Everyday Money – Save It!
We talk about lifestyle events – university, holidays, weddings, children, health etc. We then play a game of money moves (based on snakes and ladders). This is a game where the children answer questions of things they have learnt through the day.
- This is not a maths lesson!
Previous events have focused heavily on maths, budgeting skills etc. and this can really “turn off” some of the less academic young people and lead to disengagement and disruption. The day will cover some basic aspects of maths, but this will focus on real life choices (e.g. doing their food and basic household goods shopping, checking their payslips etc.)
- It’s about making “informed choices”
The whole purpose of this event is to give information to young people to allow them to make informed choices. It will explore what knowledge they currently have of money and everyday finances, where they get this information from (e.g. parents, teachers, advertising etc.) and will then, by using experiential learning, see how they can make informed choices when they have the correct information.
- How it’s delivered
It will be far less reliant upon the delivery of a central facilitator and slide deck. Instead this programme will use a wide variety of different approaches to help the learning stick – a combination of up front delivery, table lead discussion, games and activities that the young people themselves take part in and drive.
Music is usually played throughout the event to engage the young people and give them the feeling of something very different from a normal classroom based lesson. A number of video clips have also been included to give a different focus using a medium that is familiar and accessible to this audience and keep their attention. There will be a much heavier focus on discussion and opinion from the young people themselves, led by an L&G volunteer employee (Table Coach).
- How it’s embedded
Teachers are encouraged after the event to use the material in class discussions or with other year groups at different stages of learning.
If your school is interested in delivering this programme please contact firstname.lastname@example.org
School Governors Programme
We encourage employees to become a school governor in their communities. Each year we offer the school the chance to apply for a £500 grant, for a specific maths programme. Our aim is to improve maths within schools to enable children to at least reach the national average.
To help employees find placements, we work together with various local schools and charities.
There are around 300,000 governor places in approximately 21,400 schools throughout England and at any one time, more than 40,000 of these places are vacant.
Business Class with BITC
In London and Cardiff we are part of BITC business class. Business class is distinguished from other school/business partnerships by its unique cluster mechanism.
The school and business partners in a particular locality are grouped together into a cluster, enabling them to meet on a termly basis to share best practice, identify common challenges and accelerate improvement. Our current school partners are Arts & Media School in Islington and Pen Y Dre High School, Merthyr Tydfil.