While we’re used to hearing about problems this may bring up for their future, it’s vital to remember that young people are more than just adults-in-waiting. Children and young people are already involved in many aspects of financial life, from student finance, apprenticeships, allowances and savings to phone bills, spending on consumer goods and even gambling.
It is also vital that children understand their rights and the responsibilities of the adults caring for them – for example, as we explore in MyCare, foster carers must meet the needs of the children they care for, including buying school uniform, paying for hobbies and providing pocket money.
Yet while money itself is generally exciting, learning about the finer details of personal finance can seem dry and dull. This is where short bursts of fun and interactive app-based learning can help.
Created in partnership with children’s charity Become, our course On the Money is designed to help secondary students learn about money management skills including budgeting, opening a bank account, borrowing (and repaying!) money, accessing benefits and more. The course is based on a series of practical interactive lessons covering the basics of financial literacy, helping students become confident with terminology and concepts such as credit scores, overdrafts and income tax.
On the Money is available as part of MyLife, a collection of PSHE, citizenship and life skills resources. You can find out more and view a preview here. You can also email email@example.com to find out more and sign up to our mailing list.