Brighton-based financial services company Family Investments teamed up with learning specialists Magnified Learning, to deliver the programme called ‘Money Money Money’. A qualified financial tutor facilitated each group, assisted by employees from Family Investments who supported the youngsters with any tricky financial calculations.
Over 300 thirteen and fourteen year olds were involved in the event at the secondary school in Hove. The pupils were asked to calculate how much they would need to earn to survive in the real world, taking into account paying a mortgage or rent, as well as household bills. They also had to imagine how they would tackle real-life situations, such as coping with the cost of being burgled and the reality of taking out a loan.
Holly Hunter, a customer-services representative at Family Investments, gave her support on the day, she said, “Money, Money Money is a brilliant event for both the children and employees like me. It was so rewarding to see the pupils grow more confident as the day went on, and I was really impressed at how they got to grips with some fairly difficult financial situations. Personally, I got a lot out of using my skills and knowledge to teach the younger generation about such a vital subject.”
Phoebe, one of the pupils who took part said, “The day taught us how to manage our money on any level of income, and gave real examples which showed us the difficulties of handling money. We also learnt how one choice in life can affect us massively in the long term. We really enjoyed the day and think it will definitely help us in the future.”
Keith McCormick, an Assistant Headteacher at the school said, “This was a fantastic day for everyone involved. It shows what good collaborations between schools and business can achieve when working together. The planning and delivery of the material by Family Investments and Magnified Learning was first class, and matched by the great work-ethic and interest of our Year Nine students and staff.”
“Children need to become pretty savvy about money at a young age nowadays.”
Faye Russell, Community Manager at Family Investments said, “Family Investments is a leading provider of savings and investments products the Child Trust Fund and the Junior ISA. Both these products provide children with a lump sum of money when they reach 18 years old, so we understand how important it is for children to be prepared for financial responsibilities. Children need to become pretty savvy about money at a young age nowadays. Once school is over they might need to think about going to university, renting or buying a home, and how they’re going to pay the bills – as well as all the fun things like travelling and buying a car. So financially, the transition from being a child to an adult is tough and we believe children need to be taught financial life skills alongside their academic studies.”