MP backs campaign to get pupils learning about money

Steve Barclay MP.
Steve Barclay MP.
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Steve Barclay, MP for North East Cambridgeshire, has called on local schools to get their pupils talking and learning about money, as part of a new charity campaign to help improve financial capability amongst young people.

Every primary and secondary school in North East Cambridgeshire has been sent free Get Money Smart posters (see attached) and teaching materials by national charity pfeg (Personal Finance Education Group), which aims to get children talking about money in the classroom.

The charity’s Get Money Smart posters – for children aged up to seven, 11, 14 and 16 – are designed to encourage classroom discussions about things children can do to learn more about money and personal finance. Ideas for different ages include checking your change, estimating the cost of a weekly shop, comparing mobile phone tariffs and planning and budgeting for a trip.

Mr Barclay said: “It is vitally important that young people have the opportunity to learn about managing their finances and budgeting from the word go. Learning financial responsibility and how to spend pocket money wisely is a key part of preparing young people for adult life and it is great news that these life skills are being brought into the classroom.

“I hope that schools will take this chance to improve Children’s understanding of money management in a fun and engaging way.”

Mr Barclay has thrown his weight behind the effort as a way of helping young people in North East Cambridgeshire gain the vital skills and knowledge they will need to manage their personal finances.

The move follows news that after a long-running campaign led by the by the All Party Parliamentary Group on Financial Education for Young People, pfeg and MoneySavingExpert.com’s Martin Lewis, financial education will be taught in secondary schools as part of the National Curriculum from September 2014.

Tracey Bleakley, chief executive of pfeg said: “We are thrilled to have Steve’s support for this free new scheme for primary and secondary schools in North East Cambridgeshire. I hope all local schools will seize the opportunity to use their Get Money Smart posters to bring money to life in the classroom. This is a crucial topic that every young person should learn. Getting pupils talking about money and the financial decisions they will face in the future is a great way to start.”