The Commentator reports that the MoneySavingExpert.com founder has teamed up with leading financial education charity Young Money to send over half a million textbooks to UK schools. It is understood that Lewis is personally funding the initiative to the tune of £200,000.
As part of the initiative, Young Money will be producing a dynamic new curriculum mapped textbook providing free financial education resources to all state English secondary schools in 2018 – 2019.
The textbook will include guidance on issues such as saving and spending, borrowing, good and bad debt, risks and rewards, insurance, investments and future planning around student loans, tax and National Insurance.
Announcing the launch, Martin Lewis OBE, founder and Chair of MoneySavingExpert.com said: “We campaigned hard for financial education to join the national curriculum, and succeeded in September 2014.
Yet it was a pyrrhic victory. The government put no resources in to schools or to training teachers – so while there are some beacons of excellence many schools are struggling to do it or do it well. As the state has let schools down – something had to be done. I hope this textbook and teachers guide will empower schools to provide quality, cutting edge education on the issue students will face now and in the future. We live in one of the world’s most competitive consumer economies. Firms spend billions on marketing, advertising and teaching their staff to sell. Yet consumers get no buyers training. Hopefully this will help redress that balance.”
Julian Knight MP, Chair of the APPG on Financial Education for Young People said: “I’m delighted that all state English secondary schools will be receiving a financial education textbook.
Good quality resources are essential for financial education, a lack of resources in schools having been highlighted in the APPG on Financial Education for Young People’s most recent inquiry. This initiative will target this issue and ensure teachers can deploy this fantastic new resource when developing young people’s money management skills and confidence.”
Please tell us your thoughts in comments or via Twitter ~ Tamsin
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