mark fiander director of strategy and innovation financial education in the uk: before, during and...
TRANSCRIPT
Mark FianderDirector of Strategy and Innovation
Financial education in the UK: before, during and after school
About the Money Advice Service
• To enhance the understanding and knowledge of members of the public of financial matters;
• To enhance the ability of members of the public to manage their own financial affairs.
• Coordinate the provision of debt advice
Set up by UK parliament to
Our services to the public
What influences financial behaviour?
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New school curriculum in England
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Through mathematics, pupils should be taught to…
…develop their use of formal mathematical knowledge to solve and devise problems within and outside mathematics, including financial mathematics
Through citizenship, ensure that all pupils…
…are equipped with the financial skills to enable them to manage their money on a day-to-day basis as well as to plan for their future financial needs.
Financial behaviour is learnt early
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Children learn most through observation and experience
By the age of 7 most children have…
• Learnt to recognise money, where it comes from and where it goes
• Developed ‘executive functions’ – eg planning ahead, delayed gratification, irreversible decisions
Mainly from their parents
Our young people strategy
• Resources for parents and practitioners
• Especially for early years
• 16-18-year-olds (transition age)
• Peer led
• Insight and evaluation
• Do more of what works
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