Money managing scheme expands

Money managing scheme expands

Funding for a financial education programme that helps primary schoolchildren to manage money and learn how to save has been expanded.

The £500,000 funding for LifeSavers, a joint Church of England and Young Enterprise financial education programme, was announced by the Treasury last week, meaning it can expand beyond the pilot scheme currently underway.

The programme uses a three-stranded approach, which includes practical, hands-on transactional learning about money through school savings clubs; values-based financial education resources and training for teachers; and offering support for parents, carers and the wider community to help children learn about money.

LifeSavers is being used in six primary schools in Bradford, Nottinghamshire and south east London but will now be rolled out to a further 120 schools.

Young Enterprise chief executive Michael Mercieca said: “I would like to thank the Treasury for this generous funding towards the LifeSavers project.

“Young Enterprise is delivering this project, working with the Archbishop’s Task Group on Responsible Credit and Saving, so this extra funding means we can reach more than 40,000 primary school children with this rewarding opportunity.”