Research finds 97% of teachers stress the importance of financial education

In line with the recent Talk Money Week (8-12 Nov), a teacher-driven research study from EVERFI, a leading education company committed to closing the education gaps that lead to long-term inequality, in partnership with popular app Teacher Tapp, has discovered that a resounding 97% of teachers feel that it’s important to teach financial education to students in the classroom.

The modern world requires a host of key skills, including money management, in order to succeed and providing students with the knowledge and skills to effectively manage their money is important. EVERFI and Teacher Tapp’s research also highlights that 83% of teachers feel that it is their role to upskill their class as they transition into adulthood, in order to help bridge a gap that sees one in five adults having less than £100 in savings or investments – a historically low level for the UK.

However, although teachers understand the need to educate students on financial matters, only 54% say they have enough time to plan and deliver these lessons, meaning students could be missing out on developing key skills and understanding in their formative years. The EVERFI and Teacher Tapp research also reveals that 37% of teachers say that financial education isn’t a current focus at their school.

Laura McInerney, Co-Founder & CEO, Education Intelligence, who worked with EVERFI on the findings said “As a former PSHE teacher I was unsurprised to see so many people saying that financial education was important. Most adults wish they’d learned more about it at school and knowing more about finance is a way of boosting pupil’s real-world confidence”.

EVERFI brings together national and regional partners so students can access high-quality learning resources, at no cost to schools. The platform offers self-paced online lessons with built-in assessments free to schools with unlimited student licenses and ongoing support. EVERFI has been included in the Department for Education backed,  official guidance from Money and Pensions Service available for teachers here.

On the EVERFI platform teachers will find interactive programmes and classroom activities, to make it easy to deliver financial literacy education to their students that are accredited by Young Enterprise. Available on EVERFI’s own platform the ready to go resources are split into three age-specific courses; Vault, Thrive and Aspire.

Each course helps primary and secondary school students make smarter decisions; (include specific links to site pages)

  • Vault builds a financial foundation for nine to 9-11 year olds, teaching them how to borrow money responsibly, the basics of budgeting and the difference between stocks and shares.
  • Thrive helps students 11-16 years old plan for their financial goals by teaching key financial skills through relatable connections to everyday life and socio-emotional learning skills e.g. self-awareness, prioritising, self-control.
  • Aspire helps students aged 14-18 year olds prepare for their financial future by teaching about the economy holistically through different perspectives: as a consumer, an employee and an entrepreneur or employer, and understand its relevance to their lives.

Speaking about the ease of using Vault, Melanee Rose, Head of Maths at King’s House School Richmond said: “Managing money and learning how to save are vital skills to learn at a young age. The built-in lessons in Vault made the course very accessible to me as a teacher and I’m excited to teach pupils about the value of money.”

All EVERFI courses help create a more equal society by providing pupils with critical skills that prepare them for a brighter, happier, safer and more resilient future. The EVERFI platform helps teachers plan interactive lessons on financial education to help students make informed and smart decisions in the future.

Martin Finn, EVP Global Operations at EVERFI spoke about the idea behind the launch of the campaign: “At EVERFI, we are here to support teachers with high quality courses and planning tools. With our Vault, Thrive & Aspire courses, we use real-life scenarios and interactive games to show learners how to make smart financial decisions, ensuring all students have the critical financial skills they need for the future.”

Schools can register to access EVERFI’s  free platform and get access to the financial education courses – and many others – here: https://uk.everfi.com/our-platform/

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