Financial education plan for selected disadvantaged schools

Schools in some of the country's most disadvantaged areas will be given help to teach financial education.

The Personal Finance Education Group (Pfeg) charity will turn 20 primary schools into 'Centres of Excellence' in financial education over the next three years.

The initiative is being funded by credit reference agency Experian.

Money Saving Expert and its creator Martin Lewis have long campaigned for financial education to become part of the national curriculum in all schools (see our Financial Education page).

The Centre of Excellence initiative will create a programme for pupils, while aiming to ensure all teachers are trained to deliver lessons and activities.

The schools are currently being selected. Experian is using its data to target schools in areas with low levels of financial literacy and use of financial services.

Our campaign

It's just over a year since a Money Saving Expert e-petition signed by more than 118,000 people forced Parliament to debate putting financial education on the national curriculum.

The e-petition supported work carried out by the All-Party Parliamentary Group on Financial Education for Young People.

During the debate, Schools Minister Nick Gibb agreed to consider financial education during the still-unpublished curriculum review — expected at some point this year and due for implementation in September 2014.

Tracey Bleakley, Pfeg chief executive, says: "The work of Pfeg Centres of Excellence forms a key part of our plans to ensure every young person leaves school with the skills, knowledge and confidence to manage their personal finances."

Comment/Discuss

Discuss this MSE news story: Financial education