What Money Means
What Money Means is pfeg's ambitious five-year programme to increase the quantity and quality of personal finance education in primary schools. It is designed to give younger children the best foundation for managing their money now and in the future. Our aim is to help teachers feel confident in tackling money with children of primary age.
It offers resources and support to help teachers plan and teach personal finance in fun and exciting ways that fit into existing activities and curriculum plans, at no cost to them.
Why it's needed
A pfeg online survey in 2007 revealed that more than 75% of 7-11 year olds are already saving, showing children are aware of money issues even at a very young age. There is a clear need to educate and guide children in a sustained way so that as they get older, and interaction with money becomes more complex, they are equipped to make sensible financial decisions.
Primary school children place huge trust in their teachers to answer the queries they have about money. But from our experience many primary school teachers feel that they are ill equipped to teach their pupils about money and wider financial issues. What Money Means is designed to help with this.
How it's supported
What Money Means is supported by HSBC with an investment of £3.4 million and involvement from thousands of volunteers from across the organisation. HSBC staff share their expertise and assist schools in their local communities to help children improve their understanding of personal finance, working alongside teachers in the classroom where appropriate.
How it's growing
What Money Means is the only national, non-governmental initiative of its kind.
It began in 2007 with a programme of research based in eight local authorities across England. By 2011, 36 local authorities will be part of the scheme, embedding a new way of teaching money issues at primary level and creating a bank of personal finance teaching resources and techniques that can be used by all 17,500 primary schools in England. Because it is focused on giving teachers the skills and confidence they need to teach financial capability, its legacy will last well beyond 2011.
Curriculum and community
It's important that pupils experience a planned and coherent programme of personal finance education across the primary curriculum and school activities. What Money Means enables it to be woven into literacy, drama, history, geography, citizenship and PSHE education as well as mathematics. It encourages teachers to be creative, experimental and innovative, offering a rich and engaging experience for children.
The emphasis is local - working with teachers, schools and local authorities to stretch beyond the classroom to involve families and draw upon resources in the local community.
