KickStart Money project aims to transform the savings behaviour of a generation
Wimbledon MP Stephen Hammond visited Wimbledon Park Primary School today (March 1) to witness how its students are taking advantage of an award winning financial education programme.
The lesson attended by Mr Hammond is part of a project which aims to transform the long term savings behaviour of a generation and tackle the financial literacy crisis in the UK. The ‘KickStart Money’ project is a coalition of 20 financial services firms, which fund financial education provision to 18,000 primary school children, delivered by the charity MyBnk.
Research by the Money Advice Service has found that behavioural attitudes to money are formed by the age of seven and early intervention is key. Only one third of parents talk to their children about money.
Mr Hammond joined the year 6 class as they tackled everything, including understanding savings, bank accounts and financial risk.
He said: “KickStart Money is a great programme working to teach financial literacy to the next generation and combat the decline in our savings culture, which contributes to household debt. It was fantastic to visit KickStart Money at Wimbledon Park Primary where this valuable life skill is taught at the age when attitudes towards money are formed.”
Jane Goodland, responsible business director of Quilter plc, and KickStart Money lead said:
“Some people may think that being good with numbers automatically equates to being good with money. While basic numeracy skills are helpful for budgeting and saving, many of our financial habits are in fact motivated by our attitudes and behaviours learned at a young age, and not by our ability to do complex maths.
“KickStart Money aims to educate children about money when those behaviours are learnt for the first time, and through visits such as today’s we’re hoping politicians will see the benefit and be encouraged to add financial education to the curriculum in primary schools.”
Year 6 teacher Miss Field said: “It was so positive to hear the children discussing financial planning, especially as I know some of them may not have been exposed to conversations about managing finances before. KickStart Money’s campaign to make financial education compulsory in primary schools is of paramount importance, particularly in the rapidly evolving economic climate we live in.”
One student said: “I really enjoy learning about money! I think we should have it as part of our everyday curriculum, it’s very important!"
March 1, 2019