Robert Halfon, MP for Harlow, visited Kingsmoor Academy in Harlow today to witness how its pupils are taking advantage of an award-winning financial education programme – the Kickstart Money project, delivered by 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, and there is a significant lack of financial education provision in schools for children in the UK.
In a Year 4 lesson, Robert joined 8-9 year-olds to tackle a range of financial subjects, including understanding the value of money, needs vs. wants, saving and budgeting. The lesson is part of the Kickstart Money project which aims to transform the long-term savings behaviour of a generation and tackle the financial literacy crisis in the UK. The project is funded by a coalition of 20 financial services firms and its lessons to 18,000 primary school children are delivered through the charity MyBnk.
Robert said: “I’ve had a great time learning about money management with students at Kingsmoor Academy. KickStart Money is a brilliant initiative that teaches pupils a vital, lifelong skills in financial literacy.
“It is important to teach financial education to children as this will equip our pupils with a skill that will allow them to climb the educational ladder of opportunity.”
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.”
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