News 1 May 2009
Financial Capability’s Money for LiFE project success is celebrated by Lord Mayor of London
Money for LiFE in Further Education colleges is gathering pace, with colleges holding Money Weeks and other activities to help their students with money, and last week’s event hosted by the Lord Mayor of London to celebrate the successes of the project.
The event, held at Mansion House on 21 April, was organised by the National Skills Academy for Financial Services - our partner taking forward our Money for LiFE project in England with our funding (similarly, we are funding organisations in Wales, Scotland and Northern Ireland to take the project across the UK). Financial Education is a priority for the Lord Mayor’s year in office, so it was a boost to have the project recognised in this way.
Further, and Adult, Education institutions are natural centres for educating and informing diverse groups of learners about financial matters, particularly in today’s economic climate: After leaving school, young people often have to take independent financial decisions for the first time. Older students returning to education have to juggle financial priorities to enable them to complete their courses and improve their job prospects. Students more confident about their finances may be more likely to complete courses and secure sustainable employment.
The project helps colleges take a planned approach to their students’ financial capability. Colleges already have a packed calendar of events over the next academic year to help students, including Money Weeks, guest speakers, fun activities, and workshops.
We are also working alongside the Department for Innovation, Universities and Skills and HM Treasury to embed financial capability in Further and Adult Education. This will build on the Joint Action Plan on financial capability published by FSA and government in July 2008.
Roughly four million young and adult learners a year, many from vulnerable backgrounds, study in further education.
View the Money for LiFE Guide.
For information on Money for LiFE.