Lifesavers - financial education and savings clubs
The Archbishop of Canterbury’s Task Group is working in partnership with pfeg, the Personal Finance Education Group (part of Young Enterprise) to deliver LifeSavers, a national financial education programme for primary schools. Could you register a primary school you are involved with?
At the centre of LifeSavers is a school-based savings clubs, run in partnership with the local credit union, where children will be encouraged to save small, regular amounts of money. This is combined with values-based financial education resources and training for teachers, along with a holistic approach involving parents, carers and the whole community in children’s financial education.
"How we think about and use our money is central to a fulfilled and contented life. That is why I strongly support this exciting initiative to encourage children to develop positive attitudes towards money and the habit of saving. This programme has the potential to make a significant difference to the lives of millions of children and future adults." Justin Welby
LifeSavers is currently being piloted in six schools across three areas of Bradford, Nottinghamshire and South East London, and started in September 2015. So far they’ve supported 75 teaching staff in delivering whole-school, values based financial education to all year groups. The programme has impacted over a thousand students in some way, and on average 1 in 3 pupils offered the savings club has taken up the chance to save.
They are working in partnership with four local credit unions who are providing the banking services. Local churches are supporting the delivery of LifeSavers, through providing volunteers to help run the savings clubs and delivering the LifeSavers ‘Acts of Worship’ in schools focusing on four core Christian values: generosity, wisdom, thankfulness and justice.
They have secured funding for a wider rollout to up to 150 primary schools in six areas. They will also be offering support to schools outside the rollout areas through a dedicated website and free financial education consultancy.
"We're launching LifeSavers in St John's with an exciting'Money Week' that the whole school will participate in. I can see how LifeSavers could have a big impact on the children at St John's." Fi Belton, teacher at St John the Baptist Church of England Primary School in Colwick, Nottingham.
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Geoff Knott, 26/04/2016