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Tim backs financial education in local schools

May 20, 2014 4:33 PM

Tim in WestminsterTim Farron, MP for Westmorland and Lonsdale, is encouraging local schools to put on money lessons this June, to give their pupils a head-start in financial education before it becomes a compulsory part of the new National Curriculum in September. The move comes in advance of this year's My Money Week (9 to 15 June), run by national financial education charity pfeg (Personal Finance Education Group).

Every primary and secondary school in Westmorland and Lonsdale is being given the chance to take part in My Money Week, which aims to help young people learn more about money and personal finance, for free. This year My Money Week will be themed around current affairs, challenging young people to improve their financial skills, knowledge and confidence through topical lessons and activities on personal finance. As the UK's leading financial education charity, pfeg is offering teachers in Westmorland and Lonsdale free online resources, advice and training to help plan their activities.

Tim Farron MP, who as a member of the All Party Parliamentary Group (APPG) on Financial Education for Young People has long championed the cause in Westminster, said: "I would encourage all our local schools to get involved with this fantastic initiative. Young people have a lot of important decisions to make regarding their finances. Making sure they are financially literate from the beginning of their education will allow them to make informed decisions and will stop them getting into financial difficulty."

Tracey Bleakley, chief executive of pfeg (Personal Finance Education Group), said: "Tim Farron MP is absolutely right to call for all local schools to take part in My Money Week, which is a terrific opportunity to help pupils learn more about money in a fun and engaging way. We are delighted to have his support for what we hope will be Westmorland and Lonsdale's best My Money Week yet."

Financial education will become a compulsory part of the National Curriculum for the first time this September, after years of campaigning by MPs and Peers in the APPG on Financial Education for Young People, pfeg and MoneySavingExpert.com's Martin Lewis. The move only affects secondary schools still under local authority control, however pfeg initiatives such as My Money Week are designed to get all schools involved in financial education, including all primary schools, Academies and Free Schools.

Since the first My Money Week in 2009, millions of young people have been helped to understand more about money and personal finance through focused activities in schools. In 2013 My Money Week reached approximately 1.3 million young people in more than 4,500 schools and other settings across the UK.

Schools and other organisations that work with young people in Westmorland and Lonsdale can find out more about My Money Week at www.pfeg.org/mymoneyweek