Money guru Martin Lewis sending half a million financial education textbooks to UK schools

MoneySavingExpert.com founder teams up with charity Young Money to send 500,000 textbooks to UK schools in a national drive to improve financial education

by the commentator on 14 November 2017 09:29

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He’s the money guru who has helped millions of people save cash and improve their spending habits, but Martin Lewis has a new mission – to provide a quality financial education for the next generation of school kids.

For the MoneySavingExpert.com founder has teamed up with leading financial education charity Young Money to send over half a million textbooks to UK schools. It is understood that Lewis is personally funding the initiative to the tune of £200,000.

As part of the initiative, Young Money will be producing a dynamic new curriculum mapped textbook providing free financial education resources to all state English secondary schools in 2018 - 2019.

The textbook will include guidance on issues such as saving and spending, borrowing, good and bad debt, risks and rewards, insurance, investments and future planning around student loans, tax and National Insurance.

Announcing the launch, Martin Lewis OBE, founder and Chair of MoneySavingExpert.com said: “We campaigned hard for financial education to join the national curriculum, and succeeded in September 2014.

Yet it was a pyrrhic victory. The government put no resources in to schools or to training teachers – so while there are some beacons of excellence many schools are struggling to do it or do it well. As the state has let schools down - something had to be done. I hope this textbook and teachers guide will empower schools to provide quality, cutting edge education on the issue students will face now and in the future. We live in one of the world’s most competitive consumer economies. Firms spend billions on marketing, advertising and teaching their staff to sell. Yet consumers get no buyers training. Hopefully this will help redress that balance.”

Michael Mercieca, Chief Executive of Young Money said: “We cannot allow the next generation to sleepwalk into a major youth debt crisis and that’s why we’re taking action to provide teachers with the resources they need to prevent it. Defusing the ticking timebomb of generation debt requires in-depth education and practical support, and this textbook is designed to give teachers the tools they need to provide it.”

Julian Knight MP, Chair of the APPG on Financial Education for Young People said: “I’m delighted that all state English secondary schools will be receiving a financial education textbook.

Good quality resources are essential for financial education, a lack of resources in schools having been highlighted in the APPG on Financial Education for Young People’s most recent inquiry. This initiative will target this issue and ensure teachers can deploy this fantastic new resource when developing young people’s money management skills and confidence.”

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