Money guru Martin Lewis funds financial education textbook for schools

Financial wizard Martin Lewis announces new Your Money Matters education textbook will be sent to 3,400 schools across the country, to help teachers and pupils get to grips with the crucial new subject. Lewis funded the intiative himself to the tune of £325,000

by News Reporter on 8 November 2018 08:57

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Over 3,400 state schools will benefit from a new financial education awareness initiative, organised by MoneySavingExpert.com guru Martin Lewis, in partnership with Young Money, the financial education charity. Announcing the project live on ITV’s Good Morning Britain programme Lewis, one of the most respected personal finance experts in the UK, revealed he made a personal £325,000 donation to the campaign.

Each school in England will receive 100 free copies of the 150-page textbook, typically enough for 1 textbook per two pupils, as well as copies of a linked teacher’s guide. A PDF of the textbook is also available for free for anyone who wants to download it. The textbook covers key issues such as savings, debt, risk and reward and is aimed at 15-16 year olds.

“I passionately believe that financial education could have a huge impact on the future wellbeing of millions of young people. When we got financial education on the national curriculum in 2014, we celebrated thinking the job was done. We were wrong. Schools have struggled with resources and there’s been little teacher’s training. Something else was needed to make it easy for schools and teachers,” said Martin Lewis.

“I still wrestle with whether it’s right that a private individual should fund this. Yet nothing else was forthcoming, and pragmatics outweigh principles. We live in one of the world’s most competitive consumer economies, with companies spending billions on advertising, marketing and teaching their staff to sell, yet we don’t get any buyer’s training. That needs to change. We need to break the cycle of debt. The best place to teach is in the classroom – I hope this textbook will help make that easier,” he concluded.

Michael Mercieca, CEO at Young Money said, “We’re delighted to have worked with Martin Lewis on this pioneering project to produce these important educational materials which will help many students and teachers across the country. Financial education is a topic that still doesn’t always get the recognition in the education system that it deserves, despite its fundamental importance for everyday life. It’s vital to the personal wellbeing of individuals and to the country that we improve the education of young people in this area to give them the best possible chance of success in the future.”

Julian Knight MP, Chair of the APPG on Financial Education for Young People added, “I’m delighted that we now have a practical resource for the classroom to help ensure financial education is more consistent in schools and that students leave the education system adequately prepared for their financial futures. A need for classroom resource was a key factor identified in the APPG’s Report ‘Financial Education in Schools: Two Years On - Job Done?’ so the brand new textbook and teacher guide are an excellent outcome of the report.’

Nick Gibb MP, Minister for School Standards welcomed the news, saying, “Economic and financial education are an important part of a broad and balanced curriculum, and provide the essential knowledge that young people need to manage their finances and succeed in the modern world. Both the Department for Education and HM Treasury support high-quality resources for schools to help deliver this, and I would like to commend Martin Lewis and Young Money for making this new textbook available.”

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