Pupils taught money management skills

Pupils put their money management skills to the test

Pupils across the borough are learning how to become experts in money management.

Youngsters are receiving a lesson in; budget management, banking and affordable credit, illegal money lending and issues such as identity fraud and phishing scams as part of a financial education programme developed by Rochdale Borough Council’s trading standards team in partnership with Barclays.

Year 10 and 11 students at Falinge Park High School and Performance Arts College were the latest to receive the Barclays Money Skills training as part of their Personal Health and Social Education (PHSE) classes. The training is designed to help youngsters to find out how to budget their way through life and learn money management skills to help them navigate today’s complex financial market.

Since May 2010 Rochdale’s Trading Standards have delivered training to over 120 pupils including Redwood Special School and Hopwood Hall College.

Andy Glover, Rochdale’s Chief Trading Standards Officer, explained: “Developing the confidence, skills, knowledge and understanding to make the best use of financial products and services is essential to equip young people in being able to take responsibility for their finances. By educating our younger members of the community and creating better financial awareness, we encourage a market where consumers are able to make informed decisions about their current situation and their future plans.”

Dale Mulgrew, cabinet member responsible for community safety at Rochdale Borough Council, added: “Nowadays young people can access credit more easily, and equally, get into financial difficulties more quickly. It’s vital that we provide them with the necessary skills to enable them to manage their money and I’m confident that this training will stand pupils in good stead for the future.”

Mr Lonsdale, Headteacher at Falinge Park High School and Performing Arts College, said: “Barclays Money Skills has come at a time when the government has recognised that financial literacy should be taught in schools, it will become part of the new PHSE curriculum. At Falinge Park High School we are very keen that all our students are taught financial literacy skills, in order to manage their money sensibly and to engage with the financial sector with confidence.”

Rachel Herbinson, Barclays’ Community Investment Manager for the North West Region, said: “It doesn’t matter what stage of life we’re at, we all need to be in control of our finances, and helping young people get a grip of theirs is about preparing them for now and the future. At Barclays we take our contribution to the community seriously, and our staff are always keen to get involved in initiatives such as this to get them out and about meeting young people.”