Evaluating our work

Many of our major projects are externally evaluated and we encourage and supports schools to assess classroom learning. As the leading organisation working with schools to embed personal finance education, we know that we support a large number of teachers to enable children and young people to become financially capable now and in the future.

 

The reach of our work so far

  • We have worked with all 150 local authorities in England to support them in developing personal finance education in the schools in their area, and are expanding our reach in Scotland, Wales and Northern Ireland.
  • We have trained more than 20,000 school teachers through events, programmes and transformational consultancy support.
  • More than 120,000 resources to help teach financial education have been ordered since 2005.
  • 4,261 secondary schools have sought face-to-face help (as at March 2011) engaging over 1.8 million students in personal finance education activities.
  • We have established 42 Centres of Excellence in financial education.
  • Between 2012 and 2013 we worked in 18 higher education institutions with 130 course convenors/tutors, 3,098 trainee teachers and 1,488 partner schools, benefitting more than 22,300 pupils in partner schools and creating  3,098 trainee teachers confident in delivering financial education that will benefit hundreds of thousands of pupils in the future.
     

Evidence from project evaluation reports

My Money Week 2013

• We reached more than 1.3 million young people in all four countries of the UK through My Money Week activities in 2013 (including 26,387 disadvantaged young people)
• 2,804 primary schools and 1,766 secondary schools ordered the My Money Week activity pack to take part in the week in 2013
• A total of 4,852 children from 130 schools entered the My Money Week National competition, the ‘A-Z of Money’, in 2013
• 85% of teachers surveyed said children showed an increase in skills and knowledge
• 82% of teachers surveyed said children were motivated to learn more about money

Read more about My Money Week and watch films of work done in My Money Week.

Secondary Schools  - Learning Money Matters - Key findings from the NfER evaluation report on the Learning Money Matters (LMM) programme for secondary schools in England (September 2009):

  • The research underlines the ongoing need in schools for the support provided by pfeg through LMM. Delivery of personal finance education remains variable across schools, with many schools not yet delivering lessons to students in all year groups in an effective way. Furthermore, 3,690 schools and colleges – that is over 53 per cent of all providers – had not yet been involved in LMM by the end of June 2009.
  • The majority of teachers are very satisfied with the support provided by pfeg consultants. They particularly value consultants’ knowledge of financial topics, resources and curriculum requirements, their professionalism and their flexibility in responding to the needs of the school and students.
  • Involvement in LMM often acts as a catalyst to encourage teachers to initiate or expand the teaching of personal finance education in their schools. However, this encouragement needs to be supported within schools by senior management buy-in, sufficient curriculum time and enthusiastic and motivated teaching staff in order to ensure the successful and sustained delivery of PFE.
  • The main barriers to the successful delivery of PFE in schools include other competing curriculum demands, lack of time to prepare and coordinate delivery, and difficulties in finding staff that are interested, confident and enthusiastic about teaching personal finance education.
  • PFE lessons have a noticeable impact on students’ attitudes towards saving and borrowing, their confidence in dealing with money and their views on being taught about finance at school. The study also identified an impact on students’ knowledge of finance and financial products in some schools.

Download the full Learning Money Matters evaluation report or read more about the project.

Primary Schools  - What Money Means
Established in 2007, this five year partnership with HSBC was a groundbreaking project. The objective was to help as many primary age children as possible to learn about money by working intensively with a large amount of teachers to provide high-quality training and resources. This has been achieved through:

  • working in partnership with 648 teachers and 34 local authority teams across England to integrate finance education into the curriculum, benefitting an estimated 23,000 pupils
  • supporting 695 trainee teachers in two large teacher training institutions – Edge Hill University in Lancashire and Shropshire and Roehampton University in London
  • developing around 50 lead teachers who can train other teachers in their own and neighbouring schools, and across local authority boundaries
  • helping children connect what they learn in the classroom with life outside school by training 1110 HSBC volunteers and facilitating effective partnerships with teachers
  • spreading good practice throughout the teaching community with a series of publications and resources requested by in excess of 4665 schools across the country

An extract from the evaluation report states that:

  • All participating local authorities have increased the number of confident and competent teachers in developing financial capability programmes of learning
  • This has been achieved most successfully when there has been high quality commitment and effective investment of time from local authority representatives
  • There is evidence that the quantity and quality of financial education in primary schools has increased through participation in the What Money Means programme
  • There is evidence of a change in the confidence of teaching staff in their knowledge, skills and understanding of how to deliver personal finance education
  • There is evidence of increased understanding by a greater number of teaching staff of the way that certain techniques can be used to explore pupils’ perceptions of money and link in well with other parts of the curriculum
  • Teachers have also benefited from a variety of opportunities to expand their teaching styles and think creatively.

Our What Money Means partnership with HSBC won a Charity Times Award in 2012 for ‘Best partnership with a financial institution'. Download the independent evaluation report, or read more about the project.