My Money

My Money was a three year project funded by the Department for Education for £8.9m. pfeg was the lead partner in a consortium including the National Children’s Bureau, EdComs and the PSHE Association. My Money provided local authorities and schools with support and training to help them get personal finance into every school under their care. This support consisted of consultancy, developing Centres of Excellence, training and groundbreaking resources, all aimed at improving the quality, quantity and consistency of finance education for 4-19 year olds in England. A key element of the programme included My Money Week - the annual themed activity week which pfeg continues to run and is currently funding.

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The project
Duration: 
June 2008 to March 2011
Project brief: 
The aims of the programme were to: build capacity for those working in local authorities and in schools; provide materials, training and support for schools (needs identified by research); raise the profile of personal finance education; increase the knowledge skills and confidence of young people.
The funding
Funder brief: 
In 2008 there was a widely acknowledged gap in delivery of Personal Finance Education in UK schools. In 2009, the then Department of Children, Schools & Families sponsored the first programme specifically targeted at both Primary and Secondary schools in England.

It is clear that the My Money project had a huge and positive impact in raising the quality of personal finance education. Over 10,000 teachers were trained in the 3 year period, with exceptional evaluations. 98% of teachers trained said that it would have an influence in their work and lessons.

Eight new innovative resources were produced for teachers, ranging across different subjects and for different age groups. As well as hard copy resources we also produced on-line and interactive educational materials.

In total (including My Money Week) over 46,000 resources were ordered by teachers. This is unprecedented in terms of reach.

Over four in five teachers, across both primary and secondary schools, felt that using the My Money resources had raised pupils’ knowledge and understanding of personal finance. Furthermore, using the resources had also increased teachers’ confidence and capabilities in delivering it.

Over 30 Centres of Excellence were developed - these are local authorities, schools, or groups of schools, that demonstrated long terms plans, evidence of sustainability and embedding of personal finance in their curriculum.

My Money Week

My Money Week is now run by pfeg and an established part of some schools’ curriculum, originated through this government programme.The Week provides a nationwide focus on financial capability for young people in primary and secondary schools throughout England. We have reached over 2.5 million young people through this initiative and 99% of teachers have said that their students showed an increase in knowledge and skills.

The aim was for teachers to be able to integrate money learning into their existing work plans at the scale and pace that fitted their needs and the Week was designed to be flexible so that teachers could plan a lesson or a whole week of activities. The types of things we provided to assist them with this were:

  • My Money Week Toolkits - flexible teaching resources and lesson plans
  • A dedicated website to access all resources, further ideas and support
  • Promotional DVD, to inspire schools to get involved
  • Assembly ideas to engage pupils
  • Regional training events for teachers
  • Regional events with activities to engage both pupils and teachers
  • Whole-school challenges
  • Celebrity features and challenges
  • Ideas for how to engage parents
  • Parents guides on how to get involved
  • Case studies and ongoing news of what people were doing to take part up and down the country
  • Fortunity - an interactive online game, designed to help pupils improve their financial capability

Although government funding for this ended in March 2011, pfeg believe My Money Week to be an essential financial education initiative, and as such are currently funding My Money Week. Find out more about My Money Week.