The Financial Education Quality Mark – guidance for resource producers

 

What is the Financial Education Quality Mark?

In order for young people to become financially capable, teachers and other educators (including parents, carers and volunteers) need access to financial education resources that support high quality teaching and learning about money.

Since 2004, over 100 resources have received the Quality Mark. Currently over 50 resources have a valid Quality Mark and are listed on this website.  

The Financial Capability Strategy for the UK – launched in October 2015 – sets out the ambition for all children and young people to receive financial education that works.

The Money Advice Service is supporting the Financial Education Quality Mark as an important part of their work towards meeting that ambition. By ensuring evaluation is part of the QM process, Young Enterprise and the Money Advice Service can help others to increase their impact and add to the evidence base, as well as supporting those producing educational resources to take existing evidence into account. More widely, the Financial Education Quality Mark contributes to the Money Advice Services's' goal to support better coordination of financial education in schools, providing a source of high-quality resources for teachers – and others working with children – to use.

For more details about the Financial Education Quality, including criteria, processes and cost - click here to download the Quality Mark Guidance for Resource Providers 

What are the benefits of achieving Quality Mark Status?
 

The Quality Mark:
 

  • Represents the seal of approval from Young Enterprise, the UK’s leading independent authority on financial education. 
  • Demonstrates that your resource is both financially accurate and of the highest educational value. 
  • Provides a fantastic opportunity to increase awareness of your resource amongst a range of audiences engaged with financial education.  As the leading independent authority on financial education, Young Enterprise is the first port of call for anyone looking for resources when teaching about money

The Finance Education Quality Mark is highly regarded at a national level and is supported and endorsed by:

  • The Department for Education
  • Education Scotland
  • All Party Parliamentary Group on Financial Education for Young People

Is my resource eligible for the Quality Mark?

Young Enterprise assesses financial education resources that have been designed to be delivered to young people by teachers and other professional educators, volunteers, parents and carers. We also assess some resources designed for use by young people directly, usually where these also include mediated learning opportunities.

We assess resources presented across a range of formats including, downloadable paper resources, hard copy materials, board games, digital games, websites, apps, videos and multimedia resources.

We award the Financial Education Quality Mark to financial education resources that:

  1. Have been developed in consultation with a teacher or educationalist and tested with young people in the target group
  2. Have a dedicated theory of change and evaluation plan
  3. Have a principal focus on financial education
  4. Include opportunities for structured learning
  5. Be engaging and relevant for young people
  6. Be clearly written and easy to use
  7. Contain accurate, up to date information and be free of branding

A resource must fulfill these seven criteria in order to support high quality teaching and learning in financial education and to be eligible to receive the Financial Education Quality Mark

How do I put a resource through the Quality Mark?
 

  1. Free Consultancy Phase: When a resource producer contacts us about Quality Marking a resource, if the resource is fully formed Young Enterprise will request a copy or access to the resource to provide an initial review.  If the resource is in development Young Enterprise will discuss the resource producer's plans. Then if the resource matches the requirements of the Financial Education Quality Mark and the resource producer would like to proceed payment of the fee will be required.
  2. Charged Consultancy Phase: The resource provider works with Young Enterprise and the Money Advice Service to develop an evaluation plan and Theory of Change. *
  3. Assessment Phase: The resource is sent to three independent assessors (one financial and two educational) who will review it against the six essential criteria within 2-4 weeks.

Cost
The entire cost is currently £1500 plus VAT for commercial organisations. Discounts of up to 50% are available for charitable organisations and may be available for other organisations in special circumstances.

We are currently trialling a Quality Mark bursary, which covers the cost of application. Further details regarding the criteria and application process can be found here.

* Support from MAS on evaluation is provided free of charge and has been built in to the process.

To find out more about making an application for the Quality Mark, download our Quality Mark Guidance for Resource Producers .

How is the Quality Mark funded?

The Quality Mark is funded by the Money Advice Service.  This new funding relationship follows 12 years of valued support from Prudential UK, who funded the the Quality Mark from its establishment in 2004 to summer 2016. 

Get in Touch

Young Enterprise is always looking for fantastic new financial education resources. To find out more about the Quality Mark or discuss the suitability of your resource, please contact Braden Clamp on braden.clamp@y-e.org.uk or 020 7330 9473. 

Visit the Resources section to explore all of the current Quality Mark resources, or find out more about using Quality Mark resources.