Secondary pupils from across the region have taken part in financial literacy education sessions this month.
In collaboration with MyBnk, Developing the Young Workforce Borders, and secondary school staff, a plan has been developed to provide all S4 pupils with financial literacy education before the end of March.
Aim
Identified as a priority through the Local Employability Partnership (DYW, Employment Services, SDS and Education), the aim is to deliver this initiative annually as an entitlement for school leavers. It also articulates with the draft core competences being considered for the national Curriculum Improvement Cycle.
Elements of financial literacy they learn about include:
- Minimum wage
- Payslips
- Tax, National insurance and Pensions
- Government spending
- Household costs
- Insurance
- Budgeting
- Bank account options, credit and debit cards
Councillor Julie Pirone, Executive Member for Education, Youth Development and Lifelong Learning
Along with our partner organisations, we are delighted to be delivering these sessions to our S4 pupils. Working out finances and budgeting will be part of all young people’s lives as they move on from school, and therefore it is a fundamentally important life skill for them to have.
MyBnk's Josh Rigby-Farrell, who delivered the sessions to young people
MyBnk is working to create a financially fluent population, aiming to give young people a basic knowledge and awareness of important financial matters that they will experience moving into their adult lives
Stacey Ballantyne, DYW Borders Coordinator said
The MyBnk sessions across the secondary schools have given young people a real-life insight into what they can expect as they enter the world of work, receive their first payslips and as they start to think about budgeting.