What will the textbook cover?
Your Money Matters is aimed at supporting the financial capability of those aged 15 to 16, but the reality is that it’s been used across multiple year groups and within a wide range of subject areas. It covers savings, interest, money, mental health, budgeting, debt, APR, student finance, apprenticeships, earnings, tax, pensions, gambling, investments, identity theft, fraud and much more.
Since being delivered into every state-funded secondary school in England, 89% of teachers said that Your Money Matters would improve the quality of financial education in their schools. Additionally, 88% of teachers said the textbook would increase their confidence to deliver financial education.
The educational textbook contains facts and information as well as interactive activities and questions for students to apply their knowledge. The chapters are as follows:
1. Savings – ways to save, interest, money and mental health
2. Making the most of your money – budgeting, keeping track of your budget, ways to pay, value for money, spending
3. Borrowing – debt, APR, borrowing products, unmanageable debt
4. After school, the world of work – student finance, apprenticeships, earnings, tax, pensions, benefits
5. Risk and reward – investments, gambling, insurance
6. Security and fraud – identify theft, online fraud, money mules
While the key financial topics will remain largely the same, a review in each nation, consisting of focus groups with teachers and devolved government representatives for education, is being conducted to identify the amendments required. This will ensure that the textbook in each nation maps to the respective education curriculum as well as taking into account the specific needs and financial legislation in each country.
Once complete, up to 75 copies will be delivered for free to every secondary school in each nation. 12,000 copies will be rolled out to Northern Ireland by January 2021, 21,500 will be rolled out to schools in Scotland by March 2021, and 12,500 will be issued to Welsh schools by September 2021.