About Money for Life
Money for Life is for anyone interested in financial capability training for FE institutions or community groups.
Research taken from a Populus poll of 500 further education practitioners in the UK showed that it is tougher than ever for learners in further education to manage their finances. A third of those polled say that learners are having problems balancing course commitments with outside work and more than a quarter say that learners are dropping out of courses due to money worries. Many tutors and advisors are not confident they have enough knowledge to advise on money management matters, and half say they don’t have enough resources or support to do so.
There are more than 3 million full and part-time FE learners in the UK, and the sector reaches learners of all ages in some of the most disadvantaged groups in society. Yet most financial capability support from the private sector is targeted at schools and universities – the FE sector hasn’t benefitted from money education projects to the same extent.
Money for Life aims to deliver vital financial capability learning where it is needed most. It equips practitioners across the UK with tailored resources to improve their confidence and knowledge of financial capability and enable them to pass on that knowledge to FE learners.
Through this programme we’re seeking to:
- embed personal money management skills and financial capability in further education and community groups, and by doing so, leave a sustainable impact on the sector
- raise awareness of the importance of money management skills; benefitting both practitioners and learners
- address barriers to financial capability for a range of learner groups
- train Lloyds Banking Group employees in order that they can support financial education in their local communities
Working in partnership
Lloyds TSB, Halifax and Bank of Scotland are working together with skills organisations in the four nations of the UK, to promote and support financial capability training. Those organisations are:
- National Skills Academy for Financial Services and Toynbee Hall (England)
- Scotland’s Colleges
- CollegesWales and National Training Federation Wales
- Educational Guidance Service for Adults (Northern Ireland)
See our useful links page to visit these organisations’ websites.
Focus groups
Money for Life has worked to identify and address barriers to financial capability learning via a series of focus groups across the UK, bringing together experts to examine the financial capability needs of distinct learner groups.
These groups have developed tailored financial capability resources which will be shared across all four nations.
Click here for more information about these focus groups.
Contact us if you are interested in finding out more.
