Scotland's first Financial Education Week runs from the 20-24 March, organised by Education Scotland and the Money Advice Service, in partnership with the Scottish Financial Capability Partnership.
Aimed at organisations and policy-makers, Financial Education Week aims to raise awareness about the importance of financial education and the organisations involved in making a difference. Over the course of the week, numerous organisations will be spreading the word about financial education, with events in support of the week due to take place across Scotland.
Financial Education Week highlights the importance of providing robust financial education to children and young people across Scotland. A recent survey by the Money Advice Service showed that 31% of 16-17 year olds across Scotland do not have a current account and, of those that do, a quarter (26%) have no experience of putting money into it. Furthermore, 55% are unable to read a pay slip. Engaging young people in managing their money from a young age is a vital step towards giving them the skills and confidence needed to cope financially in later life.
During the week, the Money Advice Outcomes project will be publishing a case study about young people’s views of money advice services in Glasgow, and how these opinions have influenced the policies of Glasgow City Council. Recently, the project team also released an elected member briefing note outlining the importance of financial capability in Scotland and encouraging councillor engagement on the issue. Previous publications relating to the theme of financial education include case studies about West Lothian’s Money Week and North Lanarkshire’s Money and Consumer Advice project, which is specifically aimed at young people in the area. The project team will also be attending and supporting a number of the events planned throughout the week.
More information on Financial Education Week, including the scheduled events, is available at www.fincap.org.uk/document/WMkKhy4AAPUPFAst/scottish-financial-education-week.