Students to get personal money management training

Financial education charity The National Skills Academy for Financial Services (NSAFS) is visiting further education college enrolment and freshers’ events in September to help students understand and manage their money, as part of activities building up to ‘Money Week’ 2010.

NSAFS’ regional directors will visit selected colleges to encourage students to make a ‘Money Pledge’, a commitment to manage their money better and to provide information to help assist them with areas of financial concern.

Students will complete a Money Pledge Postcard where they will identify from six financial areas which are of most concern to them: bank accounts; savings; mobile phones; loans and mortgages; university fees or debit, credit and store cards.

Participant colleges will also use this information to steer financial management training courses, which will be included in tutorial sessions during the academic year. The activities will culminate in Money Week in March 2010, which is a dedicated week of fun activities to engage learners in money management.

NSAFS’ financial capability projects in further education colleges in England are funded by the Financial Services Authority’s Money for LiFE project. Last year up to 15,000 learners benefited from money management training undertaken by NSAFS in three pilot regions. This academic year’s target for Money Week events is to reach 30,000 learners in 75 colleges.

Sylvia Perrins, Chief Executive of NSAFS, said: “The current economic environment has highlighted the importance of ensuring our nation is more ‘money-minded’. Colleges have an important role in shaping the future. Providing their students with an opportunity to become more financially astute is fundamental to our individual and national prospects.”

The Money for LiFE project recognises the need for proper financial education and the growing importance of ensuring our future generations are financially capable.

The National Skills Academy for Financial Services offers national centres of excellence in education, skills training and development, working in partnership with employers to develop a workforce with the knowledge and skills they need to help service their customers’ financial needs.

Since launch in May 2007, NSAFS network has grown from four to over 20 providers that are now located in seven regions. For more information, visit: www.nsafs.co.uk