Leaders from the bank spent time with 71 teenage students to help them learn more about money.
The NatWest London Regional Board spent time with with Year 10 students of Westminster Academy.
NatWest’s London Regional Board recently delivered three ‘Mobile Plan’ MoneySense sessions for Year 10 students. During the sessions, students of Westminster Academy researched a variety of mobile phone plans for a character of their choice and then presented to the rest of the class a fully costed, value for money, mobile phone plan, including suggestions about the best way to save and pay for the cost of the plan. The ‘Mobile Plan’ MoneySense session is designed specifically for 12-16 year olds.
Dr Saima Rana, Westminster Academy Principal, said: “We feel strongly about providing experiences which extend learning beyond the curriculum. MoneySense has been an excellent opportunity to equip students with practical skills for their future lives, so I have been thrilled to see students engage so positively with these sessions.”
According to research by MoneySense, over half (55%) of young people aged 7-15 worry about their lack of financial knowledge. In addition, nearly two thirds of parents (62 per cent) also worry their child will grow up without a good grasp of managing money.
Westminster Academy student Alysha Rajabali said: “Taking part in a MoneySense workshop at school has been a good opportunity to start thinking about where and how we spend our money; life lessons which will set us up for the future.”
Phil Northey, Chair of NatWest’s London Regional Board, said: “Teaching young people about money is one of the most important things you can do to equip them for success in adult life. MoneySense does just that. By using young people’s real life experiences, like getting their first mobile phone contract, key ‘money moments’ are taught in an engaging way and in turn, helps make learning how to budget and manage money real and relevant.”
NatWest has been running MoneySense, an impartial financial education programme for 5–18 year-olds, for more than 22 years. The programme uses key money moments in a young person’s life – starting to save their pocket money, opening a bank account, or getting their first mobile phone – to make learning about money feel relatable. The free, online content aims to boosts parents’ and teachers’ confidence and provide a platform for young people to learn life skills that will create a foundation to ensure financial capability throughout adulthood.
For more information visit the MoneySense website.