ICAEW on Personal Finance
ICAEW works to help people develop their ability and confidence to make informed decisions about their personal finances. What people don’t know about money can really affect their entire lives. The ability to obtain, budget, save and spend money is an important life skill for young people to learn – whether they are planning to go to college, university, starting their career or a new business.
Volunteering in schools
ICAEW Chartered Accountants and ACA students are continuing to work closely with schools and community groups to engage and deliver financial education sessions to young people. We also work in partnership with Young Enterprise to offer ICAEW volunteers opportunities to support dedicated personal finance activity as part of wider day programmes.
ICAEW launched 13 lesson plans available for volunteers and personal finance tools for students and teachers which includes guidance on a range of personal finance topics from managing debt to funding a university course. These flexible discussion based plans can be adapted to suit the learning requirements of the students. There are four resource packs which support the planning, teaching, and progression of financial education by setting out the key areas of financial knowledge, skills and attitudes.
Developing Financial Capability through MathematicsICAEW has developed new materials that will support the teaching and studying of mathematics in schools. The mathematics content is set to the new syllabus and has been written to cover a range of abilities. The material focuses on financial capability examples in order to provide a real-world context and engage pupils in understanding mathematical concepts.
Around 25% of questions in GCSE maths exams involve applying maths to real-world contexts and analysis of past papers shows that many pupils do particularly poorly on such context-based questions.