Nationwide unveils latest financial education scheme

Building society Nationwide has launched the latest phase of its financial education programme at a primary school in Yorkshire.

The scheme -which aims to teach youngsters about money matters and debt management – is supported by the secretary of state for children, schools and families Ed Balls.

Chief secretary to the Treasury Yvette Cooper also attended the launch at Normanton Common primary school.

Tony Prestedge, an executive director at Nationwide, commented: “We want to see all children leaving school with the tools that will help them make sound financial decisions that will stay with them.”

Phases designed for secondary school are due to commence in January of next year.

Research from the organisation has revealed that only 36 per cent of teachers and parents think they have sufficient support to teach pupils about understanding money.

Recently, the ifs School of Finance called for the government to create a standalone personal finance qualification rather than teaching it through the new functional maths GCSE.