Youngsters will get a helping hand with their pocket money, thanks to the Cumberland.
The building society is working with digital company EVERFI which offers schools a programme to help equip pupils with the tools to manage money from an early age. It will be rolled out to 25 schools for free.
The Cumberland and EVERFI have collaborated to create the dedicated programme designed specifically for nine to 11-year-olds. They will be taught how to make sensible financial decisions, as well as learning bigger life skills such as goal-setting and responsible decision-making.
One of the first schools to run the course is Grange Primary School. Year six teacher Paula Whinfield said: “The Vault course from EVERFI is fantastic because it has provided our older children with a stimulating digital platform through which to develop the critical skills of financial decision making; budget and spending; income and careers; credit and borrowing, and future planning.
“The fact it is so easily accessible and free for schools – thanks to the sponsorship from the Cumberland – is fantastic. The year six children are enjoying engaging with the interactive storytelling.
“We want to create a culture where children understand and respect the value of money, make good financial decisions and promote financial well-being for the future.
“We also hope that by placing a greater emphasis on teaching Financial Literacy, children will gain a greater understanding of their rights and responsibilities and appreciate the difficult decisions that some families may face in the coming months.”
During its first year the scheme will be rolled out at 25 schools surrounding branches across Cumbria and north Lancashire.
Nigel Taylor, head of marketing and brand at the Cumberland, said: “Having a good grasp of money management early in life is vital. We’re excited to work with EVERFI to provide a free learning programme that will help hundreds of children in our local schools achieve this important life skill.
“Our purpose is to create banking experiences that are kinder to people and planet, and this partnership is a great demonstration of our commitment to supporting the provision of financial education across our region.”
If successful, it is hoped that the scheme may be expanded into a secondary school financial literary programme, to reach a broader range of ages.
